CarMax, which operates more than 100 used car dealerships across the country, has announced that its second quarter saw a five percent rise in profits.

The company's overall revenue jumped 13 percent on the back of an 11 percent increase in used car sales. Overall, revenue rose to $2.34 billion dollars, which beat many analyst's expectations, according to Reuters. The company revealed that the positive results were a quarterly record.

While manufacturers like Toyota and Ford saw second quarter numbers slip a bit compared to the clunker-inflated sales of the same period in 2009, CarMax was able to post a profit, suggesting that more Americans may be considering used cars over new ones.

"We are especially pleased with the strength of our comparable store used unit sales where, despite our toughest comparison in recent quarters, we still delivered positive comps," CEO Tom Folliard told investors.

As more consumers look to buy used cars, drivers considering an upgrade may wish to do the same, so as not to miss out on some of the great deals being offered.