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Letter to the Editor
Thursday July 7
CarMax Doubles Vehicle Transfer Sales in Two Years
CarMax, Inc., the nation's largest retailer of used cars, has doubled the number of used vehicle transfer sales over the past two years. During CarMax's most recent fiscal year, more than 40,000 used vehicles the company retailed were transferred at customer request to a CarMax superstore most convenient for the customer. Just two years earlier, more than 20,000 used vehicles retailed were transferred at customer request."We are the only auto retailer in the country offering a comprehensive used vehicle transfer service that provides our customers easy access to more than 20,000 cars from all of our locations," said Austin Ligon, president and CEO of CarMax. "The growing popularity of this service demonstrates that consumers want to find the vehicle of their choice without wasting a lot of time driving all over town. Our customers are comfortable with using our transfer service, because we are a trusted auto retailer that guarantees vehicle quality, and we offer a vast selection of vehicles that can be transferred to any CarMax store in the country with no obligation to buy."
"CarMax began offering the used car transfer service about five years ago to dramatically expand the vehicle selection available to our customers," Ligon continued. "Our transfer service is a seamless transaction for our customers. We take care of all of the logistics behind transporting the car from one store to another, and we stand behind the quality of the car we deliver."
Finding the car you want and transferring it to the CarMax store nearest you takes only three steps:
- Log onto carmax.com, select the car you want from an inventory of more than 20,000 vehicles, and then contact the CarMax store nearest you by phone or e-mail to request a vehicle transfer.
- The car you select is inspected to ensure it meets your specifications, and then a transfer fee is collected if applicable.
- The vehicle is shipped to the CarMax nearest you, and you test drive the vehicle before making a buying decision.
Transfers are free between stores within the same market. Transfers between markets cost the customer a fee, which is based on the actual cost of shipping the vehicle. Currently, the transfer fees range from $150 to $850 depending on the transfer distance. All transfer fees are clearly marked on the carmax.com website.
More than 20 percent of CarMax used car retail sales are initiated through carmax.com.
CarMax, a FORTUNE 500 company and one of the FORTUNE 2005 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 62 used car superstores in 28 markets. CarMax also operates seven new car franchises, all of which are integrated or co-located with its used car superstores. During the twelve month period ended May 31, 2005, the company sold 264,958 used cars, which is 93 percent of the total 285,354 vehicles the company retailed during that period.
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