National used car retailer CarMax will open its first location in Denton County along Interstate 35E in September.
The company is investing more than $10 million to build the Denton location, which will feature about 150 used cars, said Dietta Slayton, a spokeswoman for the company. In addition to the inventory available on site, customers can also request cars to be transferred to the Denton store, she said.
“CarMax maximizes customer choice by offering a large selection and by making our nationwide inventory of nearly 55,000 vehicles available for viewing on our website, www.carmax.com, as well as our mobile app,” Slayton said in a statement. “Upon request by a customer, CarMax will also transfer most used cars among the company’s over 200 stores which allows customers greater access to a much larger selection of inventory.”
The shop, slated to open Sept. 5, is situated between large dealerships Toyota of Denton and Classic of Denton.
Robert Goodwin, general manager of Huffines Kia Subaru, said he thinks the new store will drive more customers to Denton County and hopefully help build car sales for other local dealerships.
“I don’t think that when they come into a market like this that it has any negative impact because they do drive a lot of traffic,” he said. “I think there’s more than enough to go around.”
While CarMax has a national network, Goodwin said dealerships like his can offer manufacturer guarantees and other things that CarMax can’t.
Used car sales are expected to hit an all-time high in 2019, according to the Used Vehicle Outlook 2019 report from Edmunds.
“Used vehicles have finally emerged as a compelling alternative to new, and market factors in 2019 will only increase their appeal,” the report said. “Growing new-vehicle transaction prices and an oversupply of used vehicles have expanded the savings advantage in pre-owned vehicles.”
CarMax, which exclusively sells used vehicles, sold nearly 750,000 last year.