KMX

I have access to Manheim the wholesale dealer car auction and can see what stuff is going for etc, Carmax buys at wholesale prices from the auctions and then sells for full NADA retail pricing. No haggling. Idk how much business they get, but they have some of the better margins I would guess because of basically starting at the max price and refusing to come down. With that being said, when I was in banking and doing auto loans, I almost always discouraged people from going with them because they could find better deals elsewhere usually. I'm not a big fan, but I've never bought one from them so can't speak from direct experience, just from doing loans on them. I did have them outbid me on a car at the auction earlier this year though, so maybe I'm holding a grudge lol.
 
FCXoptions said:
I have access to Manheim the wholesale dealer car auction and can see what stuff is going for etc, Carmax buys at wholesale prices from the auctions and then sells for full NADA retail pricing. No haggling. Idk how much business they get, but they have some of the better margins I would guess because of basically starting at the max price and refusing to come down. With that being said, when I was in banking and doing auto loans, I almost always discouraged people from going with them because they could find better deals elsewhere usually. I'm not a big fan, but I've never bought one from them so can't speak from direct experience, just from doing loans on them. I did have them outbid me on a car at the auction earlier this year though, so maybe I'm holding a grudge lol.
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I was just talking to a guy that runs the used car lot for a franchise (Buick/GMC) dealer here and I asked him what he thought of them. He said "I love them" and then went on to say he could always underprice them and used their website to show his customers that they were getting a better deal with him.

They just have too much overhead. But who knows. It'll probably hit $61 this week.
 
Up on heavy volume today.

Someone bought 1500 of the Oct $62.50 calls @$2.05

New CEO. No news that I can find.

They can play their damn games. This thing is an overvalued pig.

Best to get on the sideline for now though. I'm getting out.
 
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They report Wednesday before the bell.

For the last 4 years, their September earnings report has beat on both the top and bottom line. It looks like they perennially sand-bag their biggest season.

They'll probably go up... I won't be playing....
 
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