CarMax operates two business segments: CarMax Sales Operations and CarMax Auto Finance. The corporate entity behind the formation of CarMax was Circuit City Stores, Inc.
CarMax’s business model is based on the “no-haggle” pricing system. This means that all of the cars on the lot are priced at a fixed price, and there is no negotiation involved. This system has been very successful for CarMax, as it has helped to simplify the car buying process and make it more transparent for customers.
In addition to its “no-haggle” pricing system, CarMax also offers a number of other services to its customers, including: