It has a stipulation on it that says it must be verified by the payor. 2 places already could not cash it, and several people online say it needs to be deposited in a bank account. The problem is my bank says it will take two weeks to clear, and I can't wait that long. It's for $10k. I sold my car there. My car still had $6k owed. This is the difference between their offer and what was still owed.
Can CarMax refuse to buy a car?
But keep in mind that CarMax can refuse to buy any car at any time. With all of the damage that your car has, CarMax will take all of that into consideration before a written offer is presented to you. For cars with extensive damage, CarMax will take those cars to a dealer auction, and disclose all problems with the cars.
Can YOU Cash a bank draft?
Next, you must take your bank draft to your bank or credit union and deposit it. You cannot cash it. “Before attempting to draw on the bank draft, always check with your bank to see if they have a specific hold policy on deposits,” adds CarMax. One CarMax Customer's Experience Selling a Car CarMax
How does CarMax work?
CarMax will evaluate your car for free and then make you an offer that is good for about a week. Additionally, CarMax will also identify any major issues with your vehicle, that could potentially hurt or impact the amount of money you can get for it. In order to get good money for your car, you have to be a good seller.