Can I get financed through CarMax even with bad credit?
Will CarMax give me financing even if my credit score is 550?
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Answered on Jun 29, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“CarMax works with many customers regardless of credit, and they’ve been known to work with people who have bad credit.
Keep in mind that other factors may impact your approval, such as:
- your debt
- your income
- the age of the vehicle you’re applying for
- your down payment
If CarMax can’t approve you, they also partner with lenders such as Ally, Capital One, Wells Fargo, and Chase to get the financing you need.
You should also shop around for rates at banks and credit unions on your own to make sure you get the best rate, and so you have a basic idea of what your interest rate might be.”
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