Video answer: 3 things most people don't know about carmax
Top best answers to the question «Does carmax do a hard credit check»
You can do this by using the CarMax preapproval tool, which will initiate a hard pull on your credit. This can have a small negative impact on your credit report, and is a routine step in securing financing from almost any lender, though it may come later in the process with other lenders.
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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.
CarMax does not offer a certified pre-owned status for any of their vehicles. This is a warranty program that is offered by other dealers in the industry. Their program is quite similar, but it’s called the CarMax Quality Certified.
Re: Is the Carmax online prequal a HP? I purchased my 16 Silverado from them, It was a soft check online and will give you an estimate of how much you can shop for. When you go into the store it will be an HP and they will give you different APR% rates from different companies you are approved for. CarMax does not shotgun, ONLY if you change ...
While CarMax will run a credit check, it won’t decide to approve or deny based solely on your credit score. CarMax Financing Options Part of the reason CarMax can accommodate most credit histories is that it offers financing through several different lenders including Ally Auto Finance, American Credit Acceptance, Santander Consumer USA, Westlake Financial Services, and its own CarMax Auto Finance.