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Fees
Late fees and shipping fees vary
Regular Annual Percentage Rate (APR)
from 4.00%
Fees
Late fees and shipping fees vary
Regular Annual Percentage Rate (APR)
from 4.00%
Details
Regular Annual Percentage Rate (APR)
from 4.00%
Fees
Late fees and shipping fees vary
Pros & Cons
Highlights
Pros and cons of CarMax car loans
Insider’s Preferred Auto Loan
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Auto Loans
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Start an Auto Refinance
CarMax is best for borrowers who want to complete the car buying process from the comfort of their homes. The company makes it easy for you to choose a car online, finance it, and ship it to you.
However, if you don’t want a used car, CarMax isn’t the right choice for you — it doesn’t offer new cars, refinancing, or lease purchases. Additionally, borrowers in nine states cannot get a loan from CarMax.
How to compare CarMax car loans
How CarMax compares
Editor’s Rating
Regular Annual Percentage Rate (APR)
from 4.00%
Editor’s Rating
Regular Annual Percentage Rate (APR)
3.90% to 27.90% APR
Editor’s Rating
Regular Annual Percentage Rate (APR)
Starting at 3.50% APR
Chase has an undisclosed minimum credit score that applies, while Carvana and CarMax do not have a set minimum score that they consider. It may still be worth applying to Carvana and CarMax even if your score isn’t high.
You can’t buy your lease or refinance with Chase, and you can only get a used car at Carvana and CarMax.
Check out our rating methods for car loans »
Frequently asked questions
CarMax has an A+ rating from the Better Business Bureau, a nonprofit organization focused on consumer protection and trust. The BBB evaluates businesses by looking at their responses to consumer complaints, honesty in advertising, and transparency about business practices.
CarMax has not been involved in any recent controversies. You can feel comfortable getting a car from CarMax with its excellent BBB rating and clean history.
It may be easier to get a loan from CarMax than from another lender, as it is accessible to borrowers with bad credit. That said, you are more likely to qualify for financing if you have a higher credit score.
CarMax offers financing through several different methods, including CarMax Auto Finance, its captive lender (also known as an in-house lender). The company also partners with several third-party lenders, including Ally, Chase, and Wells Fargo.
