Carmax Auto Loan Reviews and Complaints
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Carmax in Kennesaw, Georgia - Car paid off, now being reported as late
Purchased a car from CarMax in 2017; in November 2018, received "date stamped" correspondence from CarMax load "paid in full". Now receiving notices from three credit bureaus that Car Max is reporting that I am (3) three months behind and owe them $1100.00
1 comment
Review
Service
Carmax Auto Loan
Pros
- Efficient car buying process
- Process seemed very straightforward and efficient
Cons
- Problems now experiencing with finance department
- Problems with finance department
Reason of review
People not properly doing their jobs
He went to Carmax in Calgary. His credit is abysmal, BUT he had just started a new job with an excellent wage. He couldn't qualify for a loan. Carmax suggested he find a co-signer. When I worked in banking many years ago, the policy was a co-signer must have enough...
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2 comments
I agree with @CloseBeetle176. I understand your age, however, I feel as though you must have had some good faith in your son and thought/hoped he would pay for the truck because you signed off on the loan, your question is a question you should have asked before agreeing to allow your son to buy a car.
Also, there have been many instances when people can walk into any car dealership with no income at all but because they have stellar credit they are approved. You do not need a job to get an approval because if anything the fact that you have great credit can also mean that you may possibly have a great credit card to back up the payments or cost of the vehicle if something like what actually happened to your son happens! Hopefully, you don't put too much faith into your son again and let him talk you into buying him another car.
Good Luck! That was nice of you to help but only you know your son which means you doubted the situation in the beginning.
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Review
Service
Carmax Auto Loan
Reason of review
Poor customer service
In early June 2018 the car was totaled. Nationwide Insurance Agency finally got a check to Carmax to pay off the vehicle in August 2018. Carmax began calling me in September 2018 stating that I was behind on my payments. I explained the situation and they stated that...
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1 comment
that's bull s%#t'''''they were trying to put some extra money in there pocket sounds like to me.... I will never do bizz with them....
Review
Service
Carmax Auto Loan
Reason of review
Problems with payment
Preferred solution
Credit repaired and refund check resent for gap insurance
They lied to me about having to return the vehicle and said nobody would approve my auto loan, (whixh was totally false) and then they said i hD to repurchase the vehicle with them as my financial company at a much higher interest rate. They ruined my credit, and I am...
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Review
Service
Carmax Auto Loan
Reason of review
Everything
Loss
$50000
Preferred solution
Full refund
Tags
Carmax - Don’t us online to apply for credit
I applied online for a car and Carmax sent it to over 10 difference banks all at the same time. They all pulled credit reports from all credit companies and my fico score dropped. I did not buy from Carmax and never will. I called corporate office and they refused to fix the problem. They can have it removed with just a letter .
Review
Service
Carmax Auto Loan
Reason of review
Problems with payment
Carmax pulled a fast one. Carmax increased their profit by misquoting the payoff balance by over $50. On top of that, no one explained to me that they would take 2 weeks to submit the payoff balance on my outstanding loan. As a result, the finance company took another...
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Review
Service
Carmax Auto Loan
Pros
- Process seemed very straightforward and efficient
Cons
- Being hoodwinked - told an inaccurate and low payoff amount
Reason of review
Not as described/ advertised
Loss
$100
Preferred solution
Let the company propose a solution
Tags
When I went to look at the cars and trucks there they advertise on all there drivers window the price and payment with fair or good credit but when I went inside they tried get me to finance a 20k loan with 2000 down my credit is fair to good yet they were trying to...
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Review
Service
Carmax Auto Loan
Reason of review
Pricing issue
On February 6, 2017 I purchased a car at Carmax, Sanford, Florida. In the sales contract, I purchased the CarMax warranty for an additional $2,789.00. This is detailed in the sales contract. The financing was provided by the Carmax financing. The air conditioner on the...
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Review
Service
Carmax Auto Loan
Reason of review
Warranty issue
Loss
$10500
Preferred solution
Full refund
I will never ever buy a car from this company again and i am writing this to let everyone know that they will tell you your approved and then you think you have a new car and they call back saying you have to bring the car back because financing didnt go through! Who...
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Review
Service
Carmax Auto Loan
Reason of review
Order processing issue
CARMAX IS NOT CONSUMER FRIENDLY IT'S ONLY A RUSE TO GET YOU IN THE DOOR. I HAVE CLIMBED MOUNTAINS TRYING TO MAKE ADDITIONAL PAYMENTS TOWARDS MY AUTO LOAN. CHECK FOR YOURSELF IT'S ON-LINE PAYMENT SITE HAS NO OPTION TO MAKE PRINCIPAL ONLY PAYMENTS. ANY ADDITONAL PAYMENTS...
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Review
Service
Carmax Auto Loan
Reason of review
Problems with payment
Preferred solution
ALLLOW ADDITONAL PRINCIPAL PAYMENT AMOUNT TO BE PAID ON-LINE OR OTHERWISE.
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Paid off my car and it's been 2 months and I still have not received the title to my car. Plus, they still owe me an over payment.
I will no longer buy a car from CarMax. Never again.