Carmax?

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@CJIII29 wrote:

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

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I intended to put NOTHING down, but did $500. They can work with many different credit situations. Again, I was very impressed with their process and would recommend - and will most likely purchase there again. 

 And about their pricing, make sure you check Kelley Book Book or NADA for the "fair" price, and see what just local dealers are selling a comprobable equipped vehicle your interested in is going for. I did, and Carmax came under in each instance. And just don't limit yourself to your local Carmax, any within 300 mile raduis will ship a vehilce to your local one free, charges beyond that. How I got mine , found it cheaper in an adjacent state.

[Dj4Money]

  We'll see how things work out over the next few days.

  My local CarMax doesn't have what I want but other locations do. 

 I also intend on not putting anything down and just won't or I'll walk. 

[Creditaddict]

While at a normal dealership a walk away may get you something they don't care... it's a computer system that decides it but it shouldn't be a problem as its pretty standard for no money down

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@Dj4Money wrote:

  We'll see how things work out over the next few days.

  My local CarMax doesn't have what I want but other locations do. 

 I also intend on not putting anything down and just won't or I'll walk. 

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As Creditaddict stated a no money down there shouldn't be a problem, I didn't have to if I didn't/couldn't do so at the time (this was just last week). Let us know how things work out for you .

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And BTW, it was the easiest car buying experience I ever had - save giving an old guy $800 for an old green Caddy years ago and just driving away....

[Dj4Money]

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@Unplug wrote:

And BTW, it was the easiest car buying experience I ever had - save giving an old guy $800 for an old green Caddy years ago and just driving away....

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@Unplug wrote:

And BTW, it was the easiest car buying experience I ever had - save giving an old guy $800 for an old green Caddy years ago and just driving away....

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  I have a question though -

 Dealers and Lenders are not using FICO 8 yet are they? If so it's 20-28 points lower than the score Logix pulled when I opened my account and lower than SDFCU pulled when I applied for an auto loan (630 and 639 respectively).

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@Dj4Money wrote:

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@Unplug wrote:

And BTW, it was the easiest car buying experience I ever had - save giving an old guy $800 for an old green Caddy years ago and just driving away....

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@Unplug wrote:

And BTW, it was the easiest car buying experience I ever had - save giving an old guy $800 for an old green Caddy years ago and just driving away....

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  I have a question though -

 Dealers and Lenders are not using FICO 8 yet are they? If so it's 20-28 points lower than the score Logix pulled when I opened my account and lower than SDFCU pulled when I applied for an auto loan (630 and 639 respectively).

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Good question, and outright I'm not sure(I'm sure someone on these boards has that answer). But this I can tell you, when I inquired if they (Carmax) used industry scoring(auto enhanced) was told "just straight FICO,as well as the other lenders"(those Carmax utilise). Most of my pulls were for TU - Well Fargo Dealer Services,Chase Auto, Steward Financial,Exeter Financial. For Experian - Carmax and Santander.  For me TU is my middle score ,get ready - at 552.  Experian is my "high" score , at 589. Yeah, I'm in the deep weeds, and they're an improvement from beginning of 2014.  I don't think you'd have anything to worry about , save the interest rate. Mine is at 15.9 , but I expected that , and it beat Roadloans which was at near 20(wasn't using it...). As my scores increase, will be looking to my CU to refinance.

My best to you in your endeavours 

[Creditaddict]

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@Unplug wrote:

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@Dj4Money wrote:

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@Unplug wrote:

And BTW, it was the easiest car buying experience I ever had - save giving an old guy $800 for an old green Caddy years ago and just driving away....

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@Unplug wrote:

And BTW, it was the easiest car buying experience I ever had - save giving an old guy $800 for an old green Caddy years ago and just driving away....

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  I have a question though -

 Dealers and Lenders are not using FICO 8 yet are they? If so it's 20-28 points lower than the score Logix pulled when I opened my account and lower than SDFCU pulled when I applied for an auto loan (630 and 639 respectively).

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Good question, and outright I'm not sure(I'm sure someone on these boards has that answer). But this I can tell you, when I inquired if they (Carmax) used industry scoring(auto enhanced) was told "just straight FICO,as well as the other lenders"(those Carmax utilise). Most of my pulls were for TU - Well Fargo Dealer Services,Chase Auto, Steward Financial,Exeter Financial. For Experian - Carmax and Santander.  For me TU is my middle score ,get ready - at 552.  Experian is my "high" score , at 589. Yeah, I'm in the deep weeds, and they're an improvement from beginning of 2014.  I don't think you'd have anything to worry about , save the interest rate. Mine is at 15.9 , but I expected that , and it beat Roadloans which was at near 20(wasn't using it...). As my scores increase, will be looking to my CU to refinance.

My best to you in your endeavours 

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They pulled EX and TU for my partner and I also when we bought our Prius and I believe used the EX scores for the approvals but we didn't even see our score until we were signing the purchase papers and the lady gave us a copy of the EX Fico score they pulled.

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They pulled EX and TU for my partner and I also when we bought our Prius and I believe used the EX scores for the approvals but we didn't even see our score until we were signing the purchase papers and the lady gave us a copy of the EX Fico score they pulled.

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Hi CA - Correct,as I noted they pull TU for WFDS,Steward, Exeter and Chase. Carmax and Santander use EX . And peeps (peoples) should always go in knowing their FICO scores 

Like you , I've taken a liking to Carmax! For purchasing only, not selling a vehicle to them. I actually went in with low expectations due in part to my previous experiences (twice) in their appraisal and vehicle purchasing. They generally lowball. Sold vehicles to dealers ,believe it or not, at TWICE their offers.

But would recommend them for buying a decent (and recent) used vehicle, and will buy there again. Peeps just need to "do their homework first"(know vehicle value,ect...)

[Creditaddict]

I'm actually shocked you at someone's better offers from the dealership sold three cars to Carmax it's simply a black wholesale off base on the last seven or 14 days at auction in your radius of area