If you’re looking to sell your car, you’ve got options beyond trading in or selling your car privately. Something feels very not right about it. Worse, they sell for that much brand spanking new. Carmax isn't bad, just get out side financing. They have so much information and so much purchasing power, and they have the most available data, real time, that no one else can compete. Even working there I financed through my credit union. Obviously time for a new car, and it wasn't a total surprise, just a little sooner than anticipated. Final payoffs sent by express mail or overnight delivery should go to: CarMax Auto Finance Attn: Payoff Department 225 Chastain Meadows Court Suite 210 Kennesaw, GA 30144. We successfully provide options to customers with many different credit profiles because we work with some of the country’s leading financial institutions, which improves your chances of getting approved. A friend got a car from them with scores in the 500s and a little bit down. Now financing it, well that's a matter that can be settled objectively, and obviously its no bueno at the moment. raise some questions, like the New York State . I ended up buying from a smaller used car place. One customer, Andréa Van Sickle, a work-from-home mom living in Dayton, told me her story, which was a stressful experience for her family from start to finish. User account menu. CarMax oil change prices vary depending on vehicle type, but they start at $40 for standard oil and $60 for synthetic oil. The prices on to troubleshoot it and a CarMax sales associate can only drive their is bad and how car or a used days after you buy. Not really. Posted by 1 day ago. I bought a Ford Fusion from Carmax and that *** broke down on me just a month after, My brother who is a mechanic told me I need to replace something in the fuel tank and that a bad noise is coming from the engine which also needs some work that will cost a *** load of money. CarMax offers oil change services nationwide, according to its customer service representatives. The prices on the stickers and online are not subject to upcharges, so buyers won’t have to worry about any hidden fees. The mirage is quite literally the worst car for sale in America right now, you're also getting completely ripped off. Join. My most recent purchase was at Carmax. Didn't buy anything and I don't even think they contacted me at all to follow up and try to get me to come back. Posted at 06:58h in Uncategorized by 0 Comments. Getting rate quotations should be your first step. The difference, to CarMax's credit, is that regular dealers generally won't go over cars they're selling nearly in as much detail as CarMax does, and CarMax will generally have a much better warranty for someone buying a used car. I told her that she's obviously free to pick the car she wants, and if she's happy then I'm happy lol. If the price is fair compared to what you would expect to pay somewhere else, go buy it. carmax r/ carmax. card. I decided to take my savings fund for a car and invest into remodeling my pool / home instead. Hot New Top Rising. Her last car was an '04 Mitsubishi Lancer that lasted a little over 300k miles, with relatively manageable maintenance over the years, so she feels fine about getting another Mitsubishi. Cookies help us deliver our Services. Contact your bank or credit union- they will have auto loans. It usually goes the other way, where they tell you that they essentially can't get you a loan without a co-signer if you have bad credit. For comparison a credit union or bank should be able to give someone with a decent credit score a rate of 3-4%. How are we not going to address the elephant in the room here? So my question out of all of this is mainly: Is this sales lady full of crap? Any advice would be greatly appreciated, as neither of us really have too much experiencing buying cars from dealerships. r/carmax: tell your own personal experience with this shitty car company. Working at carmax reddit Since 1995, MultiChoice has been quietly getting on with the business of bringing you world-class entertainment. Costco is also a place to get a decent deal on a new vehicle. Also, the 12k price included an extended 5 year warranty and gap insurance. Carmax is economically better than buying a new car. The GF should never in a million years have “bought” the car with a deal that was not even close to what she planned. Source: Was a Buyer and a salesperson at Carmax for several years. Its a 2018 Mitsubishi Mirage with I think 36k miles for like $9,999 or something in that ballpark. You’ll receive a full refund to your original payment method or you can transfer the down payment to another CarMax vehicle. Well, screw them, it’s not their money! Carmax seems good about at least trying to get some kind of deal done even with bad credit. Carmax is economically better than buying a new car. Edit: Due to the increasing number of rule-breaking comments (after many helpful and on-topic responses), the moderation team has locked the post from future comments. Enter your vehicle info to receive a cash or trade-in offer. We both agreed that this lady was just looking to close the sale and get out of there. including a lack of I can promise is well… It probably had site’s personal finance subreddit. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Her credit score was bad (550) she ended up buying a 2002 vw gti. You can also use Carmax’s Car Payment Calculator that provides an estimate of the total tax and title fees you’ll need to pay in your state. 0 Likes. No, you cannot get a car with bad credit anywhere other than a "Buy Here, Pay Here" lot. 1 1. Disadvantages, you will pay more. I'm sure their financing is on par with every other dealership but go in with your own financing just in case. CarMax allows returns within seven days of purchase, a corporate customer service representative said. Once you have an idea what vehicle you want, then research pricing on Edmunds.com and Trucar (this is for a new car). Yep, you can apply for a car loan from your bank and they'll mail you a blank check. But more importantly, we’ve taken to heart the responsibility of uplifting our communities and our country. The better your credit profile, the more likely you may be to qualify for approval, more favorable terms and a better interest rate. Yea, that's a whole other conversation lol. I feel like I'm always getting the short straw no matter what deal you think you're gettiing from the dealership. That being said. It won't be the lowest price, but you can look at their database online and see exactly what cars they have available and at what prices. I don't know much about cars, yet even I was baffled at reading that a 2018 car was $10k. I've bought way more cars than anyone my age should have. Auto. I spent a month looking last time I bought private party. You should get financing secured before going into the store, but see what their on site financing can offer, and their purchase prices are generally fair, especially for not negotiating. I know I can call but my local carmax is closed now and I kind of need to know today. Van Sickle says she was at the end of her pregnancy and desperate. Check out the prices on Carmax's website. Fantastic way to get rid of a car with pretty much zero hassle. Your actual rate depends upon credit score, loan amount, loan term, and credit usage and history, and will be agreed upon between you and the lender. You won't really save that much on APR and then you have to worry about them not wanting to give up half-ownership of the car later." I just wanted to ask if any of you know if carmax would allow me to put a down payment on a car with a CC? https://www.cars.com/vehicledetail/detail/766747966/overview/, https://www.nytimes.com/2014/05/25/automobiles/autoreviews/its-cheap-but-is-it-overpriced.html?_r=1. Archived Comments are locked. Sales lady only wants her commission and will close the deal ASAP. These dealers typically charge much higher interest rates than traditional lenders, which could cost you more in the long run. So my gf, not being a very confrontational person, said okay after the sales lady assured her that even if they did the sale today without a co-signer, she has a 3 day (maybe longer?) grace period to return the car if she isn't happy and get a full refund, etc. CarMax return policy is usually 7 days, at least in CA it is. Used-car I recommend ... You guide helps you diagnose credit. Yes. Carmax works with three or four banks. Join our community, read the PF Wiki, and get on top of your finances! We agreed already that we're going to return the car regardless, as 13% is quite literally unworkable. Whether or not you will get offered a loan depends on how bad your credit is. The buying a car with bad credit carmax most often impacts the entire value of the car and the monthly fee. CarMax oil changes are by appointment only, so you’ll need to contact your nearest CarMax location to set up a time for service. Carmax has some advantages: no haggling makes the car buying process easier. Her father has objectively great credit and makes good money. Which I personally am ok with since I hate spending a week playing the stupid car buying game to save money. Aren't these statements true of any dealership? Sorry about that! Below are the 10 questions we hear most often from CarMax customers about used car financing while they’re conducting their used ... Can I get approved if I have bad or damaged credit? You don't have to haggle at any dealership, but of course you will pay more when you don't. Hot. Yeah- the sales lady wanted to close the deal that day, ahead of month end. Also if you like no haggle, many car rental lots (like enterprise) sell cars below Kelly Blue Book value with no haggling. Press question mark to learn the rest of the keyboard shortcuts. They say you have 3 days to refinance before you are responsible for any interest they lose. Posted by 1 year ago. That said, if you're car savvy and know what to look for in a used car, it's pretty damn easy to find a better deal. Short Answer: CarMax offers a variety of financing options through lenders like Ally Auto Finance, CarMax Auto Finance, and Santander Consumer USA. The sales lady wanted to close the sale that day instead of waiting for her to hopefully figure out the cosigner issue. It’s actually 7 days you have now to return a car. In addition to more room for back-end profit on a high interest rate. $11k credit lines over 2 credit cards with 90% available, but one is a year old and the second is 3 months old. Feel free to ask any clarification questions, its a lot to type out and I'm sure I've missed something. She's getting ripped off six ways to Sunday. I do most of the negotiation online and then only visit the best two dealers on the day of purchase. CarMax makes buying a car as easy as buying an appliance from Best Buy or something which is great. A closer look at CarMax Auto Finance. When shopping at a CarMax store, simply tell a sales associate that you'd like to take the car of your choice for a 24-hour test drive. Like a dealership, CarMax offers reasonable financing, even for those with bad credit. She went into a CarMax a couple of days ago after doing hours of searching around online for a decent deal. I see OP's question as "Is Carmax fair or will I get cheated". A friend of mine was offered their "best financing" with a rate of around 6%. Here are some other things to know about CarMax Auto Finance. I've test driven cars at carmax and found it to be stress free and no pressure. Press question mark to learn the rest of the keyboard shortcuts. The rates werent great(20s) but he drove off two hours later so he was happy. They have an amazing selection and can ship cars in from somewhere else for a fee. On top of that, maybe engine mount is bad I'm getting a lot of shaking but let's say maybe it isn't that and it's something with the tires. Repeat ad nauseum. This. TL;DR: Dealership is strongly advising against a co-signer for someone with relatively poor credit. Best bet when buying used is to go certified IMO. The company does a fantastic job of picking new people to join the team and many of the people I've worked with over the years have become my family. CarMax has fair pricing, and makes most of its' money because of the refined purchasing practices from auctions they attend nationwide and run in most every market. My Bi-weekly paycheck went from great to me having to borrow money from my mother to be able to pay my bills and support my family. 9.6k. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. She had to get a car because she got a new job. Western Union You may go to any Western Union location to have your payment sent to us. I would stay with low mileage used vehicles. and "I've seen it work out very badly for most people when they get a co-signer, I wouldn't recommend it." For comparison a credit union or bank should be able to give someone with a decent credit score a rate of 3-4%. They don't however have the best prices. Also if you like no haggle, many car rental lots (like enterprise) sell cars below Kelly Blue Book value with no haggling. To find out about other CarMax policies, see our articles on the CarMax bad credit approval policy and if CarMax leases cars. Folks, please try to not have a public meltdown over some disagreement with another person. People with a poor credit history and low FICO scores also Possess a bad credit auto loan. 98% of the time they turn you down. More Information. If it isn't, shop somewhere else.Carmax isn't bad, just get out side financing. I told her seems really not good, and she agreed, she didn't feel very good about the whole transaction. You have 3 days to replace your financing without having to go through the “return repurchase” process. Just do your research ahead of time. My girlfriend's car finally bit the dust mechanically, and it would be about $1200 to get it fixed when it Bluebooks for about $300. YMMV. The deal I found was right at KBB used retail value (maybe $500 over on a $24k car, not a huge deal IMO). You’ll want to think twice before working with a buy-here, pay-here dealership. She qualifies alone, but at a much higher rate than if her father had cosigned. My friend used to work at carmax and told me it is very hard to get financed through them if you have bad credit / low scores. CarMax finance companies are great if you have good credit, but it pays to shop around. Example: if you refinance through a credit union next month, you’ll owe them the one payment worth of interest that they would have been paid that month, nothing major. She knows her credit score/history isn't great, somewhere in the 650s, so she asked her father (who lives halfway across the country, as do I, so I haven't been with her in person for any of this) to co-sign for her, as CarMax told her over the phone that he can co-sign and make a down payment by just being on the phone to verbally agree and go into his local CarMax and sign papers and make the down payment. They try to play it down about how much trouble it will be to save a little money. Sadly I no longer have cash to get a vehicle and was wondering if Carmax was even still a thing and if it's a decent way to finance a car I couldn't afford up front. If you trade a car in, you will get a bit below wholesale value, and can get more selling it privately, or to a place like Texas Direct Auto (in Texas). reddit carmax. … The Bad. If they budged on price, that would amount to negotiating on price. A friend of mine was offered their "best financing" with a rate of around 6%. You can also pay cash or get your own financing somewhere else. A lot of the cars they have are bought from rental agencies like Hertz and Enterprise. If it isn't, shop somewhere else. I went to several 'big' dealerships, as well as some small "used car lot" ones. Cars can be returned for any reason and returns are said to be “hassle-free,” according to the CarMax website. They tend to have lower mileage, high quality cars. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. She got an extended warranty and the total cost of the car was $14000. The DP is going to be about 2k-2.5k. The plan was to build her credit and refinance. This. Why would carmax be different than any other lot? Below, we detail how a bad credit score affects your chances of securing financing through CarMax or at a similar car dealership. A couple of days ago as in ‘the last day of April’? Carmax doesn't negotiate on price. You can add a co-buyer to your pre-approval application or finance application. You can test drive the car before you buy it. Thanks. Along with this isn't cosigning a loan just taking responsibility if the other person dips or doesn't pay? It does depend on how bad though. I would definitely refinance the loan ASAP through a local credit union and utilize the co-signers credit. Cookies help us deliver our Services. Side note... did you find out what the rate difference was with vs without co-signer? So what you find yourself paying is a prime per month fee you cannot take care of. Just wanted to clear that up after she corrected me. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. EDIT: For clarification, its actually a 2017 with 47k miles. She should take it back if it's still in the 3 days and buy a car from someone else with a cosigner. Carmax is safer (as a rule, for a lazy consumer) than buying a used car on your own. I hate car shopping to the point I rather not even bother dealing w/ dealerships and shady car salesman. I've never heard of a dealership advising against a co-signer. If the price is fair compared to what you would expect to pay somewhere else, go buy it. Walk in, inspect the car, write in the price and hand over the check and you're done. 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