BENTONVILLE, Ark., and CARMEL, Ind. -

Two of the buy-here, pay-here industry’s largest dealership chains — America’s Car-Mart and J.D. Byrider — each released company updates on Tuesday as one extended the contracts of two top executives while the other expanded its footprint into a new state.

J.D. Byrider added its fifth new dealership so far this year as new franchisee Jay Brichke opened his store in Old Bridge, N.J. The dealership at 1225 Route 9 North is the first J.D. Byrider location in New Jersey.

The company now has 168 locations in 34 states.

The Old Bridge dealership consisting of 11,000 square feet with nine service bays will offer used vehicles with a 24–month/24,000-mile service agreement. The dealership will also create approximately 25 new jobs.

“I look forward to bringing J.D. Byrider to Old Bridge and to the great state of New Jersey,” Brichke said. “My staff and I are dedicated to helping customers with less-than-perfect credit find a dependable vehicle, complete with affordable financing and quality service.”

Meanwhile, Car-Mart disclosed in filings submitted to the Securities and Exchange Commission that the company entered into new employment agreements with its chief executive officer, William “Hank” Henderson, and chief financial officer, Jeffrey Williams effective as of May 1.

The company indicated the agreements run through April 30, 2020.

Car-Mart added each of the new employment agreements contains a wide array of elements, including:

— An agreement not to compete, which covers the term of employment and one year thereafter

— A covenant against the solicitation of employees and customers, which covers the term of employment and one year thereafter

— A provision against the use and disclosure of trade secrets, which covers the term of employment and an indefinite period thereafter

— A provision against the use and disclosure of confidential information, which covers the term of employment and two years thereafter