General Motors disclosed in its quarterly Securities and Exchange Commission filing Thursday that the Federal Trade Commission is investigating the automaker for selling used cars under recall, the Detroit News is reporting.
According to the automaker, the FTC notified GM that it was investigating “certified pre-owned vehicle advertising where dealers had certified vehicles allegedly needing recall repairs.”
The filing acknowledges the investigation is connected with the 2014 recall of 2.59 million cars with faulty ignition switches that could turn the car off while driving, disabling its airbags. So far, 124 deaths have been linked to the defect.
Several times in the last few weeks I have had a friend come up to me and tell me that they bought a used car, there is some problem with it, and now they want to sue the dealer. And if not a lawsuit, then at least they want some sort of compensation, like a free replacement car.
I generally listen intently to their problem, and confirm that I’m understanding it, and make eye contact to show that I care, and then tell them something along the lines of the fact that this is the single stupidest thing I’ve ever heard in my entire life.
Here’s a newsflash for everyone out there who bought a used car with a problem: You bought your vehicle in as-is condition. This means you must accept it “as it is,” even if how it “is” is fitted with brake pads that are actually USB sticks. Even if its mirrors are sun visor mirrors taped on the mirror housings. Even if it is a Pontiac G6. You now own this car and you signed the papers saying so. The dealership held up its part of the obligation in selling you the car. Now you must hold up your part of the obligation in getting the thing the hell off the dealer’s lot.
The National Automobile Dealers Association new electric vehicle retention list released last week has a tasty little tidbit in its roundup of value retention rates.
Tesla’s Model S, which topped the 3-year value retention rate list for EVs in the new list, also sported a better value rate for most cars on a similar list released last year for all segments, including mid-size luxury cars. That includes BMW.
But the news may not be all good, all the time.
Movie director John Landis is probably best known for his 1978 comedy classic Animal House. I am such a fan of it that I recently made a pilgrimage to the Dexter Lake Club, the Oregon roadhouse used in the film where the frat boys partied during their road trip in a black suicide-door 1964 Lincoln Continental. (“Do you mind if we dance wif yo dates?”)
To folks in the retail automobile business Landis is better known for his lesser-known 2004 Independent Film Channel documentary Slasher, a movie that represents the most authentic cinematic depiction ever about selling cars. (Read More…)
In a hurry to trade your new Buick Regal for something else? You’re not alone, as the sedan joins a handful of models traded-in after a year of ownership.
So, let me be clear: I have a very good, brand new car. I have no real need for a second car, no place to park a second car and no desire to take on a project. But god damn it, I want this.
The next vehicle the TTAC Zaibatsu or the B&B rent could be safer if Congress heeds the call of the National Highway Traffic Safety Administration.
Please welcome Fil Cvetkovic to TTAC. Fil owns a manufacturing firm involved in automotive, aircraft and other industries – and has a long history with owning, repairing and giving up on obscure project cars. Fil will be reporting on used vehicle auctions, and likely picking up new projects for the ame time.
Being the new kid on the block at TTAC, I figured an appropriate place to start would be introducing myself. My name is Filip Cvetkovic, but many know me as Fil or… “Phil with an F.” More importantly, I have more or less dedicated my entire life to the pursuit of unicorns. No, not the mythical creature, I’m talking about the cars that are made of unobtanium. As of this moment, at the ripe young age of 25, I’ve owned 96 cars. Many of which were never even available to Canadians.
Today’s Quote of the Day actually comes from someone I know, with a used car question.
“this guy im sleeping with wants to sell me 05 caliber 125k [77,000 miles] for $6k. Good deal?”
Jack Baruth has a very thoughtful post on selling his green stick, apparently an Audi. (See No Fixed Above: Stick it to ’em.) Here I delve into his logic as a devil’s advocate.
A key observation throughout his post is that most (newish) used cars move through dealerships, and for many there is an auction through a Mannheim or Adesa in between the trade-in and the used car lot. The same is true in Japan: the graphic above is of a car auction in Osaka, though on-site buyers sit at computers with a huge display of the two virtual “lanes” with no audible action. (For more see my post on a June 2014 visit at Auto Auctions, Japanese Style.)