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Smart Shopper Stories from the Sales Frontlines
48164 messages, Last post on Dec 09, 2009 at 7:02 AM
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Replying to: nyccarguy (Aug 11, 2009 7:21 pm) Thank you for the story, well played, well written. |
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Hi,My local Chevy dealer has an unsold brand new 05 Chevy Silverado truck for 38k.I was surprised.Thought it was a typo,so I called them and yes it`s a new 05 Chevy.I was more than surprised when they confirmed it.Doesn`t help that it has a manual tranny. So my question is -Generally how long do dealers keep new cars on their lots before they are sold?I thought 2 years ..But never heard of almost 4 years ,getting to 5 years?Is this a rare incident or is it not that uncommon?Probably by now he must have overpaid for it a lot in the financing?So why keep it even longer? Your thoughts?
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Replying to: deltheking (Aug 14, 2009 11:48 am) Richard |
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Replying to: deltheking (Aug 14, 2009 11:48 am)
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Replying to: canadiantoyota (Aug 14, 2009 12:33 pm) 
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Replying to: deltheking (Aug 14, 2009 8:32 pm) I heard from Isellhondas. He's working 12 to 14 hour days because of the C4C program. Don't you know that he has some stories to tell? Perhaps in a month or two, he'll get a chance to entertain us. Speaking of C4C, it is a shame that some of these trade-ins couldn't go to a few charities who accept cars. It might help some single mom have transportation to work, or assist an unemployed dad in having transportation to go job hunting. It seems so wasteful to just destroy these vehicles. It certainly says something about American society today. If it's old or a little worn, just throw it out. Also, I hope that the C4C program doesn't put more people in debt with car payments. Without C4C, some people would have driven on longer with no payments. I realize that the program can be a good deal for some customers, and for the auto industry. Still, you have to wonder if this stimulus could backfire on people down the road. Richard
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Replying to: richard64 (Aug 15, 2009 3:41 am) As a charitable donation, the cars have little value (far enough below $3500-4500 as to make C4C a better deal than a trade-in) so there would not be that much in it for the charity. Also, I've heard before, but cannot readily verify, that the charity's processing costs are such that they make relatively little on the average car donation. Giving it to an unemployed or underemployed person sounds like a good idea, but these cars will be older and have lots of miles. As a rule their maintenance costs are going to be relatively high. The likelihood of a breakdown that strands the driver rises as a car ages, despite any maintenance performed. Also, by definition, the clunker must get poor fuel economy. Saddling an unemployed person with more-frequent fill-ups isn't very charitable. This will probably correlate with higher pollution. In short, the operational costs are higher than average, probably much higher. The only positive I can think of is that they are probably cheap to insure. And the vehicles aren't just set aside to rust away for the next hundred years. The engines are ruined so they cannot be resold but the metal can then be recycled. The rest of the car can be parted out before it, too, can be turned into scrap metal & recycled. In the C4C discussion threads some people have noted that a decent portion of the C4C buyers are paying cash and not financing. Myself, I've been without payments for 8+ years and am ready to buy. My car doesn't meet the clunker requirements so I'm holding off in the hope that prices edge down in a few months. I'm also waiting for the 2010s as for a couple of models I'm looking at there are some improvements I'd like to have. Hopefully I'll have a new ride by December. 
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Replying to: fushigi (Aug 15, 2009 4:17 am) One of my cars is a clunker---'03 Explorer XLT with 98k miles. It runs beautifully and looks great. Even though maintenance costs are high, it still beats a car payment or a reduction in my savings account. I recently returned from a 1,600 mile trip to Boston in the Explorer. It did very well. Thanks for your input. Join us here more often. We tend to get off topic a bit, but our discussions are interesting. BTW, you write very well. Richard
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Replying to: snakeweasel (Aug 13, 2009 7:05 pm)
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Replying to: richard64 (Aug 15, 2009 4:56 am) I only remember a couple of deals where the deal didn't have that large a down payment and the term was longer then 48 months. There were a couple of longer term finances but they still put down another 5,000 dollars in addition to the clunker money.
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