No-haggle CarMax car store coming to East Brainerd

No-haggle CarMax car store coming to East Brainerd

October 9th, 2011 by Ellis Smith in Business Around the Region

Construction continues on the CarMax auto dealership Friday off Shallowford Road.

Photo by Dan Henry/Times Free Press.

• Name: CarMax

• Location: The site formerly held the Overnite truck terminal at Shallowford Road and Interstate 75, and is close to Hamilton Place mall. As a no-haggle car retailer, CarMax prefers to locate its stores near other retailers, rather than other auto dealers. The site is also a growing area, with good visibility from the road, officials said.

• Status: The store will open before March 1.

• Price: $15 million to $25 million for the building. The company bought the site in 2009 for $5.5 million.

• Size: 36,000 square feet on a nine-acre site

• Number of cars: Between 250 and 400

• Employees: 50 to 75

• CarMax corporate: CarMax has more than 100 stores across the U.S., and the company has sold more than 2 million cars since it was founded in Richmond, Va., in 1993 by Circuit City executives. The company opened its 100th store in 2009, and was named one of the "100 best companies to work for" by Fortune magazine for the seventh consecutive year in 2011. CarMax officially split from Circuit City in 2002.

• What makes CarMax different? The company doesn't haggle on price for its used cars, which are checked for mechanical problems and reconditioned for an average of 12 hours, the company says. A car's price is calculated by adding a processing fee to a national base price for each car. Cars are offered with a five-day money-back guarantee.