How to Finance A Car Using Carmaxby Lindsey Thompson
Choose a car.<p>Using the CarMax <strong><a href="http://www.carmax.com/enus/car-search/default.html">vehicle search tool</a></strong>, you can view available cars that fit your criteria. When you find a car you like, click on the "Get Financing Info" link on the right side of the page. The link will take you to a separate page where you provide your name, email address and phone number, and a sales consultant will email or call you back within 60 minutes to answer your questions.</p>
The CarMax website features a payment estimator to help you figure out what your monthly payments would be based on the down payment amount, current annual percentage rates and vehicle price.
Submit an application.<p>When you decide on a vehicle, you can visit your nearest <a href="http://www.carmax.com/enus/locations/default.html">CarMax store</a> to apply for financing or call your local store to apply over the phone. The application asks for:</p> <ul> <li>Personal information such as your name, address and phone number.<br></li> <li>Income information including length of time at current job and current salary.<br></li> <li>Housing situation such as whether you own or rent, your monthly mortgage or rental payments, and your length of time at current residence.</li> </ul>
If you apply over the phone, you'll still have to visit a local CarMax store to complete the transaction and provide needed documentation.
According to CarMax, it can offer financing to people with all different levels of credit, from poor to excellent.
Pick your offer.<p>Once approved, you'll receive several financing offers with varying down payment amounts, loan lengths and monthly payments. Pick the one that best suits your financial situation.<br></p>