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CarMax, which already has two used-vehicle dealerships in Fort Worth (plus another in nearby Hurst), wants to open another location here.
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, opening its first location in September 1993 in Richmond, Virginia. As of October 2022, CarMax operates 238 locations. [3]
In November 2014, Elie Wurtman and Allon Bloch joined as co-founders to transform the company into a technological platform and the company was renamed Vroom. It also has a refurbishment facility in Stafford, Texas [6] and was included on Forbes’ list of the Hottest E-Commerce Startups of 2015. [7] Vroom's current CEO is Tom Shortt.
DriveTime is a private company headquartered in Tempe, Arizona. [3] The company's business model is focused on selling previously owned vehicles to car-buyers. [4] It uses a proprietary credit scoring model to finance car purchases at its dealerships in-house, [5] [6] including subprime lending.
CarMax boasts a wide selection of vehicles, ensuring that every buyer has an option that meets their needs. Even better, you can also find cars in person at a CarMax location local to you. Pros
What to know before buying a used car online. For premium support please call: 800-290-4726 more ways to reach us
The team rejected several proposed names, including "Honest Rick’s Used Cars" and "Sharp Motors" before choosing CarMax. [2] Co-founded by Sharp in 1993, CarMax grew to $12.5 billion in annual sales at approximately 135 locations by 2013. [2] Sharp hired Thomas J. Folliard as one of CarMax's first employees.
The company was an early adopter of the "haggle-free" approach to pricing used cars, later used by competitor CarMax and online used car retailers like Carvana. While most small used car dealers sell vehicles " as is ", Enterprise offers a 7-day/1,000-mile buyback policy, a 12-month/12,000-mile limited powertrain warranty and 12 months of ...