Users' questions

How do I contact CarMax?

How do I contact CarMax?

If you have any trouble setting up your online account, you can contact our Customer Service team at (800) 925-3612.

Can you pay CarMax bill over phone?

To save time, you can make payments by signing in below, or through the automated payment process at (800) 925-3612.

Will CarMax defer a payment?

But for as long as you communicate well with CarMax, they will defer one or more payments out of courtesy and to help you with your repayment. All that said, you can lower your CarMax payments through refinancing if you’ve made all your latest payments on time.

Can I pay off CarMax loan early?

Can I pay ahead? Yes, however, even if you are paid-ahead, finance charges will continue to accrue daily on your account. The next payment you make will be applied first to the finance charges that have accrued since the last payment you made.

How do I complain to CarMax?

Call Carmax’s customer service phone number 1-800-519-1511 and have them troubleshoot your problem.

What credit score does CarMax use?

Carmax will most likely pull Experian AND Transunion AND Equifax. MULTIPLE times, like 10-12 overall. See how they work is they shotgun your application to MULTIPLE lenders. And each lender pulls whatever bureau they want, sometimes more than one bureau.

Does CarMax pre approval affect credit?

You can do this by using the CarMax preapproval tool, which will initiate a hard pull on your credit. This can have a small negative impact on your credit report, and is a routine step in securing financing from almost any lender, though it may come later in the process with other lenders.

How soon can you defer a car payment?

A car payment deferment is an agreement between you and the lender in which the lender agrees to postpone or reduce your payment for a few months. Generally, the longest they’ll allow a deferment is two to three months, but it’s all at the lender’s discretion.

Does deferring a payment hurt credit?

Even in non-emergency situations, accounts in forbearance or deferment are reported as such to credit bureaus so the “skipped” payments don’t harm your credit. Additionally, since the lender has to agree to the deferment plan, they aren’t supposed to report missed or late payments to the credit bureaus.

Who does CarMax use for financing?

In addition to CarMax Auto Finance, we work with leading institutions such as Ally Financial, Capital One Auto Finance®, Wells Fargo Dealer Services, and others. These relationships help ensure a broad variety of financing options for our customers.

Can I pay off my CarMax loan early?

Does returning a car to CarMax affect credit?

They will try very hard to find another car for you, and they will transfer the financing to that other car, if possible. But if you do end up with no car, you also end up with no car loan. So no impact on your credit, beyond the hard pull done to make the financing originally. The answer is none.

How can I delay my car payment?

Some build the option right into the loan agreement: All you have to do is choose the “skip a payment” option in your payment coupon book or on the lender’s website where you normally make your payments. Other auto lenders ask you to submit a “hardship letter” to get approved for deferment.

Can you skip a car payment?

Under a car loan deferment, the lender agrees to let you pay a lower payment or no payment at all for a month—or two, or three, but probably not much longer than that—with the expectation that you’ll be able to resume your regular payment schedule after the deferment ends.

Does CarMax approve everyone?

Along with credit score, the customer also have to pay 20% of the car value as down payment. Yes CarMax is pretty much comfortable with all Bad and Good credit score and finances almost everyone with proper paperwork and credit score requirements.

What is CarMax interest rate?

2.95% – 20.00% 36 – 72 months.

Does CarMax have a corporate office?

The headquarters of the company is based in 12800 Tuckahoe Creek Parkway. The name of the place is Richmond, while the name of the place is Virginia.