Carmax Complaint - Thinking Carmax? Buyer Beware
KANSAS CITY, MISSOURI -- I accompanied a friend to buy a car from Carmax in Independence, Mo. His credit was not so good, so I was needed as a co-signer. The sales rep we dealt with was great, but his manager was less than honest. The best loan rate he quoted was 21%. He also failed to disclose numerous hidden fees. My friend wisely rejected the offer and went elsewhere, where he was able to secure a far better rate at 6%.
I recently did some research and found that Carmax only does business with a select core group of banks -- e.g., Wells Fargo -- all of whom charge outrageous fees and banks.