What credit score does CarMax® use?

CarMax® is an auto financing company that uses the FICO® Score. It specializes in buying and selling used cars, and you don’t need to buy from CarMax if you sell your car to them. You can get your car appraised by CarMax in person at one of their outlets or online. CarMax has one of the largest inventories of used cars, making it a good option for someone looking to purchase or finance a used car.

You can get the best auto finance options with a good to excellent credit score (670 and upwards) with CarMax. Some people with bad credit have also been approved for a loan from CarMax or one of their partner lenders.

A good credit score is not the only factor CarMax looks at when deciding to approve a loan. The company also reviews your income, down payment (which is not always required), employment status, loan term, car year, and loan-to-value ratio.

CarMax conducts pre-qualifications on loan applications so you can check the rates you may qualify for with your current credit score without a hard credit check, which can pull down your score.