The Grinch

[Larry Schramm]

37 minutes ago, DAVES89 said:

Paying off my house allowed me to start buying cars as a hobby instead of just transportation. Only problem is it that interest was only one kind of car...

 

Now there doing that.

[60FlatTop]

Around here there are a lot of people with various marketable skills who "worked under the table" through the 1970's and '80's. Those are the ones doing most of the whining now. One has to understand that legal, above board job employment is pretty important at the finish line. Younger people need to understand the value of a mix of income streams.

 

 

 

[Thriller]

The article noted has some good information.  However, being in the industry, there are some statements I cringe at.  Most people are more conservative-minded than their example.  Pre-retirees shouldn’t be all in equities (stocks)...remember 2008?  A lot of near-term retirees were caught with their pants down.  A balance should be struck at that point between growth and capital preservation.

 

At any rate the survey results and statistics aren’t what I’m refuting.  Simply keep in mind there are some differing philosophies out there.  I tend to lean toward the conservative side.

 

[60FlatTop]

I have always maintained that I took my retirement from age 20 to 35. Then I got married and figured I had to work the rest of my life.

 

I never was one to work hard and the older I get the better I like it.

 

You know, a lot of people retire just when work gets easy. Even the surprises are predictable. Maybe you can't change outcomes but it sure is nice to brace for them coming. I have two trade luncheons next week and expect them to be fruitful.

 

Sunday, when all the salespeople were home, I looked over a used 2015 Silverado listed at $32,000, a babied off lease truck that is probably 40% off the original price. I even let my Wife see me do it. When I got back into my Silverado she said "If its as good as this one has been...." That alone made me smile all day.

[avgwarhawk]

1 hour ago, 60FlatTop said:

I have always maintained that I took my retirement from age 20 to 35. Then I got married and figured I had to work the rest of my life.

 

I never was one to work hard and the older I get the better I like it.

 

You know, a lot of people retire just when work gets easy. Even the surprises are predictable. Maybe you can't change outcomes but it sure is nice to brace for them coming. I have two trade luncheons next week and expect them to be fruitful.

 

Sunday, when all the salespeople were home, I looked over a used 2015 Silverado listed at $32,000, a babied off lease truck that is probably 40% off the original price. I even let my Wife see me do it. When I got back into my Silverado she said "If its as good as this one has been...." That alone made me smile all day.

 

 

I have no issue purchasing used cars as the depreciation has already been paid by the original owner.   For instance, my wifes Mountaineer, paid $27k on a fully loaded Mercury Mountaineer.  It had 27k on the odometer.  It is a 2006.  My wife still drives it today with 137k on the odometer.   I have the original window sticker. It listed at $41K.   Oddly enough my wife does not want to trade it in for anything.  I put her behind the wheel of a new 2018 Toyota 4 Runner Premier.  No sale!  God love her.....        

[avgwarhawk]

1 hour ago, Thriller said:

The article noted has some good information.  However, being in the industry, there are some statements I cringe at.  Most people are more conservative-minded than their example.  Pre-retirees shouldn’t be all in equities (stocks)...remember 2008?  A lot of near-term retirees were caught with their pants down.  A balance should be struck at that point between growth and capital preservation.

 

At any rate the survey results and statistics aren’t what I’m refuting.  Simply keep in mind there are some differing philosophies out there.  I tend to lean toward the conservative side.

 

 

I also lean towards the conservative side.   Slow growth that is also slow to lose when the market takes a down turn.  But like anything,  it is a risk.  However, the risk taking is better than not taking one at all.   

[Bhigdog]

2 hours ago, avgwarhawk said:

 

 

I have no issue purchasing used cars as the depreciation has already been paid by the original owner.   For instance, my wifes Mountaineer, paid $27k on a fully loaded Mercury Mountaineer.  It had 27k on the odometer.  It is a 2006.  My wife still drives it today with 137k on the odometer.   I have the original window sticker. It listed at $41K.   Oddly enough my wife does not want to trade it in for anything.  I put her behind the wheel of a new 2018 Toyota 4 Runner Premier.  No sale!  God love her.....        

 

As I was talking to my Dodge dealer about a new Durango I didn't like anything I saw both for the "new" platform or the price. He asked if I would be interested in a brand  new one with some mileage on it????????????? Seems Chrysler loans new cars to some executives for one year then sells them. He said there was a facility in Hatboro, PA where they were kept for dealer disbursal. He checked the stock and there was a fully loaded one available with 14,000 miles, $44,000 sticker he would sell to  me for $23,000. Sounded too good to be true but it wasn't. He picked up the car, it was flawless and came with a certificate of origination from Chrysler. It was never before sold or titled. Sadly my dealer retired and sold the store. The new owners are s**t heads.............Bob

[Bill Stoneberg]

I like to find "little Old Lady" cars.  Ones that have been driven to church and the store and not in much traffic.   I have a 2007 Lucerne that I bought for my wife a few years ago like that.  25 K on the odometer and now has 52 K on it.

Runs great and drives nice and hardly used.  If she avoids poles and other cars, I can keep that one for a long time.

[NTX5467]

Few people realize that GM (and others) do (or used to have) fleets of vehicles that are driven by factory reps.  Parts reps, service reps, new car sales reps, etc. that use these cars to make their rounds between the dealers in their assigned areas.  These fleets are usually "turned" to the OEM's dealer auctions for resale, along with their lease returns and such.  Various terms, as "factory rep cars" or "brass hat cars" have been attached to these vehicles.

 

Once, our parts rep showed up in an extended cab 1/2 ton Silverado . . . with a Borla cat-back exhaust system under it.  The Borla systems were a new GM Perf Parts item, so they were using the factory fleet to use to show these systems to the dealer network.  After a few months, when the mileage limit was hit, it went to the auction.

 

Another time, our vehicle sales rep was driving a 2nd-gen Reatta Convertible.  Our Finance guy took a fancy to it, so we made arrangements to get that car when it got turned in.

 

When the lease-return cars come back to GM, they can be used to gauge durability issues.  As the use of DexCool in particular, in the later 1990s, was something that was paid attention to (with regards to why some vehicles seemed to have no problems and others did).  A rolling research fleet, of such.  After reconditioning, then off to the dealer auctions.

 

At one time, GM would take their year-old "fleet" of cars, completely refurbish then (tires included), then internet sale them to the dealers as "Front Line Ready".  At that time, in the earlier 2000s, the Intrigues and Regal LSs were all $15996.00 and had about 15K miles on them.  NOT a bad deal at that time.  What impressed me was that if the car needed "H"-rated tires, it got them, for example.  Everything was "to OEM production specs", when some dealers wouldn't go quite that far.  A great deal while it lasted!

 

NTX5467

[avgwarhawk]

There are still demo cars that can be had with reduced pricing.   My friend purchased a 2018 Lexus 500 demo(car dealership owner was driving) that had $20k was knocked off the price.  The car has 6k miles on it. 

[parkertom]

19 hours ago, Bill Stoneberg said:

I like to find "little Old Lady" cars.  Ones that have been driven to church and the store and not in much traffic.   I have a 2007 Lucerne that I bought for my wife a few years ago like that.  25 K on the odometer and now has 52 K on it.

Runs great and drives nice and hardly used.  If she avoids poles and other cars, I can keep that one for a long time.

I look for these too. Although last time I was in the market for a car, I was having a hard locating one. Ended up getting a formerly leased Enclave that was 3 years old. Dealerships like Carmax are full of these former lease cars.

[RivNut]

17 hours ago, NTX5467 said:

Few people realize that GM (and others) do (or used to have) fleets of vehicles that are driven by factory reps.  Parts reps, service reps, new car sales reps, etc. that use these cars to make their rounds between the dealers in their assigned areas.  These fleets are usually "turned" to the OEM's dealer auctions for resale, along with their lease returns and such.  Various terms, as "factory rep cars" or "brass hat cars" have been attached to these vehicles.

 

Once, our parts rep showed up in an extended cab 1/2 ton Silverado . . . with a Borla cat-back exhaust system under it.  The Borla systems were a new GM Perf Parts item, so they were using the factory fleet to use to show these systems to the dealer network.  After a few months, when the mileage limit was hit, it went to the auction.

 

Another time, our vehicle sales rep was driving a 2nd-gen Reatta Convertible.  Our Finance guy took a fancy to it, so we made arrangements to get that car when it got turned in.

 

When the lease-return cars come back to GM, they can be used to gauge durability issues.  As the use of DexCool in particular, in the later 1990s, was something that was paid attention to (with regards to why some vehicles seemed to have no problems and others did).  A rolling research fleet, of such.  After reconditioning, then off to the dealer auctions.

 

At one time, GM would take their year-old "fleet" of cars, completely refurbish then (tires included), then internet sale them to the dealers as "Front Line Ready".  At that time, in the earlier 2000s, the Intrigues and Regal LSs were all $15996.00 and had about 15K miles on them.  NOT a bad deal at that time.  What impressed me was that if the car needed "H"-rated tires, it got them, for example.  Everything was "to OEM production specs", when some dealers wouldn't go quite that far.  A great deal while it lasted!

 

NTX5467

Under the seat of the 85 Riviera coupe that I had was the build sheet for the car.  It was very well equipped with the factory rally wheels, leather, sunroof, V8, and digital dash.  The build sheet showed that it was built for and delivered to the Buick Headquarters in Flint.  It was a Buick exec's car.  I never found out whose but I thought it was neat to have a car with thiat kind of history.

[Larry Schramm]

21 hours ago, NTX5467 said:

Few people realize that GM (and others) do (or used to have) fleets of vehicles that are driven by factory reps.  Parts reps, service reps, new car sales reps, etc. that use these cars to make their rounds between the dealers in their assigned areas.  These fleets are usually "turned" to the OEM's dealer auctions for resale, along with their lease returns and such.  Various terms, as "factory rep cars" or "brass hat cars" have been attached to these vehicles.

 

NTX5467

 

Lost count of the number of those cars that I drove.  I drove probably 12-15 of those cars a year for over a dozen years in the 80's and into the 90's.  At that time we would drive them a little over 3,000 miles, turn them in and get a new one.

[EmTee]

12 hours ago, Larry Schramm said:

Lost count of the number of those cars that I drove.  I drove probably 12-15 of those cars a year for over a dozen years in the 80's and into the 90's.  At that time we would drive them a little over 3,000 miles, turn them in and get a new one.

 

...and that cost is apportioned across all of the cars sold (or leased) to John and Jane Doe.  Sweet deal for the employees who drive a new car for free.  I have a new neighbor who works for GM; he just swapped his 'old' Tahoe for a new one.

[RivNut]

When my dad was working at the Buick dealership in Hutchinson, each salesperson had a different model "demonstratior" so that potential buyers could test drive different cars.  The owner always drove the Roadmaster or Electra that was optioned over the top.  The new guy got to drive the basic Special  But it was a freeby.

[Frank DuVal]

I'm not sure what my 1995 Park Avenue  Ultra was doing for GM, but when I bought it used in 2003 it had 37K miles on it and came with a fresh Michigan General Motors title with just a couple hundred miles difference between the title and current odometer reading. It was bought at a GM auction in Tidewater Virginia by a semi-retired dealer who sold it to me about a month later. He suspected long term use of dealer plates by a dealer's mother. It had suffered right side damage at some point, doors blended in. Only options not on the car are CD player and sunroof.

[Larry Schramm]

23 hours ago, EmTee said:

 

...and that cost is apportioned across all of the cars sold (or leased) to John and Jane Doe.  Sweet deal for the employees who drive a new car for free.  I have a new neighbor who works for GM; he just swapped his 'old' Tahoe for a new one.

 

Let me tell you those were anything but "Free".  They were work related vehicles.  I usually drove about 1,000 miles a week contacting dealers, talking to customers, and a myriad of other assorted tasks.  I was also responsible to report quality issues.  Usually spent a couple of days a week in a hotel while being gone from home for work. Being a rep in those days was anything but a 40 hour week.

[EmTee]

16 minutes ago, Larry Schramm said:

anything but a 40 hour week

 

What's that? 

Yeah, I can see there are real reasons for such vehicles.  I guess it says something when the vehicle is a Tahoe, vs Impala and the latter is now being discontinued.  Presumably that's simply confirmation that trucks & SUVs continue to provide the highest residual value.

[Thriller]

If the Regal TourX was offered in an AWD configuration in Canada, perhaps it could compete with some similar bodies like Volvo or Subaru.  

 

Alas, we don’t get the Cascada nor TourX.