Tulsa World: CarMax opens Tulsa superstore today

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CarMax opens Tulsa superstore today

By D.R. STEWART World Staff Writer
Published: 7/10/2008 2:10 AM
Last Modified: 7/10/2008 4:22 AM

CarMax Inc., the nation's largest used-car retailer, introduces its unique car-buying experience to Tulsa on Thursday with the grand opening of its superstore at 9131 S. Memorial Drive.

One of 14 new superstores — in one of nine new markets — planned by CarMax this year, the 35,985-square-foot Tulsa showroom and 12-acre lot will display up to 500 used vehicles of nearly every make and model, said Tulsa CarMax General Manager Tori Miller.

"We also have over 25,000 vehicles on our Web site at www.carmax.com, Miller said. "If you see a car you like, we can transfer it in. Most cars are one to six years old, varying from very low mileage — below 10,000 miles — up to 60,000 miles. We do carry cars up to 100,000 miles."

Richmond, Va.-based CarMax offers ample space for a variety of vehicles but no room for bargaining between buyer and seller: The price you see is the price you get, Miller said.

"Our car-buying experience is different than most car dealers," Miller said. "The price you see on the sticker is the price you pay. It's our unique no-haggle, no-hassle way of buying cars. It's the same as paying the price in a store for a washer or dryer. It's just a more pleasant way to buy a car."

In return for the firm price, CarMax runs its vehicles through a 125-point certified inspection check to ensure their quality. The company also offers a five-day, money-back guarantee, a 30-day limited warranty and extended service plans.

Quality and economic vehicles are a focus at CarMax as gasoline prices soar, but whether buyers select a Kia or a Cadillac, the company's sales people make the same commission, removing the incentive to pressure customers to upgrade to a more expensive model.

"Our associates are focused on finding you the car you want and need," Miller said. "We offer financing to fit nearly any budget. Our sales consultants do not receive commission on the financing process, and we do not hand off our customers to a commission-paid finance manager or sales manager.

"The sales consultant helps the customer through the entire sales process. Customers see the car loan offer directly on the computer screen from the finance company, and where multiple offers exist, they may choose the offer that best suits their needs. All of the costs to the customer are transparent."

CarMax is in the process of hiring 85 people to operate the Tulsa superstore, which will represent a $15 million to $20 million investment for the company.

In addition to Tulsa, CarMax plans to open superstores in eight new markets this year: Colorado Springs, Colo.; Phoenix; Cincinnati and Dayton, Ohio; Philadelphia; Charleston, S.C.; Augusta, Ga.; and Huntsville, Ala.

CarMax, with 2007 revenue of $8.19 billion, is growing its store base about 15 percent a year. It operates 90 superstores in 41 markets, competing against more than 43,000 independent used-car dealers, according to industry statistics.

Shares of CarMax closed Wednesday at $13.40, down 21 cents, or 1.5 percent.

D.R. Stewart 581-8451
don.stewart@tulsaworld.com By D.R. STEWART World Staff Writer

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	Report Comment Dobrescu, (7/10/2008 6:56:27 AM) Maybe this will give new meaning to the term, "would you buy a used car from this guy". If they make the buying experience pleasant without high pressure they will sell cars. Good luck.
	Report Comment laokstate, Dallas (7/10/2008 9:17:42 AM) Make sure to have your own financing in place before you go to purchase your car. I have very good credit and the Dallas store tried to sell me on rates of 10% or more. Even though they say they search for financing through multiple companies the only "offers" they could get for me were through CarMax Financial. I went to Capital One and E-Trade before I went back to buy the car and got rates around 6%. The price of the car was great and I even had my mechanic inspect it immediately after purchase and he said that I would have a good car for a long time with this one. Just do not get duped into their financing.
	Report Comment Bill Hader, (7/11/2008 5:25:27 PM) In my opinion, Any company that would promise wages to new employees and not actually pony up has trust issues. Also to hire employees and never actually use them and then terminate them. Companies like that are shady

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