CarMax

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CarMax is the United States' largest used-car retailer, selling more than 300,000 cars a year. CarMax has 80 stores in the U.S. mostly in the Southeast, Midwest and Southwest. Seven of them also sell and service new cars.

CarMax created the used car superstore concept in 1991 and spent a long time fighting off competition from copycat concepts like AutoNation.

CarMax has almost every brand of car and car type, so if one is shopping on their lot, he or she can test drive different cars without going to different dealers.

Another feature is 'a la carte' no-haggle car shopping through online financing and free appraisal offers that are not contingent on the customer purchasing a car. However, CarMax sales employees do receive a fixed amount commission on their sales, except in California, where salespeople receive variable commissions.

CarMax, a Fortune 500 company, was also named one of Fortune's "100 Best Companies to Work For" in 2005, 2006 and 2007.

CarMax's Web site, www.carmax.com, features more than 25,000 vehicles. Customers can transfer used cars between stores for a nominal fee. Local transfers are free.

CarMax's first store opened 1993 in Richmond, Virginia. In October, 2002, CarMax became a fully independent company.

The company is now a public company and is traded under the stock symbol KMX on the NYSE.