As of 2016, CarMax in Oklahoma City does not offer new cars for sale as the company specializes in the sale of only used cars. Customers can purchase a used vehicle from CarMax's location in Oklahoma City or any of its 140 locations throughout the United States. Additionally, CarMax customers can also search through the company's used car inventory by using the Search tool available on CarMax.com.
In addition to used car sales services, CarMax offers vehicle purchasing for any customers looking to sell their current vehicle. The company states that it carries an inventory of over 10,000 used vehicles in its various locations. All cars sold by CarMax are offered at a low price and cannot be haggled down. All vehicles in the CarMax inventory must also pass internal standards set by the company.
CarMax first began operations with an initial stock of approximately 500 used vehicles sold through its first store in Richmond, Virginia. The concept of CarMax was developed by two Circuit City executives between 1990 and 1991 which culminated in the company spending $50 million for the project. CarMax states that it has sold over 5 million used vehicles and it is listed as part of the Fortune 500.