Carmax – Buy Used Cars At Cheap Prices & Access Saved Cars

CarMax is the nation’s largest used car retailer. Circuit City executives, led by then-CEO Richard L. Sharp, 

The first to propose the CarMax concept was Ronald L. Moore of Richmond, Virginia, a consultant hired by Circuit City to evaluate potential business opportunities beyond the scope of their consumer electronics locations,

What is CarMax?

CarMax, Inc. is a used car retailer headquartered in the United States. CarMax Sales Operations and CarMax Auto Finance are its two business segments.

Circuit City Stores, Inc. was the corporate entity behind the formation of CarMax. The first CarMax retail location opened in Richmond, Virginia in September 1993. CarMax will have 225 locations by May 2021.

While CarMax stores primarily sell used vehicles, the company acquired its first new car franchise in 1996 with Chrysler Corporation.

It had added new vehicle franchises for Mitsubishi Motors, Toyota, and Nissan by 1999.

CarMax sold its last new vehicle dealership in Kenosha, Wisconsin, to the Rydell Company in late 2021.

CarMax Login

When you access your CarMax account you can access saved cars and searches, compare your favorites, and make car payment using your account.

Follow these simple steps:

• Go to CarMax website on your browser
• Enter your username and password
• And then click login
• Click on forgot password if you cannot remember your password.

Alternative you can login using the Carmax App

CarMax Auction Login

CarMax Auctions are straightforward, upfront, and dealer-friendly! Online registration is the quickest and most convenient option. If you prefer to register on paper.

You can request that the registration application be mailed to you by calling CarMax Auction Information Line at (888) 804-6604. Follow these easy steps to enter CarMax auction Login:

• Go to the Carmax Dealer Auction Login official website.
• On the site, look for the login option.
• Simply click on it.
• Enter your login and password and then click register.
• Create an account,
• add an infinite number of buyers, and connect.
• Your auction representative will contact you; bid and buy. 

CarMax App

The CarMax app allows you to securely manage your account. You can download from your App store or click on the CarMax Logo. After downloading create your account or login if you already have an account.

That simple! You can now enjoy CarMax services.

CarMax Payments

You must first create a MyCarMax account in order to manage your account and make payments online with the following steps:

• There will be an email verification step.
• Once you have a MyCarMax login, you will need your CarMax Auto Finance account number (which is listed on your welcome email or letter sent shortly after purchase).
• Log in to MyCarMax,
• then click “create new account” and follow the on-screen instructions.

CarMax may restrict your online account access and ability to make payments depending on your account status or payment history.

CarMax Loans

CarMax’s loan unique.  They offer car loans and their loan procedure, like the rest of their car-buying experience, is intended to be straightforward and stress-free.

They are available for evaluation by you and our sales staff simultaneously in our stores. You can select any available offer.

All CarMax loans are based on four factors:

• your application information,
• your personal credit history,
• the vehicle you wish to buy (its age, mileage, and price), and
• the size of your down payment.

CarMax Auto Finance, Ally Financial, Inc., Capital One Auto Finance®, and a variety of other industry-leading finance suppliers are among CarMax’s loan sources.

These connections contribute to a diverse collection of alternatives.

CarMax customer service

You can find your CarMax Auto Finance account number in the welcome email or letter you received, or you can call our Customer Service team at (800) 925-3612.

CarMax Locations—–CarMax near me

At CarMax.com, you can search for used automobiles, research vehicle models, and compare vehicles. CarMax is also available at the following locations:

• CarMax Grand Rapids, Kentwood
• CarMax Spokane, Washington
• CarMax Fayetteville, North Carolina
• CarMax Inglewood
• CarMax Tupelo MS (Mississippi)
• CarMax Cincinnati
• CarMax Gaithersburg, Maryland
• CarMax Pleasant Hill, California
• CarMax Houston, Tx (Texas)
• CarMax Cool Springs, Tennessee
• CarMax Charleston, South Carolina
• CarMax Milwaukee, Wisconsin
• CarMax Oak Lawn, Chicago
• CarMax Indianapolis, Indiana
• CarMax Dulles, Virginia
• CarMax Murfreesboro,Tennessee
• CarMax Jacksonville, North Carolina
• CarMax Wilmington, NC (North Carolina)
• CarMax Tallahassee, Florida
• CarMax Waukesha, Wisconsin
• CarMax South Austin, Texas
• CarMax Manchester NH (New Hampshire)
• CarMax North Attleboro, Massachusetts
• CarMax Orlando, Florida
• CarMax Roseville, California
• CarMax Raleigh, North California
• CarMax San Antonio, Texas
• CarMax Tampa, Florida
• CarMax Fresno, California
• CarMax San Diego, California

FAQS

Why is CarMax dropping?

Blame the Used-Car Shortage. CarMax stock is sliding after an analyst downgraded the car retailer as “new and used vehicle shortage [will] likely to extend into early 2024.16 Feb 2022

How do I pay CarMax?

For payment, we accept cash, credit (Visa, MasterCard, Discover, American Express), or check. A CarMax associate will assist with the payment arrangements.

Is CarMax owned by?

While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996.

CarMax.

Type                Public company

Revenue         US$18.95 billion (FY2021)

Net income      US$2.37 billion (FY2021)

Number of employees c. 27,000+ (2021)

Parent  Circuit City (1993–2002)

Is CarMax in financial trouble?

Based on the latest financial disclosure, CarMax Inc has a Probability Of Bankruptcy of 34.0%.

Should you invest in CarMax?

CarMax, Inc.

may be undervalued. Its Value Score of B indicates it would be a good pick for value investors. The financial health and growth prospects of KMX, demonstrate its potential to outperform the market. It currently has a Growth Score of C.

How low are CarMax offers?

According to their website, approximately 60% of all cars they take in are rejected for their retail lots.

As mentioned, Carmax’s appraisal model determines the amount of your 7-day offer letter and where your car will be sold.

Can a car loan be denied after approval?

Is CarMax better than Carvana?

Which Is Better: Carvana or CarMax? Carvana is a better option if you look for convenience and ease of use in your purchases and trades.

On the other hand, CarMax is ideal for people who want to test drive the car beforehand and who do not mind going to their nearest CarMax location to do it.

What makes CarMax different?

CarMax’s brand is synonymous with transparency. The retailer has a no-haggle policy for used-vehicle prices and trade-in offers.

CarMax gives free, no-obligation valuations and offers consumers a price that’s good for seven days. This is proof many consumers don’t care about the lowest price.

Who is CarMax competition?

CarMax competitors include Carvana, Penske Automotive Group and AutoNation. CarMax ranks 1st in CEO Score on Comparably vs its competitors.

How much debt does CarMax have?

CarMax long term debt for 2021 was $14.62B, a 2.17% decline from 2020. CarMax long term debt for 2020 was $14.944B, a 8.47% increase from 2019.

How successful is CarMax?

CarMax’s share of the nationwide age 0-10 year old used vehicle market increased to a record 4.0% in calendar year 2021, up approximately 13% from 3.5% in calendar year 2020.

Net revenues rose 48.8% to $7.7 billion compared with the prior year fourth quarter.

How many cars has CarMax sold?

For the fiscal year, retail used unit sales rose 22.9% to 924,338 vehicles, and comparable store used unit sales grew 21.9%.

Wholesale units increased 43.8% to a fourth quarter record of 149,095 vehicles. For the fiscal year, wholesale units rose 65.7% to a record 706,212 vehicles

Will CarMax stock go up?

Carmax Inc (NYSE:KMX)

The 13 analysts offering 12-month price forecasts for Carmax Inc have a median target of 107.00, with a high estimate of 146.00 and a low estimate of 73.00. The median estimate represents a +7.00% increase from the last price of 100.00

How do I invest in CarMax?

Invest in CarMax Inc on Stash

(CarMax) is a holding company. Stash allows you to purchase smaller pieces of investments, called fractional shares, rather than having to pay the full price for a whole share. Of CarMax Inc stock, you’ll need to sign up for Stash and open a personal portfolio.

Is CarMax publicly traded?

Where is CarMax common stock traded and what is the ticker symbol? CarMax, Inc. common stock is traded on the New York Stock Exchange, under the symbol KMX.

Does CarMax have hidden fees?

Does CarMax Have Hidden Fees? CarMax does not have any hidden fees like those you will find in a traditional new or used vehicle dealership. The only fee that you may have to pay is a Transfer Fee. This is the fee you will have to pay if you purchase a vehicle located outside of your local area

Does CarMax buy damaged cars?

Does CarMax Buy Cars With Problems? Yes — CarMax does buy damaged cars. In order to sell a vehicle to CarMax for cash, you typically have to bring the car in to get it appraised.

Which credit score does CarMax use?

It uses a Vantage score of 3.0, and to compile it, Transunion uses a lot much information like: what types of credit do an individual uses. they pay their bill on time or not.

Will Carvana match CarMax?

Even if you’ve shopped around and found a lower price elsewhere, online car sites like Vroom, Carvana and CarMax won’t match it.

Can you haggle with CarMax when selling?

CarMax advertises “no-haggle” pricing, and it does not offer price matching or negotiation on any car purchases, sales or trade-ins. Does CarMax financing require a down payment?

What is a no haggle price at CarMax?

At CarMax for instance, the entire company policy is based on no-haggle pricing, explains Business Insider. Their salespeople aren’t paid commissions on the price of the car, so there’s no pressure to sell at a higher price.

What does CarMax use for new car smell?

Original Factory Scent™ is a commercial grade odor counteractant that truly captures the factory new car smell. This product is used by individuals to remove the smell of smoke, pets, sweat, and other odors within the interior of vehicles. Original Factory Scent™ lasts for a couple months, just like a new car.

Can I sell my car back to CarMax?

If you want to redeem your offer and sell your car to CarMax, you have 7 days from the day the offer is made. You can either make an appointment or simply bring the car to us anytime we’re open.

We’ll verify your car’s condition, finalize your offer, and you’ll be able to leave with payment in hand.

Will CarMax buy a car with a blown engine?

The short answer to this question is yes, they do. CarMax buys cars in all types of shape. They buy cars with transmission trouble, engine trouble, blown head gaskets, bad clutches and more. CarMax will buy almost any vehicle.

Does CarMax buy cars with over 100 000 miles?

The answer, surprisingly, is yes. CarMax does buy vehicles with over 100,000 miles on them. Generally, they do not buy these vehicles for resale, they are usually auctioned off or sold for parts.

What is the oldest car that CarMax will buy?

In fact, they claim that they will buy any car, regardless of the vehicle’s age or mileage. CarMax offers are final and valid for seven days, so you won’t be able to negotiate your offer even if you think your car is worth more. You’ll need the following documents to sell your old car to Carmax: Title.

How long does CarMax appraisal take?

CarMax appraisals are thorough, but non-negotiable. You’ll need to drive your car to a CarMax location and they’ll complete the appraisal process while you wait. This takes around 30 minutes, after which you’ll get an offer good for 7 days at any CarMax location.

How long does it take for CarMax to give you a quote?

To make things easy, our instant online offer tool gives you a real offer in as little as two minutes. We just need to know your license plate, where the vehicle is registered, and your zip code. From there, we may ask to see your car in person to make the final offer.

Does CarMax take modified cars?

Registered. I have a buddy who works for CarMax, and they will never sell a modded car on their lot, period. They will buy them because they will buy anything, but even if it was a brand new Corvette, if it’s modified in any way, they will either put it back to stock, or wholesale it.