CarMax Auto Finance originations plummet amid pandemic | Auto Finance News | Auto Finance News

CarMax Auto Finance originations plummet amid pandemic

Photographer: Hasan Sarbakhshian/Bloomberg

CarMax Auto Finance is one of the first auto lenders to record the adverse effects of the coronavirus pandemic on its book of business, with originations clocking in at $992.3 million as of May 31, down from $1.8 billion year over year, according to the retailer’s first-quarter fiscal year 2021 earnings presentation.  The captive’s penetration rate on vehicles sold at stores also dropped to 36.1% as of May 31, […]

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