Warning people here shopping for cars. There have been cases of scammers taking on the business name of long-established dealers that are either very small. or have gone out of business but still have Yelp reviews up. Happened in Colorado, and now in Indy.


They use the name, address, logos, make a website, everything. I was going to buy a 2007 twin turbo but something stinks. They said $54k delivered. Pictures and description didn't match vinanalytics. Name of dealer El Vochito

http://elvochitoautos.com/176662/2007-Porsche-911-Turbo

All the cars are too cheap http://elvochitoautos.com/inventory

 

Not so sure about that. I just went with a buddy to Velocity Motors that bought this Wrath today. The economy is fine and the market correction is a good thing.

https://www.velocitymc.com/vehicle-d...8964154fa52bc5

 

Hmmm...I am currently sitting in a graduate-level class taught by a current Executive VP at the Fed and that is not the message I am getting. "this is a very good time to take this course.....lots of stuff happening, most of it not good but it will be a fun ride!"

"Economy is fine" doesn't match what is going on in the fixed income market and the oil market right now. Props for being optimistic though; just don't be one of those suckers that followed Trump/Kudlow's advice and were the dumb money buyers in a declining market over the past 2 weeks. Those guys were probably selling like everyone else.

 

Yep, Fed Ex has its own set of struggles so I pretty much know exactly what he would be saying, but I also know the reasons behind what he is saying. Father was chief pilot and Director of flight operations and brother high up there now. Father retired, but still close to the players and I have been hearing about Fed Ex woes and concerns for over a year now.

If virus does not take every one out and shut down businesses for a decent period of time, we will be alright. If not, might as well go out and purchase your dream cars, blow your money and enjoy it while it last!

I am good either way. Some of my businesses actually do better when the economy sucks. If everything tanks, perhaps then I could afford this Pagani, but I am seriously considering this Performante.

 

Would you rather be one of those people who has been planning or hoping for a recession for the past 3 yrs (due to ideological biases) sitting on the sideline, and missing all this, since Dow 18k?

 

Nobody needs to root for a downturn: if assets are overvalued, corrections happen. Unfortunately, if debt structures are out of whack, things can go far beyond a correction. Guys I know in PE are saying that deals are getting done at 6-7X EBITDA, twice what they should be; this feels very much like 2007. They are drooling over upcoming distressed assets and sitting on a mountain of cash. When Tesla was at $900, the firm would require $28B in FCFE to justify that share price. Toyota made roughly $24B in 2019 with net profit margins of $2700/car. Tesla lost $4/car. David Einhorn was not wrong, but as Keynes said, "the market can remain irrational longer than you can remain solvent". Money is made when assets are bought, not sold.

As far as cars go (the point of this thread), I would expect to see certain cars that deem to defy pricing logic return to earth. As someone else mentioned, Porsche and Rolex irrationality goes away in times of stress. See the Cayman GTS result on BAT yesterday.

 

There's real economic concerns as well. Here in Nashville, for example, 50,000 hotel reservations were cancelled. That's $50,000,000 in lost revenue (a conservative estimate assuming 1 visitor per reservation who spends $1,000 during their stay).
Self-quarantines, supply chains, school closings,etc. are going to have unpredictable economic effects.
That said....this presents big, new opportunities for those who see them.

 

and have cash available

 

True....or an investor. Just my uneducated anecdotal evidence assumption:
Now the stock market isn't a "sure thing" investors will be seeking non-traditional investments.

 

^^^ This was the scenario during the last crisis.

 

Makes me want to chase a GT4 RS, unfortunately it would require unloading my C2S

 

2006 Porsche 911 Carrera 4 AWD 80k miles, manual $29,997 https://www.cargurus.com/Cars/invent...ting=257001174

 

2010 manual cab

https://www.cars.com/vehicledetail/d...rctid=44261773

 

Good price if no paint work on the car and clean Carfax. Didn’t see a Vin so cannot run Carfax. Usually a bad sign when no Vin, but some private sellers are paranoid and just don’t know any better about Vins.

 

Nice deal on a 2009 Manual with 33k on the clock. Very basic silver / black, 18" wheels. I can't see the Carfax. $45,000

https://www.autotrader.com/cars-for-...ckType=listing