Consumer complaint received 2020-11-19 00:00:00
Product: Vehicle loan or lease — Loan
Issue: Struggling to pay your loan — Denied request to lower payments
Company: CarMax, Inc.
State: WA

Complaint narrative:
I called into Carmax Auto Finance in XX/XX/2020, to notify them that I was still being impacted financially by the loss of employment/income in relation to the Covid-19 pandemic. I had already missed my XXXX car payment and was looking for options. 

My only source of income was unemployment which was {$800.00} a month before tax deductions. 

My car payment was half of that plus some and it was simply not practical to keep my vehicle knowing that the car payment was eating up the only flow of funds coming into the household. Clearly I had rent, heating costs, food, toiletries, phone bill, and a list of other bills like every other American whose been financially impacted.

I was scared, stressed and holding faith that a job would come through ASAP or a miracle loan from someone.Thats all I could do was hope and believe in a miracle. 

I had asked if I could pay interest only and defer my principal payment portion. I was told no. 

I asked you f I could defer payments all together and I was told no because I had one already this year. Carmax allowed 1 a year it seems. 

I understand that policy under normal circumstances. 
Not under a national pandemic with uncertainty, fear & stress of everyone that has a car loan ; whose been financially impacted are unable to pay their car payment. 

How long can this go on!? Eventually you will have to give back your vehicle ( which creates another disruption in relation to getting a new job and the transportation necessary to get to & from a job ). 

Carmax couldnt do a thing for me. 

I was upfront and honest with them. I asked for help, support, options, and I was not once supported, given any options nor was my situation as a consumer, US tax paying citizen and customer of Carmax ; taken seriously. Not a single suggestions, considerations to my requests or willingness to work with me. 

I was told to try and make whatever payments I could and reminded that they do report to the credit bureau after 30 days late payment or no payment received. 

I couldnt believe this. 

After everything, Im reminded that they will report me to the credit bureau as a delinquent payment status. So now Im looking at that ripple affect on my credit. 

I dont want to get farther behind nor have a repossession on my credit. 

Ive decided I must sell my car of 4 years to a dealer that will offer me the loan amount. XXXX pay off the car loan and not have a vehicle anymore. Thats the best I can do. 

Plus to add more stress, they call daily as if they dont know whats going on. 

Im not just choosing to not make a car payment when I can afford to .... sheesh. Im not making a car payment because I can not afford to. 

Ive called and my situation has been explained and recorded by them. 
So why still call and bully me. Its a cruel tactic knowing my situation. 

I no longer want to do business with anything be whose manner of business justifies no humanity, kindness and grace towards their customers during a traumatic national crisis. 
well. 

Something needs to be done. 

Thank you. 

Appreciatively XXXX

Company response to consumer: Closed with explanation