Posted the 2008 Ford Mustang Bullitt selling for $15,998 – way underpriced – with only 23,000 miles last month here. It was in Louisville, Kentucky. It’s on the left below. Today an almost identical 2009 Ford Mustang Bullitt showed up in Greensboro, North Carolina for $22,998 – 24,000 miles. I knew the first one was a bargain! It’s on the right below. I so need a reader to partner with me to flip unicorns when CarMax gets the prices wrong. Second time I’ve seen a Bullitt for thousands under market price, and there have been others.  Sigh. Find this Bullitt here – not as good a deal but still a nice retro Mustang. 
The $577 Million Car Loan and Other Fascinating CarMax “Analytics”
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””