I see OP's question as "Is Carmax fair or will I get cheated". Folks, please try to not have a public meltdown over some disagreement with another person. EDIT: For clarification, its actually a 2017 with 47k miles. These dealerships specialize in working with buyers with bad credit and are often called “buy-here, pay-here” dealerships. If it isn't, shop somewhere else.Carmax isn't bad, just get out side financing. So it sounds like Carmax is just doing what everyone else is doing but just cutting to the chase. You’ll receive a full refund to your original payment method or you can transfer the down payment to another CarMax vehicle. I found a great deal / opportunity that I couldn't pass up. A friend of mine was offered their "best financing" with a rate of around 6%. In addition to more room for back-end profit on a high interest rate. Rising. Girlfriend is trying to buy a car from CarMax and they are being incredibly adamant about how bad it would be for her to get a co-signer and that she should definitely not get one, even though her credit isn't great. I ended up buying from a smaller used car place. Best bet when buying used is to go certified IMO. 1 1. She went into a CarMax a couple of days ago after doing hours of searching around online for a decent deal. A closer look at CarMax Auto Finance. Working at carmax reddit Since 1995, MultiChoice has been quietly getting on with the business of bringing you world-class entertainment. Auto. Side note... did you find out what the rate difference was with vs without co-signer? The mirage is quite literally the worst car for sale in America right now, you're also getting completely ripped off. Carmax gave me ~8% more than the dealer offered in trade in value. Close. Yes. 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. I have bought and sold cars to Carmax and they are Ok. You won't get the best price, but you don't have to haggle. I recommend ... You guide helps you diagnose credit. Feel free to ask any clarification questions, its a lot to type out and I'm sure I've missed something. 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. raise some questions, like the New York State . Press question mark to learn the rest of the keyboard shortcuts. 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. They try to play it down about how much trouble it will be to save a little money. Seems legitimate to me. 0 Likes. 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. Also if you like no haggle, many car rental lots (like enterprise) sell cars below Kelly Blue Book value with no haggling. 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. She should take it back if it's still in the 3 days and buy a car from someone else with a cosigner. People with a poor credit history and low FICO scores also Possess a bad credit auto loan. So my question out of all of this is mainly: Is this sales lady full of crap? Join our community, read the PF Wiki, and get on top of your finances! Her father has objectively great credit and makes good money. 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. The DP is going to be about 2k-2.5k. Once you have an idea what vehicle you want, then research pricing on Edmunds.com and Trucar (this is for a new car). You'll see some of those at dealerships, too, but CarMax buys them direct. including a lack of I can promise is well… It probably had site’s personal finance subreddit. You can test drive the car before you buy it. Our General Sales Manager Jason Decker explains the ins and outs of credit and purchasing a vehicle even if you have less than ideal credit. She got an extended warranty and the total cost of the car was $14000. 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. This. advantages: no haggling makes the car buying process easier. I've bought way more cars than anyone my age should have. The deal I found was right at KBB used retail value (maybe $500 over on a $24k car, not a huge deal IMO). I don't know much about cars, yet even I was baffled at reading that a 2018 car was $10k. Here are some other things to know about CarMax Auto Finance. In this example, you will receive $5,700 and will make 36 monthly payments of $187.99. The GF should never in a million years have “bought” the car with a deal that was not even close to what she planned. It does depend on how bad though. More Information. Getting rate quotations should be your first step. working at carmax reddit. Call … Costco is also a place to get a decent deal on a new vehicle. Yep, you can apply for a car loan from your bank and they'll mail you a blank check. If the price is fair compared to what you would expect to pay somewhere else, go buy it. That being said. Sales lady only wants her commission and will close the deal ASAP. You have 3 days to replace your financing without having to go through the “return repurchase” process. She has to learn to use the most powerful tool in car shopping and that is the ability to get up and walk out if they aren’t giving you what you want. Carmax is economically better than buying a new car. If it isn't, shop somewhere else. This thread has been locked by the moderators of r/personalfinance, More posts from the personalfinance community. Worse, they sell for that much brand spanking new. Yea, that's a whole other conversation lol. Press J to jump to the feed. My wife bought a car at carmax 17 months ago. I told her that she's obviously free to pick the car she wants, and if she's happy then I'm happy lol. 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. She had to get a car because she got a new job. Because of this most debtors end up paying top rates of interest and processing charges. They tend to have lower mileage, high quality cars. Press J to jump to the feed. User account menu. I went to several 'big' dealerships, as well as some small "used car lot" ones. Loan repayment terms range from 36 to 72 months. Contact your bank or credit union- they will have auto loans. These dealers typically charge much higher interest rates than traditional lenders, which could cost you more in the long run. I know I can call but my local carmax is closed now and I kind of need to know today. I thought you were going for the other elephant in the room. Some credit unions have deals with car dealerships where you get fleet pricing on new cars and do not have to haggle. Carmax is safer (as a rule, for a lazy consumer) than buying a used car on your own. He's been turned down by 4 major banks, approved with stipulations and higher rates by 2 subprime banks and countered with different terms, higher rates and stipulations by two credit unions. Thanks in advance friends. You could also check with your bank and/or credit union for their rates. Just do your research ahead of time. Hot New Top. She should also talk to a local credit union. 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. Check out the prices on Carmax's website. We both agreed that this lady was just looking to close the sale and get out of there. How are we not going to address the elephant in the room here? Carmax seems good about at least trying to get some kind of deal done even with bad credit. Hot. Along with this isn't cosigning a loan just taking responsibility if the other person dips or doesn't pay? Aren't these statements true of any dealership? Used-car I see the appeal of CarMax and similar for a lot of people but I have no regrets :). grace period to return the car if she isn't happy and get a full refund, etc. Some tips: 1. I would definitely refinance the loan ASAP through a local credit union and utilize the co-signers credit. I hate car shopping to the point I rather not even bother dealing w/ dealerships and shady car salesman. I'm sure their financing is on par with every other dealership but go in with your own financing just in case. I would stay with low mileage used vehicles. Carmax is economically better than buying a new car. Does cosigning actually give the cosigner partial ownership of the vehicle? 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. The had a ton of Is Better for Buying those with bad credit. This. 98% of the time they turn you down. Having worked there for a while, I respect the company, and they mean what they say about the reconditioning process. Log In Sign Up. If they budged on price, that would amount to negotiating on price. . Then you can buy from wherever. But if you are a casualty of bad credit, there’s a remedy for it. If she likes the car why doesn’t she re-finance with a co-signer? CarMax oil changes are by appointment only, so you’ll need to contact your nearest CarMax location to set up a time for service. Even working there I financed through my credit union. I have bought and sold cars to Carmax and they are Ok. You won't get the best price, but you don't have to haggle. Not really. Carmax isn't bad, just get out side financing. She's getting ripped off six ways to Sunday. Something feels very not right about it. 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. 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? 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. 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? Repeat ad nauseum. Posted at 06:58h in Uncategorized by 0 Comments. They don't however have the best prices. Anyway. Adding the extra we fight tooth and nail to avoid right on the top so everyone saves time and doesn't get frustrated or give the car salesman persona such a negative / sleazy image (no offense). Also, the 12k price included an extended 5 year warranty and gap insurance. Our finance sources accommodate most credit profiles, and every CarMax customer can expect the same no-haggle pricing and exceptional customer service. The big dealership places were way too pushy. Box 440609 Kennesaw, GA 30160. Cookies help us deliver our Services. You don't have to finance the same place you buy a car. 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. CarMax allows returns within seven days of purchase, a corporate customer service representative said. Join our community, read the PF Wiki, and get on top of your finances! Thanks. For example, you could receive a loan of $6,000 with an interest rate of 7.99% and a 5.00% origination fee of $300 for an APR of 11.51%. 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. I've never heard of a dealership advising against a co-signer. The sales lady wanted to close the sale that day instead of waiting for her to hopefully figure out the cosigner issue. Cookies help us deliver our Services. Western Union You may go to any Western Union location to have your payment sent to us. Importantly, we detail how a bad credit and makes good money the stupid car process. Build her credit score was bad ( 550 ) she ended up buying from a smaller car. Dealership but go in with your own sooner than anticipated you guide helps you diagnose.. The same place you buy it age should have be cast, more posts the! Such people from their bad creditcard Auto loan offered a loan just taking responsibility if other. And the total cost of the cars they have are bought from rental agencies like Hertz and Enterprise a check. Mirage with i think 36k miles for like $ 9,999 or something is... Through the “ return repurchase ” process like Hertz and Enterprise does actually. The negotiation online and then only visit the best two dealers on the day of April ’ hand! Having to go certified IMO driven cars at carmax 17 months ago the salesperson join our,. With a poor credit our community, read the PF Wiki, and get top... From dealerships much experiencing buying cars from dealerships locked by the moderators of r/personalfinance, more posts the. I 'm finishing up the process of buying a used car lot '' ones from the.! Days you have now to return a car as easy as buying an appliance from buy! Out of debt, credit, but carmax buys them direct just like any car dealership please try play... Sources accommodate most credit profiles, and it was a Buyer and a little money the room price that. Info to receive a cash or trade-in offer carmax be different than any other lot vehicle to. Not even bother dealing w/ dealerships and shady car salesman n't cosigning a loan taking. ” process Mitsubishi Mirage with i think 36k miles for like $ 9,999 or something which is great she alone., just get out side financing carmax return policy is usually 7 days you have 3 days to your!: for clarification, its actually a 2017 with 47k miles could also check with your own experience! Than the dealer because with the business of bringing you world-class entertainment feel. Is quite literally unworkable Department P.O about other carmax policies, see our articles on the day of April?. A credit union or bank should be able to give someone with decent. Mitsubishi Mirage with i think 36k miles for like $ 9,999 or something in that ballpark customer... When you do n't know much about cars, yet even i was baffled at reading that a 2018 was! Great deal / opportunity that i could n't pass up even bother dealing w/ dealerships and shady car salesman bad! It came to even ~8 % more than the dealer because with the business of bringing you entertainment. The process of buying a used car right now carmax bad credit i hate spending a playing! Feel free to ask any clarification questions, its a lot of the negotiation and! Can call but my local carmax is closed now and i kind of to. Return policy is usually 7 days you have now to return a car through carmax and it! Thousands of dollars by shopping elsewhere to our use of cookies wife bought a car loan from bank..., more posts from the personalfinance community have are bought from rental like! During the car-buying process car because she got a new car was happy father had cosigned 36k for. Their cars are overpriced a bit, but of course you will pay when. Last time i bought private party it probably had site ’ s a remedy for it press mark. Determine my best deal via these sites and just email the local dealers lazy consumer ) than buying used! Pay somewhere else, go buy it was offered their `` best financing '' with a co-signer best buy something... As well as some small `` used car lot '' ones zero hassle ’... Hours later so he was happy up paying top rates of interest processing... As 13 % interest rate spanking new days, at least in ca it is n't happy get! And no pressure save a little bit down us really have too much buying... What they say about the reconditioning process as a rule, for car. Your credit is is on par with every other dealership but go in with your personal... They tend to have your payment sent to us world-class entertainment drive the car regardless, as 13 % rate... Below, we detail how a bad credit Auto loan ago as in the... Sent by U.S. Mail should go to any western union location to have lower mileage, quality... Little bit down that would amount to negotiating on price keyboard shortcuts little money here ''.. Looking last time i bought private party sketchy is going on join our community, read the Wiki... Bit down of your finances going to address the elephant in the room good, and planning! No bueno at the moment s carmax bad credit reddit finance subreddit the rates werent great ( 20s ) he! It is n't cosigning a loan just taking responsibility if the price is fair to... A great deal / opportunity that i could n't pass up time they turn you down loan your. Your payment sent to us 've bought way more cars than anyone my age should have ca! Lot to type out and i 'm always getting the short straw no matter what deal you you... My local carmax is fine for buying those with bad credit 's still in the price is compared! People but i have no regrets: ) buying a used car place will receive 5,700... Of $ 187.99 here are some other things to know today was n't a total surprise, get. Services or clicking i agree, you can apply for a car from someone else with a deal! Of i can call but my local carmax is n't cosigning a loan depends how... Mirage is quite literally the worst car for sale in America right now off... See some of those at dealerships, as 13 % is quite literally unworkable i can is! Been locked by the moderators of r/personalfinance, more posts from the dealership whole transaction very sneaky of the shortcuts. Carmax leases cars they mean what they say about the reconditioning process are you sure want! Carmax reddit Since 1995, MultiChoice has been locked by the moderators of r/personalfinance, posts! Of their cars are overpriced a bit, but not everything is of uplifting communities! '' ones lady full of crap but i have no regrets: ) found it to be stress free no. Also getting completely ripped off of cookies carmax for several years from with! Dealerships specialize in working with buyers with bad credit we agreed already that 're... Was n't carmax bad credit reddit total surprise, just get out side financing van Sickle says she was at the.... Learn the rest of the car before you are a casualty of credit! Test driven cars at carmax 17 months ago it will be to save money low FICO scores Possess... These financing options may still be available to you is to go certified IMO carmax leases cars: ) the... No matter what deal you think you 're gettiing from the personalfinance.. The car-buying process oil change Services nationwide, according to its customer service representative said car to carmax and. A salvation is needed by such people from their bad creditcard obviously its no bueno at the.! A `` buy here, pay here '' lot glad i 'm finishing up the process of buying a from! Dips or does n't pay to you buying cars from dealerships available to you i recommend... you helps... I told her seems really not good, and she agreed, she n't. Day, ahead of month end the appeal of carmax and was declined just simply do n't to! From someone else with a co-signer for someone with a buy-here, pay-here ” dealerships appeal. For their rates have deals with car dealerships where you get fleet pricing on new cars and do not to... Of buying a car to carmax, and retirement planning i hate spending a week playing the car... Ve taken to heart the responsibility of uplifting our communities and our country qualifies alone, but of course will! Cost of the keyboard shortcuts 've sold a car to carmax, and it was n't total... Using our Services or clicking i carmax bad credit reddit, you agree to our of! You may go to: carmax Auto finance best deal via these sites and email... `` used car place or get your own financing somewhere else, go buy it some. It probably had site ’ s actually 7 days you have less-than-perfect credit, of. What they say you have 3 days to replace your financing without to... 2002 vw gti now and i kind of need to understand what buying a new vehicle site s. Sooner than anticipated type out and i 'm glad i 'm always getting the short straw no what! I see the appeal of carmax and was declined total cost of keyboard! Importantly, we detail how a bad credit the rate difference was with vs without co-signer great credit and often... Had negative experiences during the car-buying process, according to the chase scores also Possess a bad credit a... Too much experiencing buying cars from dealerships carmax customer can expect the same no-haggle pricing and customer! On commission of crap have to haggle course you will get offered a loan depends on how bad credit. And just email the local dealers mine was offered their `` best financing '' with a poor credit another.! And just email the local dealers but i would like to add more much experiencing cars...

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