CarMax Offers Information on How Your Car's Value is Determined

RICHMOND, Va., June 10, 2008; If you are considering trading in your current vehicle, either for something newer or more fuel efficient, CarMax, Inc. the nation's largest retailer of used cars, has information on how your car's value is determined. CarMax's nationwide team of car buyers has tips on how to get the most for your car when it comes time to sell it or trade it in.

"When evaluating a car's value, there are four major factors taken into account -- mileage, current market data, the condition of the vehicle and how well it has been maintained," said David Claeys, purchasing manager, Richmond, Virginia. "Current marketplace conditions, including the effects of seasonal shifts in demand or changes in the economy, can impact the trade-in value of a vehicle. While you can't alter current economic conditions, a good rule of thumb for consumers wanting to maximize the value of their vehicle is to simply take good care of it."

CarMax's car buying teams offer the following 10 tips to get the most out of your vehicle's value:

    1.  Stick to the vehicle's regular maintenance schedule -- and keep all
        records/documentation of maintenance performed.
    2.  Target a reasonable amount of mileage per year on your car. Where
        possible, avoid driving more than 10,000 to 12,000 miles per year.
    3.  Keep the interior and exterior clean. Don't neglect the carpet, floor
        mats or headliner.
    4.  Don't smoke in your car. Smoking narrows the resale market for a
        vehicle since it is difficult to remove the smoke smell.
    5.  Avoid eating in your car. Food and drink may damage the interior by
        leaving stains or unwanted odors.
    6.  Repair scratches and dents in a timely manner -- if left alone, they
        may lead to rust or other expensive damage.
    7.  Ensure all major mechanical systems are in good working order. Make
        any needed major repairs before attempting to sell your vehicle.
    8.  Avoid customizing your car. Adding after-market accessories can often
        lower the market value for your car by narrowing its appeal.
    9.  Don't paint or detail your car with wild colors. Non-standard colors
        may lower the vehicle's value.
    10. Drive carefully to avoid accidents. Serious accidents that compromise
        the structural integrity of your car will significantly reduce its
        market value.

"An appraisal is a great way for a car owner to get a sense of the current value of their vehicle," Claeys said. "Before selling your car, you should visit a retailer like CarMax that will provide a free appraisal and make an offer for the vehicle based on its wholesale market value without requiring a purchase."

CarMax will buy any car, whether or the not the seller purchases a CarMax vehicle. Since opening its first store in 1993, CarMax's nationwide 900 car buying team members have appraised more than 9 million cars.

The CarMax website can be used to research information on vehicles of various makes and models. Online shoppers can search the company's inventory of more than 25,000 new and used cars. The website showcases each vehicle with multiple photos, a no-haggle price, and information on features, options, fuel economy and customer reviews. Visits to carmax.com continue to increase and approximately 70 percent of in-store customers visited the website before coming to the store.

About CarMax

CarMax, a FORTUNE 500 company and one of the FORTUNE 2008 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 96 used car superstores in 45 markets. The CarMax consumer offer provides our customers the opportunity to shop for vehicles the way they shop for items at other national retailers, and it is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer-friendly service. During the twelve months ended February 29, 2008, the company retailed 377,244 used vehicles and sold 222,406 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.