Category: Hammer Time

By on March 10, 2014

sev1

114 car dealers. Every single last one of them looking for an impossibly good deal among the 150 vehicles at the auction on a near-Arctic Monday morning.

Even if it’s a seemingly bad deal. It doesn’t matter during this time of year.

This is officially tax season… which means that cars that couldn’t even get a $500 down payment during the post-Christmas drought will soon be picked up in earnest by the sub-prime, debt happy public. A $1200 down payment as their first financial tombstone of 2014 will be followed by a long line of bogus fees, and a note that will hopefully be flipped into funny money (now known as sub-prime asset backed securities) before the drowning debtor becomes financial roadkill.

Everything is high. But surprisingly not as high as in years past. Orphaned brands are mostly cheap. Minivans are cheap, and everything from older luxury coupes to younger hatchbacks can be had for decent money if they’re not sporty or popular.

Speaking of popular. Let me show you a little somethin’.

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By on March 7, 2014

carmax

100,000 miles?

200,000 miles?

300,000 miles?

Everyone has a certain point with their daily driver when they would rather see money back in their pocket, instead of seeing more money fall out of their pocket.

Time marches on. That old clunker loses it’s endearing qualities and then, what do you do?

Well, the answer depends a lot on what type of vehicle you’re trying to sell… which is why I’m introducing Carmax’s wholesale operations into this write-up.

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By on February 25, 2014
YouTube Preview Image

6:30 P.M. and three more cars just pulled up to my place… on a Monday…

Have I just bought a McDonald’s franchise? Not quite. This is the start of what we call “tax season” in the used car business.

A time when tens of millions of Americans who live paycheck to paycheck get a nice four figure lump sum from Uncle Sam and his favorite sub-prime debt dealers.

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By on February 19, 2014
YouTube Preview Image

We want to go on a road trip this summer.

There are four of us. Myself, my wife, a teen and a tween. The wife and kids are thin and I’m about average sized.

Why do I mention this?

We are looking at getting a normal-sized vehicle that can potentially sleep four.  A minivan, crossover, or even a large SUV would be perfectly fine for us. We think that there will be times when we can’t use a tent, and I would rather get away from the overpriced state parks if it’s at all possible.

Our budget is $10,000. We don’t want anything funky to maintain. For us that means no VW vans. We will consider most anything else.  All domestics and imports are on the radar so long as they allow us reasonable sleeping quarters for our family.

Any ideas?

Steve Says:

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By on February 18, 2014
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Georgia is now seriously weighing in House Bill 907 which opponents have dubbed the, “Taxi Monopoly Protection Act.”

It would effectively outlaw ride sharing services like Uber and Lyft. While also making cab companies victims of the usurious fees that they are required to pay to remain in business.

My solution to all this would be politically tone deaf and probably DOA in GA. My special interest is simply a personal one. I want to see better ideas work for the general public.

So here’s my deep dive into the rabbit hole that is government balancing one man’s freedom with another man’s fears.

 

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By on February 12, 2014

littlebangtheory.wordpress

 

When I peruse the websites of some of my local yards, it seems like some of these cars have very little damage but some insurance adjuster has written them off based on whatever metric the company uses.

I’m an experienced shadetree mechanic and it seems like getting a 3-4 year old car for 30% of its original MSRP would be a screaming deal, and since warranty coverage is no longer an issue, it comes down to diminished value on the salvage title. I tend to keep my cars for 8-10 years so who cares.

Here’s where my doubts creep in.

If it was such a great idea, I would have surely read more about it. In the case of this one nearby yard,  they have a huge collision repair facility. So why aren’t they repairing and flipping these cars? Googling doesn’t provide a whole lot on the pros and cons, just on the procedural aspects.

Any experience or stories ?

Steve Says:

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By on February 10, 2014

car.mitula.us

A reader sent me these parameters for picking his next vehicle
I’m at a crossroads. I’m looking for a cheap – laughably cheap – like less-than-$3,000 cheap – car for my next daily driver. It’s got to be economical (near 30 mpg hwy) and fun to drive, with decent aftermarket support (so I can throw a couple mods at it – I’m a gearhead). Oh, and since I’m 6’1″ and have a 1-year old daughter, it needs a back seat.
We can skip the DSM/Mitsubishi reliability warning.
By on February 3, 2014

vwvortex

It would take an immense amount of effort to prove that VW was not telling the truth in their latest Super Bowl commercial.

First you would have to pool registration data from dozens of different countries within the US, EU, Japan, China, Southeast Asia, Africa, and the Middle East.

That’s one tall order. To even make that remotely possible, you would have to get the data from the various states within those countries. Quite a few of them would likely have a hard time even coming up with data that is easily downloadable.

As for verification of mileage? Good luck with that! Even in the U.S. of A., not all states require emission and registration checks that verify the mileage.

So let’s remove probability altogether from VW’s Superbowl proclamation, and deal with the cold hard facts related to the wholesale side of this business.

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By on January 31, 2014

exp1

By the time you read this, I will have bought the last $100 car sold at a public auction… that actually runs!

This 1994 Ford Explorer XL has just under 94,000 miles and has been sitting at a local water department for a couple of years now. The exterior is nothing special, but the interior is surprisingly intact and well kept.

Which begs the question, what the hell should I do with this thing?

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By on January 30, 2014

Ford_vs._Chevy_cover

There are some things that I am too damn old and open-minded to understand.

Like hating a car brand. Especially in those common cases where folks haven’t been exposed to any level of vehicle derived hardships.

Toyotas are boring. BMW’s are Yuppie-mobiles. Mercedes-Benzes are for snobs. On an on, through the lexicon of cliche and generalizations comes the silliest of stereotypes. As much as I hate to see it, hear it, and read it, I’m resigned to the fact that there is always going to be some version of this nuttiness in our world.

But what if there was an easier means to defeat it? In fact, as many of you know, there already is. A force of human good that can outdo any scam artist or snake oil salesman.

The enthusiast forum.

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