REAL DEAL AUTO BLOG

A Deal is a Deal is a Deal, or is it?

Posted in Uncategorized by wolferadio11 on October 23, 2009

auction_arena5Out of 200 Ford Motor Credit cars at the auction yesterday I bought 10.  7 that I designated for retail, 3 for wholesale.  I was second to last bidder on appx 30 more.  Which means from a sellers perspective, I was cruical to him driving his overall prices up.  The truck in question is a 04 F150 4×4 reg cab with 60k on it. Terrible paint, needs a solid grand spent on a strip down and repaint.  But it was cheap, I mean silly cheap.  I gave $5,000 for this little pearl, and ready to go it’s worth 9-10 grand. 

The why is simple.  It’s a 4×4 with under 80k miles in a recent body style.  That’s the why on the value part.  The why on, how did I get it for 5,000 is not as simple.  The answer mainly timing, and condition.  The truck looked like a cow’s ass sewn up with a grapevine bc of the paint.  Someone mixed the paint wrong on a repaint, and just ruined it.  That was $2,500 of the $5,000 price discrepancy.  The other $2,500 A) end of the auction B) I’d been buying heavy all day, running the bidders, and everyone was just tired out in reality.  Opportunies like that happen regulary, but one must hunt hunt hunt, and be patient and ready to react when opportunty arises.

Leaving the auction yesterday, I give the post-sale inspection people all 10 purchase slips with instructions “give me a 7 day post sale on these”  Translation  :  I’ll pay you $115 per unit to inspect these purchases, and guarantee me for 7 days nothing breaks.  Cool, I’m off to lunch.

This morning I call my paint man, ask him to go pick up this pick up to repaint.  He sends drivers to the auction, driver calls me with message “The gatepass to the truck I came to pick up is not here?”  I thought, hmmm, it must have been arbitraded off the post sale inspection, hmm somethings must be wrong with it.  I’ll call arbitration and see what’s up, but for me not to take this thing $5,000 back of the money, it’ll have to have a blown motor and tranny”

Arbitration lady tells me “we called you yesterday, told left a message, I said “no you didn’t, what’s the deal”  She replies, ,”well it was arbitrated for uppper engine noise”  I’m thinking (ok, $500 fixes that, so big whoop) she continues to tell me the sale was unwound, and it’s checked in for next week’s Ford sale.  I say THE HELL IT IS, that’s my truck, I own it.  She say’s ‘The hell you do, we’ve paid Ford for all the deals yesterday, that truck was not one of them, and that truck belongs to Ford Motor Credit”. 

This is a very odd scenerio for those in the trade.  Typically buyers are arguing to get OUT of a car that didn’t pass arbitration.  Whereas, I am arguing to keep a deal together.  I have never in my years experienced this.  So I bought the auctions additional services, and it cost me an estimated $2500 net wholesale profit.  My argument is that I’m thier customer, I paid them to inspect the truck, and then to advise me on it’s condition so that I can make a business decision.  They took it upon themselves to make that decision for me, and I’m not very happy with the decision they made.  I paid for an inspection, not business advise, or did I? 

Hell, I’ve ony bought and sold abotu 20,000 used cars in my day…Sounds like I’m still learning.  I feel like Brad in Fast Times “Hope you had a hell of a piss Arnold!”  Maybe next time I shouldn’t try to be so careful. 

Tune into the Real Deal Radio Show 7-10AM Central Saturday morning, click listen live at www.johnclaywolfe.com

3 Responses

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  1. wolferadio11 said, on October 25, 2009 at 2:13 PM

    28 Comments on “ The Real Deal: Deal or No Deal? ”
    e36m3 :
    October 24th, 2009 at 2:24 pm

    Eh, what?

    This is the most disjointed, incoherent piece of writing I’ve ever seen on TTAC.
    mpresley :
    October 24th, 2009 at 2:40 pm

    Not everyone can write well. On the other hand, that’s what an editor’s for. Right? Whatever, his point was easy enough to figure out: they sold his truck out from under him. Too bad, but that’s business; even more, that’s the car business. At the end of the day, if you line up all the low lifes, cheats, and slimeballs, it’s pretty clear what professions rise to the top. Good to see that it’s not just the end consumer getting shafted. The guy should get himself an attorney–birds of a feather… Really, who needs the aggravation?
    John Horner :
    October 24th, 2009 at 2:53 pm

    Sometimes when you give over your decision making power to a third party you are not going to like what they decide.
    rocketrodeo :
    October 24th, 2009 at 3:11 pm

    Yeah, it definitely needed some editing. I get the gist, though.

    He didn’t pay them to make the decision; he paid them for inspection and advice. I get why he’s upset.
    lahru :
    October 24th, 2009 at 3:29 pm

    Maybe I’m not very smart, but I get his point. He’s a wholesaler, not an author. Jeez, give’em a break.

    Now as to the sale, Ford Motor Credit saw an opportunity to unwind the sale and rerun it next week. Kosher? not so much.

    When you sell thousands of cars a year at Manhiem,Adessa and other auctions you sometimes get to bend the rules.

    Whats this?
    At the end of the day, if you line up all the low lifes, cheats, and slimeballs, it’s pretty clear what professions rise to the top. You know I’m very tired of people are not involved daily in the car business maligning and insulting those of us who do. You guys walk in the showroom, piss on my leg and expect a great deal, yeah likes thats gonna happen!

    You catch more flies with honey than you do with vinegar.
    muskoxherder :
    October 24th, 2009 at 6:00 pm

    I love TTAC, but this was the most incoherent rambling I’ve ever read on TTAC. What the heck is this??
    Ronnie Schreiber :
    October 24th, 2009 at 6:17 pm

    # e36m3 :
    October 24th, 2009 at 2:24 pm

    Eh, what?

    This is the most disjointed, incoherent piece of writing I’ve ever seen on TTAC.

    It didn’t flow well, but I wouldn’t say it was incoherent since we all got the point of the article. If I was editing it, I’d just move a few of the paragraphs around to make it flow better.

    I’d have put much of the final paragraph in the lede. But, hey, there’s a reason why each of us is unique.
    50merc :
    October 24th, 2009 at 6:20 pm

    I see nothing wrong with the writing style. It’s an interesting yarn, well told. Bad experiences can make good stories.

    And I think I’d be happy to pay $115 for expert advice on what’s wrong with a car I want to buy. As long as they don’t sell me out.
    Ronnie Schreiber :
    October 24th, 2009 at 6:23 pm

    At the end of the day, if you line up all the low lifes, cheats, and slimeballs, it’s pretty clear what professions rise to the top.

    Shall I provide links to various states’ attorney discipline panels? Radley Balko’s The Agitator has lots of posts about criminal cops. Politicians can’t keep their flies zipped. And you want to recycle trite cliches about car salesmen.

    You know I’m very tired of people are not involved daily in the car business maligning and insulting those of us who do.

    That maligning of your industry extends well beyond the showroom. I’d be able to afford a Veyron if I had a dollar for every time someone slammed labor or management at the US car companies over the past 18 months.
    GS650G :
    October 24th, 2009 at 7:32 pm

    Not much different from the shit that goes on at ebay or craigslist. He knew it was a deal in the making, someone else figured it out too.

    Rather than bitch, screw someone else the same way. He’ll feel better and it will be a teachable moment for someone else.

    Obviously someone had greater skill than he did. Now he knows better.

    On a positive note, there are plenty of gas hog trucks with crappy paint out there, better luck next time.
    mpresley :
    October 24th, 2009 at 7:50 pm

    lahru :You know I’m very tired of people are not involved daily in the car business maligning and insulting those of us who do. You guys walk in the showroom, piss on my leg and expect a great deal, yeah likes thats gonna happen!

    Surely there’s enough blame on both sides. But which came first, the chicken or the egg? If most people view the business as as slimy then you’ve got to ask yourself, why?
    PJG62 :
    October 24th, 2009 at 8:00 pm

    These wheeler dealers make me want to hurl. Go cry a river somewhere else,,,, $1000 for a complete strip and repaint on a full sized pick up ? That won’t even pay for the paint !
    TonyJZX :
    October 24th, 2009 at 9:48 pm

    made perfect sense to me but maybe it takes one to know one

    author paid $115 for a inspection on the priviso he could return the car if he didn’t like it

    they found something wrong and ASSUMED he didn’t want it so cancelled the sale

    i don’t know if i attribute that to malice or incompetance

    from where i come from you can ask and pay for professional advice but you are free to ignore that advice if you so wish

    in this case they are forcing a missed sale… which is wrong… and unamerican
    GS650G :
    October 24th, 2009 at 10:08 pm

    A car dealer was ripped off?

    Alert the media quick.
    mtypex :
    October 24th, 2009 at 10:56 pm

    I can’t follow the story. Come back and try again?
    jwolfe :
    October 24th, 2009 at 11:15 pm

    I apologize for the unedited, stream of concious post. I enjoy sharing my stories with you gents, but I pressed the send button before the proof read. The critics were a wake up call. I needed a cross-check reminder that my radio delivery fundamentals do not apply in the wrtten word. I’ll slow down, and tighten up in the future. JCFW
    KixStart :
    October 25th, 2009 at 12:31 am

    I think it’s an intereting story. A little hard to follow, but worth it.

    If your “radio delivery” is better, and if it’s feasible, why not do your next as an audio piece? I would imagine it would go like a podcast, except shorter.
    timotheus980 :
    October 25th, 2009 at 12:34 am

    I presume that somewhere there is a contract you signed at some point that is the legal basis for all these transactions.. I’d start reading my copy of it to be sure but in all likelyhood, they wouldn’t have done it if they were not pretty sure they could get away with it.
    john.fritz :
    October 25th, 2009 at 12:36 am

    Geez, it wasn’t that indecipherable, you just had to maybe go back and read a few lines a second time.

    That sucks you lost the deal John. Hopefully something else will come along to help soften this particular blow.
    Bill Wade :
    October 25th, 2009 at 12:43 am

    I perfectly understood his piece.

    1. He purchased a vehicle.

    2. Ford didn’t like it and took advantage of a loophole.

    3. Writer learned a lesson.

    4. End of story.

    When did this site become an English composition site? Personally I thought his style brought a little flavor to to his piece. It’s like I was sitting in his office listening to him.
    alfabert :
    October 25th, 2009 at 12:51 am

    Good editing is nice to have – I could use more of it myself; but to get this view from the trenches is for me rarer still. Thanks for the article!
    Spencer Williams :
    October 25th, 2009 at 4:17 am

    I too would have assumed that an inspection would result in a recommendation, not a decision. That totally sucks.

    And while I’m not a car dealer, auto auctions, to me, are like a little slice of heaven.
    armadamaster :
    October 25th, 2009 at 5:57 am

    Sounds like a typical auctioneer/house buttf**king to me, next time you’ll know to bring the lube.

    Last one I went to was a neighboring county surplus auction. I get there an hour before to view and register for the sale, There are nine auctioneer’s employees standing around jaw-jacking and ONE doing any registering. After waiting in line for 45 mins of my hour I get registered and they allow me in only to find out what I wanted was pulled and everything else was junk. By now, it’s almost time for the auction to start, and they’ve finally decided that maybe it be a good idea to open the other four windows up and register some people. I have to get back in line to get my credit card back since the sole attendant decided to circle jerk me about my bank letter of credit even though I have bought from this auctioneer on more than one occasion. So back through the line I wait, only the auctioneer get on the horn and say “I’m sorry folks, we’re supposed to be starting, but some folks decided to show up late and now we gotta wait on them to get around to getting registered”. Umm…no jerkwad, you and your staff spent an hour bumping your gums instead of YOUR JOBS and now here we are.

    Typical auctioneer crap. And that’s one sob story of many I could share and I’m not even a dealer.

    There hasn’t been any deals in Texas at auctions for awhile, for Texans anyway. Texas auction prices have been the same or higher than our retail prices on the stuff, and I personally like hear and see one run before I slap thousands of dollars on the hood versus site unseen over the interwebz.
    jacad :
    October 25th, 2009 at 6:18 am

    Let me give you a different perspective. If you are buying that many cars, quit taking the shortcut of giving a third party a buck-fifteen to do your job and take someone with you who has your best interests at mind. I passed 20,000 units a long time ago and learned the mechanic and second set of eyes I own was invaluable.
    Micheal Blue :
    October 25th, 2009 at 9:06 am

    It’s written well, and it’s an interesting peek into car auction stuff. Personally, I couldn’t do this auction stuff. Did you see the Top Gear episode where they got 3000 pounds each and were sent to a car auction to buy antique cars? That would be my experience, I guess…
    Commando :
    October 25th, 2009 at 10:33 am

    Memo to J. C. Wolfe:
    Stick to buying low and selling high. Just don’t write about it.
    volvo :
    October 25th, 2009 at 12:25 pm

    lahru said:

    You know I’m very tired of people are not involved daily in the car business maligning and insulting those of us who do. You guys walk in the showroom, piss on my leg and expect a great deal, yeah likes thats gonna happen!

    I am not in the car business but let me give one example.

    2007 Honda Accord V6.

    37500 miles 3/09 Computer gizmo says service. I look in Manual and it calls for Oil Change, Tire rotation. I ask for those services and they are performed plus a general inspection for $29.99.

    45000 miles 9/09 Computer gizmo says service and I look in Manual and it calls for Oil Change and tire rotation. I tell the service advisor (same person as before) car needs 45000 mile service. Price for oil change and tire rotation is $152.

    When I ask why the price difference and what I need to do to get the previous price the service advisor said that if I ordered “al a carte” the price would be $29.99 for the two items and they always do the general inspection. However if he inputs the 45000 service to the computer system the price will be $152 for the same service.

    So the detailed lesson is when the “mileage minder” says service code X do not ask for that service and do not ask for service based on mileage. Go to the source (Manual for Honda and Web site for Toyota) and ask specifically for the items listed.

    The instant lesson is look hard for a good independent mechanic and only use the dealership when needed (ie. warranty work and buying a new car).

    Where does that leave the average owner who naively presumes the dealership is on their side or at least neutral?

    IMO car dealers have worked overtime to earn all the love thrown their way.
    turbosaab :
    October 25th, 2009 at 2:20 pm

    Made sense to me, can’t imagine where people are getting lost on this one?

    Sounds like you are getting jacked around… “we called you yesterday” BS. Phone records will show they didn’t call.

  2. Fish Oil : said, on October 29, 2010 at 2:20 PM

    oil change should be done depending on the characteristic of the machine”`.

  3. Shaving Brushes said, on November 17, 2010 at 10:37 PM

    oil change needs to be done as often as possible to maintain the good performance of any kind of machinery ..,


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