CarMax, founded in 1993, is the largest retailer of used cars in the United States. The company operates more than 240 stores across 41 states and is a Fortune 500 company. Its business model centres on transparent, no-haggle pricing, aiming to simplify what has traditionally been a complex purchasing process.
The company's offerings extend beyond vehicle sales. CarMax provides certified quality inspections and detailed history reports on its used vehicles. It also operates CarMax Auto Finance, offering in-house financing, and MaxCare extended service plans for long-term vehicle protection. On the wholesale side, CarMax Auctions conducts dealer-only transactions.
CarMax describes its culture as people-first, combining technology with a focus on straightforward customer interactions. The no-haggle pricing model is a defining feature of its retail approach, applied consistently across its national footprint.
