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CarMax Company Profile

What the company is doing

CarMax, Inc. is a retailer of used vehicles that lets consumers shop cars from all over the United States. The company also operates a few franchised new-car dealerships.

How big it is

CarMax owns about 160 used car stores located in more than 70 metropolitan markets. Locations include Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, North Carolina, Nebraska, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.

History of the brand

CarMax was first founded by Circuit City executives in 1991. It was first put under development for about one year and dubbed “Project X.” The company was launched in 1992, and later separated itself from Circuit City in 2002. It remains an independent company till date.

Business directions

CarMax carries out its operations in two divisions: CarMax Auto Finance (CAF) and CarMax Sales Operations. The former provides vehicle financing through its stores while the latter deals with service operations and auto merchandising.

Key facts

CarMax was the first company to come up with used-car superstores. The idea of having a convenient location where people could view a large inventory of cars had never been implemented before. Today, it’s a Fortune 500 Company that employs about 40 salespeople at each facility.

Mission and Vision

CarMax’s vision is to be transparent and honest in all the transactions it carries out in the automotive industry.

Its mission is to help customers shop for cars the way they do other items from national retailers.

FAQ

Is CarMax a good deal?

Most buyers and sellers hold the general opinion that CarMax is good. They liked the car buying experience, wide selection of vehicles, and customer service.

Can you negotiate price with CarMax?

CarMax offers “no-haggle prices” for its cars that are non-negotiable.

Does CarMax have hidden fees?

Some CarMax locations charge handling and processing fees for paperwork involved in the sale of a car.

Typical Hours of Operation

Mo 10:00 - 21:00
Tu 10:00 - 21:00
We 10:00 - 21:00
Th 10:00 - 21:00
Fr 10:00 - 21:00
Sa 9:00 - 21:00
Su Closed

Locations: 193 locations in 41 states and 176 cities.

Categories

  • Used Car Dealers
  • Used Truck Dealers

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