CarMax, Inc. announced the national launch of its pre-qualification capability – a new online financing experience that empowers customers with the ability to shop CarMax vehicles nationwide with personalized financing terms, with no impact to their credit score. Pre-qualified customers will know their terms on vehicles across CarMax's inventory within minutes, including monthly payment and APR. In the current economic environment, inflation and rising interest rates continue to be top of mind for many consumers.

With CarMax's pre-qualification capability, used car shoppers can know what they can afford from the beginning of their journey and feel confident they are on track to find the right car that fits both their needs and budget. The experience is available on CarMax.com and the CarMax mobile app. Once pre-qualified, customers can use their pre-qualification to shop on CarMax.com with their personalized finance terms, adjusting filters like down payment to see how it impacts their terms, or filter to show only vehicles that meet their personalized monthly payment budget.

CarMax's new pre-qualification capability has the following features and benefits for customers: Pre-qualification decisions come directly from multiple lenders and are personalized for each customer based on their credit profile, with approximately 95% of customers receiving approvals; The process is fast and convenient, with most customers getting results in minutes across CarMax's entire nationwide inventory; Save time and search efficiently with budgeting answers upfront and the ability to sort and filter vehicles using personalized monthly payment and down payment options; Soft credit inquiry with no impact to credit score. The new pre-qualification capability is also integrated with CarMax's “Compare Feature,” which allows customers to see their monthly payment alongside different car features of their favorite vehicles for which they're pre-qualified. Customers have access to personalized results to see how each of their top vehicle choices fits both their budget and style.