Hammer Time: Buying Ugly, Selling Happy
Today I bought an Astro with a garbage bag for a driver’s window. Three very ugly Cavaliers. A Dodge Ram with a vinyl interior. A brown Chrysler Concorde with a deformed trunk lid. A Ford F150 with plexiglass rear glass. A Tahoe with 235k. A Suburban with a rebuilt title, and a Maxima that doesn’t run… yet. Total cost was about $8500. Why would I buy all this drek? Well, truth be told none of these will be keepers. I won’t be financing them. They won’t be used as rentals. In fact I have absolutely no clue about their long-term durability. I bought them because I needed to fatten up my dealer auction for next Tuesday. Will it work? You bet.
We’re in a time of year called, ‘Tax Season’. This is the time of year where most independent dealers will make their fortunes. From late January to late May Uncle Sam will be throwing over $300 billion in overseas supported currency into American hands. The single mom with three kids and a $16,000 income? Her tax return will border on the mid-four figures. I’m not here to rationalize income redistribution or tow the political lines. But I will tell you straight up that when it comes to cars, money and bullshit are in full swing this time of year.
Most of that ‘money’ will be gone within a week and will go to either one of two things. Electronics or a car. The cost of most used cars at the auctions usually go up about 20% to 40% this time of year for one simple reason. They sell. Even the lowliest of vehicles can find the loftiest of returns during tax season. What this means for me is that 50+ dealers will be looking at my merchandise come Tuesday. I won’t curse my luck and say it will be a great sale. But when you’ve seen the waves of demand come and go as long as I have, you know when to buy and sell. This Tuesday I will hopefully rid last winter’s ‘wholesale heaven’ of 60 vehicles.
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- Jeff Of all the EV trucks I like the Rivian the best but I am still years away if ever from buying an EV.
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