Vehicle loan or lease -- Problems at the end of the loan or lease -- Complaint #5065791
Complaint Overview
Complaint ID: 5065791
Company: Carmax, INC.
Product: Vehicle loan or lease
Sub-Product: Loan
Issue: Problems at the end of the loan or lease
Sub-Issue: Unable to receive car title or other problem after the loan is paid off
State: Illinois
ZIP Code: 60634
Date Received: 2022-01-03T12:00:00-05:00
Date Sent to Company: 2022-01-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I paid off my CarMax Auto Finance car loan thru re-finance from another lender on XX/XX/2021. Once paid off I cancelled my gap insurance and Carmax extended warranty plan at the Carmax dealership in XXXX, IL. On XX/XX/XXXX I was due a refund for the cancellation of {$3000.00}. The refund was applied to my closed Carmax Auto Finance instead of just giving me a check. I called a week later and 2 representatives I spoke with stated it takes 7 business days to get issued the refund because it needs to be approved by a manager. As of today my full refund have not been processed. I spoke with XXXX in the resolutions department, which she was very helpful and understanding. She was able to get a response from a manager who told her itll take 2-3 weeks. I shouldnt have to wait another 2-3 weeks to receive my refund, due to Carmax Auto Finance slowness . This refund was applied XX/XX/2021, which has already been XXXX weeks. The refund was already approved at the Carmax store. Paperwork was already signed.
Frequently Asked Questions
What is Complaint #5065791 about?
Complaint #5065791 was filed against Carmax, INC. regarding Vehicle loan or lease specifically about Problems at the end of the loan or lease. It was received by the CFPB on 2022-01-03T12:00:00-05:00.
How did Carmax, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Vehicle loan or lease) and describe your issue in detail.
Can I see other complaints against Carmax, INC.?
Yes, visit the Carmax, INC. company profile at readthecomplaint.com/company/carmax-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.