Here`s my experience with depositing CarMax`s bank draft to Wells Fargo: I sold my car because it was the only way to get cash for urgent bills. I was also going to use the cash to buy a less expensive car. I got CarMax`s appraisal, then the day prior to the transaction I asked a bank manager how long the funds would take to clear. He said a business day. So I told the seller of the replacement
Does CarMax buy cars that don't run?
Once you sell your car to CarMax, you may have to pay a few fees that you did not expect to pay. Some of the fees include a processing fee that covers the cost of the paperwork involved with the sale. Selling Your Car To CarMax – Does CarMax Buy Cars That Don’t Run? According to reports, CarMax will indeed purchase a car that doesn’t run.
Where can I buy a bank draft?
If you have a checking account, you can purchase a bank draft at a financial institution. The draft is made payable at another institution. To obtain a bank draft, you write a check that's payable to a financial institution with the word "draft."
What is a bank draft payment option?
The bank draft is a certified payment option and, as such, it's a secure payment option to use when placing a significant deposit on a high-value purchase or when you need to give a payee confidence that you have the funds available to comply with a purchase and sale agreement. What Is a Bank Draft?