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My 20-yr old daughter, graduating college this month, has a full time job AND a near-700 credit score. I’ve offered to help her with a 20% down payment on a gently used Carmax vehicle. She contacts them. They give her a price and really glossed over the interest rate. I mean she didn’t really have any idea how much interest they were attempting to charge her.

25%! Twenty-five percent interest! According to Credit Karma, nobody did a real credit check on my daughter. Her boyfriend (same age and financial situation) walked into a local dealer and drive out with a 6% interest rate. Isn’t this called USURY?! That’s been illegal forever.

Fortunately, we found out about it and halted the procedure (shipping the vehicle to Rochester) and got her shipping money back. But how DARE THEY skip the credit check and just dump a 25% interest rate on a young kid?!

Please address this. Warn others. This may be endemic to their entire business plan nationwide. Who else can I contact regarding this. I’ve already sent a scathing email to Carmax. But I don’t feel satisfied. They attempted to financially cripple my child!

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