Does anyone have experience cashing in on a warranty from carmax? The coverage is only worth as much as they will actually approve.
There isn’t a cap on what they will pay. Maxcare is underwritten by warranty vendors and CarMax has actually 0 to do with Maxcare. They simply offer it. A couple things about Maxcare that make it better than almost everything anyone else offers. It is a named exclusion plan, meaning if it isn’t specifically listed as a not covered part in the contract, it is covered. Almost every other plan other dealerships sell are named inclusion plans, meaning if it isn’t listed it isn’t covered. Maxcare can also be cancelled at anytime and you can get a prorated refund, as well if the car is traded in or totaled before it expires. Also you can ask for the full contract, there is very little that isn’t covered. Abuse and lack of main
Maxcare can be used almost anywhere, as long as the repair shop meets minimal standards, you do not have to use a specific repair shop, you get a deductible discount if you stay in repairpal network, but you are not required to. Also you do not pay up front and get reimbursed, Maxcare pays the repair shop directly.
I’m actually a sales consultant at a CarMax, and before, I worked at TWG’s parent company who underwrites most of Maxcare so I know a good amount about it. It’s actually a pretty good plan and CarMax is actually a great place to work and a trustworthy company.
People joke about it because of the higher no haggle prices, but I can’t tell you how many times I have met poor souls who bought a frame or flood damaged vehicle without knowing it and owe a ton of money on it. We never sell those and we have a 30 day money back guarantee. There is actually a trick a lot dealerships use to show a clean Carfax at time of purchase, and the customer buys it with no recourse. It takes 30-45 days for Carfax to report major accidents and/or flood damage, so they sell the car before it reflects on the Carfax and put the car back together very shoddy. See those cars a couple times a week, very sad. I know that is an extremely long explanation, but thought I’d share my experience.