CARCHEX was founded in 2001 as a provider of pre-purchase vehicle inspections. In 2003, the company was purchased by Jason Goldsmith, a Baltimore-based entrepreneur and founder of TheLoanPage.com. Shortly afterward, CARCHEX had expanded its vehicle inspection service to all 50 states by partnering with a nationwide network of ASE-certified mechanics.
In 2004, CARCHEX added a second consumer assurance product to its business by offering vehicle service contracts (VSCs), also known as extended warranties. The company expanded the service in 2007 as a warranty remarketing program conducted on behalf of dealership groups such as MileOne .
In December 2007, CARCHEX launched a suite of web-based tools to create a step-by-step online car buying process for consumers. The interface provides tools for selecting a new or used vehicle, ordering an inspection, and evaluating options for financing, insurance and extended warranties. Many of these services are offered through partnerships with companies such as CarFax, AutoBytel and Insurance.com.