Selling a CU financed car to CarMax

[NaaryalHead]

Hey guys,

I checked the online offer tool on CarMax website and they're offering me a good value for my 1 year old car.

Since the amount they're paying is more than what I owe to the CU (because I put some downpayment in cash and then the CU loan after that) - will carmax pay me the difference?

Also, my car was in a minor fender bender (stop and go traffice bump). broke the bumper but no structure damage. I'm the kind who gets bothered by even the tiniest scratch on the car will replace the entire part. So I spent over $1000 getting the entire bumper replaced. It was all replaced and installed by Honda dealership. I didn't go to a local workshop who might do it for half the cost but would no longer look like the original part. My question is, how do I mention this? As an accident or just fender bender ? what kind of loss am I looking at if they count it was accident? or not mention it at all?

I do know honda service center reports to carfax and because the insurance company paid for half the repair cost, I'm sure its on carfax for sure. What kind of a damage am I looking at if that is counted as an accident?

Thanks

[Loquat]

First I would suggest you not start answering questions that hasn’t been asked. CarMax is a large corporation and they can do their own due diligence (and they will) prior to purchasing your vehicle. So there’s that…

To answer your other question is that yes, CarMax will confirm the payoff on your vehicle and will cut you a check for the difference.

[sccredit]

More than likely Carmax pulled the Carfax report prior to giving a valuation so theyir price already includes the accident.

Carmax will give you a check on the spot for the equity in the car. I've sold 2 CU financed cars to Carmax and walked away with a check both times. 

[nastalgia]

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@NaaryalHead wrote:

Hey guys,

I checked the online offer tool on CarMax website and they're offering me a good value for my 1 year old car.

Since the amount they're paying is more than what I owe to the CU (because I put some downpayment in cash and then the CU loan after that) - will carmax pay me the difference?

Also, my car was in a minor fender bender (stop and go traffice bump). broke the bumper but no structure damage. I'm the kind who gets bothered by even the tiniest scratch on the car will replace the entire part. So I spent over $1000 getting the entire bumper replaced. It was all replaced and installed by Honda dealership. I didn't go to a local workshop who might do it for half the cost but would no longer look like the original part. My question is, how do I mention this? As an accident or just fender bender ? what kind of loss am I looking at if they count it was accident? or not mention it at all?

I do know honda service center reports to carfax and because the insurance company paid for half the repair cost, I'm sure its on carfax for sure. What kind of a damage am I looking at if that is counted as an accident?

Thanks

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The Honda dealership will automatically put it in your car's carfax report, if you create a free carfax account you will see the repairs and any other service you made listed under the car's VIN number