With over 200 locations nationwide Carmax is known as the largest used car dealer in the United States.
BUT… there may be something you, as a dealer, should be concerned about. Auto Legal Group, a California law firm that only represents and defends car dealerships (www.autolegalgroup.com), has recently received two reports of situations where a dealer purchased a vehicle at an auction that was being sold by Carmax and has been unable to receive the title of those vehicles even months after the vehicle was purchased.
This is a major liability for dealers, as it means they are unable to sell those specific vehicles or register them. If a dealer in that situation sells the car, they could be sued by the customer for a number of reasons related to lack of title. Dealerships affected have mentioned that Carmax has stated they are working on resolving this issue, but as of now, no timeframe for a resolution has been provided.
If you are purchasing vehicles from Carmax, please make sure to receive all the documentation needed at the time of your purchase. If you have experienced a similar scenario, please let us know!
If you have any questions or need assistance, contact our Dealer Defense Team at support@dealerxt.com or (408) 216-7422