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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 January 2025, CarMax operates 253 locations. [3]
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CarMax is a used car auto superstore concept developed in 1991 at Circuit City by Austin Ligon, then Circuit City's Senior VP of Planning, and Rick Sharp, then Circuit City CEO. The goal of CarMax was to revolutionize used car retailing through a combination of large selection (400+ used cars at each store); low, no-haggle pricing; guaranteed ...
Their main focus was to try and used different ways to avoid closure. The National Dealers Association look at the crisis from the 1970s to see what effects it had on the car business. [37] In mid-2015, NADA sold its 82-year-old Used Car Guide business to J.D. Power and Associates.
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
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Credit Acceptance Corporation is an auto finance company providing automobile loans and other related financial products. The company operates its financial program through a national network of dealer-partners, the automobile dealers participating in the programs.
Although the terms of installment contracts are negotiated by the dealer with the buyer, few dealers make loans directly to consumers. In the business, such dealers are called "Buy Here Pay Here" dealerships. These stores can make loans directly to customers because they have some means of recovering the vehicle if the customer defaults on the ...