Doesn’t hurt to walk into your local Carmax and ask the questions you want answers to. I’ve purchased from them and they are very customer oriented. They’ll be happy to sit with you and go over your situation. Pre approval is very quick, and the buying process is easy. The 30 day buy back is awesome, you don’t like the car, return it and pick another, no questions asked. You have 30 days to test the car, take it to your mechanic if you’d like, list any “issues” you find, and ...
How do I get a preapproved offer from CarMax?
To get your CarMax preapproved offer, you’ll need to enter in some personal information in the CarMax pre approval application such as: Your Income and Assets (i.e., what’s on your last pay stub or bank statement). Personal information about yourself, including name, address, date of birth, and social security number.
How does CarMax decide what to finance a car?
At CarMax, all finance offers are based on four factors: your application information, your personal credit history, the vehicle you want to buy (its age, mileage, and price), and your down payment amount. Your personal credit history plays an important part in the financing decision.
Is CarMax a good place to buy a car?
I am aware CarMax in some locations do sell some new cars. Anyway, mid 500's is fine, I was approved by Westlake Finacial and you don't have to buy a car from CarMax either. Many new car franchise dealers use them, as well as many other lenders you don't have direct access to.