Getting more and more updates and alerts from CarMax that a number of the 200 unicorns I have saved in my profile have price drops. Today a beautiful 2008 Mercedes S63 dropped $4,000 (and vanished from the web before I could capture photos). A Jaguar XK was slashed by $2,000 and also disappeared. The Z06 above dropped $1,000. Here’s more.
So here’s my theory. I blogged in the winter of 2017 that CarMax inventories increased by 33,000 cars – about $577 million in value – from summer to fall. In the fall of 2018 I blogged again that inventory increased by $300 million – a plus up of 15,000 cars. Late February/early March of 2018 and now 2019 the alerts start coming about price drops. Inventories are also dropping – CarMax had over 60,000 cars last fall, and today about 47,000. It ain’t rocket science. I can’t explain the annual increase every fall, but the CarMax fiscal year ends in April and I have to believe inventories are being slashed to boost profits and reduce liabilities (CarMax carries about a billion dollars in debt on their financials). CarMax never has a sale or haggles with prices, but I’m starting to think there’s a seasonal pattern that smarter buyers than I can watch and exploit! Bought my unicorn last week….without a price reduction! Stay tuned.