Truly Rare Unicorns (Old and New, Cheap or Not)

Small 73000 — **The total cars on the lot around noon, November 18th 2017. The numbers fluctuated by hundreds between the beginning and completion of this blog, rendering all my calculations estimates.**

The CarMax nationwide inventory jumped from just over 40,000 cars in the summer of 2017 to over 73,000 today. That’s the highest it’s been since I started tracking CarMax unicorns a year ago and it got me pondering on all things cosmic CarMax. For example, that 33,000 plus-up in stock equals a staggering $577 million* investment in cars in just a few months. I’m thinking like you and me, CarMax didn’t pay cash and owed somebody a helluva lot of money. You think they get dealer financing? I’m thinking CarMax needs to move some cars and hoping there are more unicorns and lower prices!

*The average CarMax vehicle sells for $19,677 with a gross profit of $2,178, indicating a rough guess each car costing CarMax $17,489. See “CarMax Reports Second Quarter Results, September 22, 2017″.

So I decided to do my own homemade “analytics” and dive deeper on what makes up an inventory of 73,000 cars. CarMax knows what they’re doing, and I suspect their inventory largely reflects what America wants in a car. So here’s what I learned. Continue reading “The $577 Million Car Loan and Other Fascinating CarMax “Analytics””

I couldn’t resist. The most expensive car in the CarMax inventory is a beautiful 2017 AMG GT with only 2,000 miles on it. I once asked how recently purchased brand new cars show up on CarMax lots and the sales rep told me they are likely reposessions. Bummer for them. This Los Angeles car surfaced in July 2017 for $114,998, only to be reduced by a thousand a week later. I saved it looking forward to adding it to the blog at some point when it vanished. I was sad. But last night it popped up again deeply discounted – to $109,998. A four per cent drop in a month. It only needs to drop another $75,000 to be in unicorn territory and I’ll pounce! Reminds me of the 2013 CLS550 that showed up for $13,599. I tried like hell to get the dealership to honor it but they wouldn’t. Sigh. SEPTEMBER 5, 2017 – BREAKING NEWS – PRICE REDUCED AGAIN TO $108,998! September 12, 2017 – PRICE STILL PLUMMETING! DOWN TO $107,998! September 18, 2017 – Reduced to $104,998. AT WHAT PRICE WILL THIS CAR SELL? Reduced $10,000 from first listing. Getting closer to unicorn territory. September 25, 2017 Update – The car is off the web. Has it sold? Will it resurface somewhere else? I’ll let you know.

2017 AMG GT $114,998 2k

AMG GT 104

Category: Truly Rare Unicorns (Old and New, Cheap or Not)

The $577 Million Car Loan and Other Fascinating CarMax “Analytics”

Mercedes Unicorns – Part IX: The So Not a Unicorn AMG GT (Reduced Again!) – Poll…at What Price Will it Sell?