Complaint Review: Carmax

After just having our 2006 Acura TL for one week my wife totaled it. Thankfully we had purchased gap insurance through Carmax for $600. The insurance company worked with Carmax and handled the payoff. Carmax called a week later saying we owed the difference amount of $2,500. My wife told them we had gap insurance and the lady apologized stating their records we're not updated. She stated they were just waiting on the police report. The insurance company had provided this when they handled the payoff.

We filed paper work with carmax for the gap insurance claim and they stated the remander would be paid off. However, 3 months  later Carmax contacted us stating that we still owed them the remander $2500 and  they were voiding the gap insurance without a explanation or a refund. We tried to dispute the claim but by then carmax already sold the debt off to a collector and gave us nothing but a run around on the phone an in person. Carmax is just another big bullying corporation who gets a kick out of scamming and ripping off hard working honest people.