Consumer complaint received 2026-01-14 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: CarMax, Inc.
State: MD

Complaint narrative:
I am submitting this complaint regarding CarMax Auto Finances handling of my auto loan and its decision to report a late payment under circumstances that were both unreasonable and harmful. 

I financed a vehicle through CarMax Auto Finance on XX/XX/XXXX with my first payment due on XX/XX/XXXX. Due to significant mechanical and electrical defects, the vehicle was in service and out of my possession on multiple occasions shortly after purchase, totaling more than 30 days. I was issued multiple loaner vehicles and did not have consistent access to the vehicle I was financing. 

Prior to the due date and again afterward, I contacted CarMax Auto Finance to request an extension or deferment of my first payment. I clearly explained that the vehicle had been in service repeatedly, that I did not feel safe driving it, and that I had been deprived of use of the vehicle through no fault of my own. Despite these circumstances, CarMax Auto Finance refused to grant any acc

ommodation. I also submitted written complaints to CarMax Customer Relations and CarM
ax Corporate explaining the situation and requesting assistance. Those communications were largely ignored, and no meaningful resolution was offered. 

I ultimately made my first payment on XX/XX/XXXX the XXXX day after the original due date immediately after picking up the vehicle for the third time. Despite the extraordinary circumstances, CarMax Auto Finance reported the payment as late to the credit reporting agencies. 

As a result, my credit score dropped by more than XXXX points, causing substantial financial harm. I believe this reporting was unfair, punitive, and inconsistent with reasonable servicing standards, particularly given that : The loan involved a newly purchased vehicle with documented defects The vehicle was repeatedly unavailable to me due to repairs I proactively communicated with CarMax Finance and requested relief I made the payment at the 30-day mark - immediately after picking up the vehicle from CarMax for the third time. Not as a refusal to pay, but due to unresolved vehicle issues I am concerned that CarMax Auto Finance failed to exercise reasonable care in credit reporting and failed to conduct a fair evaluation of my circumstances before furnishing negative information, potentially in violation of the Fair Credit Reporting Act ( 15 U.S.C. 1681s-2 ) and general consumer protection standards governing loan servicing practices.

I am requesting CFPB assistance in reviewing CarMax Auto Finances actions and in seeking the following resolution : 1. Removal or correction of the reported late payment from all credit reporting agencies 2. Written confirmation of the correction 3. Review of CarMax Auto Finances policies regarding payment accommodations when a financed vehicle is unusable due to defects Thank you for your time and assistance. For your review, I have attached documentation ( emails, screenshots, service receipts, payment receipt, and proof of some of the phone calls made ) to support my complaint. I am prepared to provide additional documentation upon request.

Company response to consumer: Closed with explanation