CarMax, Inc., through its subsidiaries, operates as a retailer of used vehicles in the United States. It operates in two segments, CarMax Sales Operations and CarMax Auto Finance. The company sells vehicles that do not meet its retail standards to licensed dealers through on-site wholesale auctions, as well as sells new vehicles under franchise agreements. It also provides customers financing alternatives through its finance operation, CarMax Auto Finance, as well as through its third-party financing providers. In addition, the company offers a range of other related products and services, including the sale of extended service plans, guaranteed asset protection, and accessories; the appraisal and purchase of vehicles directly from consumers; and vehicle repair services. As of September 24, 2013, it had 123 used car superstores in 61 markets. The company was founded in 1993 and is based in Richmond, Virginia.