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While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996. [4] By 1999, it added new vehicle franchises for Mitsubishi Motors, Toyota, and Nissan. [5] In late 2021, CarMax sold its last new vehicle dealership, located in Kenosha, Wisconsin, to the Rydell Company. [6]
When looking at those cars traded in to buy used EVs at CarMax during the September 2022 to February 2023 timeframe, CarMax found the top traded-in vehicle type were SUVs, at around 40%, followed ...
A certified used car, often called a certified pre-owned vehicle or CPO, offers the best of both worlds: a promise of reliability and a warranty combined with a lower price than a new vehicle.
CarGurus is an automotive research and shopping website that assists users in comparing local listings for used and new cars and contacting sellers. CarGurus uses algorithms to analyze and compare prices and features on cars for sale. [7]
Carvana Co. is an online used car retailer based in Tempe, Arizona. [2] As the fastest growing online used car dealer in the United States, it is known for its glass tower "car vending machines". [3] [4] [5] Carvana was named to the 2021 Fortune 500 list, one of the youngest companies to be added to the list. [6]
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.
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