# Carmax Turned Me Away!



## Coachman (Sep 22, 2015)

I stopped into Carmax this morning in hopes of buying a new car.

I had a very nice salesman.

No cash? No problem!
Old clunker trade-in? No problem!
Bad credit? No problem!
Unsteady income? No problem!
You drive for Uber? Sorry, we can't help you!

Apparently all of their lenders automatically reject any application if Uber is involved. The salesman had some creative ways we could have done the deal but it all fell apart when he found out I had already put Uber down on the online pre-approval application.

I read this board regularly and have never seen this come up as an issue.

On to plan B.


----------



## Trafficat (Dec 19, 2016)

I went to a used car sales lot with a wad of cash and the saleswoman turned me away when I told her I was looking for my next Uber car. She told me I had to be able to prove reliable income to buy a car and Uber wasn't good enough. I told her I could pay in cash, and I was told it didn't matter. Apparently even our cash isn't good enough.


----------



## Cableguynoe (Feb 14, 2017)

Trafficat said:


> I told her I could pay in cash, and I was told it didn't matter. Apparently even our cash isn't good enough.


hahahahahahaha.
You were going to pay for it 100% cash? I guess your money isnt green enough. Also, she must not be on commission.


----------



## Trafficat (Dec 19, 2016)

Yep! I was going to buy with cash. I have a strong aversion to debt.


----------



## Coachman (Sep 22, 2015)

Well I already got turned down for a loan by Wells Fargo. But they didn't mention Uber as the problem.


----------



## tohunt4me (Nov 23, 2015)

Coachman said:


> I stopped into Carmax this morning in hopes of buying a new car.
> 
> I had a very nice salesman.
> 
> ...


Because

CAR. MAX KNOWS

WHAT UBER DRIVERS SHOULD FIGURE OUT.

UBER TAKES AND DOES NOT GIVE.

THEY EXPECT MONEY NOT CHARITY.

UBER DOES NOT PAY.



Coachman said:


> I stopped into Carmax this morning in hopes of buying a new car.
> 
> I had a very nice salesman.
> 
> ...


You can not replace what Uber Consumes with Uber Pay !

DRIVERS SUBSIDISE UBER !

UNSUSTAINABLE !



Trafficat said:


> Yep! I was going to buy with cash. I have a strong aversion to debt.


One single False Accusation, YOU will be jobless with no notice & no Recourse !

UNION !


----------



## Cableguynoe (Feb 14, 2017)

Trafficat said:


> Yep! I was going to buy with cash. I have a strong aversion to debt.


I don't understand why employment would even come into play on a cash deal


----------



## NCHeel (Jan 5, 2017)

It's not Uber as much as it is your bad credit. The lenders you qualified for have a high repossession rate. Driving Uber destroys a car's equity to payment ratio.


----------



## goneubering (Aug 17, 2017)

Trafficat said:


> I went to a used car sales lot with a wad of cash and the saleswoman turned me away when I told her I was looking for my next Uber car. She told me I had to be able to prove reliable income to buy a car and Uber wasn't good enough. I told her I could pay in cash, and I was told it didn't matter. Apparently even our cash isn't good enough.


This story makes no sense. A cash deal for a used car dealer is like chumming for sharks.


----------



## tohunt4me (Nov 23, 2015)

goneubering said:


> This story makes no sense. A cash deal for a used car dealer is like chumming for sharks.


True.
Perhaps he didnt tell them.
Bank Robbers, Contract Killers, Dope Dealers can buy cars @ cash.
Why not an Uber Driver.

Oh yeah, an Uber Driver HAS NO CASH !


----------



## Trafficat (Dec 19, 2016)

It made no sense to me either.


----------



## Awesomeness101 (Jul 19, 2017)

goneubering said:


> This story makes no sense. A cash deal for a used car dealer is like chumming for sharks.


Untrue. Many dealerships actually do not take cash because they only allow financing, this making more on interest long term.


----------



## tohunt4me (Nov 23, 2015)

Awesomeness101 said:


> Untrue. Many dealerships actually do not take cash because they only allow financing, this making more on interest long term.


No $ale


----------



## Coachman (Sep 22, 2015)

Good news. I got a loan. Approved up to $14,999.


----------



## ScandaLeX (May 15, 2017)

Coachman said:


> Good news. I got a loan. Approved up to $14,999.


In your 1st post you told us Carmax denied you but when you get approved you don't tell us by who or whether or not they accepted Uber for your income!?


----------



## tohunt4me (Nov 23, 2015)

Coachman said:


> Good news. I got a loan. Approved up to $14,999.


Want to buy my 3 year old car ????



Coachman said:


> Good news. I got a loan. Approved up to $14,999.


Only 49.9% interest with $5,000.00 down !


----------



## The Tenor (Sep 13, 2016)

Coachman said:


> I stopped into Carmax this morning in hopes of buying a new car.
> 
> I had a very nice salesman.
> 
> ...


I figured that would be an issue. So when I bought a new car last month from them. I did not mention it. I did not get my financing through them anyway


----------



## NoPooPool (Aug 18, 2017)

Trafficat said:


> Yep! I was going to buy with cash. I have a strong aversion to debt.


Trafficat, who would not take cash? Stay out of the used car lots with the buy here pay here that make their big money on the high credit rates charged to people with bad credit, no credit and repos on their credit report. Go to a new car dealer. They keep the better low mileage cars and sell off the higher mileage less desireable cars to auctions or used car lots that buy wholesale blocks of cars traded in to dealers. PM me if there is an option here on UP. I can help you and steer you in the right direction.


----------



## Coachman (Sep 22, 2015)

ScandaLeX said:


> In your 1st post you told us Carmax denied you but when you get approved you don't tell us by who or whether or not they accepted Uber for your income!?


USAA, 5.35% APR, 120% LTV, no Uber income. I got a cosigner.

The salesman at Carmax was great. He pretty much told me what I needed to do to get the loan. I may go back and buy from him. Not sure yet.


----------



## Adieu (Feb 21, 2016)

Trafficat said:


> I went to a used car sales lot with a wad of cash and the saleswoman turned me away when I told her I was looking for my next Uber car. She told me I had to be able to prove reliable income to buy a car and Uber wasn't good enough. I told her I could pay in cash, and I was told it didn't matter. Apparently even our cash isn't good enough.


When i got my XL the backyard dealer was actively trying to talk me out of buying it saying it was "too rough" for fuber....

Said he was a fuber driver himself

Then again the guy also did a near-100mi roundtrip for free so i could drop off my 3series at home and drove me back to get the truck from him.

Not a very sensible fuber driver...



Awesomeness101 said:


> Untrue. Many dealerships actually do not take cash because they only allow financing, this making more on interest long term.


Thats not a dealership thats a BuyHerePayHere credit scam defrauding the unbanked and cashstrapped poor


----------



## goneubering (Aug 17, 2017)

Awesomeness101 said:


> Untrue. Many dealerships actually do not take cash because they only allow financing, this making more on interest long term.


You must have very unusual car dealerships in your state. Cash is king in Cali. I would fire any salesperson who rejected a cash deal.


----------



## Awesomeness101 (Jul 19, 2017)

goneubering said:


> You must have very unusual car dealerships in your state. Cash is king in Cali. I would fire any salesperson who rejected a cash deal.


Minnesota. A number of them in central MN.


----------



## Kodyhead (May 26, 2015)

goneubering said:


> You must have very unusual car dealerships in your state. Cash is king in Cali. I would fire any salesperson who rejected a cash deal.


I agree but the fact is if they had a chance to sell that car to someone who wants to finance for the same price , even with great credit the dealership would prefer that since they make money on the financings


----------



## Ted L. (Jun 8, 2017)

When I bought my car, the salesman was more interested in selling me a loan than selling me a car. And I already had an approval letter from PenFed.


----------



## goneubering (Aug 17, 2017)

Ted L. said:


> When I bought my car, the salesman was more interested in selling me a loan than selling me a car. And I already had an approval letter from PenFed.


That and vehicle warranties.


----------



## Kodyhead (May 26, 2015)

goneubering said:


> That and vehicle warranties.


You are going to need that clear coat too


----------



## goneubering (Aug 17, 2017)

Kodyhead said:


> You are going to need that clear coat too


And undercoating!


----------



## Mars Troll Number 4 (Oct 30, 2015)

Ted L. said:


> When I bought my car, the salesman was more interested in selling me a loan than selling me a car. And I already had an approval letter from PenFed.


I had that happen to me the last 2 times i bought cars...

It's like... I'm HERE TO LOOK AT CARS... tell me what the total sales price is all inclusive and i'll come back in a couple hours with a cashier's check...

And what do they do... Try to talk me into financing... There's no point in financing when It's going to cost me money over 5 or 6 years and i have enough in my retirement to just buy it outright.. I had 3 tours worth of combat pay...

One salesman made me so mad i walked off and went to a different dealer. I felt like i was going to have an aneurysm. Arguing with me over my plan to buy a car with a cashier's check... No it's NOT going to cost me more if i cut you a check... It's honestly not...

I drove up From Orlando to Sanford to a different Toyota dealer and I told them the story and the Salesman (an old dude about my dad's age) rolled his eyes and happily took my cashiers check after he wrote up everything and totaled everything up. Then i drove over to the bank and had them write me up a cashier's check for the whole amount, and that same day I owned it outright.

The time before that the Salesman took $1,000 off the cost of the car if financed it through the dealer. So i accepted the offer and paid off the ENTIRE LOAN the second i could sign on to the website to pay my first bill.

But NOT financing cars for uber drivers is a GOOD THING... It makes NO financial sense for them to do it.

I've said this before but if you buy a car, uber full time you can burn it out in 3 years, long before you even pay it off. *Then you have no car and you still owe money*..

It's really NOT a good idea to finance a car to uber full time with, any kind of financing is super bad.


----------



## NoDay (Jul 25, 2017)

tohunt4me said:


> Want to buy my 3 year old car ????
> 
> Only 49.9% interest with $5,000.00 down !


trying to start a buy here pay here thing on up.net?


----------



## ShinyAndChrome (Aug 18, 2017)

Mears Troll Number 4 said:


> I had that happen to me the last 2 times i bought cars...
> 
> It's like... I'm HERE TO LOOK AT CARS... tell me what the total sales price is all inclusive and i'll come back in a couple hours with a cashier's check...
> 
> ...


If you must must must borrow money for an uber loan at the least double your payments so that the situation you mentioned is avoided.


----------



## NoPooPool (Aug 18, 2017)

Mears Troll Number 4 said:


> I had that happen to me the last 2 times i bought cars...
> 
> It's like... I'm HERE TO LOOK AT CARS... tell me what the total sales price is all inclusive and i'll come back in a couple hours with a cashier's check...
> 
> ...


You are so right on not buying a new car and financing it to use to drive Uber full time. Also, good move in the car deal you did with getting $1K off if you financed it through the dealer and then paying it off in full in the first month.

My neighbor just purchased a 2013 Ram pickup. My famous last words to him were, "whatever you do, don't finance it through the dealer", that they bump the rate from their buy rate on the money at least 1 point , if not 3 or 4 points. He comes home with the truck, financed through the dealer at 7.49%X60 mos. I then told him to go to Tech Credit Union and re-finance it through them at 1.99X 59 months. He will save about $8,000 on the interest on the loan. He has a 717 FICO score. Nobody should be paying that kind of juice on an auto loan with a 717 Fico score. A real knucklehead. He is one of these guys that has made great money as a union tradesman for over 30 years, but doesn't have a pot to piss in, or a window to throw it out of. A lot of it I am sure due to spending mistakes such as this his whole life. They also bought a whole kitchen full of appliances at Sears and charged it on a Sears charge. Those revolving charge accounts charge 26.99 APR. I go to Best Buy, purchase on my Best Buy credit card with 18 months or 24 months same as cash. Just have to be on-time each month with the minimum monthly payment, and have it paid off by the end of the 18 month or 24 month same as cash time frame. WAKE UP PEOPLE, and SMARTEN UP.


----------



## UberDez (Mar 28, 2017)

Uber is not a reliable income therefore if it's your primary income they won't accept it . I was told not to even put it down as a secondary source of income when I got my last auto loan . 
Learn how to use QuickBooks to do payroll and come up with a different job , make all you're Uber earning deposits go into a business account and cut yourself a check . Then use that companies name as you're source of income 

Or buy a cheap car cash and slowly upgrade every few months till u get what u want


----------



## NoDay (Jul 25, 2017)

I have never liked CARMART, the locked parking lot alone turns me off. I had to buy another car when I had my twins. 
We have a Enterprise Car Sales here in town. Honestly, I would buy from them every single time going forward. All of their cars are less than 2 years old often less than 1 year. max out at 40k mileage and come full warrantied.

The van we bought had lots of extra features than the one at another dealer had it vehicle with slightly less milage and 3 grand more


----------



## azndriver87 (Mar 23, 2015)

i used to work at carmax.
1) don't tell them you're using it for uber
2) carmax never promise "bad credit, no problem. No cash, no problem." if you have a bad credit, you'll get really high interest. One time I saw an interest up at 25% and the person still bought the car. Also often in order to get approved, you can't have too high of negative equity without putting down payment.
3) and yes they do require you to have an income, uber does not count.


----------



## Mars Troll Number 4 (Oct 30, 2015)

NoPooPool said:


> You are so right on not buying a new car and financing it to use to drive Uber full time. Also, good move in the car deal you did with getting $1K off if you financed it through the dealer and then paying it off in full in the first month.
> 
> My neighbor just purchased a 2013 Ram pickup. My famous last words to him were, "whatever you do, don't finance it through the dealer", that they bump the rate from their buy rate on the money at least 1 point , if not 3 or 4 points. He comes home with the truck, financed through the dealer at 7.49%X60 mos. I then told him to go to Tech Credit Union and re-finance it through them at 1.99X 59 months. He will save about $8,000 on the interest on the loan. He has a 717 FICO score. Nobody should be paying that kind of juice on an auto loan with a 717 Fico score. A real knucklehead. He is one of these guys that has made great money as a union tradesman for over 30 years, but doesn't have a pot to piss in, or a window to throw it out of. A lot of it I am sure due to spending mistakes such as this his whole life. They also bought a whole kitchen full of appliances at Sears and charged it on a Sears charge. Those revolving charge accounts charge 26.99 APR. I go to Best Buy, purchase on my Best Buy credit card with 18 months or 24 months same as cash. Just have to be on-time each month with the minimum monthly payment, and have it paid off by the end of the 18 month or 24 month same as cash time frame. WAKE UP PEOPLE, and SMARTEN UP.


I paid cash for my house...

Then i had to finance the cost of turning a burned out meth lab into a livable house...

I live on the principle of only buying things i can afford...

Financing anything smaller than a house is just a bad idea,


----------



## Snowblind (Apr 14, 2017)

I used to work for a Car dealer. (Exotic and European stuff.)
Uber/Lyft beside.
If you got Cash to buy a Car, ok. No problem.
But if you finance, they can sell you at a higher Interest Rate (as others have mentioned.)
Also, if you have no cash, no down, you don't have an "Angle".
You cannot negotiate, grind them down on the Price, etc. You just pay for whatever the Dealer is asking for.

I've seen Folks finance a Porsche Carrera ($75.000.00) over.....wait for it...90 months.


----------



## Mars Troll Number 4 (Oct 30, 2015)

Snowblind said:


> I used to work for a Car dealer. (Exotic and European stuff.)
> Uber/Lyft beside.
> If you got Cash to buy a Car, ok. No problem.
> But if you finance, they can sell you at a higher Interest Rate (as others have mentioned.)
> ...


I have some evidence to support my statment...

Most pro atheletes go broke within 5 years of retiring,

There's also the lotto winner curse,

Plus you have the constant plethora of idiots who are keeping up with the Jones' and buy a McMansion they can't afford, and finance a car, when they could save $50,000 if they just paid for it outright.

There's two kinds of people,

The idiots...
An the idiots idiots who think we know better, when in reality maybe we do, maybe we don't...


----------



## Snowblind (Apr 14, 2017)

> Plus you have the constant plethora of idiots who are keeping up with the Jones' and buy a McMansion they can't afford, and finance a car, when they could save $50,000 if they just paid for it outright.


So true.


----------



## Frontier Guy (Dec 27, 2015)

Coachman said:


> I stopped into Carmax this morning in hopes of buying a new car.
> 
> I had a very nice salesman.
> 
> ...


The fact that Carmax turned you down is a good thing, bunch crooks, ripping people off. Overpriced cars, undervalued trade-ins


----------



## azndriver87 (Mar 23, 2015)

actually their trade in value is pretty consistent with other places trade in too.


----------



## UberDez (Mar 28, 2017)

azndriver87 said:


> actually their trade in value is pretty consistent with other places trade in too.


I find their trade in process pretty good , they gave me a cash offer of $18,500 for my Explorer . I had bought it 4 months earlier for $19,500 . They also told me that they could give more if I was trading it in . I do find some of their prices a bit high but they do free transfers so if you're looking for a car with specific options , color etc... they're a good option and other markets have lower values on cars so you could potentially get a decent deal


----------



## Over/Uber (Jan 2, 2017)

Never mention Uber/Lyft/Rideshare when buying, even if paying with cash.

I recently took a 2010 KIA Optima which I now own as a rideshare car for a test drive. I swear, the salesperson tried to trip me up as we were discussing the car by randomly mentioning Uber, asking how new a car has to be to qualify. I almost answered him then caught myself, saying I have no idea, not aware of Uber's policy.

I paid cash but didn't want them to start questioning anything about what I intended to do with the car, which is to beat it like a red headed step child--buy another when it's worn out.


----------



## Mars Troll Number 4 (Oct 30, 2015)

Over/Uber said:


> Never mention Uber/Lyft/Rideshare when buying, even if paying with cash.
> 
> I recently took a 2010 KIA Optima which I now own as a rideshare car for a test drive. I swear, the salesperson tried to trip me up as we were discussing the car by randomly mentioning Uber, asking how new a car has to be to qualify. I almost answered him then caught myself, saying I have no idea, not aware of Uber's policy.
> 
> I paid cash but didn't want them to start questioning anything about what I intended to do with the car, which is to beat it like a red headed step child--buy another when it's worn out.


If you pay cash it's yours to do with as you wish... however i wouldn't put it past ANY car dealer to try to screw you over and overcharge you for a business investment.


----------



## Over/Uber (Jan 2, 2017)

Mears Troll Number 4 said:


> If you pay cash it's yours to do with as you wish... however i wouldn't put it past ANY car dealer to try to screw you over and overcharge you for a business investment.


Bingo. Maybe not as willing to negotiate a better price, thinking you'll be writing off the purchase expense.


----------



## I_Like_Spam (May 10, 2015)

Coachman said:


> Apparently all of their lenders automatically reject any application if Uber is involved. The salesman had some creative ways we could have done the deal but it all fell apart when he found out I had already put Uber down on the online pre-approval application.
> 
> I read this board regularly and have never seen this come up as an issue.
> 
> On to plan B.


When you borrow money for a car, the car is the collateral- if you don't pay the loan, the lender sends out the repo man.

Driving for Uber reduces the value of the collateral, makes the loan a lot riskier for the lender.

I don't see where this would matter if you are paying cash. But I've never dealt with carmax or other chains like that. They may make all of their money off the financing and don't want to get involved with cash deals? Just guessing.



Mears Troll Number 4 said:


> And what do they do... Try to talk me into financing... There's no point in financing when It's going to cost me money over 5 or 6 years and i have enough in my retirement to just buy it outright.. I had 3 tours worth of combat pay...
> 
> One salesman made me so mad i walked off and went to a different dealer. I felt like i was going to have an aneurysm. Arguing with me over my plan to buy a car with a cashier's check... No it's NOT going to cost me more if i cut you a check... It's honestly not...
> 
> .


Here in Pittsburgh, I think there are a lot of people with cash money in the car market.

My salesman didn't blink when I used a debit car to pay the $20,000.


----------



## TBone (Jan 19, 2015)

Mears Troll Number 4 said:


> I had that happen to me the last 2 times i bought cars...
> 
> It's like... I'm HERE TO LOOK AT CARS... tell me what the total sales price is all inclusive and i'll come back in a couple hours with a cashier's check...
> 
> ...


I disagree. You just have to buy a sensible Uber. Nothing over 5-10k and financed for no more than two years. Shouldn't cost more than $300 a month. Drive it for 1.5-2 years then get rid of it and repeat.


----------



## Mars Troll Number 4 (Oct 30, 2015)

TBone said:


> I disagree. You just have to buy a sensible Uber. Nothing over 5-10k and financed for no more than two years. Shouldn't cost more than $300 a month. Drive it for 1.5-2 years then get rid of it and repeat.


Wasn't for uber 

Bought and 3 1/2 years later I cleared over $200,000 total using it as a TAXI!
70,000 paid miles for $168,000 plus some time and tips.. $200,000 wasn't that hard to hit.

*$30,000 for a new car works if you can get $2.40 a mile.
*
I also had cash in the bank from a grant to buy a van with a wheelchair lift (because i'm a disabled veteran)

Which i turned around and slapped a taxi sign on the side of and installed a meter...

But that's another story...

But now i'm driving company taxis when I do drive, $500 month in insurance is a bugger to cover part time. I can get over 7 shifts of taxi rental for what i was paying for insurance back than.


----------



## JaniceCT (Aug 20, 2015)

Coachman said:


> Good news. I got a loan. Approved up to $14,999.


That's why your cash was declined . They want people to finance with them . They make much more money on that car if you finance with them


----------



## upyouruber (Jul 24, 2017)

Coachman said:


> I stopped into Carmax this morning in hopes of buying a new car.
> 
> I had a very nice salesman.
> 
> ...


Never, ever, mention anything about being a rideshare driver when financing a vehicle, DOH!!!



Trafficat said:


> I went to a used car sales lot with a wad of cash and the saleswoman turned me away when I told her I was looking for my next Uber car. She told me I had to be able to prove reliable income to buy a car and Uber wasn't good enough. I told her I could pay in cash, and I was told it didn't matter. Apparently even our cash isn't good enough.


Cash or not, guess it was a warranty issue


----------

