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Welcome to the CarMax app. Designed to make your next car journey more convenient, whether you’re buying with us, scheduling a test drive or paying off your loan. Download and get started today!

CARM

Acting with integrity, honesty, and transparency in all business dealings and customer interactions.

Do the Right Thing

Prioritizing the needs and well-being of customers, associates, and communities in every decision.

Put People First

Fostering collaboration, teamwork, and shared success across all levels of the organization.

Win Together

Pursuing excellence and continuous improvement in products, services, and customer experiences.

Go for Greatness

CarMax is the nation's largest retailer of used cars, offering a no-haggle pricing model and a wide selection of quality pre-owned vehicles. With over 250 locations nationwide, CarMax provides customers with an omnichannel car buying experience that blends online convenience with in-person support.

Open-source software for tracking and analyzing CarMax vehicle data

DealerData

A robust fine-mapping method for admixed populations

CARMAX

An image + data web scraper build to crawl the CarMax website and store relevant information for vehicle identification projects.

Data-Collection-for-CarZam

carmax-asp.net

Carmax

Why CarMax Makes More Money on Used Cars Than Anyone Else

Carvana Stock, CarMax Sink as Amazon Enters Online Car Sales

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CarMax creates car research tools powered by Azure OpenAI Service

Creating a Sustainable Continuous Discovery Practice at CarMax [Case Study]

David McCreight

Interim President & CEO

Tom Folliard

Interim Executive Chair of the Board

Enrique N. Mayor-Mora

Executive Vice President & Chief Financial Officer

Diane Cafritz

EVP, Chief Innovation and People Officer

James R. Lyski

EVP & Chief Innovation and Strategy Officer

Shamim Mohammad

EVP & Chief Information and Technology Officer

Jon Daniels

EVP, CarMax Auto Finance

CarMax, Inc. is a used vehicle retailer based in the United States. It operates two business segments: CarMax Sales Operations and CarMax Auto Finance. The company began as a side business of Circuit City Corporation, Inc., opening its first location in September 1993 in Richmond, Virginia. As of January 2025, CarMax operates 253 locations. While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996. By 1999, it added new vehicle franchises for Mitsubishi Motors, Toyota, and Nissan. In late 2021, CarMax sold its last new vehicle dealership, located in Kenosha, Wisconsin, to the Rydell Company.

CarMax's core business offering over 50,000 quality used vehicles across 250+ retail locations nationwide. Each vehicle is mostly five years old or newer, with three-year-old off-lease vehicles comprising the largest inventory share. Customers can browse online or visit stores with no-haggle, transparent pricing.

Used Car Sales

Comprehensive vehicle financing solutions offering competitive rates and flexible terms for customers purchasing vehicles. Customers can secure financing through CarMax's lending platform with streamlined application and approval processes integrated into the buying experience.

CarMax Auto Finance

Complimentary 90-day/4,000-mile limited warranty included with every CarMax vehicle purchase at no additional cost. Covers major systems and hundreds of parts inside and out, including labor, providing peace of mind for buyers.

Limited Warranty

Optional extended warranty coverage providing repair protection for up to five years or 150,000 miles beyond the manufacturer's warranty. Covers major systems including engine, transmission, electronics, and more, with 24/7 roadside assistance, rental car reimbursement, and service at any licensed facility in the U.S. or Canada. Nearly 4 million customers have purchased MaxCare plans since 2009.

MaxCare Extended Service Plans

Comprehensive digital experience allowing customers to browse inventory, get instant trade-in offers, apply for financing, and complete much of the purchase process online. 95% of customers engage online before purchase, with 70% using digital features for transactions. Online sales represent 29% of total revenue.

Online Car Buying Platform

Digital tool developed in partnership with Edmunds that provides instant cash offers for customers selling their used vehicles. Allows consumers to get real-time valuations online and sell their cars to CarMax regardless of whether they're purchasing a vehicle, making CarMax the largest online buyer of used cars from consumers.

Instant Offer for Sellers

Comprehensive vehicle inspection and reconditioning process averaging over 12 hours per vehicle. Checks frame and structural integrity, all major mechanical systems, operational controls, switches, and interior/exterior condition. Multiple quality control reviews ensure every vehicle meets CarMax standards before sale.

125+ Point Inspection

CarMax announced that CEO Bill Nash is stepping down effective December 1, 2025, after nearly nine years leading the company. Board member David McCreight was named Interim President and CEO, while former CEO Tom Folliard (2006-2016) was appointed Interim Executive Chair. The leadership change came alongside a preliminary outlook showing comparable store used unit sales decreasing 8%-12% for the fiscal third quarter.

CarMax Announces Leadership Changes: David McCreight Named Interim CEO

CarMax achieved over 80% earnings growth in the fourth quarter of fiscal year 2025 (ended February 28, 2025), with net revenues of $6.0 billion, up 6.7%. Retail used unit sales increased 6.2% and comparable store sales rose 5.1%. Total gross profit reached $667.9 million, up 13.9%, driven by unit volumes and strong unit margin performance. Net earnings per diluted share increased 81.3% to $0.58.

CarMax Reports Fourth Quarter and Fiscal Year 2025 Results

CarMax celebrated the grand opening of its first Arkansas location in Rogers, marking the company's 255th store nationwide. The expansion continues CarMax's strategic growth across new markets, bringing the company's no-haggle pricing and quality used car selection to Arkansas customers for the first time.

CarMax Opens First Arkansas Store in Rogers

CarMax reported retail used unit sales increased 5.4% in the third quarter of fiscal year 2025. Total gross profit reached $677.6 million, up 10.6% from the prior year. The company continued to see strong customer engagement with its omnichannel platform, with 95% of customers engaging online before making purchases.

CarMax Reports Third Quarter Fiscal Year 2025 Results

CarMax reported retail used unit sales increased 5.1% and comparable store sales rose 4.3% in the second quarter of fiscal year 2025. The company announced expansion of its asset-backed securitization program to enable incremental growth in finance income, demonstrating confidence in its financing operations.

CarMax Reports Second Quarter Fiscal Year 2025 Results

CarMax announced layoffs affecting approximately 350 employees nationwide, including 25 in the Richmond area. The workforce reduction is part of operational efficiency initiatives as the company navigates market challenges and positions for long-term growth under new leadership.

CarMax Implements Workforce Reductions

CarMax reported fiscal first quarter 2025 results showing retail used unit sales decreased 3.1% compared to the prior year. Despite the decline, the company maintained focus on its digital transformation efforts, with online transactions accounting for 15% of retail unit sales and 29% of revenue coming from online channels.

CarMax Reports First Quarter Fiscal Year 2025 Results

Just Left CarMax After 5+ Years—Here’s What I Have to Say

Leaving Carmax after 2 years +. My honest thoughts.

Thoughts on Carmax?

Buying a car from carmax. Worth it

Buying from carmax

CarMax for dummies, pls. Honest thoughts, pls. 1st time car buyer.

Who is better Carmax or Carvana?

carmax

UsedCars

carbuying

whatcarshouldIbuy

CARMAX INC

CarMax opened its first Auto Superstore in Richmond, Virginia as a subsidiary of Circuit City, introducing the revolutionary no-haggle pricing model to the used car industry with 500 vehicles on display.

Company Founded

Circuit City issued the first CarMax tracking stock when the company had seven locations, providing public market access while remaining under the Circuit City umbrella.

Initial Public Offering

CarMax recorded its first annual profit, demonstrating the viability of its revolutionary used car retail model and validating the investment in expansion.

First Annual Profit

CarMax officially separated from Circuit City as an independent publicly traded company on the NYSE with ticker symbol KMX, valued at over $1.2 billion at the time of separation.

Spinoff from Circuit City

CarMax opened its first dedicated reconditioning center to improve quality control and vehicle preparation efficiency, standardizing the 125+ point inspection process.

First Reconditioning Center Opens

Tom Folliard was appointed CEO, succeeding company founders and leading CarMax through a decade of significant expansion and early digital initiatives until 2016.

Tom Folliard Becomes CEO

CarMax launched its online car buying experience, allowing customers to browse inventory, get trade-in offers, and begin the purchase process digitally, adapting to evolving consumer preferences.

Online Car Buying Launch

Bill Nash was named President and CEO, leading the company's digital transformation and omnichannel strategy development over the next nine years until December 2025.

Bill Nash Appointed CEO

CarMax invested $50 million to acquire a minority stake in Edmunds, the leading automotive research and shopping platform, beginning a strategic partnership.

Strategic Investment in Edmunds

CarMax completed the acquisition of the remaining shares of Edmunds for a total enterprise value of $404 million, significantly enhancing digital capabilities and becoming the largest online buyer of used cars from consumers.

Edmunds Acquisition Completed

CarMax completed fiscal year 2024 with $26.35 billion in revenue and 250 store locations serving customers across 109 U.S. television markets.

Fiscal Year 2024 Completed

CarMax achieved over 80% earnings growth in Q4 fiscal year 2025, with net revenues of $6.0 billion up 6.7%, demonstrating strong operational execution and market demand.

Record Q4 Earnings Growth

CarMax announced CEO Bill Nash's departure effective December 1, 2025, with David McCreight named Interim CEO and Tom Folliard appointed Interim Executive Chair to guide the company through transition.

Leadership Transition Announced

David McCreight and Tom Folliard assumed their interim leadership roles, implementing strategic changes including a four-day-per-week office return policy and workforce optimization initiatives.

New Leadership Takes Effect

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