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The company began as a side business of Circuit City, opening its first location in September 1993 in Richmond, Virginia. As of January 2025, CarMax operates 253 locations. [3] While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996. [4]
The Virginia Department of Motor Vehicles (Virginia DMV) serves a customer base of approximately 423,000 ID card holders and 6.2 million licensed drivers with over 7.8 million registered vehicles in Virginia. Virginia DMV has more daily face-to-face contact with Virginia's citizens than any other state agency.
In 1956, the United States, Canada, and Mexico came to an agreement with the American Association of Motor Vehicle Administrators, the Automobile Manufacturers Association and the National Safety Council that standardized the size for license plates for vehicles (except those for motorcycles) at 6 inches (15 cm) in height by 12 inches (30 cm) in width, with standardized mounting holes. [4]
The average cost of a minimum coverage car insurance policy in Virginia is $494 per year. By July 1, 2024, all drivers operating their vehicles on public roads in Virginia will be required to ...
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In 2008, TitleMax expanded into Virginia. In April 2009, TitleMax Holdings, LLC, filed for chapter 11 bankruptcy . [ 5 ] According to TitleMax’s lawyer at the time, the cause of the default was attributed to “the maturity of an estimated $165 million loan from Merrill Lynch & Co.” [ 5 ] In 2008, Bank of America acquired Merrill Lynch . [ 6 ]