I did some digging, and what I found was so alarming that I will probably do CPO for my next car instead. Here’s a quote: “Customer complaints allege that Carmax does not cover all repairs which are listed to be covered. Allegations include stating that the repair is not covered because the vehicle had not been properly maintained or that the repair is not in the covered scope of the service plan. While these complaints are generally unverifiable, the frequency that the issues are mentioned is significant.”
That’s deeply unsettling, especially given the cost of repairs associated with the kind of car an enthusiast would purchase from CarMax. Aftermarket warranties are always a dubious investment, but it looks like this is a blatant scam. They sell you on the promise of trouble free motoring thanks to a bulletproof warranty and then make money by refusing to cover problems whenever they can. With that in mind, I wouldn’t be surprised if Doug Demuro is on a list of people whose warranty claims are approved without question.
Here’s the link to nearly 800 complaints on the BBB’s CarMax page:
Yikes! A “platinum” warranty (bumper to bumper) for BMW is 2-3 thousand more than the equivalent CarMax offer but you can actually negotiate the price of your car with them, and furthermore, you aren’t running the risk of losing thousands on denied warranty claims.