CarMax MaxCare Refund and Cancellation Policy Explained

Can you get a CarMax MaxCare refund? Yes. You can get a refund on your CarMax MaxCare Service Plan. In fact, if you apply for a refund within two months of purchasing your vehicle, you’ll receive 100% of your funds back. For more details, see below.

CarMax MaxCare Refund Policy

CarMax will issue a full refund on a MaxCare Service Plan if you cancel it within two months of purchasing your vehicle. We reached out to the CarMax in Boynton Beach, Fla., to confirm that you can, in fact, get a refund on MaxCare — an optional extended service plan. As long as you have not yet made a claim, you can get a full refund within 60 days of your vehicle purchase, a business office representative said. After 60 days, you can get a prorated refund based on the length of time you’ve had the vehicle or the miles driven; your refund will be determined by whichever is greater.

If you paid cash for the plan, your refund will come back to you in cash. If you financed your vehicle through CarMax, the reimbursed amount will be applied to the outstanding balance of your loan.

A CarMax MaxCare Service Plan provides coverage beyond the company’s 90-day limited warranty. MaxCare provides full-vehicle coverage except for named exclusions, as well as a full week of car rentals (up to $40 per day) if your vehicle is in the shop. Roadside assistance is also included. You can pay your premium upfront or fold it into your vehicle’s financing. The cost of MaxCare depends on the particular vehicle purchased, the number of miles driven, your deductible, and your length of coverage. We asked a CarMax representative to provide us with a ballpark estimate for a MaxCare policy, but he declined, saying there were too many variables to provide an accurate estimate. For pricing details, visit a CarMax near you.

In Summary

If you cancel your CarMax MaxCare Service Plan within 60 days of your vehicle purchase, you’ll receive a complete refund. After 60 days, your refund will depend on how long you’ve had your vehicle and how many miles you’ve driven. Interested in learning more about CarMax? See our article: CarMax Bad Credit Approval Policy (Including Credit Score Information). Looking for other roadside assistance options? See our article comparing MCA and AAA.