According to interviews with Derek Adams in the Herald, Argyle tried to start talks about a new contract in pre season and again in October. On both occasions the player and Agent decided not to talk as the player wanted to wait. I assume that means if we didn't get promoted Carey didn't want to be contracted to stay.
Obviously you would assume some talks have taken place since as in the retained list it stated that Carey along with Sawyer and McCallum have been offered new contracts.