My CarMax / MaxCare GT500 Experience

Jrtobbe94

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Creating this thread to share my recent experience with the MaxCare extended warranty that CarMax offers on its used vehicles.

One key note before reading: the car I purchased was factory stock.

Earlier this year, in March, I purchased a 2012 GT500 w/ SVTPP with 41k on the odometer. I maybe overpayed, but I felt like I was getting a decent offer on my trade, so I signed the papers and left with my dream car. During the process, I was sold on the MaxCare extended warranty. For the price, I couldn't talk myself out of insurance for the heartbeat components of this car. i think I was under $2k for $300 deductible for up to 75k miles over 5 year.

Fast forward to October, on my ride home from work, the engine started knocking. I immediately took the car to my local ford dealership, and began the month- long process of getting a new engine installed.

Of course, I was skeptical at first as to whether or not MaxCare would cover the job, so I was prepared to present service records. However, the most stressful point of this process was authorizing a $1000 tear down with the chance that the findings would void my claim, leaving me with the bill and a disassembled car. MaxCare covered the new (to the car) engine and most of the labor needed.

I left with my car today paying just over the deductible.

I would recommend the MaxCare warranty for any performance vehicle purchased through CarMax.

Thanks for reading. I just wanted to share my experience with the claim process, as this was one the big "what ifs" that was going through my head when I opted in the the extended warranty.
 

me32

BEASTLY SHELBY GT500 TVS
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What caused the motor to go? Glad you were taken care of. What was the total out of pocket cost?
 

samshady

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I had a similar experience with my warranty through my credit union on my 2012. No where near your cost but a rear end rebuild at $2300. The company sent a rep out to look at the car and signed off. I walked out paying $100 deductible and they paid for my rental car. The dealership carries a 4 year 100k mile warranty on their work. I paid $2800 for the 4 yr 40k mile warranty.
 

cidsamuth

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In multiple experiences with Carmax, I have found their cars are overpriced, underserviced, and dirty. I have not been offered a reasonable price from them to sell my car since 2005 -- and I have gotten an assessment many times since then before ultimately trading the car in elsewhere.

But, their warranties are legit, the financials always transparent, and the 7-day buyback is for real.
 

merkyworks

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I left with my car today paying just over the deductible.

I would recommend the MaxCare warranty for any performance vehicle purchased through CarMax.

OP sorry this happened to you but glad the end result worked out like it was supposed to and your back on the road.

In multiple experiences with Carmax, I have found their cars are overpriced, underserviced, and dirty...........But, their warranties are legit, the financials always transparent, and the 7-day buyback is for real.

You are paying for the ease of buying a car, CarMax car cost more Vs private seller but this is why people go with CarMax. I'm indifferent on CarMax, just pointing out this is there business model.
 

cidsamuth

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You are paying for the ease of buying a car, CarMax car cost more Vs private seller but this is why people go with CarMax. I'm indifferent on CarMax, just pointing out this is there business model.

That's a little bit of a Captain Obvious statement. Yes, you pay more at dealers than you do for private sales . . . for a number of reasons. But, I would argue CarMax is higher than most dealers . . . and their cars are usually not "reconditioned" to the same level that many dealers do.
 

Race Red Boss

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Couldn't agree more on getting the extra warranty when it comes to buying a higher mileage performance car like the GT500. Who knows whether or not the previous owner simply returned the car to stock? Given some of the performance enhancements you mentioned already, I'd seriously wonder if the car had a smaller pulley and tuned at a minimum. I think its safe to say that the majority of owners of our cars tend to drive them in a "spirited" manner....

I think I'd rather buy privately when given the choice, but you don't get the benefit of an extended warranty (unless you approach a company afterwards for one and not sure how economical that would be?).
 

02Saleengt

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Yeah, well my experience with CarMax with my 13 GT500 wasn’t as good as yours, the clutch went out the next day and they told me that it would be a month till they could look at it, the. I talked to a tech in the back and they said that put Autozone parts back on there vehicles so I’d get an Autozone or Advance Auto Parts clutch put back in it. I just ordered a RXT for it and put it in myself later that week. I will never let them touch my car ever. I have bought 3 cars from them and have had issues with all three that where reduculas and one of the issues is still not fixed. I’m an auto tech and I buy newer cars so I don’t have to work on mine too. The sales guys are pretty cool but there service departments suck... that’s my 2 cents.. rant over... lol
 

Jrtobbe94

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What is this warranty you speak of? Do they cover modded cars..........

Again, my car is stock, and will be until I run out the warranty.

I did ask a few probing questions regarding mods and what mods would be acceptable. Understandably, I was read a bit of contractual language.

Long story short, I'd expect any failure that could be attributed to mods would be denied. If I had a tune on my car, I'd imagine my spun bearing would have left me with a massive bill :)
 

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