CarMax is best known for selling a wide range of used vehicles. The company has over 200 retail locations in 41 states with its first store opening in 1993 in Richmond, Virginia. In addition to selling used cars, the company also offers extended car warranties through a program called MaxCare.
MaxCare picks up where the CarMax Limited warranty ends. Included with every CarMax vehicle purchase, the Limited warranty offers coverage for the first 90 days or 4,000 miles, whichever comes first.
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While many extended car warranties are available for purchase after the sale is complete, that’s not the case with CarMax. You can decline the extended warranty, but if you do so, then you cannot opt in later. The MaxCare extended warranty is only available at the time of vehicle purchase.
A MaxCare extended car warranty through CarMax offers “named exclusion” coverage. That means instead of seeing a long list of every last part that is covered, there’s a much smaller list of items that are not covered. If you’re looking at a repair and the part is not on the named exclusion list, then you should be good. Keyword there is “should.”
It’s important to read the exact contract being offered for the exact car you’re buying from CarMax. Read the contract and then read it again. Heck, have a friend read it to make sure you aren’t missing anything. Be sure that you fully understand any exclusions or exceptions so you aren’t unpleasantly surprised when you make a claim.
Unlike many other extended warranty companies, CarMax doesn’t have a list of available plans for its MaxCare products. You will be offered an extended warranty at the time you buy your car and that offer may be rather aggressive.
Rather than simply listening to what the representative tells you and scribbling frantic notes, ask them to send you the contract for review. That way, you can make a cup of your favorite coffee and take a minute to review what the contract includes.
Take note of the terms of the warranty including the number of miles and/or months it covers. If it doesn’t feel like a good fit, then ask for something different. There’s lots of room to negotiate, you just have to know what you want first.
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Since CarMax only offers warranties for cars that it sells and only at the time of purchase, you can’t simply call and get a quote for the car sitting in your driveway. That makes it exceptionally tricky to say how much the warranty will cost.
We searched the internet to see what real people said about how much they paid and it’s quite a range. CarMax sells vehicles that are up to 11 years old from a wide range of automakers and has many different policies available. Customers stated anywhere from $1,000 to $8,500 for their warranties. Deductibles ranged from $50 to $300 with a $50 savings anytime you use a CarMax repair center. A higher deductible lowers your overall cost, but means you have to be prepared to pay it every time your car needs repairs.
There are also a range of mileage limitations from 75,000 up to 150,000. The higher the mileage, the higher the cost, so choose carefully. If you’re not planning on keeping your car for another 100,000 miles, then don’t pay for that level of coverage.
The overall cost is also based on the reliability of the car you buy. If you buy a vehicle with a known history of problems, expect to pay more. This is also the case for older vehicles, which are more prone to issues than those that are only a year or two old and still covered by the original manufacturer’s warranty.
| Vehicle* | Plan Name | Term | Total Cost | Deductible |
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(*) Quotes vary widely depending on your car, your mileage and your location. Please call for exact quotes.
Similar to other extended warranty companies, CarMax requires you to reach out before you have any work done on your car. This can be done online or over the phone and it’s essential that you do this if you want the work covered. Failing to contact the company before work is done can result in a denied claim. Payment for the work will be made directly to whoever is doing the repairs. All you have to pay is the deductible.
First, you have to be purchasing your car from CarMax since those are the only vehicles they cover. All vehicles sold by CarMax are eligible, it’s more how you plan to use it that could be a problem. If your vehicle will be used for business purposes, including ride hailing, then it’s not eligible.
If you’re not eligible for a CarMax Warranty, there are a number of good providers out there to choose from. We highly recommend looking into CARCHEX, autopom!, Toco or Endurance. To learn more about the best warranty providers in the industry, you can check out our 2021 Golden Wrench winners here.
If you do research on CarMax, note that CarMax sells cars while the extended warranties are provided through MaxCare. Look at reviews carefully to see that you’re getting thoughts on the warranty process and not just the sales process.
Positive Reviews
“. my ATS it needed a $3700.00 rear differential replacement … Then my Jetta needed $4500.00 front end repair work … I could not be happier with my investment in these warranties and will never buy a used car without one again.” - Michael, ConsumerAffairs
“CarMax is the best coverage out there for car warranties. When we had our service, they covered bumper to bumper on all issues. And the price was reasonable for this. That alleviates the fact the car was a few years old, giving up peace of mind should anything break down.” - Eddie, BestCompany
“Good service! Excellent coverage. Coverage for all the essential failures that can occur. Reliable car care for those unanticipated breakdowns. I strongly recommend” - Raymond, ConsumerAffairs
Negative Reviews
“. elected to purchase the top tier MaxCare warranty plan (a $50 deductible) because of the scope of the coverage. We used it to easily change an alternator about 9 months later without any issue. However, our van had a flashing check engine light come on about 6 weeks ago. The MaxCare warranty department decided that the work that needed to be done would not be covered due to "lack of routine maintenance" even though we have all the records proving otherwise.” - Diane, ConsumerAffairs
“. Their customer service in the warranty center is awful don’t bother calling them. They refused to help and refused to transfer me to someone else to help solve my problem. Will never buy from CarMax again.” - Gregory, BestCompany
The decision to get an extended warranty or not is one that depends on you and your car. If you’re a worrywart and break into a cold sweat at the thought of a pricey repair bill, then an extended warranty may be worth the price. Instead of having to find the money for surprise repairs when they happen, you can simply budget the cost of the extended warranty right into your monthly loan payment. Done deal.
An extended warranty can be a good choice if your car’s reliability rating isn’t so great. If the make or model has a bad reputation for breaking down and needing constant repairs, then there’s a decent probability you will save money by purchasing an extended warranty.
The flipside is that you may be paying for something you never end up needing to use. Especially if the car you purchase is only a year or two old, has very low mileage, or you don’t plan to keep it long term, the cost of the warranty may not be worthwhile. Use caution if you choose any warranty company that cold calls trying to sell you a warranty for any car. These are often fraudulent. Do your research and make sure that if you choose to purchase an extended warranty it’s from a reputable company.
