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CarMax, Inc. is a used vehicle retailer based in the United States. It operates two business segments: CarMax Sales Operations and CarMax Auto Finance. The company began as a side business of Circuit City, opening its first location in September 1993 in Richmond, Virginia. As of October 2022, CarMax operates 238 locations. [3]
Chapter 13 bankruptcy does not put your vehicle at risk, and you will continue to make payments under a modified loan agreement. If you are behind on your auto loan, you may be able to reaffirm or ...
CarMax's fiscal 2025 first-quarter earnings fell year over year, but the used car dealer's business is still more attractive than Carvana's.
Even after your bankruptcy file gets discharged, some lenders might require you to wait an additional 12 to 24 months to apply for an auto loan. How Bankruptcy Affects Your Car Loan Eligibility
In April 2009, TitleMax Holdings, LLC, filed for chapter 11 bankruptcy. [5] According to TitleMax’s lawyer at the time, the cause of the default was attributed to “the maturity of an estimated $165 million loan from Merrill Lynch & Co.” [5] In 2008, Bank of America acquired Merrill Lynch. [6]
DriveTime is a private company headquartered in Tempe, Arizona. [3] The company's business model is focused on selling previously owned vehicles to car-buyers. [4] It uses a proprietary credit scoring model to finance car purchases at its dealerships in-house, [5] [6] including subprime lending.
Bankruptcy is designed to give filers a fresh financial start. Depending on the type of bankruptcy you pursue, many of your outstanding debts will be addressed through a payment plan or paid off ...
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.