CarMax Rolls into New England with New Retail Concept

October 15, 2019

CarMax Rolls into New England with New Retail Concept

Now offering home delivery and expedited pick-up

RICHMOND, VA (October 15, 2019) - CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today announces its new personalized car buying experience is now available to customers in New England. Customers in Massachusetts and Connecticut can now choose to complete the entire car-buying experience from home and have the car delivered, including the ability to test drive, prior to purchase.

The new offering also gives customers throughout New England the flexibility to do more of the car buying process from home, and then head to their local CarMax for expedited pick up of the vehicle.

In a world where consumers can buy almost anything from anywhere, CarMax continues to make the car buying journey easy and painless with this new offering. The company plans to scale this new capability nationwide and anticipates having it available to the majority of CarMax customers by February 2020.

“This is the future of car buying,” said Bill Nash, CarMax president and CEO. “We’re delivering on an unmet customer need for a car buying experience that is flexible, convenient, and completely tailored to each customer. This experience has been well-received by our customers who are excited about buying a car on their own terms.

The new personalized experience is now available in the following areas in New England:

  • Boston, MA; Hartford, CT; Manchester, NH*; Portland, ME*, and Providence, RI* *Home delivery not currently available

CarMax locations in New England are the latest to launch home delivery and expedited pick-up capabilities – joining Alabama, Florida, Georgia, Iowa, Louisiana, Nebraska, New York, North Carolina, and Oklahoma, as well as select cities in Mississippi and Virginia.

While specific offerings can vary by city, CarMax customers in these areas can now do some or all of the following:

  • Complete the entire car buying process from home, including financing, trade-in and paperwork, without visiting the store and have their vehicle delivered directly to their home or workplace, with the ability to test drive before purchasing.
  • A combination of online and in-store shopping,, including expedited pickup at the store for customers who choose to complete some of the car-buying process from home.
  • Get help from CarMax associates in-person and via phone, text or email, at any point in the purchase and financing process.

CarMax disrupted the industry more than 25 years ago by offering a high integrity car-buying experience customers want that’s transparent and stress-free. Since that time, CarMax has continued to revolutionize the experience through customer-focused technology innovations. CarMax has a nationwide inventory of approximately 50,000 vehicles and CarMax stands behind their vehicles with a 7-Day Money-Back Guarantee and a limited warranty that covers a vehicle’s major systems for 90 days or 4,000 miles, whichever comes first.

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About CarMax

CarMax, the nation’s largest retailer of used cars, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. CarMax continues to innovate and is currently rolling out an omni-channel experience, providing customers the option to complete transactions entirely from home, in store, or a seamless combination of both. CarMax has more than 200 stores nationwide, and during the latest fiscal year sold nearly 750,000 used cars and 450,000 wholesale vehicles at its in-store auctions. With more than 25,000 associates, CarMax is proud to have been recognized for 15 consecutive years as one of the Fortune 100 Best Companies to Work For®. For more information, visit www.carmax.com.

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Forward-Looking Statements

We caution readers that the statements contained in this release about our future business plans, operations, opportunities or prospects are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by the use of words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “should,” “will” and other similar expressions, whether in the negative or affirmative. Such forward-looking statements are based upon management’s current knowledge and assumptions about future events and involve risks and uncertainties that could cause actual results to differ materially from anticipated results. Factors that could cause actual results and outcomes to differ materially from those contained in the forward-looking statements include, among others, whether and when we are able to execute on our business plans. For more details on factors that could affect expectations or outcomes, see our Annual Report on Form 10-K for the fiscal year ended February 28, 2019, and our quarterly or current reports as filed with or furnished to the U.S. Securities and Exchange Commission. Our filings are publicly available on our investor information home page at investors.carmax.com. Requests for information may also be made to the Investor Relations Department by email to investor_relations@carmax.com or by calling 1-804-747-0422 ext. 7865. We undertake no obligation to update or revise any forward-looking statements after the date they are made, whether as a result of new information, future events or otherwise.

Contacts:

Media:
pr@carmax.com, (855) 887-2915

Investors:
investor_relations@carmax.com, (804) 747-0422 ext. 7865

Contact Information

Investor Relations Department
(804) 747-0422 x 7865
investor_relations@carmax.com

Stacy Frole
Vice President, Investor Relations

Celeste Gunter
Manager, Investor Relations

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