I was shopping for a car at Carmax website in Loveland , CO. and I had found one I liked so I did a pre qualify on there website entering the information they asked for.
For the income amount I entered the annual amount that I get because from previous applications I have done because that's what they wanted instead of the net income. So I submitted it and got an email back saying I was pre approved great so I went to the dealer to get my trade in appraised and go from there. So I took the next step to start the financing and submit my info to finance companies to get offers. 3 offers came back and one of them was just the terms I was looking for so the salesman took my proof of income and bank statement to his manager for approval which I thought was odd since I was already pre approved and the finance company had already had my info and made there offer.
So the manager comes over and says my income was a little lower than what I had entered because I had entered my annual amount instead of the net amount. I knew it was but I thought I was suppose to enter the annual amount and he said that wasn't right , he said we have put the amount that we can actually prove and I said well there it is on my Social Security in black and white the amounts that I get. So after them resubmitting the lesser amount I make the offer comes back from the finance company withe a higher payment which I had to walk away from getting my car after spending about 8 hours at the dealer and all the driving I did and almost a tank of gas.
I don't think it was right the way they did things after I entered the amount of income I believed to be the right way to do it. So needless to say I was not happy when I left there and will never buy another car from Carmax.
Product or Service Mentioned: Carmax Auto Loan.
Reason of review: Poor customer service.
Carmax Pros: Selection of cars.
Carmax Cons: Financing and there car appraisels are low.