Please be open to feedback and constructive criticism from others, and consider their suggestions and advice when making decisions or forming opinions.
- Manlobbi
Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤
No. of Recommendations: 4
Ouch : )
Carmax at $69.40, 17.4% lower than a couple of days ago.
Down 21% from the 52 week high which was less than two weeks ago.
Rather unfortunate for the April $75 puts I wrote a while ago which expire next week and were out of the money till this morning : )
Still profitable, oddly enough. So far.
Jim
No. of Recommendations: 1
FWIW I added a little @ 69 and change this morning. Not ready to give up on KMX and didnt think I'd have the opportunity to see sub 70 again. I guess I was wrong about that!
Ouch indeed
No. of Recommendations: 5
Anecdotal but I visited one last week with my daughter as she needed a car.
I like starting my used car search at Carmax because you can see many different makes and models' on one lot. I was not impressed with the prices. Maybe that is just the market but we ended up buying a new car because there was only a $500 difference in price between that and a 3 year old model (same exact trim ) with 11k miles.
No. of Recommendations: 2
Anecdotal but I visited one last week with my daughter as she needed a car.
I like starting my used car search at Carmax because you can see many different makes and models' on one lot. I was not impressed with the prices. Maybe that is just the market but we ended up buying a new car because there was only a $500 difference in price between that and a 3 year old model (same exact trim ) with 11k miles.
Same experience. Last summer we test drove a few cars at Carmax, then daughter bought a new one for not much more. I also bought two used cars for my boys in the last few months. Carmax pricing was about $2k more than other local dealers.
They sell a lot of cars, so obviously a lot of people find the buying experience attractive. In the latest report they claim an average $2250 (IIRC) gross per vehicle sold. Do they overpay? I've seen folks claim Carmax only sells creampuffs, and you're paying up for quality. Not my experience. They sell used cars, used cars have flaws.
I've sold them two cars and gotten pricing on a few others that I then sold privately.
