CarMax teams up with Dunkin' to lure more customers into test-driving cars

Dunkin' and CarMax (KMX) are teaming up to offer test drive customers a Dunkin’ gift card, and the chance to win free donuts for a year.

As the COVID-19 recovery hits a crescendo and buoys CarMax's business prospects, the company is joining forces with the donut chain to sweeten the deal for consumers mulling a car purchase.

Beginning on April 12th through May 16th, the "Doin' Donuts" campaign between the two brands will give CarMax customers who participate in a 24-hour test drive a $10 Dunkin’ gift card. Test-drivers who share their experiences on Twitter or Instagram may win the chance to score free donuts for a year.

"At CarMax, we believe the car-buying experience should be as enjoyable as possible while ensuring customers feel confident with their decision," Sarah Lane, Vice President, Marketing at CarMax said in a release.

“We want customers to experience a day in their life"— which might include "a trip through the Dunkin’ drive-thru for their favorite order," she added.

GOES, NETHERLANDS - 2020/07/27: A worker at New York Pizza wearing a mask serves customers through their car at the Pizza drive-thru. New York Pizza opens the first Pizza Drive-Thru in the Netherlands working together with Dunkin' Donuts, pizza slices and donuts are served through customers' cars. In honor of this opening, a new product was jointly developed; the PizzaDonut available with two different toppings: as Margherita or as Pepperoni. (Photo by Robin Utrecht/SOPA Images/LightRocket via Getty Images) (SOPA Images via Getty Images)

Back in January, CarMax introduced test drives and a 30-day money back guarantee up to 1,500 miles, as part of a "Love Your Car Guarantee" to let car buyers decide if the vehicle is the right fit.

Meanwhile, Dunkin' was recently named the official coffee and donut partner of the Los Angeles Dodgers, and launched a limited-edition merchandise line with ongoing partner TikTok star Charli D’Amelio. The line includes a onesie, tumbler, iPhone case, scrunchie set, keychain and cold brew tap.

Shares of CarMax have been on a tear, far outpacing gains on the S&P 500 Index (GSPC), according to data from S&P Global Market Intelligence, as the "stay at home" trade gives way to a broad-based rally in stocks associated with travel, leisure and entertainment. The company's stock is up nearly 103 percent compared to a year ago.

Brooke DiPalma is a producer and reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com.

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