Pssst.. Hey buddy. Wanna buy a used Lexus? Only 100,000 miles, stinks like cheap perfume, littered with cigarette butts and has makeup stains all over it, but we'll make you a great deal! We'll take anything -- gotta raise cash and raise it NOW!
March 21, 2008
So I haven't checked lately, but I'd imagine the used-auto market is flooded with realtor cars in places like Phoenix, Miami, DC, San Diego, Vegas etc
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Not seeing it in South Virginia, been watching craigslist looking for construction tools on the cheap and not much being sold. When went to the cars/trucks and same story there. Maybe its too early to look for deals, but I thought I would try to pick up a few items for woodworking hobby.
This picture tells it all...I have not witnessed a profession as money starved & materialistic as Realtors during the peak. It was like you took a hillbilly and gave him a million cash ...but he only had a month to go through it or it would evaporate. Has the "Glamor Shots Studio's" closed at the mall yet? I know 90% of their business was from Buffy & Barbie's monthly sitting for the new "Ask a Realtor" fliers.
I thought that I might find a part-time job repossessing realtor cars.
Right under their noses at open houses.
B
I saw a large flatbed truck on the highway and it was stacket with "flattened" cars. They weren't crushed into small blocks like I'd seen before. No, these still had wheels and tires but they were smashed flat so more would fit in the load.
Is this how used car dealers dispose of their excess inventory?
During 2005 and 2006 I saw Hummer H2's everywhere. And they weren't just the regular run of the mill H2's. Most of them were of the "hey, look at me" variety, with the gay ass hula hoop wheels and a bunch of chrome garbage bolted to them, like the badly needed grille guards or the necessary rear tail light guards. Those are important things to have when your driving through Scottsdale and Phoenix. I've noticed that they started to disappear in 07 and I definitely see even fewer on the road today. Where'd they go?
I almost bought an entire golf set for $60. It was in perfect condition being sold by some FB
i picked up a nice minivan for way below BB from some FB who needed to focus on making their mortgage payment.
Been watching craigs list for a BMW next. lots listed but I haven't seen any in panic mode yet. I've got the $$$ and I am willing to wait.
how do you think they get their cars in Cuba, keith?
Reposessed by China would be my guess. I bet you see a lot of used Hummers, Bimmmers and Lambos on the streets of Beijing nowadays.
Actually sales of new and used cars have tanked. Even Toyota had a sales decline in Jan 08. The way home equity has vanished; well there is no free money to go spend on a luxury car for the average person.
Maybe now prices will get back down to real price levels in proper proportion to income levels.
In the early 1960s a 3 brdm house cost $18,000, a Cadillac was $3800, and a middle age male with a bachelors' degree made $6-8 grand.
Roulghly, a top of the line Cadillac cost 6 months of income. These days a loaded Escalade is about $70 grand. The average income for a white collar worker is NOT $140K. Don't even get me started on home prices. Those same 1960s homes are now $350K....WTF?! That is NOT 3 years of income!
Next big shoe to drop: Collapse of American automakers.
I've decided to wait until after the summer selling season to get a new car. Car sales are expected to be the lowest since 1995. Dealers are already starting to give good incentives but they should be even better in the fall.
A lot of cars go to South America, Africa and the Mid East.
As an example of Realtor dispair, a two year old 7 series BMW that listed for $90k has a trade in value of $37k today. All those realtor leases and construction bigwigs.
Excuse me, but I'm gay and I don't have hula hoop wheels.
Several contributors to my blog tell me that in areas like DC Ranch, Troon, etc, every luxury car you see has a 'for sale' sign in it even if it's only a couple of months old.
I think Repo Man is the new profitable job of the 21st century, especially in places like Scottsdale that are full of pussies who won't put up a fight.
Followup to D in Snottsdale.
I've noticed the same exact thing. I moved to Phoenix in 2005. Saw the H2 Hummers with the stupid magnetic signs on the side doors.
Hardly see any of that nonsense at all now (Thank god).
Watch out on the lease returns. Most of these people figured, "It ain't my car, why should I pay for service?"
These things are the main source of sludged engines, damaged brakes, and hammered suspension (too much parking by Braille).
The situation is degenerating as we speak; they don't even have the price of a Jiffy Lube oil change left on their credit card.
These people cheated their cars just like they cheated their customers. Watch out.
I saw the funniest thing 2 days ago in a Costco parking lot in Laguna Niguel, CA. It was a fullsize Rangerover that had been completely shrinkwrapped with one of those advertising banners and this time it was all about repo homes and how this realtwhore could help you get yours. My how times are changing in snobby South Orange County. I literally laughed out loud when I saw it.
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