CarMax

[miden851]

After Carvana, CarMax is feeling the pinch too

https://www.reuters.com/business/au...after-quarterly-profit-plunges-86-2022-12-22/

Better days are coming for those who are patient wanting and waiting for car prices to cool off!

 

[CKN]

After Carvana, CarMax is feeling the pinch too

https://www.reuters.com/business/au...after-quarterly-profit-plunges-86-2022-12-22/

Better days are coming for those who are patient wanting and waiting for car prices to cool off!

I read where prices have gone down on average $3,000.00 but a year ago-they went up by $10,000.00 So yea-still a ways to go.

 

[miden851]

I read where prices have gone down on average $3,000.00 but a year ago-they went up by $10,000.00 So yea-still a ways to go.

buying a used one right now you would be like caching the falling knife

in the Summer '23, I'm expecting great deals are to be everywhere

 

[Pew]

Yet they built a brand new carmax 1 minute down the street from me.....

 

[CKN]

Yet they built a brand new carmax 1 minute down the street from me.....

Well...it's probably 5 years worth of planning to budget/pull permits and build a facility like that.

 

[joekingcorvette]

Yet they built a brand new carmax 1 minute down the street from me.....

Yes at the price of the stockholders.

 

[Pew]

Well...it's probably 5 years worth of planning to budget/pull permits and build a facility like that.

I think it was less than 2 years "officially." The lot they built it on was supposed to be used for a strip mall but ended up undeveloped. Nobody in the community heard about it until the middle of CV19.

EDIT: The surrounding communities were supposed to vote on what would have gone there too.

 

[Wrenchturner44]

Used and after market parts business will continue to be strong also.

https://hedgescompany.com/blog/2020/10/future-of-the-automotive-industry/

 

[2strokeNorthstar]

I expect big sell offs next year after or to avoid bankruptcy. Like when Hertz was selling all their cars to stay afloat during the early days of C Word

 

[RhondaHonda]

Waiting on the C8 Corvettes to come back to reality. It’s starting but I’m in no rush.

 

[SC Maintenance]

Manheim tracks the used care wholesale prices through the auctions. Wholesale dropped like a rock but has sort of levelled out last few months to about the price of September 2021. Not exactly low. I presume lots of dealers hoping they go back up next year.

Used prices will stay inflated until new inventory is more readily available.

https://publish.manheim.com/en/services/consulting/used-vehicle-value-index.html

 

[CKN]

Manheim tracks the used care wholesale prices through the auctions. Wholesale dropped like a rock but has sort of levelled out last few months to about the price of September 2021. Not exactly low. I presume lots of dealers hoping they go back up next year.

Used prices will stay inflated until new inventory is more readily available.

https://publish.manheim.com/en/services/consulting/used-vehicle-value-index.html

It's been well published wholesale prices have come down-but they haven't at the retail level-YET. Of course, if used inventory continues to stagnate on dealer's lots we could see a drop.

 

[andrew_j]

What goes up must come down…..

Gas , used car prices , you name it…..

 

[Jason2007]

What goes up must come down…..

Gas , used car prices , you name it…..

Erections......

 

[zzyzzx]

I expect big sell offs next year after or to avoid bankruptcy. Like when Hertz was selling all their cars to stay afloat during the early days of C Word

Carvana already doing that.

https://seekingalpha.com/article/4555007-carvana-how-profit-from-potential-bankruptcy

Carvana: How To Profit From A Potential Bankruptcy​

 

[JHZR2]

CarMax was always a ripoff. Designed to profit from people who are afraid to do math or negotiate. Perfect for today’s effeminate man and his woke wife.

 

[2strokeNorthstar]

CarMax was always a ripoff. Designed to profit from people who are afraid yo do math or negotiate. Perfect for today’s effeminate man and his woke wife.

Carfax is always good to see photo and how much is too much to pay

 

[haggler]

Glad I paid less than MSRP for my new camaro. They wanted around the same price for a 4-5 year old SS with 50k miles. Carmax will be ok because they tend to lowball much lower than carvana and other online sellers.

 

[4WD]

Carfax is always good to see photo and how much is too much to pay

CarFax can protect you or screw you - for me the later because a tiny parking lot fender bender becomes a big problem later - when you trade used and buy new - guess what …

 

[Hootbro]

Carmax is not all things to all people all the time. I have shopped, bought and sold with Carmax (pre Covid market) a few times. When I have shopped for used, Carmax was in the mix of all the other used dealerships when I shopped and compared.

The couple of times I have bought from Carmax was because there was very specific color and options of the used vehicles I was looking and only Carmax had it in their inventory. Not necessarily local inventory but had these vehicle shipped in from other regional Carmax dealers at no additional cost to me.

Another thing, having a high range 800+ credit scoring, I was able to finance with Carmax financial arm at such lower percentage rates that I could not even touch with other traditional used dealership lots even with my high credit score. So the delta above market I may have spent with Carmax shrank to the point most would not quibble over at any other retail used dealership.