Which is Better for Selling the Car?
Of the three featured companies, Carvana might be the best option if you want to make some cash for your car. It has more payment methods, allowing you to choose based on your banking preference.
Carvana also offers a free pick-up option, which is convenient because you don’t need to take your car anywhere. If you prefer to bring your vehicle in, you can drop it off at one of Carvana’s car vending machines.
Carvana Summary
- Get an online quote within 2 minutes
- Free pickup wtihin 100 miles of a hub
- Offer valid for 7 days or 250 more miles
- Haggle-free process to sell your car
CarMax Summary
- Instant online offer in under 2 minutes
- Online offer is valid for up to 7 days
- 2 options for selling – online or in-store
- Get paid within 30 minutes on the spot
TrueCar Summary
- Enter VIN to instantly get a car estimate
- Offer is good for three days
- TrueCar pays through check
- Offer comes from one of Certified Dealers
Carvana vs CarMax vs. Truecar Comparison
| Carvana | CarMax | Truecar | |
|---|---|---|---|
| Cars accepted | 1992 or later models, in running condition | Cars in most types of conditions, with exceptions | Cars in most types of conditions |
| Fees | $0 | $100 to $400 | $0 |
| Requesting quotes | Online application | Online application | Online application |
| Offer validity | 7 days or additional 250 miles | 7 days | 3 days |
| Payments offered | Cash or trade-in value | Cash or trade-in value | Cash or trade-in value |
| Payout | Check, direct deposit, direct debit | Bank draft | Depends on the Truecar-certified dealer |
| Car pick-up | Free pick-up or drop off | Drop off | Drop off |
| Physical locations | 33 Car Vending Machines across the US | Over 230 CarMax stores nationwide | Over 10,000 Certified Dealers |
| Turnaround time | Up to 72 hours | Up to 48 hours | 48 to 72 hours |
| Customer service | Phone or chat | Online form, phone, and social media channels | Phone, email, and social media channels |
| Reviews | 3.8 | 1.7 | 4.1 |
Consider Best Alternatives
Best Used Car Buyers
Peddle
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Cars Accepted
You can sell your car to Carvana if it’s still in running condition and has a year model or no earlier than 1992. Besides these, you can also sell your vehicle to Carvana if it has a rebuilt or salvaged title.
In contrast, CarMax buys vehicles in most conditions. This means that even if your car has engine issues, you can still sell it to them. Also, the company accepts junk cars, though it makes an exception for vehicles with flood and frame damage.
Truecar, like CarMax, buys vehicles in most types of conditions. These include cars that are damaged and wrecked and even those considered junk.
Fees
All three companies don’t charge any fees when you use their website to get an instant quote. With Carvana, you can also schedule a pick-up time at no cost.
However, CarMax charges between $100 to $400 as processing fees when you decide to sell your car to them.
Requesting Quotes
Carvana
Getting an online quote with Carvana is pretty straightforward. Through their website, you can enter your car’s VIN or Vehicle Identification Number. It will automatically show your car’s model, make, and year.
If you don’t have the VIN, you can manually enter your vehicle’s details and provide additional information about its current condition. After completing the online form, the website will show you the offer amount.
Suppose you’re good with the offer. In that case, you can proceed to schedule a pick-up time for Carvana’s agents to get your car. You can also park the offer in the meantime and check offers from other companies.
CarMax
Selling your car to CarMax is quite similar to Carvana’s online process. You’ll also need to provide details about your car, and its present location. After completing the form, CarMax will generate the offer right away.
In some cases, CarMax asks customers to set up an appointment or visit a local CarMax store for an inspection.
Truecar
While Truecar can also provide you with instant offers for your vehicle, its business model is quite different from Carvana and CarMax. After all, you will still need to have your vehicle inspected by their certified dealers.
In essence, their certified dealers are the actual car buyers. Truecar only uses its sophisticated algorithm to connect private sellers to potential buyers.
Because of that, you’ll still need to go to a Truecar store to have your vehicle inspected. After which, Truecar finalizes the offer, and you can either accept it or walk away.
Offer Validity
Carvana offers are good for seven days or additional 250 miles. This means that you can claim the offer within 7 days as long as it doesn’t acquire over 250 miles.
Similarly, CarMax allows you to claim their instant offer for up to 7 days. It, however, doesn’t have the complexity of considering additional miles.
Finally, Truecar has the shortest offer validity, allowing sellers to claim instant offers within 3 days only.
Payments Offered
All three offer trade-ins or cash payments. Suppose you want to get cash instead of a new car, Carvana is the winner among the three. It has 3 payment methods, namely direct debit, direct deposit, and a check.
Having these many options can be enticing if you prepare to get your money one way instead of the other. On the other hand, CarMax only offers to pay through a bank draft, which you will need to deposit into your bank account.
When it comes to Truecar, payment methods depend on the certified dealer that will buy your car. In this case, it’s best to ask the dealer which payment methods they offer before bringing your car in for inspection.
Payout
When you opt for the pick-up option, a Carvana agent will come to your location to inspect the car and finalize the sale. Before they take your vehicle away, the Carvana agent will hand you a check payment.
Carvana will also initiate the payment to your bank account or debit card within the same day they take your vehicle if these are your preferred payment methods. In contrast, you will have to bring your vehicle to a CarMax store and you’ll get paid in bank draft.
When it comes to selling with Truecar, all matters related to payments depend on the certified dealer that will purchase your car. To confirm the dealer’s payout times, it’s best to reach out to them before bringing your car for inspection and sale.
Car Pick-up
Of the three featured companies, only Carvana offers a free pick-up option. How this works is pretty convenient. Basically, you can schedule a time for a Carvana agent to go to your location and inspect the car.
The agent will also check the vehicle’s document and confirm its current condition. Once everything is set, and there are no changes with the initial offer, the agent will pay you on the spot and drive your car away.
Suppose you opt for the Carvana trade-in option. The agent will bring your new car when they come to inspect and take the old one.
Physical Locations
Although Carvana offers free pick-up, you can also choose to drop off your car at any of their 33 car vending machines. This option works if you need the time to do other stuff instead of waiting for their agent to come to your house.
CarMax, meanwhile, has more than 230 store locations. After getting an instant quote online, you can bring your vehicle to their nearest store. Their representative will check your car and assist with the entire process.
You might have a better chance of finding a Truecar Certified Dealer than a Carvana car vending machine or CarMax store. The company partners with over 10,000 independent dealers nationwide, and any of them can honor your Truecar instant offer.
Turnaround Time
Selling your car with Carvana can take up to 3 days. You’ll have to factor in the availability of the pick-up schedule. It also makes sense to consider the time it takes for their agent to pick up your car.
CarMax, meanwhile, offers a slightly faster turnaround time of 48 hours. It’s because you have the option to bring your vehicle to one of their stores as soon as you have an offer. There’s no need to wait around for their agents to come to you.
As for Truecar, turnaround times depend on their certified dealers. Although, generally, selling a vehicle to them takes around 2 to 3 days.
Customer Service
Carvana currently offers phone support through their toll-free number 1-800-333-4554. According to their website, you can also reach them through chat and text messages, but, at times, these are unavailable.
With CarMax and Truecar, you’ll have more ways to reach customer service. To contact the CarMax support team, you can
- Dial (913) 384-6697 on your phone.
- Complete an online form on their website
- Send a direct message to their Facebook or Twitter accounts
Their hotline is available from 8 AM to 10 PM, Mondays to Fridays, and 9 AM to 6 PM EST every Saturday.
Like CarMax, TrueCar offers support through phones at 1-888-878-3227 for the English hotline and 1-888-256-5461 for Spanish. These lines are available from Monday to Friday, 9 AM to 9 PM, and Saturday to Sunday, 10 AM to 7 PM EST.
You can also contact their support team through email at feedback@truecar.com.
Reviews
| Carvana | CarMax | Truecar | |
|---|---|---|---|
| Trustpilot | 3.8 | 1.7 | 4.1 |
| BBB | 1.94 | 1.14 | 3.45 |
| Consumer Affairs | 2.8 | 3.5 | 4.0 |
Carvana Reviews
Carvana is one of the popular car-selling platforms these days. Some of the positive reviews on the platform came from sellers appreciative of Carvana’s free pick-up option.
Other users liked that the pick-up option makes it easy to sell as Carvana agents assigned to them are punctual and professional. Sellers also praised the stress-free car-selling process with Carvana.
The company received less than favorable ratings from the Better Business Bureau and Consumer Affairs. Customers took their issues with Carvana to these platforms, citing issues with the warranty and delivery times of their purchased vehicles.
CarMax Reviews
CarMax’s customer ratings from these review websites are also far from impressive. Although, most of the one-star ratings are from car buyers who found issues with their vehicles and are in need of after-sales support.
Meanwhile, sellers are particularly happy with the offers they received and the spectacular customer service at CarMax stores.
TrueCar Reviews
Of the three featured companies, Truecar evidently received the highest ratings from customer review sites. Both car buyers and sellers expressed their delight in Truecar services, with others claiming to be repeat customers.
Besides its reasonable rates, Truecar customers also liked how easy it was to buy and sell vehicles and that there are no hidden fees.