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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.
The electric car company Tesla has faced dealership disputes in several US states as a result of local laws. In the United States, direct manufacturer auto sales are prohibited in many states by franchise laws requiring that new cars be sold only by independent dealers.
Iowa Code 322.3 states that a licensed car dealership cannot either directly or through an agent, salesperson, or employee, engage in Iowa, or represent or advertise that the person is engaged or intends to engage in Iowa, in the business of buying or selling at retail new or used motor vehicles, other than mobile homes more than eight feet in ...
Mortgage and refinance rates for Feb. 28, 2025: Average rates for 30-year, 15-year terms end week at 2-month lows
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A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers , rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales.
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