Consumer complaint received 2025-07-22 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CarMax, Inc.
State: FL

Complaint narrative:
XX/XX/XXXX : Purchased a XXXX XXXX XXXX XXXX for around {$60000.00} from CarMax. Made a payment of around {$24000.00} down payment ( Vehicle Trade-in ), expecting to finance approximately {$36000.00}. However, the final loan amount was over {$60000.00} - meaning they secretly added $ XXXX in undisclosed fees, warranties, and products without proper disclosure. 

Key Problem : The loan structure makes no mathematical sense. A {$60000.00} car with {$24000.00} down payment should result in ~ {$36000.00} loan, not $ XXXX. They essentially made me finance my own down payment back to myself through hidden add-ons. 
TILA Violations from Day XXXX : -Never received copies of signed loan documents despite digital signing -No itemized breakdown showing how {$36000.00} became $ XXXX XXXXHidden fees and products bundled without explicit consent or proper disclosure -Unable to review actual loan terms, APR, or finance charges XX/XX/XXXX - Early XXXX : Made monthly payments while requesting loan documentation and clarification of the impossible loan structure. 
Multiple Phone and Face-to-Face Conversations : CarMax representatives acknowledged there were problems with the loan structure and repeatedly promised to " fix it. '' Based on these promises, I reasonably expected resolution and continued working with them. 

XXXX : When CarMax failed to follow through on their promises to fix the acknowledged problems, I stopped payments and demanded proper documentation and resolution. 

XX/XX/XXXX : Sent detailed certified letter to CarMax documenting specific violations of Truth in Lending Act ( TILA ) and Uniform Commercial Code ( UCC ), including : -Failure to provide copies of loan documents ( 15 U.S.C . 1638 ) -Inadequate disclosure of finance charges and add-on products -Misrepresentation of loan terms -Request for remedy : return of down payment and all payments, or contract rescission -Expressed desire to resolve without litigation XX/XX/XXXX- XXXX : CarMax has completely ignored the certified letter for XXXX months. No written response whatsoever to documented federal law violations. 

XX/XX/XXXX : CarMax sent collection notice claiming account was " charged off '' with balance of {$61000.00}, completely ignoring all substantive legal issues raised in XXXX letter. 
Current Status : Only receiving collection calls demanding vehicle surrender. CarMax refuses to : -Address any federal law violations raised -Provide copies of loan documents ( TILA requirement ) -Explain how {$36000.00} loan became $ XXXX -Issue required XXXX tax form if debt is truly " charged off '' -Release lien or provide title despite claiming charge-off SPECIFIC XXXX Truth in Lending Act ( TILA ) Violations : -Failure to provide contract copies ( XXXX U.S.C. XXXX ) -Inadequate disclosure of finance charges and total loan cost -Bundling undisclosed products without proper consent -Concealing true cost of credit through hidden fees Improper Debt Collection : -Ignoring substantive legal challenges for XXXX months -Continuing collection on disputed debt with unresolved federal law violations -Using false promises to delay consumer action while avoiding resolution -Claiming " charge-off '' without providing required tax documentation Bad Faith Pattern : -Acknowledged loan problems but never fixed them -Made false promises to resolve issues -Complete non-response to certified legal notice -Treating federal law violations as simple payment disputes AMOUNTS INVOLVED -Vehicle Purchase Price : {$60000.00} -Down Payment Made : {$24000.00} -Expected Loan Amount : ~ {$36000.00} -Actual Loan Amount : $ XXXX -Unexplained/Hidden Fees : $ XXXX -Current Balance Claimed : {$61000.00} ACTIONS TAKEN By Consumer : -Made substantial down payment based on misrepresented loan terms -Requested proper documentation multiple times -Worked with CarMax based on their promises to fix acknowledged problems -Sent detailed certified letter documenting federal law violations -Requested specific remedies including contract copies and fee explanations -Filed this CFPB complaint after XXXX months of non-response By CarMax : -Failed to provide required loan documentation -Bundled $ XXXX in undisclosed fees/products -Acknowledged problems but made false promises to fix them -Completely ignored certified letter detailing federal law violations XXXXContinued collection activities while refusing to address legal challenges -Claimed " charge-off '' without providing required XXXX or title release

Company response to consumer: Closed with explanation