Are you juggling multiple bills and struggling to remember when your CarMax payment is due? Maybe you’re on the road and need a quick way to make a payment without logging into your account. Whatever the reason, knowing CarMax’s phone number for bill pay can be a real lifesaver when you’re in a pinch.
As someone who’s personally dealt with auto financing through CarMax I want to share everything you need to know about making payments by phone and the other payment options available to you.
The CarMax Bill Pay Phone Number You Need
Let’s cut straight to the chase – the CarMax Auto Finance customer service phone number for making payments is (800) 925-3612
This is your go-to number for
- Making payments over the phone
- Checking your account balance
- Setting up automatic payments
- Making principal-only payments
- Requesting payoff information
Their customer service team is available:
- Monday through Friday: 8am-10pm ET
- Saturday: 9am-6pm ET
- Sunday: Closed
I’ve called this number several times myself, and while wait times can vary, the representatives are typically helpful and can process your payment efficiently.
Beyond Phone Payments: All Your CarMax Payment Options
While paying by phone is convenient, CarMax offers several other ways to make your payments. Let’s break them down:
1. Online Payments Through MyCarMax
Setting up online account access is probably the easiest way to manage your payments long-term. To get started:
- Create a MyCarMax account
- Verify your email (this might take up to an hour)
- Have your CarMax Auto Finance account number handy (it’s on your welcome letter)
- Log into MyCarMax
- Select “Register your account” and follow the prompts
Once set up, you can make payments, set up recurring payments, and even get payment reminders sent to your email.
2. The CarMax App
If you’re always on your phone (who isn’t these days?), the CarMax app might be your best option. You can download it and manage your account securely while on the go.
3. Mail-In Payments
For those who prefer the traditional route, you can send your monthly payment by mail to:
CarMax Auto FinanceP.O. Box 6045Carol Stream, IL 60197-6045Pro tip: Write your account number on all forms of payment and mail it 7-10 days before the due date to ensure it arrives on time. I’ve had a payment delayed in the mail before, and it’s not fun dealing with late fees!
4. Western Union
If you need to make a same-day payment and there’s a Western Union location near you, this could be a good option. Call (800) 238-5772 to find the nearest location. Use “CarMax” for the country code and “Georgia” for the state code. Don’t forget to include your account number!
Payments typically post within one business day, but Western Union will charge a fee for this service.
5. MoneyGram ExpressPayments Service
Similar to Western Union, MoneyGram offers a quick payment option. Call 1-800-MoneyGram to find the closest location. At the agent location, provide:
- Receive Code “4645”
- Company name “CarMax”
- City “Kennesaw”
- State “GA”
- Your account number
Again, these payments usually post within one business day, but MoneyGram charges a service fee.
Making Special Types of Payments
Principal-Only Payments
If you’re trying to pay down your loan faster (smart move!), you might want to make principal-only payments. For these, CarMax recommends calling them directly at (800) 925-3612.
Final Payoff
Planning to pay off your loan completely? There are specific addresses for final payoffs:
For regular mail:
CarMax Auto FinanceAttn: Payoff DepartmentP.O. Box 440609Kennesaw, GA 30160For express mail or overnight delivery:
CarMax Auto FinanceAttn: Payoff Department225 Chastain Meadows Court Suite 210Kennesaw, GA 30144Frequently Asked Questions About CarMax Payments
When is my first payment due?
One cool thing about CarMax is that you get to select your first payment date. You can choose any date up to 45 days from your contract date, which gives you some flexibility if you’re tight on funds right after purchasing.
Where can I find my CarMax Auto Finance account number?
Your account number should be on the welcome email or letter you received after financing. If you can’t find it, just call customer service at (800) 925-3612, and they can help you out.
What happens if I can’t access my online account?
Access to your online account may become restricted if your account is 75 or more days past due, you’ve filed for bankruptcy, or you have multiple returned payments. If this happens, you’ll need to call or use one of the other payment methods.
Can military members get special benefits?
Yes! If you’re a servicemember, you can request benefits under the Servicemembers Civil Relief Act (SCRA). You can submit your request:
- Over the phone: (800) 925-3612
- Via email: [email protected]
- By fax: (866) 841-4386
- By mail (see earlier section for address)
Real Customer Experiences with CarMax Financing
I’ve been digging around forums to see what other customers say about their CarMax financing experiences. The feedback is mixed, but here are some common themes:
One customer mentioned: “I took my truck in the other week to see how much they would give for it. Kelly blue book for trade in good condition was 7500, they offered 7000.”
Another shared: “The last three cars I ‘traded’ carmax beat the dealer by 1500, 2800 and 3500.”
A former CarMax employee noted that CarMax spends more money and time reconditioning their used vehicles than most other used car lots, which might explain why their cars sometimes cost a bit more.
Regarding financing specifically, several customers appreciated the “no-haggle” approach but noted that their interest rates weren’t always the most competitive. As one customer pointed out: “The lowest rate I’ve seen through any of Carmax’s banks is about 6.9%.” This is something to keep in mind – you might want to shop around for financing before committing.
Tips for Managing Your CarMax Auto Finance Account
Based on my experience and research, here are some tips to make managing your CarMax payments easier:
-
Set up autopay if possible. This ensures you never miss a payment, which helps your credit score and prevents late fees.
-
Consider refinancing after 6-12 months if you have improved your credit score significantly. You might qualify for a better rate.
-
Check your statements regularly, even if you use autopay. Mistakes happen, and it’s always good to stay on top of your finances.
-
Make additional principal payments when you can afford it. This reduces the total interest you’ll pay over the life of the loan.
-
Keep your contact info updated with CarMax. If they need to reach you about your account, you don’t want to miss important communications.
-
Download the CarMax app for easy account management on the go.
-
If you’re struggling to make payments, call them early. They might be able to work with you on payment arrangements before your account becomes delinquent.
Final Thoughts on Managing Your CarMax Payments
Making car payments shouldn’t be complicated, and CarMax offers plenty of options to fit your lifestyle. Whether you prefer the convenience of paying by phone, the ease of online payments, or the reliability of mail-in payments, there’s a solution that works for you.
Remember, the key to successful auto financing is staying on top of your payments and communicating with your lender if issues arise. With the phone number and payment information in this guide, you’re well-equipped to manage your CarMax auto loan with confidence.
Have you had experience with CarMax financing? What payment method works best for you? Drop a comment below – I’d love to hear about your experiences!
General Account Information FAQ
Simple Interest / Finance Charges – Your Retail Installment Contract with CarMax Auto Finance is a “simple interest” contract. This means that finance charges (the dollar amount you pay for credit) accrue daily, beginning on the date of your contract, and are based on your Annual Percentage Rate (APR), the number of days since the last payment, and the outstanding principal balance as of the last payment.
Generally, if your payments are late or less than your scheduled amount, then you may owe more in finance charges. If your payments are early or more than your scheduled amount, then you may owe less in finance charges. As a result, your payment history will determine whether your final payment amount is more or less than originally scheduled in your contract.
Your payments will be applied first to finance charges, then to any late charges, then to principal balance, and finally to any fees assessed on your account, as allowed by applicable law.
The formula to calculate your daily finance charge is as follows:Daily Finance Charge = Principal Balance x APR / 365 (days a year)
Example Current principal balance of $10,000.00 and finance charge rate (APR) of 10%: ($10,000.00) x (.10) / 365 = $2.74 Daily Finance Charge. This means $2.74 in finance charges accrue each day.
We apply your payments first to finance charges that have accrued since your last payment, and then toward your principal balance. We apply any remainder to future scheduled payments and/or fees as they become due. Note: Your monthly statement is generated 18 days in advance of your next scheduled due date. If your account has an outstanding balance, we will apply your payment in the following order: first, to satisfy the outstanding balance; second, to finance charges that have accrued since your last payment; third, to your principal balance. Any remainder will be applied to future scheduled payments and/or fees as they become due.
We apply payments first to finance charges that have accrued since your last payment, and then toward your principal balance.
Its the time after a payment is due and before a late charge is assessed. Grace periods vary based on applicable law, which in turn depends on where you purchased your vehicle and signed your retail installment contract. We recommend mailing your payment 7-10 days in advance to allow for timely receipt. Despite grace periods, your monthly payment is still due by the due date.
If you fail to make a payment within the grace period, a late charge will be assessed. If we receive a payment near the end of the grace period, allow 1-2 business days for the payment to be processed and credited to your account. If, in such a case, a late charge is assessed, it will automatically be removed upon our processing and crediting your payment.
We apply payments first to finance charges that have accrued since your last payment, and then toward your principal balance. We apply any excess payment amount to future scheduled payments and/or fees as they become due. Note: Your monthly statement is generated 18 days ahead of your next scheduled due date. If your account has an outstanding balance, we will first apply your payment to your outstanding balance; second, to finance charges that have accrued since your last payment; third, to your principal balance. Any remainder will be applied to future scheduled payments and/or fees as they become due.
Example 1: If you have a $100 regular payment amount due February 1st (with no past due, no partially satisfied outstanding balance and no fees due), and you pay $150 on February 1st, your payment will be applied as follows:
- $100 will satisfy your February 1st regular payment amount (which includes finance charges accrued since your last payment as well as principal balance).
- The remaining $50 will go toward future scheduled payments.
Example 2: If you have a $100 regular payment due February 1st (and no past due, no partially satisfied outstanding balance and no fees due), and you pay $500 on February 1st, your payment will be applied as follows:
- $100 to satisfy your February 1st regular payment amount (which includes finance charges accrued since your last your last payment as well as principal balance).
- The remaining $400 will reduce your principal balance and go toward future scheduled payments.
- The next scheduled monthly will be due July 1st. To reduce the amount of finance charges paid over the term of your account, we recommend you continue making monthly payments.
Note: If a fee becomes due before a future scheduled payment is due, the payment will satisfy the fee balance, then the principal balance and then future scheduled payments. If you would prefer not to have excess payment amounts applied to future scheduled payments, please call us at (800) 925-3612
Example 3: If you have a $100 regular payment due February 1st, a past due balance of $50 from January, with a late fee of $5 and you pay $500 on February 1st, your payment will be applied as follows:
- $50 to satisfy your outstanding partial balance (which includes finance charges accrued since your last payment as well as principal balance).
- $100 to satisfy your February 1st regular payment amount (which includes finance charges accrued since your last payment as well as principal balance).
- $5 to satisfy your late fee.
- The remaining $345 will reduce your principal balance and go toward future scheduled payments.
- The next scheduled payment will be due June 1st for $55. To reduce the amount of finance charges paid over the term of your account, we recommend you continue making monthly payments.
If you would prefer not to have excess payment amounts applied to future scheduled payments, please call us at (800) 925-3612.
Example 4: If you have a $100 regular payment due February 1st with a late fee of $5 and your March 1st statement was sent (see note on statement timing below). You make a payment of $105, which will be applied as follows:
- $100 to satisfy your February 1st regular payment amount (which includes finance charges accrued since your last your last payment as well as principal balance).
- The remaining $5 will reduce your principal balance and go toward your future scheduled payment.
- The next scheduled payment will be due March 1st for $95. To reduce the amount of finance charges paid over the term of your account, we recommend you continue making monthly payments.
- The $5 late will remain outstanding and will be satisfied if a $100 payment is received before the next statement is sent.
Statements, including future scheduled payments that are due, are generated 18 days ahead of the scheduled due date.
CarMax Auto Finance does not currently offer refinancing. If you decide to refinance with another financial institution, theres no penalty for paying off your account early.
Your final payment amount can vary depending on your payment history, and may include any amount past due, plus other previously assessed unpaid fees.
If you regularly made payments after your due date, more finance charges would have accrued on your account, causing your final payment to likely be higher than the regularly scheduled amount. You could also have a higher final payment if you requested an extension, due date change, or encountered any returned payment fees or repossession costs. If you have a higher final payment, we will let you know 12 payments and 6 payments prior to your account reaching maturity.
Yes, however, even if you are paid-ahead, finance charges will continue to accrue daily on your account. The next payment you make will be applied first to the finance charges that have accrued since the last payment you made. To reduce the amount of finance charges paid over the term of your account, we recommend you continue making monthly payments. If you would prefer not to have excess payment amounts applied to future scheduled payments, please call us at (800) 925-3612.
Setting up a recurring payment is easy! Simply sign in to your account online at www.carmaxautofinance.com. Once you’re signed in, click the Set Up Recurring Payment button on the right side of the screen. Under Payment Information, enter a Payment Amount and select the Next Payment Date of your choice. You can also select a payment Frequency of monthly, weekly, or every two weeks.
If you dont have a payment method saved to your account yet, youll need to add one. You can do so by clicking Use a New Payment Account in blue next to Saved Payment Methods. Youll be prompted to enter your Bank Routing Number and Bank Account Number. Once you enter your Bank Account Number, a new field will appear to Re-enter Bank Account Number. From here, select the Bank Account Type – Checking or Savings, you also have the option to select if it is a business account. You can add an Account Nickname as an option.
Enter a valid Email Address and select Continue at the bottom. You’ll have the chance to review the Payment Details and the Payment Method on the next page.
Once youve reviewed and accepted the Terms and Conditions, click Confirm. Youll receive a confirmation on the next screen along with a reference number. Youll also receive a confirmation email with the details of your recurring payment.
Once youre signed in to your account online, select View and Edit Payments from the menu on the right. On the next screen, click Scheduled Payments at the top to view your recurring payment details.
When it comes to managing your account, we provide efficient options that will work best for you. You are able to choose how you’d like to view your monthly statements and how they’re delivered.
Please see the available statement delivery options below:
- Online statements only (recommended)
- Online statements and mailed statements
- If youre receiving online statements, you can also select to receive an email notification when your statement is available to view.
To choose your statement delivery preference, follow these easy steps below:
- Log in to carmaxautofinance.com
- Select View Statements and scroll to Statement Preferences
- Select your preferred statement delivery options
- Select Save Changes to finalize your preferences
Yes, both a primary applicant and a co-buyer will have the ability to establish their own individual access to the CarMax Auto Finance account. As a co-buyer, set up your own MyCarMax account, then, simply enter the account number, the last 4-digits of your social security number, your date of birth and agree to the E-Sign Consent and Online Account Services Agreements to create your own association to the account. Please note that access to your online account (and your ability to make online payments) may become restricted based on your account status or payment history (e.g., 75 or more days past due; bankruptcy; or multiple returned payments).
As long as the last 4-digits of your social security number and your date of birth match the existing account, youll automatically access the new account. The new account will appear on your overview page when you log onto your CarMax Auto Finance account. If you are unable to access the new account, please contact customer service for assistance at 800-925-3612.
You can easily access your statements by signing in to your MyCarMax account and selecting View Statements. If you have not registered your CarMax Auto Finance account online, you can register here.
Once your statement is posted to your online account, it will be available for 13 months.
View our How to Read My Statement Guide for information on reading your statement.
No. Newly registered online customers will receive online statements only. If you are the primary account holder, you can choose to also receive mailed statements. Just sign in to MyCarMax, select View Statements, and update your statement preferences. Please note that your account status may limit your access to change these preferences.
Your statement will be generated 18 days prior to your first due date. If you are registered for an online statement, it will be posted within four days of creation.
Sign in to MyCarMax and select View Statements. From here, you can opt out of receiving statement email alerts. Please note that your account status may limit your access to change these preferences.
Updating Account Information FAQ
Register with MyCarMax, and click the profile link on your CarMax Auto Finance account overview page.
You can also call us at (800) 925-3612.
Please forward a written request* of the name change, along with a copy of your marriage certificate or divorce decree to: CarMax Auto Finance Attn: Customer Service P.O. Box 440609 Kennesaw, GA 30160 * Please include your account number on the request Upon receipt, we will update your account within two business days.
We offer free SMS text messages to help better manage your account. These messages may include payment reminders, account notifications, and/or features that may be available to you. You may opt-out at any time by texting STOP to 80817 or replying STOP to any message you receive from us. For assistance, you can text HELP to 80817 or reply HELP to any message you receive from us. For additional assistance with your account or account preferences, you can also call us at (800) 925-3612. For more information, view CarMax Auto Finance Text Message Terms and Conditions.
PARTICIPATING WIRELESS CARRIERS: AT&T, T-Mobile USA, U.S. Cellular Corp., Verizon Wireless, Interop, ClearSky, and additional carriers where available.
Carriers are not liable for the delayed or undelivered messages. Message frequency varies.
