CarMax review: Purchased a 2012 Hyundai Elantra

CarMax

CarMax - 2012 Hyundai Elantra GLS

Sharon Renee Williams of US

May 12, 2022

8:10 pm

Featured review

I am to pick up a vehicle from Carmax on Saturday 05/29/2022. My appointment is at 1:00P. My concern and complaint are with one of the sales representatives and the finance company selected American Credit Acceptance. Being that I have been a customer with Carmax several years and I purchased one of their great vehicles and has now paid off years ago that I do not recall being treated in the manner that I was by this company recently with the purchase and sale of my vehicle, the 2012 Hyundai Elantra GLS. To me there is definitely some suspicious business practices going on here about my sale and pursuit of purchasing a car again thru Carmax. So, here is my problem, complaint, and concern. Under the federal Truth in Lending Act, lenders must inform applicants in advance about all terms upfront and be truthful about the payment factored in and the high interest and APR of the finance company will be charging so that I would have clearly been able to make that call on whether to enter, sign, or agree to financing contract and in you guys' case. I am to pick up a vehicle from Carmax on Saturday 05/29/2022. My appointment is at 1:00P. My concern and complaint are with one of the sales representatives and the finance company selected American Credit Acceptance. Being that I he of withholding of information whether purposedly or unintendedly was done in my case and experience. I only found out when I myself read thru the finance terms from the email received from Carmax. When I viewed it, I discovered that I will be paying double for 1 used vehicle at that by the time I meet all of my payments at 72 months. This ludicrous. The overall experience and unprofessionalism that I encountered by this type of behavior at the start before I even pick up vehicle left me very disturbed, dissatisfied and angry. This is definitely in no way how a business relationship of any kind should be handled with the customer being defrauded or disclosure of deceptive practices. More so my sincere feeling that I take from this experience is that between Carmax and American Credit Acceptance all I became was a prime target for subprime lenders to a person with challenging credit. Still, this is no excuse to be misled or misinformed. It was considered very important to me as it appears to be a high-pressure sales tactic. I am a victim of a predatory auto loan, subprime loan offered to me because of my credit problems. I became easily victimized by this sales lady person whom I spoke with for hours on Saturday 05/07/2022 of which I clearly explain because I am a cost conscience person living on a budget with other obligations to be upfront with me, and that I did not need these type problems by purchasing a vehicle with a high monthly payment only to find out when it is all said and done I will be double paying, this is nothing short of predatory lending deceptive business practices. This is condemned "scourge," it seems that both Carmax and American Credit is purposedly setting up the customer from the start to fail, this is not even human to do so just because a person has challenging credit. An APR of 26.66% is extremely out of the ballpark and especially charging a hard-working lady like myself double in the end. I know that I should be excited about getting a new car (used) but I am not, I am not even sure about entering the contract, I do not like being set up to fail or something becoming a hardship at the start of a business relationship and this is what I extensively explained to the saleswoman. In this case it's actually usury because this agreement, and I have not signed the contract yet, refers to charging excessive interest when money is lent on a contract to receive not only the principal sun again and again, but also an increase by way of compensation for the sole purpose of the same person only making a car sale to obtain commission, with no held interest in the customer purchasing. The interest is called interest by those who think it is lawful, and usury by persons like me who do not. This must be done in a way to something more affordable to borrowers. When coupled the way American Credit Acceptance is doing appearing that Carmax is working right alone with this company, by offering the cost on to the consumer at an effectively higher than normal state. It is more money I will have to earn in order to pay back the lender, for I am very price conscience about everything and I am certainly no dummy in the long run either. By all of these deceptive practices hoodwinked me into a loan offer for which I either could not qualify for, nor make payments on, leading to disappointment, wasted effort, and unnecessary inquiries on a credit report, which could depress my score further. This ordeal is price gouging practices also. I researched the BBB site and saw that this particular finance company has had 167 customer negative complaints, as well as Carmax, I was floored because most of them are complaining about the same thing that happened here in my case, how can a company stay in business cheating and defrauding customers, more so, how can you guys still do business with them for now it also places your company in question and posed a risky and negative customer experience. For my vehicle to be priced the way that it is set up for a used vehicle at 26.66% APR is priced at double its cost of similar cars, this to me seem to be violating price gouging laws. This is the complaint and problem that I have and dislike most about the car buying process. I should have been given the option to agree/disagree to negotiate the finance terms with the dealership. It is clear and very apparent that Carmax did not at all have my best interest at heart, only your own, to sell a car, obtain commission, by any means necessary and this is wrong. Everything on your website where you claimed to make the car buying experience less stressful than other dealership, you failed to deliver that experience in my case. This experience was not at all stress-free. I love Carmax and how you thoroughly and vigorously checked your cars before placing them onto the lot, but what I don't like is misleading or scamming a customer by any means necessary even if they have challenging credit, we are still a human being, just like anyone else and deserve to be treated with courtesy and respect, not to mention professionalism from start to finish. I feel I am in a very misleading and foul contract, all set up for me by Carmax.

I am to pick up a vehicle from Carmax on Saturday 05/29/2022. My appointment is at 1:00P. My concern and complaint are with one of the sales representatives and the finance company selected American Credit Acceptance. Being that I have been a customer with Carmax several years and I purchased one of their great vehicles and has now paid off years ago that I do not recall being treated in the manner that I was by this company recently with the purchase and sale of my vehicle, the 2012 Hyundai Elantra GLS. To me there is definitely some suspicious business practices going on here about my sale and pursuit of purchasing a car again thru Carmax. So, here is my problem, complaint, and concern. Under the federal Truth in Lending Act, lenders must inform applicants in advance about all terms upfront and be truthful about the payment factored in and the high interest and APR of the finance company will be charging so that I would have clearly been able to make that call on whether to enter, sign, or agree to financing contract and in you guys' case. I am to pick up a vehicle from Carmax on Saturday 05/29/2022. My appointment is at 1:00P. My concern and complaint are with one of the sales representatives and the finance company selected American Credit Acceptance. Being that I he of withholding of information whether purposedly or unintendedly was done in my case and experience. I only found out when I myself read thru the finance terms from the email received from Carmax. When I viewed it, I discovered that I will be paying double for 1 used vehicle at that by the time I meet all of my payments at 72 months. This ludicrous. The overall experience and unprofessionalism that I encountered by this type of behavior at the start before I even pick up vehicle left me very disturbed, dissatisfied and angry. This is definitely in no way how a business relationship of any kind should be handled with the customer being defrauded or disclosure of deceptive practices. More so my sincere feeling that I take from this experience is that between Carmax and American Credit Acceptance all I became was a prime target for subprime lenders to a person with challenging credit. Still, this is no excuse to be misled or misinformed. It was considered very important to me as it appears to be a high-pressure sales tactic. I am a victim of a predatory auto loan, subprime loan offered to me because of my credit problems. I became easily victimized by this sales lady person whom I spoke with for hours on Saturday 05/07/2022 of which I clearly explain because I am a cost conscience person living on a budget with other obligations to be upfront with me, and that I did not need these type problems by purchasing a vehicle with a high monthly payment only to find out when it is all said and done I will be double paying, this is nothing short of predatory lending deceptive business practices. This is condemned "scourge," it seems that both Carmax and American Credit is purposedly setting up the customer from the start to fail, this is not even human to do so just because a person has challenging credit. An APR of 26.66% is extremely out of the ballpark and especially charging a hard-working lady like myself double in the end. I know that I should be excited about getting a new car (used) but I am not, I am not even sure about entering the contract, I do not like being set up to fail or something becoming a hardship at the start of a business relationship and this is what I extensively explained to the saleswoman. In this case it's actually usury because this agreement, and I have not signed the contract yet, refers to charging excessive interest when money is lent on a contract to receive not only the principal sun again and again, but also an increase by way of compensation for the sole purpose of the same person only making a car sale to obtain commission, with no held interest in the customer purchasing. The interest is called interest by those who think it is lawful, and usury by persons like me who do not. This must be done in a way to something more affordable to borrowers. When coupled the way American Credit Acceptance is doing appearing that Carmax is working right alone with this company, by offering the cost on to the consumer at an effectively higher than normal state. It is more money I will have to earn in order to pay back the lender, for I am very price conscience about everything and I am certainly no dummy in the long run either. By all of these deceptive practices hoodwinked me into a loan offer for which I either could not qualify for, nor make payments on, leading to disappointment, wasted effort, and unnecessary inquiries on a credit report, which could depress my score further. This ordeal is price gouging practices also. I researched the BBB site and saw that this particular finance company has had 167 customer negative complaints, as well as Carmax, I was floored because most of them are complaining about the same thing that happened here in my case, how can a company stay in business cheating and defrauding customers, more so, how can you guys still do business with them for now it also places your company in question and posed a risky and negative customer experience. For my vehicle to be priced the way that it is set up for a used vehicle at 26.66% APR is priced at double its cost of similar cars, this to me seem to be violating price gouging laws. This is the complaint and problem that I have and dislike most about the car buying process. I should have been given the option to agree/disagree to negotiate the finance terms with the dealership. It is clear and very apparent that Carmax did not at all have my best interest at heart, only your own, to sell a car, obtain commission, by any means necessary and this is wrong. Everything on your website where you claimed to make the car buying experience less stressful than other dealership, you failed to deliver that experience in my case. This experience was not at all stress-free. I love Carmax and how you thoroughly and vigorously checked your cars before placing them onto the lot, but what I don't like is misleading or scamming a customer by any means necessary even if they have challenging credit, we are still a human being, just like anyone else and deserve to be treated with courtesy and respect, not to mention professionalism from start to finish. I feel I am in a very misleading and foul contract, all set up for me by Carmax.