We had an inch of snow so for fun went looking for some trucks. This one’s only 2WD but has the 6.0 liter 395hp motor and a cheap price. With 108k miles (violates my unicorn policy) you can still get five years, and another 42,000 miles of MaxCare coverage – not bad for a 12 year old truck? The link is here. Continue reading “Badass Blazer….But High-Mileage. 2006 TrailBlazer SS for $15,998 in Newark”
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 have a couple of dozen (about 50 really) CarMax unicorns tagged but wanted to open with a sampling of what’s on the lot today. Again, my bar is $35,000 or less, 60,000 miles or less, an enthusiast car, and relatively exclusive. Your standards may vary. So here they are in no particular order:
2007 Mercedes CL550 – The “big coupe” from Mercedes – the two door version of the S-class, originally a $100,000 car. You can read the review from the link below. It’s the third generation CL and has everything a top of the line Mercedes should have – in 2007. What I like? It’s big, exclusive, comfortable, well-appointed with Distronic auto cruise control, cheap, low miles (driven only 3,400 miles yearly), and you can get a warranty for the next five years. I like that with only 34,000 miles CarMax will likely give an affordable warranty to 75,000 miles – but I would take all they offer that I could afford. What I don’t like? No bluetooth. Ad says rear view camera but I doubt it – CarMax photo spread almost always shows a shot of the rear view camera in action if it has one. Rear view photo of the car doesn’t show one. I don’t like less than 400hp but 382 ain’t bad. I also don’t like that this car is not transferable and is 3,000 miles away from me. I would give it serious consideration. I’ll bet it’s gone in days, although there’s also a 2009 CL550 on the lot at $32,998 that hasn’t moved in a week. We shall see!
2011 BMW M3 – The “benchmark” sport coupe per the review below, and the best everyday sports car I can imagine. I’ve owned a 3-series. Everything is in the right place. M3’s are tough to find in my unicorn category. Once a $70,000 car, most are close to the $35,000 unicorn limit, have 70-80,000 miles on them and are 8-10 years old. I have a hard time paying that much for that old with that mileage. So I like the balance of price and mileage here. I like the SMG transmission and 400hp. I’m not a big fan of the hard top convertible only because I own a convertible. Otherwise it’s the best of both worlds. Don’t know why, but the hard top convertibles sell at a discount over the hard top coupes. If you like these then you’re in luck! A little short on amenities but you can’t have a bad day in an M3.