CarMax, Inc. Consumer Loan Complaint

Vehicle loan Shopping for a loan or lease

CarMax, Inc. Consumer loan department,

Vehicle loan Shopping for a loan or lease Texas

I went online to - and applied for an auto loan. I received acouple of offers and chose the one that I liked. I chose a company called-, 72 month term and a 5.99 % interest rate. I have used this companybefore and never had an issue. I previously used a check from this companyto buy a vehicle at CarMax in -, Tx. So I decided I would do the samethis time around. Except when I found a vehicle that I liked at CarMax, they told me they would not accept the check. I called - and theyconfirmed that they have an open business relationship with CarMax andnot sure why they would not accept the check. I then called CarMax foranswers. I spoke to a - - which works in Business Relations andshe told me that she received an email advising that they no longer dobusiness with - as of 2 weeks ago. I honestly think that this is alending tactic to get me to use their in house financing which is at a muchhigher rate of 11.99 % and 12.99 % depending on how long the term is. Canyou please research this and let me know if they are targeting consumers likeme to use their much higher rate in house financing? Thanks.

CarMax, Inc. customer in Texas
Jul 13, 2015

* Source: CFPB Complaint Database

CarMax, Inc. response to complaint:
Closed with explanation

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