CarMax offers auto financing for used cars with multiple financing options and multiple repayment choices. You can apply for preapproval, but you must purchase a used car from a CarMax store or dealership.
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What you need to know about CarMax Auto Finance loans
CarMax operates more than 200 used-car stores across the country. As a large used-car retailer in the U.S., CarMax Auto Finance offers auto loans to people who purchase a used car from a CarMax location.
Is a CarMax auto loan the right fit for you?
If you don’t enjoy negotiating with dealerships over your rates and terms, getting an auto loan from CarMax might be an attractive lending option for you.
But before you decide to formally apply for an auto loan with CarMax Auto Finance, it’s a good idea to check your credit and compare other loan offers. Understanding your credit can help set expectations — in general, lower credit scores will result in higher interest rates. And shopping around can help you find the best loan rate and terms for your needs. Read our article on how to get a car loan to learn more.
About the author: Ashley Chorpenning is a personal finance writer and content creator. In addition to being a contributing writer at Credit Karma, she writes for solo entrepreneurs and Fortune 500 companies. Ashley has a Bachelor of Bu… Read more.
