#StevenLang

One of my good friends and long-time TTAC commenters asked me this question.

Hey Steve,

If you have a moment, what are the high and low values right now at auction for the following:

2000 Chevy Monte Carlo SS 40K miles gold/tan

2006 Mustang GT premium 27K maroon/tan

2006 G6 GTP folding hardtop 53k black/black

I could only give him one response and it wasn’t, “Go play darts and put some numbers together!”

The answer came in three simple words.

Condition, condition, condition.

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.

“Honey? I just got into an accident!” she said.

My body experienced an instant adrenaline rush as my mind wandered through the worst “what if?” possibility of that moment, something like the image above.

My wife… Hospital… Pain… Medical bills… The other driver…

“Is everyone okay?” I asked in reply.

4 a.m.

The alarms clocks ring. Both of them. Just in case I get any funny ideas.

I go through the semi-conscious motions. Clothes… suitcase… glasses… coffee… breakfast. By 4:15 a.m, I’m out the door and driving to the airport in a 21-year-old Geo Prizm. I figured that a 5-speed and a stark lack of noise insulation will keep me alert. Thanks to Atlanta’s penchant for using steel plates to cover up every possible pothole on the road, I am not disappointed.

You may have noticed that car dealers get bashed by the mainstream media on a regular basis.

There are a few good reasons for that.

Imagine if you will.

The world’s largest and most consistently successful automaker is in deep trouble. Not because of profits, but because of products.

Automakers have collectively spent tens of billions of dollars trying to concoct schemes sales campaigns that make consumers perpetual debtors instead of long-terms owners.

$129 a month. 0-percent financing. Move the decimal point here and the first payment there. Sprinkle a healthy amount of small print, toss in some advertising that pushes the right buttons, and keep driving down credit standards to the point where you maximize your long-term profits.

It takes the right financial recipe — and an awful lot of money — to keep any automaker in the black. The mathematical truth of the auto industry is that automakers can’t do anyone any favors, anywhere, if they don’t successfully cater to a healthy audience that embraces debt as a long-term financial proposition.

So with that said, how should automakers cater to the keepers among us? Those new car shoppers who buy once, and then try to keep their cars until they are often times worth more dead than alive?

Hi folks. My name is Daryl Horton and I run an auto recovery company out of Tallapoosa, Georgia. It’s a nice little place on the very tip of southern Appalachia that I always like to call a “big small town.”

We happen to have about 3,000 people in the city limits and about 30,000 more in Haralson County. The county pretty much stretches like an angry copperhead from the border of Alabama to the outskirts of Atlanta, thanks to the South’s unique killer combo of old liquor laws and modern day politicians. I always tell folks that we may someday run out of jobs in Tallapoosa, but we most definitely will keep on having snakes whether they’re in the bottle or out walking around!

Anyhow, life has always been a bit interesting out here. I grew up in Tallapoosa and my mom, who worked as a secretary at the nearby elementary school, made sure that my two sisters and I would become straight arrows. She loved us, but cars brought on an entirely different range of emotions in my mom.

Hate at best, and extreme rage at worse.

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.

I usually have more fun with $5,000 cars than with $55,000 cars.

It’s not because I’m cheap. Well, let me rephrase that. I love investing in a quality vehicle, but in the world that is wholesale auctions, I rarely get to see them. You can find nearly anything at the auctions that has been traded-in, repossessed or not picked up at the end of it’s lease. What you can’t find are the keepers.

Toyota imported only a bit over 5,000 of these IS F sports sedans from 2008 thru 2014. The number brought to auction so far in 2015? 35. Annualized, that’s less than a 1.5% turnover rate in a business where anywhere from 20% to 60% of late model vehicles will revisit ‘wholesale heaven’ before getting shucked back into a retail dealership.

After a week and change behind the wheel of this 2014 Lexus IS F, I finally figured out why you see so few of these vehicles at the auctions. It’s the one missing ingredient that nearly every enthusiast publication glosses over when they review any high-end sports car.

The real world ownership experience.

Michael writes:

This August, we will have a 23-year-old German au pair coming to live with us. She will be taking care of our three boys – ages 6, 4, and 1. I am looking for transportation for said au pair that fulfills the following criteria:

Introducing a brand new column at TTAC: The Ultimate Fit, where you get to figure out the unfortunate souls who would best fit for the rolling relics of the used car world.

Let’s take this 15 year old, 3-door Chrysler minivan with only 59,000 original miles. Better yet, you take it and try to find the perfect buyer.

That moment you realize the oldest car in the parking lot is yours.

Yeah, I just had that moment.

The car in question is a 2001 Honda Accord EX. Four-door. Five-speed. A dodo bird of a used car stuck in today’s finance driven market. I walked around the parking lot you see above trying to find one vehicle, any vehicle, that’s as old as mine.

The blue ’05-ish Caravan on the bottom left came a bit close, but it didn’t happen. Instead, everything else seemed to be on the younger side of the curve, the overwhelming majority of vehicles sold new at a later time in history.

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?

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.