Quick question about Carmax financing. Please Help!

[Creditorated]

I'm trying to buy a car from Carmax.

I am self employed and make nearly 80K a year. My credit is only 1 year and a half old with about 630 Auto Enhanced FICO score.

I am trying to buy a car that is for 30K after tax. I'll be putting down 12K as down payment. As I don't have any installment loan history, I tried about 10 different lenders including the bank that I have my checking and saving with. They all turned me down.

But! I found the car that I was looking for at my local carmax and dropped by today. Car is in good shape and I asked the sales man to run my credit and surprisingly after he submitted my info it showed that I am approved for 2.45% for 60 months.

I didn't sign anything YET but I remember seeing a post and people saying that after they drove out a car from carmax's lot, some of them got a call from Carmax from a week or later saying that their loan was not approved and need to take their car back.

I know my credit is bad and it has A LOT of inquiries and super THIN history. I checked with my sales man to check if it is 100% approved and good to go and he said it is good to go. He didn't even ask for my proof of income or any of my tax documents.

Should I go for it? Any comment would be appreciated deeply.

[kaylord84]

I have a auto loan with Carmax . you should be good to go the salesman at Carmax are not paid base off the rate they give but per car they sell. Ask the salesman to show you the  offers on the computer screen he will with no problem good luck.

[Creditorated]

So I bit the bullet and took the car home today.

I asked their manager and confirmed that everything looks good and you're good to go.

But I still feel like the car isn' mine yet because of that financing that I'm worried about. I got my score with 645 Experian FICO. I would have to call Carmax Financing to confirm in couple days. 

[kaylord84]

Your gonna be ok .congratulations