Automotive

CarMax Hours

CarMax is the largest used-car seller in America. It’s a Fortune 500 company that was first established in 1993. It is currently headquartered in Richmond, Virginia. As of 2018, it had 195 locations in over 95 television media markets. It aims at offering high-quality vehicles to its customers. 

CarMax also sells new cars through franchises acquired from vehicle manufacturers. The first car franchise was acquired from Chrysler Corporation in 1996. Three others from Nissan, Toyota and Mitsubishi Motors were added in 1999. However, as of 2018, only two Toyota dealership stores remained open in Laurel, Maryland and Kenosha, Wisconsin.

What time does CarMax open?

Monday10:00 AM-09:00 PM
Tuesday10:00 AM-09:00 PM
Wednesday10:00 AM-09:00 PM
Thursday10:00 AM-09:00 PM
Friday10:00 AM-09:00 PM
Saturday09:00 AM-09:00 PM
Sunday12:00 PM-07:00 PM

Is CarMax open today? Is CarMax open tomorrow?

Is CarMax open on Sunday? Yes, it is open

CarMax closing time

What time does CarMax close? It closes at 09:00 PM

History

The idea behind CarMax was developed in 1991 by Circuit City executives. The concept was also known as “Project X” while in development. To those that were intimately involved, the idea was also referred to as “Honest Rick’s Used Cars.” The development happened under the leadership of Richard L. Sharp, the then CEO of Circuit City. 

The concept was first brought to light by a consultant by the name Ronald L. Moore who had been hired to evaluate potential business opportunities that existed beyond electronics. In 1993, William Austin Ligon and Richard L. Sharp founded CarMax. Before the first store was put up, an advertising agency called DeVito/Verdi was contracted as the creative resource. 

The agency ran TV advertisements and campaigns that supported the initial establishment of stores. It did this for a number of years. No transaction fees were charged at first. With time, the business model that was used was abandoned for the current one. 

The first CarMax stock was issued in 1997. CarMax had seven locations by then. The initial stock was still under Circuit City but in 2002, CarMax separated as a stock dividend for shareholders. 

Today, a CarMax store is characterized by a 59,000-sq.-ft. building with over 200-500 cars on sale. The inventory is turned over between 8 and 10 times every year. A typical CarMax store hosts about 40 sales associates. 

Each car sold is taken through a 125-point inspection process. The company also includes a 7-day money back guarantee, 90-day warranty, and three days allowance for buyers to change their financing for a fee. 

In the one-year period that ended on February 28, 2018, CarMax sold 712,512 used vehicles. In the same Fiscal year, the company was able to launch 15 used car superstores.

CarMax Holiday Hours – Open

DateHoliday
January 21Martin Luther King Jr. Day
February 14Valentine’s Day
February 18President’s Day
March 5Mardi Gras Fat Tuesday
March 17St. Patrick’s Day
April 19Good Friday
April 22Easter Monday
May 5Cinco de Mayo
May 27Memorial Day
July 04Independence Day
September 02Labor Day
June 16Father’s Day
May 12Mother’s Day
October 14Columbus Day
October 31Halloween
November 11Veterans Day
November 29Black Friday
December 24Christmas Eve
December 26Day after Christmas
January 01New Year’s Day
December 31New Year’s Eve

CarMax Holiday Hours – Closed

DateHoliday
April 21Easter Sunday
November 28Thanksgiving Day
December 25Christmas Day

CarMax near me

CarMax store locator

Business directions

CarMax specializes in the retail of used cars and wholesale auctioning of vehicles. It basically runs through two segments, CarMax Auto Finance (CAF) and CarMax Sales Operations. The latter deals with service operations and auto merchandising while the former offers vehicle financing to customers buying cars. 

Key Facts

Cars that are more than 6 years old are not sold at any of CarMax’s dealerships. The company primarily runs new car franchises and used-car lots across different locations. Prices are fixed to provide a relaxed atmosphere. All used car lots are based on a mass-merchandising model that was introduced by Circuit City Stores, Inc., its former parent company. 

Conclusion

CarMax prides itself in being a reliable used car retailer that only provides cars of the highest quality. The company never sells cars with a salvage history, frame damage, or flood damage. Anything that doesn’t meet the set standards is replaced or repaired. You’re therefore bound to get a high quality car when you shop at CarMax. 

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