#SellingCars
The Warren Buffet Way To Buy And Sell Cars
The august founder of TTAC, Robert Farago, asked me to shop around for a Lexus IS F nearly seven years ago.
Those were bad old days. The “Fall of 2008” was a brutal, hopeless, and downright dire time in the American retail car market. Nobody was buying $50,000+ sports cars like this Lexus, and the few that could afford to were too busy watching their stock values sink like stones and their home values dive straight into the ass end of a 20 year time warp.
Hammer Time: The $700 Repo
My brother-in-law’s 1997 Honda Civic took a vacation recently, and it only cost me about $700.
Hammer Time: Trading Cards, Tradin' Cars
Rookies. All-stars. Hall of Famers.
Those were the only three types of baseball cards that I thought were worth the trade when I was a kid. I was eight years old, but that didn’t stop me from becoming diligently schooled by my three older brothers who knew the ropes of other similar hobbies such as comics, coins, and stamps.
The drill was simple. Every time someone wanted to trade cards with me, I would ask them one simple question.
“What’s your favorite team?” From there, I would bring out an album loaded with baseball cards. Every one in mint condition and encased in plastic sheets. “Pick your favorites!” They would gather their own, and I would go through their collection, find the fresher cards in mint condition, and gather mine.
Over 30 years later I do the exact same thing with cars. I sell based on interest and buy based on condition and long-term reliability. I’m still not loyal to any brand or model these days. For me, even after all these years, the opportunity to buy and sell any car comes down to three simple concepts I learned in my youth.
Condition, presentation, and price.
Hammer Time: Morning Calls
Morning phone rings at the car lot…
Me: Hello?
Random Stranger: Hi there, like, I have this friend you know and he told me that you finance vehicles, and his name is Emmanuel and aahhh, like I was wondering, well, uh, do you have any Toyotas and like, do you, ummm… finance vehicles you know?
Me: I’m sorry. Who is this?
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