Hammer Time: Can A 1994 Dodge Viper Bite You In The Ass?

Monday morning. Auction time. I have 116 vehicles in front of me and a 21-year-old supercar that’s making me think back to the days when truck engines in car bodies were still all the rage.

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The Warren Buffet Way To Buy And Sell Cars

The august founder of TTAC, Robert Farago, asked me to shop around for a Lexus IS F nearly seven years ago.

Those were bad old days. The “Fall of 2008” was a brutal, hopeless, and downright dire time in the American retail car market. Nobody was buying $50,000+ sports cars like this Lexus, and the few that could afford to were too busy watching their stock values sink like stones and their home values dive straight into the ass end of a 20 year time warp.

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The Deeper Dive: When Is It Time To Junk Your Car?

About a third of the questions I get from readers center around one issue: euthanasia in the car world, or what I like to call “automotive decrapitation”.

In other words, when is it the right time to recycle an old car and transform it into a cheap Chinese washer and dryer?

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New Or Used? : Try To Hit Em' Where They Ain't

Hi Steve,

I have been trying to find a Lexus GX470 for several months now. Either a 2012 or a 2013.

What I have found is that these vehicles simply don’t exist here in Tennessee.

I have gone through every Lexus dealer in the state, along with a few others that are out of state. I can’t find a GX anywhere.

So I thought that maybe I should try to look at a Toyota Sequoia, or maybe even a Toyota Tundra instead. I have found a few of these vehicles at the dealerships, but the prices are stupid high, and I just can’t justify paying what they want me to pay.

I am a cash customer, and I don’t think I’m too picky when it comes to cars. What I wanted to ask you is whether you can actually find a good deal on a late model GX at the auctions.

Steve Says:

No.

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How I Royally Screwed Up My Life And Bought…

A 33 foot stretch limo that was formerly owned by a famous run down strip club in Miami.

Two small TV’s that dated back to the beginning of the Clinton era.

Cheap burgundy upholstery that I probably would never want to study with a forensic light.

104,000 miles, and a corded phone right next to the champagne glasses in the mini-bar. Oh, and it was a Cadillac. Not just any Cadillac. But the last of the old-school rear wheel drive Cadillac Fleetwoods with rear-wheel drive and the 350 V8.

Everyone screws up at some point when it comes to cars. But when I screw up… it’s something truly special.

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Hammer Time: Batter Up!

The bases are loaded and the score is tied. Two outs in the bottom of ninth. 3 balls. 1 strike.

You know this pitcher better than you know your brother. The last pitch had almost cleared the left field pole, and the entire stadium. Your swing was as beautiful as Mickey Mantle in his prime. Just a few inches to the right and you would have been on your way to a private party with friends instead of another walk back to the batter’s box.

The catcher signals, and you catch one finger out of the very corner of your eye. Fastball. The pitch comes, right down the middle. It’s almost like a dream and yet, you can’t do anything about it.

The stomach pangs in stress and anguish as the rest of your body remains still. You watch it go past. The thud in the catcher’s mitt. The umpire bellowing, “Stttaaarrriiikkeee!!!” Your manager had told you not to swing and now, you have 50,000 fans booing as you curse under the breath and step away from the batters box.

Will you get a pitch that good again? The pitcher grins as he now knows, his mistake ended up giving him an advantage.

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New or Used : Buy Retail? Sell Wholesale?

Steven

Love your articles on TTAC. Especially those on auctions, your dealership, and used cars.

I was wondering, do you provide services to buyers looking to buy a specific car? The prices in ATL are much better than the market in New England, to the point where I would be willing to fly down, buy a car and drive it back up. (I also have some friends in ATL anyway.)

If you do please let me know. I’ve been hunting for a decent priced NB Mazda Miata – and in my neck of the woods many are quite over priced.

If not no worries. I’ll continue to enjoy your articles.

Thanks!

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Auction Day : Pullin' A 1080

Auto enthusiasts often dream of taking an exotic car through some of the nicest stretches of winding roads the world can offer.

Hairpin turns… beautiful smooth roads…. nice scenery… and all the power and finesse one can summon in a car made for the perfection of that very moment.

Ferrari, Porsche, Lamborghini, the list of great cars serving this unique purpose of vehicular bliss is as long as the opportunity is unique. Even the most frugal of gearheads want to experience this thrill sometime between now and their eventual nirvana.

But then again, I may be completely wrong on all of this. Actions speak louder than words in the enthusiast community, and what I find inside a lot of gearhead garages looks a bit like…

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Hammer Time: Don't Buy With Your Eyes!

People buy with their eyes in this business. Always have and always will.

I don’t care if you are a pseudo-sophisticated Yuppie wanna-be who thinks that Subaru is a value brand, (It’s not. They cater to the Costco crowd.) Or an impoverished mother of five who is taking her $6000 tax check and blowing it on the Cadillac of minivans.

Image completely rules this business. New or used. As much as I would love to sell old sturdy wagons and functional minivans that will last for another seven years, my customers want the modern-day crossover. The SUV that hypothetically gets great mileage if you read the window sticker upside down. A compact with an impossible to find leather interior, and of course, the upscale ride with the nice big wheels.

The first test of whether a car sells in this business comes down to a simple question.

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Hammer Time: Reversing the Clusterscrews

I admit it. Every once in a while I buy a vehicle that simply doesn’t work out.

Everything checks out at the auction. But then, I get a birthday surprise.

It could be a transmission that randomly goes out of overdrive after about 20 or 30 miles. Or an engine that has far too many aged wires for me to easily track down a stubborn check engine light.

Sometimes I buy a 4000-pound ATM machine that only allows you to put money into it; a rolling lemon, par excellence. Then I have to figure out how to make it into lemonade, lemon meringue pie, lemon tart, and even repair fodder for the other rides on the road that are still lemon-free.

Lemons are never fun… but every once in a while fate has a wonderful way of smiling on a pitiful set of circumstances.

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Monday Mileage Champion: Discovering A Lost Dynasty

Sometimes the cheapest vehicle you can buy is one that strongly discourages you from ever becoming a life-long auto enthusiast.

Few cars do a better job with this than the Dodge Dynasty.

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Hammer Time: Carfax, Red Flags, And Rolling Turds

Steve,

You often write about the importance of evaluating a car’s history before purchasing it. We all have access to Carfax and Autocheck reports, but what are some things on those reports that trigger your red flag?

Here are five red flags that always give me a sense of caution whenever investigating the history of a vehicle.

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  • Charles The UAW makes me the opposite of patriotic
  • El scotto Wranglers are like good work boots, you can't make them any better. Rugged four wheel drive vehicles which ironically make great urban vehicles. Wagoneers were like handbags desired by affluent women. They've gone out of vogue. I can a Belgian company selling Jeep and Ram Trucks to a Chinese company.
  • El scotto So now would be a good time to buy an EV as a commuter car?
  • ToolGuy $1 billion / 333.3 million = $3 per U.S. person ¶ And what do I get for my 3 bucks -- cleaner air and lower fuel prices? I might be ok with this 🙂🙂
  • VoGhost Matt, I'm curious why you write that inventory levels are low at 74 days. Typically, 60 days is the benchmark for normal inventory.