CarMax operates as a retailer of used vehicles. The company operates in two segments: CarMax Sales Operations and CarMax Auto Finance. It offers customers a range of makes and models of used vehicles, including domestic and imported vehicles, sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions, and provides extended protection plans to customers at the time of sale. The company also offers reconditioning and vehicle repair services, and provides financing alternatives for retail customers across a range of credit spectrum. In addition, it sells new vehicles under franchise agreements.