Paying Your Carmax Auto Loan the Easy Way

When you finance a car through Carmax Auto Finance, you have the responsibility of making monthly payments on your auto loan. Rather than mailing checks, Carmax offers convenient ways to pay your bill online or over the phone. In this article, we’ll look at the different options for paying your Carmax loan and how to easily set up payments.

Overview of Carmax Auto Finance

Carmax is the nation’s largest retailer of used cars. When you purchase a vehicle at one of their dealerships you may take out a car loan issued by Carmax Auto Finance. This lending arm of Carmax provides financing opportunities for qualifying customers.

If Carmax finances your vehicle purchase you will receive a loan agreement that outlines the total amount borrowed, interest rate, and monthly payment amount. Payments must be made each month to Carmax Auto Finance until the loan is paid off.

Ways to Pay Your Carmax Auto Loan

When you have a loan through Carmax, there are a few different payment options:

• Mail checks – You can mail paper checks to Carmax each month. Use the payment mailing address:

Carmax Auto Finance
P.O. Box 3174
Milwaukee, WI 53201-3174

• Phone payments – Call (800) 925-3612 to make a payment over the phone using a bank account or credit card.

• Online payments – Register for online account access to pay your bill digitally.

• Auto-pay – Set up recurring monthly payments to be made automatically from your bank account.

Benefits of Paying Carmax Online

Paying your Carmax loan online through your online account has many advantages:

• Convenience – Pay in seconds anytime, anywhere without writing and mailing checks

• Payment tracking – Monitor payment history and confirm when payments are made

• Avoid late fees – Online payments process instantly so you never miss a due date

• Auto-pay – Set up hands-free recurring payments from your bank account

• Account access – View loan balance, statements, payment schedule etc. in one place

• Secure payments – Carmax utilizes encryption and security measures to protect your data

How to Set Up a Carmax Online Account

To pay your Carmax auto loan online, you first need to register for an account:

1. Go to Carmax.com and click on “My Carmax”

2. Click on “Don’t have an account? Sign up”

3. Enter your Carmax Auto Finance account number, last name, and ZIP code

4. Create a username and password

5. Provide your contact information and agree to the terms

6. Complete email verification

Once your Carmax account is created, you can immediately start making payments online.

Steps to Pay Carmax Bill Online

Follow these steps to pay your auto loan through your Carmax account:

1. Log into your Carmax account

2. From the accounts dashboard, select your auto loan account

3. Click on “Make Payment”

4. Enter the payment amount (usually the monthly installment due)

5. Provide bank account or card details

6. Review payment details and submit

7. You’ll receive immediate payment confirmation by email and in your account

The funds will quickly process to pay down your balance. Paying online ensures your payment arrives on time!

Setting Up Auto-Pay Through Carmax

For hands-free convenience, you can enable auto-pay in your Carmax account:

1. Under Account Settings, click on “Manage AutoPay”

2. Choose your bank account to use for automatic payments

3. Select the day each month that payments should process

4. Review and enable auto-pay

5. Your monthly payments will now be made automatically!

Easy Carmax Bill Pay Online

Paying your Carmax auto loan doesn’t need to be a hassle. Register for an online account to access convenient digital payment options and automated billing management. You’ll save time and avoid late fees – paying your Carmax loan online makes life a little easier!