Carmax auto finance continues to navigate competitive
CarMax Auto Finance continues to navigate competitive pressures from online auto lenders. Analysts forecast modest originations growth in Q1 2024, supported by CarMax’s broader omni-channel retail strategy and disciplined underwriting. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. To get the most favorable financing terms when buying a car, you'll need a credit score of at least 670, which is considered "good" credit. That said, it's not impossible to get approved for a car loan even with bad credit as specific requirements vary by lender. The used car sector’s softening retail demand continues to influence CarMax Auto Finance’s lending volume. While gross profit per unit has marginally improved, Wall Street anticipates mid-single-digit earnings growth contingent on the broader consumer credit environment.
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