# CarMax

> CarMax is the largest used-car retailer in the United States, built on a single idea that felt radical in 1993: sell used cars at a fixed, no-haggle price. From one store in Richmond, Virginia, it has grown to more than 250 locations across 41 states and a nationwide online marketplace, selling roughly 789,000 used vehicles a year. It pairs that inventory with an in-house lender, CarMax Auto Finance, and an omnichannel model that lets a customer shop, get financed, trade in, and buy entirely online, entirely in-store, or any mix of the two.

- **Founded:** 1993
- **Headquarters:** Richmond, Virginia, United States
- **Founders:** Richard L. Sharp (Circuit City CEO who championed the CarMax concept), W. Austin Ligon (Co-founder and first CarMax CEO)
- **Team size:** ~28,000 employees
- **Products:** Used vehicle retail, CarMax Auto Finance (CAF), Sell / trade-in and Instant Offer, Omnichannel buying, MaxCare extended service plans
- **Notable:** Largest used-vehicle retailer in the United States, Pioneered no-haggle, fixed pricing in used-car retail starting in 1993, Sold approximately 789,050 used units in fiscal 2025, up about 3.1%

## Products & services

- **Used vehicle retail** — A no-haggle, fixed-price selection of used cars, trucks and SUVs, each put through a roughly 125-point inspection, with a nationwide inventory shoppable online and shipable between markets.
- **CarMax Auto Finance (CAF)** — In-house auto lending that originated more than $8 billion in receivables in fiscal 2025 on a portfolio near $18 billion, alongside offers from third-party lenders.
- **Sell / trade-in and Instant Offer** — An online tool that produces a real, no-obligation cash offer on a customer's car in minutes, redeemable whether or not they buy from CarMax.
- **Omnichannel buying** — A shop-online, buy-anywhere experience that lets customers complete a purchase fully online, fully in-store, or in any combination, including home delivery and store pickup.
- **MaxCare extended service plans** — Optional extended protection plans with roadside assistance and rental reimbursement offered on every vehicle sold.
- **Return policy and warranty** — A money-back guarantee return window and a limited warranty on every purchase, backing the fixed-price promise.

## Achievements

- Largest used-vehicle retailer in the United States
- Pioneered no-haggle, fixed pricing in used-car retail starting in 1993
- Sold approximately 789,050 used units in fiscal 2025, up about 3.1%
- CarMax Auto Finance originated over $8 billion in loans in fiscal 2025
- Named to Fortune's 100 Best Companies to Work For for 21 consecutive years
- Grew from one Richmond store in 1993 to more than 250 stores in 41 states

## Latest updates

- **2025-11** — CEO Bill Nash announced he would step down effective December 1, 2025, with board member David McCreight named interim president and CEO and former CEO Tom Folliard appointed interim executive chair.
- **2025-09** — In fiscal Q2 2026, omnichannel sales reached 68% of retail sales and online retail was about 12% of used unit sales.
- **2025-04** — Reported fiscal 2025 results: ~$26.4 billion in revenue, used unit sales up 3.1% to 789,050, and gross profit up 6.8%.

## Links

- Website: https://www.carmax.com
- LinkedIn: http://www.linkedin.com/company/carmax
- Twitter/X: https://twitter.com/CarMax
- YouTube: https://www.youtube.com/user/CarMax
- Instagram: https://www.instagram.com/carmax
- Facebook: https://www.facebook.com/CarMax
- TikTok: https://www.tiktok.com/@carmax

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Profile page: https://yespress.io/carmax
Published by YesPress — https://yespress.io
Last updated: 2026-08-12