CarMax : Opens First Store in Rio Grande Valley

Company announces contributions to local nonprofits

RICHMOND, Virginia (May 30, 2019) - CarMax, Inc. (NYSE: KMX), the nation's largest retailer of used cars, has opened a new store in Pharr, TX; the company's first in the Rio Grande Valley region and 22^nd in the state. CarMax Pharr is located at 1300 East I-2 and has the capacity to stock approximately 300 used vehicles of nearly every make and model. CarMax customers can also request transfers of almost any vehicle to this store from other CarMax locations throughout the country.

In celebration of the Pharr store opening, The CarMax Foundation is awarding a $10,000 grant to the Food Bank of the Rio Grande Valley. The donation for this organization came at the recommendation of the Pharr CarMax associates.

'Pharr has been incredibly welcoming, and we are thrilled to be a community partner,' said Dave Marrero, location general manager of the Pharr CarMax. 'Our team is excited to be opening our first CarMax store in the Rio Grande Valley and introduce customers to an exceptional used car buying experience.'

CarMax disrupted the industry more than 25 years ago by offering a high integrity car-buying experience customers want that's transparent and stress-free. Since that time, CarMax has continued to revolutionize the experience through customer-focused technology innovations. Approximately 90% of CarMax purchasers start on CarMax.com or the CarMax mobile app. Customers can browse CarMax's nationwide inventory of approximately 50,000 vehicles, hold a vehicle for a test drive, schedule an appraisal, and even get pre-qualified for financing before visiting the store. CarMax stands behind their vehicles with 7-Day Money-Back Guarantee and a limited warranty that covers a vehicle's major systems for 90 days or 4,000 miles, whichever comes first.

About CarMax

CarMax, the nation's largest retailer of used cars, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. CarMax continues to innovate and is currently rolling out an omni-channel experience, providing customers the option to complete transactions entirely from home, in store, or in a seamless combination of both. CarMax has more than 200 stores nationwide, and during the latest fiscal year sold nearly 750,000 used cars and 450,000 wholesale vehicles at its in-store auctions. With more than 25,000 associates, CarMax is proud to have been recognized for 15 consecutive years as one of the Fortune 100 Best Companies to Work For®. For more information, visit www.carmax.com.

Media Contact

CarMax Public Relations, [phone] ● @CarMax ● facebook.com/CarMax