While attending a preview drive in Charleston, SC, I spied a most unique vehicle parked near a major thoroughfare: a pickup based on a W124 Mercedes-Benz wagon.
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Category: Used Cars
From the good old days of 2007…
“Is that yours?” Millions of car buyers spend billions of dollars hoping that this statement will be born of admiration rather than pity. When these words come out of a car dealer’s mouth at trade-in time, they can be especially hurtful– even if the salesman is as honest as their spiel is long. That’s the moment when most car buyers finally discover whether or not their automotive “investment” has walked off a cliff and fallen into the financial abyss known as depreciation.
Here’s how to avoid the freefall.
New car sales in the U.S. had crashed from more than 17 million a year to below 10 million. It did not faze you. You buy used anyway. Let someone else eat the depreciation. Now the slump is catching up with you, and you will pay through your nose. Read More >
When friends and colleagues ask our counsel on whether or not to buy an older V12 BMW (it happened more than once) the standard answer is always an emphatic “no”. Most people cannot handle the idea of two ECUs (for twice the complexity and repair bills), and for the average Joe looking for a prestigious ride on the cheap (an oxymoron if there ever was one), a V12 BMW is bankruptcy on four wheels.
But when an ad for a car proudly touts the ability to withstand “.357 MAG., 9MM AND .44 MAGNUM AND EQUIVALENT HANDGUN AND LIGHT SUBMACHINE GUN BALLISTICS“, suddenly it becomes very hard to ignore.
What would be your ideal car? Would you like to have the best of the best? A car that offers all the power and luxury an enthusiast could ever desire?
Or are your tastes a bit simpler? An amply powered but safe utility vehicle that will let you do all your work without a hint of regret about scratches or four figured maintenance bills.
This ‘ideal car’ question yields a thousand shades of gray in practice. Take this Mazda MX-5 for instance.
This market has ceased to make sense.
$7300 (plus auction fee) for a 2003 Honda Accord EX coupe with 220k and a bad rear bumper.
$8800 (plus auction fee) for a 2003 Chevy Tahoe with 102k and scrapes along the side.
$23,800 (plus auction fee) for a 2003 Corvette Z06 with 16k and some really crappy plastic add-on’s.
Keep in mind that last price was well over two grand higher than on Ebay. Same miles. No Wal-Mart quality chrome add-on’s. No interior detail needed.
What the hell has happened to the car market?
Panther lovers will be sad to hear that this, the last of the black-and-white Crown Vic Interceptors, has gone down the line according to the Ford St Thomas Assembly Plant’s Facebook page. The last Panther (reportedly a Town Car) is scheduled to be built on Monday, and the plant’s “about 1,500” workers will be laid off on the 12th of September. If you know someone who loves the Panther chassis, please be sensitive to their needs in this difficult time. Remind them that there’s always the used market, and that someday their beloved brutes will tear ass across a post-apocalyptic landscape, and be known as “the last of the V8 Interceptors.” This is going to be OK…
$100,000 can buy you an awful lot of cars these days. This morning I could have bought a 2011 Lotus Elise with 1100 miles ($42k), a 2003 Chevrolet Corvette Z06 with 16,000 miles ($24k), a 2003 BMW 745Li in mint condition with 80k (18K), and enough left over to take my family on a two month cruise.
But back in 1989 I could not have bought this car brand new for $100K. Not even close. A Mercedes 420 SEL would have set you back $111,000 in inflation adjusted terms before adding options, taxes and bogus fees.
I ended up buying the one pictured a few weeks ago for $1300 (and $115 auction fee). Should I…
Read More >
Way back in 2008, I created the Nice Price or Crack Pipe? series for Jalopnik, kicking things off with— of course— a $12,500 Chrysler TC By Maserati. NCOCP was a way for me to do something with car ads that didn’t quite work for my Project Car Hell series, and it has remained a Jalopnik readership favorite since I passed the NPOCP torch to the very capable hands of Graverobber aka Robert Emslie. These days, however, I sometimes see cars for sale that make me wonder… hubba rocks required or real-world price? While in Wisconsin last week, I saw this fairly solid ’91 Lebaron convertible in a laundromat parking lot with this very compelling self-service invitation. How much? Read More >
The International Crime Complaint Center (IC3) warns that
Online vehicle shoppers are being victimized by fraudulent vehicle sales and false claims of vehicle protection (VPP) programs… Criminals also attempt to make their scams appear valid by misusing the names of reputable companies and programs. These criminals have no association with these companies and their schemes give buyers instructions which fail to adhere to the rules and restrictions of any legitimate program. For example, the eBay Motors Vehicle Protection Plan (VPP) is a reputable protection program whose name is commonly misused by these criminals. However, the VPP is not applicable to transactions that originate outside of eBay Motors, and it prohibits wire transfer payments. Nevertheless, criminals often promise eBay Motors VPP protections for non-eBay Motors purchases, and instruct victims to pay via Western Union or MoneyGram.
No wonder online new car sales have been struggling. Hit the jump for IC3’s list of warning signs.
Twenty years from now I’ll still be looking at cars. They may become faster than today’s sports cars and more luxurious than a Mercedes S-Class. But many of us enthusiasts will find something missing within all their awesomeness
That’s because great cars are not about perfection. They are about character. With that in mind, I found a pristine 1995 Lincoln Town Car the other day. With good miles, pristine leather, and a driving experience as Americana as a 1965 Mustang, it may someday become a collectible worth keeping. But then again…
[Ed: Part one of Steve Lang’s updated used car buying guide is here, part two is here, and part three is here.]
When it comes to buying a used car there are two basic negotiating mindsets. You can either be fair and decent or unfair and obnoxious. If you seek to chisel and deceive then chances are you will get a bad car. Only the desperate and deceitful are willing to put up with that type of BS.
Want a ‘great’ car? Then realize that many sellers respond extremely well to honesty and decency. Win – win is no sin. So, karma lovers, here’s some tips for negotiating the purchase of a used car by observing the Golden Rule.
About a month ago, TTAC’s Steve Lang hipped readers to the fact that used car prices had grown like crazy, and that the time to sell that old car had come. Now the mainstream media is starting to wake up and smell the 30-weight, and the wires are flooding in with stories of used car prices gone wild. The LAT reports that Kelley Blue Book values have risen an average of 16% per year in the 2008-2011 period. Autotrader saw 13 of their top-20 CPO models add at least a grand to their prices in the last month alone. And Bloomberg reports that 2011 BMW Dreiers and M3s now cost only $34 per month more than year-old models, and that new Corvettes can actually be had for $12 per month less than year-old models according to Edmunds.com data. Considering an Acura TL? New models are typically $18 less per month than year-old versions. So what’s going on?
New lease sales fell to 1.96 million in 2008 and 1.13 million in 2009, according to Manheim. Lease originations that averaged 2.78 million during the previous 10 years dried up as lenders such as GMAC Inc. and Chrysler Financial Corp. withdrew financing offers.
Leased vehicles’ input to used-vehicle supply will be 2.08 million units this year, a 40 percent drop from 2002 levels, according to Manheim. Off-lease volumes will keep declining through at least next year, to 1.53 million, Manheim says.
Sales to rental fleets, which fell to 1.13 million vehicles in 2009 from more than 2 million in 2006, may not exceed 1.5 million until after this year, according to Manheim. The 2011 contribution to used-vehicle supply from rental fleets will be about 1.4 million vehicles, a 30 percent drop from 2005 levels.
But here’s the real question: how long can this last?
Kia no longer exists. Yes there is that Hyundai subsidiary now known as Kia. But before Kia Motors went Chapter 11, there was this strange Korean company that sold spasm inducing horrific vehicles.
I’m not sure any female car enthusiast would ever be happy with the name Sephia. Just saying that name alone can induce ugly flashbacks for prior owners and dealers. Sportage rhymed with ‘shortage’ and had parts that may have indeed come directly from plastic soda bottles and aluminum foil. Then there was this plain wretched thing…
[Ed: Part one of Steve Lang’s updated used car buying guide is here, part two is here.]
You can rigorously apply the tests described by previous installments of this series without encountering a single setback. However when it comes to buying a used car it pays to assume one simple salient fact: you don’t know the complete truth. At least not yet.
When it comes to pursuing the deeper truths about a used car an experienced mechanic will inevitably become your greatest ally and advocate. For most consumers finding a knowledgeable mechanic will be the most important step in the used car buying process.
Before we talk about that, I want to be perfectly clear on this point. A used car is guilty until proven innocent. Do not buy one without taking the car for a professional inspection. If the seller doesn’t agree to let you do so you’re done. Period. No exceptions. Ever.
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