no, just haven’t caught up yet. algorithm hasn’t adjusted. it’s not done by people, it’s done by a computer program.
Come one, my S60 been at around $32K for 2 months now. Carmax offered $33K last week and $31K this week lol
MMR is right but 2 weeks ago a local ford dealer in IL paid me $28,500 for Mustang 2.3 2019 when the MMR for that exact model i checked before heading to dealer was $26,9xx. not arguing that mmr is wrong. but just interesting DP
Are you saying when it’s time to turn in my well worn 3 year old XC90 I’m not gonna be able to get 10k in equity out of it.
Way to burst my bubble 
. [Sarcasm]
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If anybody has a worthless XC90 that they don’t need, please let me know. I’ll give it a decent home.
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Prices seem to be dropping, albeit slowly. While CarMax, Vroom et al. are losing gobs of money, keep in mind that the somewhat sad part is who CarMax’s customers are. They seem to target subprime buyers. The bigger problem are the consumers who don’t do much research, who can’t wait, and are paying well over MSRP for used cars when nearly every model can be bought new @ or near MSRP right now.
My 4XE just disappeared from CarMax’s site, so presumably someone paid slightly over MSRP for a truck they could have bought for ~8% off plus $7500 had they done a bit of research.
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I don’t understand this argument. Things are worth what people are willing to pay for them. If the person paying happens to be a corporation owned by a billionaire who doesn’t give a shit about losing millions of dollars, I still wouldn’t call that thing worthless.
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There’s a bifurcation here. You can get a better deal on a luxury car than a Mazda Honda or Toyota if your budget is X.
2019 Mazda CX-5 with 40k miles are going for $30k - assume similar for CRV / RAV-4
RDX / NX. Etc. are $34k for same year and mileage (and stickered MSRP was $45k)
34k for a 3-4 year old car stickered at 45k isn’t… a lot?
Comparatively no. Considering mainstream cars that stickered at $27k are selling at $34k.
Normally I think a $45k car off a lease would sell as CPO for $30k if my memory is correct
Who would have known earnest Garcia built and empire of shit?
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They might have sent it to another carmax location. Last year one of mine disappeared and reappeared at another location eventually.
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The problem is that the average person is a moron. I know I sound elitist by saying that, but unfortunately it’s true. They fixated on a particular make/model and then want to know the monthly payment. No idea what their total cash outlay is over the life of the lease/loan.
You’re absolutely right, people are overpaying for Civics, I saw a member here (obviously smarter than the average Joe) say how he shopped the Civic and all the dealers wanted $2k+ over, he found an Integra at MSRP. Even today, Honda/Toyota are still supply constrained while many other brands have availability, but sheeple are willing to overpay.
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It’s insane how much markup there is on entry-level stuff while near-luxury is available @ or below MSRP. Yet sheeple will happily pay far more than they need to.
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CarMax shouldn’t really be lumped in with the rest of these companies (carvana, vroom, shift). They are profitable and have been around for almost 30 years.
Their business model may prey on the uninformed but they aren’t dependant on burning VC money to stay afloat.
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Tell that to the hordes of rav4 prime seekers in SoCal willing to pay 8k over MSRP.
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Don’t forget Carmax had enough cash to buy Edmunds.
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Nor should AutoNation, and they tend to be amongst the highest bidders consistently for used cars. The dysfunction of Driveway with their connection to Lithia still confuses me.
that’s not the reason mass market cars are so expensive. theyre expensive because previous buyers of luxury cars could no longer afford them so they went downstream. the RX350 buyer went to a highlander. the mdx buyer tried to find a pilot, etc. those who previously bought pilots still want to buy pilots, but there arent enough to go around…
we’re already seeing luxury lots pile up w inventory that nobody’s buying. notice how we’ve had 10%+ discounts on audis and over 11% on volvo loaners…
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