Skip to content
SuperMoney logo
SuperMoney logo
Auto Loans
Auto Loans
1 more
Advertiser Disclosure

Last Updated: 04/18/2025

CarMax Auto Loan

from CarMax Enterprise Services LLC

Last Updated: 04/18/2025

CarMax Enterprise Services LLC logo
Rating not yet determined1 total votes
1 users recommend

Explore a similar product

Try this top product in Auto Loans

Consumers CU Auto Loan logo

Consumers CU Auto Loan

Strongly recommended8 reviews
Visit Site

Community Recommended Products

View All
Consumers CU Auto Loan logo
Strongly recommended8 Reviews
Learn More
Auto Credit Express Auto Loan logo
Strongly recommended10 Reviews
Learn More
Auto Approve Auto Lease Purchase logo
Mostly recommended7 Reviews
Learn More

Get Competing Auto Loan Offers

Compare auto loan offers from multiple vetted lenders.

Compare auto loan offers from multiple vetted lenders.

Discover your lowest eligible rate in minutes.

Discover your lowest eligible rate in minutes.

See how much you qualify for and what your monthly payment will be.

See how much you qualify for and what your monthly payment will be.

Get Personalized Rates

It's quick, easy, and won't hurt your credit score.

Highlights icon

Highlights

Amount Range

$500 - $100,000

APR (Variable APR)

4% - 20%(Verified 06/21/2024)

Credit Score Range

580 - 850

Loan Term (Months)

24 - 72
Speech bubbles icon

CarMax Auto Loan Review

CarMax Auto Loan is offered by CarMax Enterprise Services LLC, a nonbank financial services provider founded in 1993 and based in Richmond, VA. CarMax Auto Finance are available in 50 states and Washington, DC.

CarMax Auto Finance FAQ

How much can you borrow via CarMax Auto Finance?

CarMax Auto Finance loan amounts start at $500 and go up to $100,000.

What APR does CarMax Auto Finance offer on its car loans?

CarMax Auto Finance offers a variable APR car loan product that ranges from 4% APR up to 20% APR.
Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum auto loan term you can get with CarMax Auto Finance?

CarMax Auto Finance has car loans with terms ranging from 24 to 72 months. Having the option of longer terms -- some lenders offer terms that range up to 144 months -- allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your auto loan, the more interest you will pay.

Does CarMax Auto Finance charge an origination fee?

Yes, CarMax Auto Finance may charge a loan origination fee .

Does CarMax Auto Finance charge a late fee?

Yes, CarMax Auto Finance charges borrowers with a late payment penalty fee

Does CarMax Auto Finance charge prepayment fees?

Yes, CarMax Auto Finance does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my CarMax Auto Finance loan?

Yes, you can. However, CarMax Auto Finance charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for CarMax Auto Loan?

Applicants with a credit score of at least 580 and up to 850 may be eligible for CarMax Auto Loan. The minimum age to be eligible is 18 or the state minimum, whichever is higher.
CarMax Auto Loan does not have or does not disclose a minimum annual income eligibility requirement. Note that borrowers can add a cosigner or a co-borrower to either meet eligibility requirements or qualify for lower interest rates.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by CarMax Auto Loan.
To qualify, applicants may need to provide the following documentation:
  • Proof of income
  • Proof of insurance
  • Driver's license or other government photo ID
  • Government issued photo ID
  • Proof of identity

Does CarMax Auto Loan report your account activity to credit bureaus?

Yes, CarMax Auto Loan reports to the following credit bureaus:
  • Equifax
  • Experian
  • TransUnion
Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help build your credit.

Does CarMax Enterprise Services LLC perform a hard credit pull?

Yes, CarMax Auto Finance performs a hard credit pull when you apply for a loan. Additionally, it doesn't provide the option to check your rates using a soft credit pull, a feature that many lenders offer.
Click here to get prequalified rates from multiple leading lenders without a hard credit pull. However, if you accept a loan offer, a hard credit pull will likely be performed.

Is CarMax a legit company?

CarMax was founded in 1993, it is a well-established company that has been in business for 33 years.
Unfortunately, we don't have sufficient community reviews to provide a reliable rating of their user experience and customer service.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Headquarters

12800 Tuckahoe Creek Pkwy
Richmond, VA 23238
(800) 925-3612
Visit Site
Email Support

Hours of Operation

Sunday
11:00AM - 7:00PM
Monday
10:00AM - 9:00PM
Tuesday
10:00AM - 9:00PM
Wednesday
10:00AM - 9:00PM
Thursday
10:00AM - 9:00PM
Friday
10:00AM - 9:00PM
Saturday
9:00AM - 9:00PM

Other Services by CarMax Enterprise Services LLC

Community Recommended Products

View All
Consumers CU Auto Loan logo
Strongly recommended8 Reviews
Learn More
Auto Credit Express Auto Loan logo
Strongly recommended10 Reviews
Learn More
Auto Approve Auto Lease Purchase logo
Mostly recommended7 Reviews
Learn More

SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

+100

-1000+100
No one recommends
Everyone recommends
The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

CarMax Auto Loan Community Reviews

Would you recommend CarMax Auto Loan to your friends?

CS

Colin S.

Jan 24, 2023

May or may not recommend

When I got my first car it was through this loan. I was able to achieve a relatively low APR and get the car that I needed to make it to work. They were helpful and accept credit scores in a rather low range which may be necessary for certain people.

Showing 1 of 1 reviews

You might also like

Browse Auto Loans

Oklahoma Central CU Personal Watercraft Loans
Homebase Federal CU CAMPER & RV LOANS
Oklahoma Central CU Tractor Loans
Homebase Federal CU BOAT LOANS
Homebase Federal CU Motorcycle Loans
REV Federal Credit Union Auto Loans
REV Federal Credit Union Watercraft Loans
REV Federal Credit Union Motorcycle Loan
Coastal1 Credit Union Auto Loans
CS Credit Union Auto Loans
CS Credit Union Recreational Vehicle Loans
Alpena Alcona Area CU Auto Loans