CarMax Launches New Signature Experience – Industry-Leading “Love Your Car Guarantee”

Nation’s largest used-car retailer now offers a 30-Day Money Back Guarantee and 24-Hour Test Drives

Richmond, Virginia, Jan. 12, 2021 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today announced the launch of the Love Your Car Guarantee, the only consumer offering of its kind in the automotive retail industry. This new signature experience gives customers the ability to take 24-Hour Test Drives before committing to purchase – providing increased peace of mind and buyer confidence as customers experience a day in their life with a new ride. In addition, CarMax has extended its 7-Day Money Back Guarantee to a 30-Day Money Back Guarantee. Now, customers have 30 days to decide if a vehicle is the right fit, allowing them to return the car for any reason for a full refund up to 1,500 miles. This offering is unmatched in the automotive industry.

 

“We never stop innovating on behalf of our customers,” said Bill Nash, president and CEO of CarMax. “The Love Your Car Guarantee sets a new standard in the industry by providing customers an unrivaled opportunity to truly fall in love with their car. We know buying a car is a big decision that has a significant impact on your family, and customers are telling us they are loving the Guarantee already.”

 

According to CarMax consumer research, 96% of used car shoppers said they would likely take advantage of test driving a vehicle for 24 hours if they had the option. Sixty-three percent of used car shoppers said they would need more than 7 days to feel confident they were making the right purchase.

 

Known for disrupting the industry with the first used vehicle “no-haggle” buying and selling experience, the Love Your Car Guarantee is CarMax’s latest unprecedented consumer offering that will continue to set the trend of the future of automotive retail. CarMax also offers online car buying nationwide, where customers can receive delivery through contactless curbside pickup, available nationwide, and home delivery, available to most customers. Customers can also opt to complete the car buying experience in-person at one of CarMax’s 220 stores among 41 states nationwide. The company significantly invested in technology and digital initiatives to build out this omni-channel experience that empowers customers to buy a car on their terms – online, in-store, and a seamless integration of both.