A step-by-step guide to getting competing offers from CarMax, Carvana, and other instant buyers—and what the data says about who typically pays the most.
If you're selling your car, one of the smartest things you can do takes about 15 minutes: get instant cash offers from multiple online buyers and compare them.
These offers are free, no-obligation, and typically valid for 7 days. That's your window to make a decision without pressure.
Here's exactly how to do it, what to expect, and what the research says about who usually offers the most.
Why Get Multiple Offers?
The difference between the highest and lowest instant offer on the same car can easily be $1,000 or more. In a FinanceBuzz analysis of over 100 vehicles, the spread between platforms was significant enough to make comparison shopping worth the minimal effort.
Think of it like getting quotes from multiple contractors. Same car, same condition—but different companies have different inventory needs, different overhead structures, and different algorithms determining their offers.
The Main Players
CarMax
What They Offer:
- 7-day offer validity
- In-person redemption at 250+ locations
- 30-day money-back guarantee on purchases (longest in industry)
- Same-day payment when you bring the car in
The Data: According to FinanceBuzz's comparative study, CarMax offered the highest price 63% of the time across all vehicle types. Their average offer was nearly $1,000 higher than competitors.
The Catch: You have to drive to a CarMax location to complete the sale. No home pickup.
Best For: Maximizing your offer if you have a CarMax nearby.
Carvana
What They Offer:
- 7-day offer validity (or 1,000 miles, whichever comes first)
- Free home pickup—they come to you
- 7-day return policy on purchases
- Handles loan payoff directly
The Data: Carvana typically offers competitive prices, especially on newer vehicles. Their convenience factor is unmatched.
The Catch: Offers can be lower for older or higher-mileage vehicles compared to CarMax.
Best For: Convenience prioritizers who want the entire process handled remotely.
Driveway (by Lithia Motors)
What They Offer:
- 7-day offer validity
- Home pickup available
- Direct deposit payment
- Backed by Lithia, one of the largest auto dealer networks
The Data: Growing platform with competitive offers. Being backed by a major dealer network means they have strong demand for inventory.
Best For: Comparison shopping—always worth getting their offer alongside CarMax and Carvana.
Kelley Blue Book Instant Cash Offer
What They Offer:
- KBB-backed valuation
- Redeemable at participating dealers (including CarMax locations)
- 7-day validity
The Data: KBB is owned by Cox Automotive, and their Instant Cash Offer can be redeemed at CarMax (Edmunds, also owned by CarMax, offers the same). Think of it as another entry point to the CarMax offer.
Best For: If you trust the KBB brand and want their interface.
EchoPark (by Sonic Automotive)
What They Offer:
- Focused on 1-4 year old vehicles
- Competitive offers for newer cars in excellent condition
The Data: Selective in what they buy, but can offer strong prices for vehicles in their sweet spot.
Best For: If you have a newer vehicle (under 5 years old) in great condition.
The 7-Day Challenge: Step by Step
Day 1: Gather Your Information
Before you start, collect:
- Your VIN (found on your dashboard, driver's door frame, or registration)
- Current mileage (check odometer)
- General condition assessment (any damage, mechanical issues)
- Number of keys you have
- Accident history (be honest—they'll find out)
Day 1-2: Get Your Offers
Visit each site and enter your vehicle information:
- CarMax.com → "Get an Offer"
- Carvana.com → "Sell My Car"
- Driveway.com → "Sell"
- KBB.com → "Instant Cash Offer"
- (If applicable) EchoPark for newer vehicles
Each takes about 3-5 minutes. By the end, you'll have 3-5 offers in hand.
Day 2: Record and Compare
Create a simple comparison:
| Platform | Offer | Validity | Notes |
|---|---|---|---|
| CarMax | $21,500 | 7 days | In-person redemption |
| Carvana | $20,800 | 7 days | Free pickup |
| Driveway | $21,200 | 7 days | Free pickup |
| KBB ICO | $21,400 | 7 days | CarMax redemption |
Day 3-5: Leverage Your Offers
If you're also considering trading your car at a dealership, bring your instant offers. Tell them:
"I have a $21,500 offer from CarMax valid for 7 days. Can you match or beat that on my trade-in?"
This gives you leverage. Dealers know instant offer platforms set a floor they need to compete with.
Day 6-7: Make Your Decision
Consider:
- Which offer is highest?
- Is the convenience of home pickup worth a slightly lower offer?
- If buying from a dealer, what's the trade-in offer + tax savings?
Then act before offers expire.
What the Research Shows
CarMax tends to offer the most. Multiple independent studies confirm this:
- FinanceBuzz: CarMax highest 63% of the time, averaging ~$1,000 more
- Consumer Reports: Found ICO platforms often pay more than private dealers
- KeySavvy: Private party value averages 46% higher than Carvana offers (but requires significant effort)
Newer cars get better relative offers. Instant offer platforms prefer newer, lower-mileage vehicles they can resell quickly. Offers on older or higher-mileage cars may be less competitive.
Condition matters—a lot. Be honest about condition. If the in-person inspection reveals undisclosed damage, your offer will be adjusted downward.
Pro Tips
1. Get offers on the same day. Markets shift. Getting all your offers within 24 hours ensures you're comparing apples to apples.
2. Be completely honest about condition. The offer is contingent on inspection. If you hide damage, the final offer will be lower and you'll have wasted time.
3. Understand the inspection process.
- CarMax: In-person inspection at their location (30-60 minutes)
- Carvana: Inspector comes to you, can adjust offer on the spot
- Driveway: Similar to Carvana—inspection at pickup
4. Don't forget about your loan. If you owe money, the payoff amount matters. Both CarMax and Carvana handle loan payoffs directly—they'll pay your lender and give you the remaining equity (or you'll need to cover negative equity).
5. Time your sale strategically. Some vehicles have seasonal demand:
- Convertibles: Worth more in spring
- 4WD/AWD: Worth more before winter
- Trucks: Generally strong year-round
When to Skip the Challenge
Sometimes one offer is obviously right:
- No CarMax nearby + time matters: Just use Carvana or Driveway
- Older/high-mileage vehicle: Offers will be similar; pick the most convenient option
- Need same-day cash: CarMax offers same-day payment
Bottom Line
Taking 15 minutes to get 3-5 instant offers is one of the smartest things you can do before selling your car. The offers are free, valid for a week, and give you real data to make an informed decision.
Based on the research, CarMax tends to offer the most, but Carvana and Driveway offer superior convenience. Get all the offers, compare, and pick the one that matches your priorities.
Your car's value isn't a mystery—it's a competition between buyers. Make them compete.
Related: Your Car Has Three Prices | Private Party Made Safe: How Caramel Works | When Trade-In Tax Savings Actually Matter
Data Sources: FinanceBuzz instant offer comparison study (100+ vehicles), Consumer Reports ICO analysis, KeySavvy trade-in vs. private party research. Individual results will vary based on vehicle specifics and market conditions.
