Consumer complaint received 2024-04-16
Product: Vehicle loan or lease — Loan
Issue: Problems at the end of the loan or lease — Unable to receive car title or other problem after the loan is paid off
Company: CarMax, Inc. (FL)

I am writing to bring to your urgent attention a grave matter involving significant breaches of contract, deceptive practices, misrepresentation practices and potential securities fraud perpetrated by CARMAX INC, which necessitates immediate investigation and intervention from Consumer Financial Protection Bureau ( CFPB ). 
On date XX/XX/XXXX, I, as an investor, In good faith and clean hands entered into a transaction with CARMAX to purchase a vehicle [ Make : XXXX XXXX XXXX : XXXX, Year : XXXX, XXXX : XXXX ]. During the negotiation and transaction process, I was explicitly assured by representatives of the dealership that the vehicle was free of any liens or encumbrances. However, subsequent to the purchase, I discovered that there is indeed a lien on the title of the vehicle, which was not disclosed to me at any point during the transaction. 
I have purchased a Certified UCC-1 from Delaware where CarMax INC has jurisdiction & I have discovered clear evidence that there is a lien on the title of my vehicle between CarMax INC subsidiaries XXXX Depositor : CarMax Auto XXXX XXXX & Issuer : CarMax Auto Owner Trust XXXX. Had I been informed of the existence of the lien beforehand, I would have been able to make a more informed decision regarding the transaction. I would NOT/NEVER agree to take the responsibility of someone elses debt. This certified document serves as irrefutable proof that CARMAX engaged in deceptive practices and failed to fulfill their obligations under the terms of our contract. Which makes me as an Investor a Bona Fide Purchaser & I will be claiming my Bona Fide Purchaser rights. In accordance to applicable laws and regulations governing XXXX XXXX XXXX I requested that CarMax acknowledges & respect my rights in this matter. 
In addition to the deceptive practices noted above, I must also bring to your attention the concerning lack of response from the Executive officers, to be specific XXXX XXXX XXXX XXXX as Executive Vice President and Chief Financial Officer of CarMax INC . Despite multiple attempts to contact them by call & via certified mail, seeking resolution and clarification regarding this matter, my efforts have been met with complete disregard and silence, because of such silence I have went deeper into my investigation & spend hours/months going through CARMAX INC SEC filing forms very thoroughly to name a few 10k, 8k, Trust agreements & Prospectus where CARMAX INC Executive officers such as XXXX XXXX XXXX XXXX as Executive Vice President and Chief Financial Officer of CarMax INC, signed & pledged everything to be true & accurate pursuant to the requirements of Section 13 or 15 ( d ) of the securities exchange act of XXXX. I have found a handful of information in the forms & I must say, it raises a lot of suspicion, questions & concerns. I was also lucky enough to review a XXXX XXXX XXXX & was flabbergasted with what I saw. Given the severity of these violations and the refusal of CARMAX to address them in good faith, I implore Consumer Financial Protection Bureau to launch a comprehensive investigation into the actions of CARMAX INC. It is imperative that appropriate measures are taken to hold the dealership accountable for their deceptive practices and to ensure that investors are protected from similar misconduct in the future. 
Thank you for your attention to this urgent matter. I stand ready to provide any further information or documentation that may be required to support your investigation. I am seeking for lawful remedies, damages & compensation due to this unfortunate situation. I trust that the Consumer Financial Protection Bureau will act swiftly and decisively to uphold my rights and maintain integrity within the marketplace.