You can often get a car from CarMax with no credit as CarMax does not have a minimum credit score required to finance a car through them.
You might need to put a higher down payment on the car through CarMax if you don't have any credit or you might need a cosigner in some cases.
To finance a car with CarMax you will need to have a valid license or ID, proof if income, proof of residence and proof if insurance.
CarMax checks your income and asks for proof of income when you finance a car through them.
Checking of your income and asking for proof of income is standard practice for most car dealerships to verify that you have the ability to repay the loan.
When buying a car through CarMax they often ask for bank statements, tax returns and even pay stubs to confirm your income.
Proof of income is a key factor that lenders including auto loan lenders use to assess their risk of lending money to you and it helps the lender determine if you can afford the month payments.
There's no minimum credit score for CarMax as CarMax instead aims to work with all borrowers and car buyers regardless of their credit score.
CarMax though uses the FICO score system and as long as you have a 670 to 730 credit score or higher you can in most cases qualify for a car through CarMax.
CarMax is more expensive than dealerships, which is mainly a result of the no haggle pricing policy that CarMax has and their emphasis on providing of a convenient and transparent buying experience.
CarMax tends to cost around $2,000.00 to $5,000.00 more than a regular car dealership but you don't have to haggle and you can also feel more confident.
CarMax is better than Carvana when it comes to buying a vehicle as CarMax provides you with a more traditional and in person experience with physical locations and also gives you the ability to test drive vehicles before buying.
Carvana is also good and excels in online convenience and possibly lower prices due to reduced overhead expenses.