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There’s always something to howl about

The old luxury creme puff goes bye bye, frustration, and a sedan

It’s been a nearly 3 weeks since I sold my 99′ Cadillac V8 Luxury problematic SeVille!  The car looked great but like a blonde haired, blue eyed beauty looks can be deceiving.  I got a fair price for the Caddy and I was happy, until I went to the bank after I sold it to find out what slightly used car interest rates are going for.  My credit is good and I was getting quoted 17% +/-.  My problem was, I only wanted to borrow, $5,000 max for a used car, the rest I was going to pay for in cash.

I searched endlessly for a clean used car in South Florida, boy was the joke on me.  I would arrive at dealers who wanted between $600 to $1,000 dealer fees on top of the price of a car.  I then went looking at private sale cars to get away from the dealer fees.  I found one liar after another, I’m referring to the private party seller.  I had literally given up my car search in complete frustration of FEES, LIES, and INTEREST RATES.

My wife was going nuts explaining that we need two cars, so I begun my search again.  I found a nice little cream puff (the car).  It’s a 2005 Honda Civic which looks great, and my mechanic gave me the two thumbs to go ahead and buy the car.

So you might be thinking, how in the world, can I go from Leather seats and spacious to a typical compact car?  The answer is, I frankly don’t care what clients think of me pulling up in a Honda Civic versus a Cadillac.  I wasn’t about to pay outrageous dealer fees, I found  a half way decent and partially lying seller, and I paid cash for the car instead of off the chart interest rates; so that is exactly how I arrived at a 2005 Honda Civic.

You know what I also learned from this experience since it’s nearly been over 4 years since I bought a car.  Don’t charge hidden fees, Tell the truth, and charge a fair fee or commission.  What are your thoughts from previous real estate or car experiences?

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  • 1 comment

    1 Comment so far

    1. Rob Chipman June 30th, 2011 10:51 am

      Thanks for that info, Robert. 17%? All I can say is “wow”.

      Small gas efficient cheap cars are the sign of a smart guy. It’s a depreciating asset that you use as a tool. Let people know that if you have $40k to drop on a car you’ve also got the same $40 k to buy some real estate. Tell them you prefer real estate (bought wisely) over a depreciating asset, which is why you sell it.