Carmax?

[CJIII29]

I am planning on getting a Chevy Silverado from them.

[Creditaddict]

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@CJIII29 wrote:

I am planning on getting a Chevy Silverado from them.

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They also pulled our EX and a few of the lenders pulled a 2nd report too but on the cost of credit that we got when we signed the loan docs they gave us each EX scores (which was plus for both of us, ex are best!)

[CJIII29]

Would a downpayment of $2800 to $3000 get something from Carmax?

[Creditaddict]

When I bought my car from them the day after my bk updated to dismissed on my credit report, I put $1k down which covered the taxes on what I bought.

last month when we bought our prius we put $0 down... we carried $2k negative equity and $2300 in taxes and such over...

if you can put it down sure... but most likely you probably don't even need to put that much down if anything down... just depends... but of course more is always better but don't be thinking you can't buy until sort of thing.

[CJIII29]

I am going to save a downpayment just in case I need it. 

[Chrisla2077]

Personally,  I have to say I love CarMax. Yea, they are higher priced that most dealers, but if you don't like dealing with all that negotiating and blah, blah,...they are a relief.  To me..the extra money is worth the convenience of not getting the run-around. As I struggled with my credit...I went to CarMax w/ a Roadloans pre-approval...they still ran an application to see if they could beat it..sadly they couldn't...but I have to say ...the process was transparent and D*MN quick..compared to the hours and hours you sit at traditional dealers. I say give them a try..they can probably work something out for you.

[Anonymous]

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@Chrisla2077 wrote:

Personally,  I have to say I love CarMax. Yea, they are higher priced that most dealers, but if you don't like dealing with all that negotiating and blah, blah,...they are a relief.  To me..the extra money is worth the convenience of not getting the run-around. As I struggled with my credit...I went to CarMax w/ a Roadloans pre-approval...they still ran an application to see if they could beat it..sadly they couldn't...but I have to say ...the process was transparent and D*MN quick..compared to the hours and hours you sit at traditional dealers. I say give them a try..they can probably work something out for you.

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just curious, what apr did u end up getting with roadloans?

[Chrisla2077]

20.49...crappy...but in my situation it's all I could do.

[CJIII29]

I am going to try save around $3000 to $4000 for a downpayment.

[Unplug]

Know this thread is old but happened to see it, being I recently purchased a car at Carmax.   I have to say I was very impressed with the process, and I too walked in pre-approved with Roadloans for a near similar interest rate. Wasn't sure I was going to "pull the trigger" and actually use it until the sales rep told me they gerenally beat Roadloans in interest every time. And they did for me ,too by 3% points(with Santander ,of all lenders!). Sorry to learn they couldn't for you. You you did buy,you may want to look into joining a credit union(if you already don't belong to one) and refinance when your credit improves. I belong to one and that's my intent(they wouldn't touch me with my scores right now...).

Best to ya...