Long story short.....
Start vent::::::
Refinanced my 15% CarMax loan with MCCU at 6%.
MCCU mails check to payoff address on CarMax payoff letter.
20 days later, still not showing paid, so I call CarMax Finance. They tell me no check received and advise me to cancel check and send another as it went to the wrong address. They then gave me a new address for new check.
I have MCCU cancel check and mail a new one.
CarMax payment due, so I make another payment to avoid a late fee.
7 days later, I get a check in the mail from CarMax for over paid amount, above payoff.
I deposit it in MCCU.
4 days later, CarMax calls saying they canceled the refund check because MCCU canceled the original payoff CarMax check they instructed me to have them cancel because they never got it (even though they obviously cashed it), and that they issued a new check after cashing the 2nd MCCU payoff.
MCCU hits me with a $10 canceled check fee due to CarMax canceling the first refund check I deposited for overpaying on the first check they said they never got, but obviously cashed.
Neither party accepts any responsibility, won't waive fees and won't reimburse the $10.
::::Vent over
It's only $10, but the whole situation + 2 hours of phone time was frustrating. It's not MCCU's fault.
I won't ever be Financing anything with CarMax in the future. Done!
Just be aware of the above potential frustration if you Finance through CarMax.
@WildestDreams wrote:I get it... the incompetence makes the $10 feel like $2200. Ugh.
However...
YAY! and congrats on the huge rate savings
Thanks.
Happy about the MCCU refinanced 6% 😉
Blah @ CarMax frustration