Doug and Tyler dive into the complexities of car ownership, discussing Doug's recent experiences with dealership challenges and the frustrations of cash flow in the car business. They explore the impact of rising car values on enthusiasts, warning that while appreciating values can seem positive, it may discourage people from driving their cars due to fear of depreciation. The episode also touches on notable car scams, the importance of due diligence when buying, and the evolving landscape of cars as an asset class.
Doug needs to vent about the "joys" of business ownership. Plus well discuss the real risks and real downsides of collector cars going up in value at an astronomical rate.
"...took out my Honda S2000 at Nelson Ledges, I'm in the passenger seat,..."
The Honda S2000 is a small sports car that seats two people. It's famous for being fun to drive and has a powerful engine that can rev very high, making it popular with car lovers.
The Honda S2000 is a two-seat roadster known for its high-revving engine and precise handling. It was produced from 1999 to 2009 and has become a favorite among driving enthusiasts for its performance and lightweight design.
"...it was on mismatched tires, which I knew about,..."
Mismatched tires mean that the tires on a car are different from each other, like having one type of tire on the front and another on the back. This can make the car harder to control, especially when driving fast.
Mismatched tires refer to a situation where the tires on a vehicle are not the same type or brand, which can adversely affect handling, traction, and overall vehicle performance. This can be particularly dangerous in high-performance driving situations.
"We cooked a brake caliper at Audubon and then had to drive it back and we ended up changing the caliper or not changing it, just unseizing it..."
The brake caliper is a part of the car's braking system. It helps squeeze the brake pads against the wheels to stop the car when you press the brake pedal.
A brake caliper is a crucial component of a disc brake system that houses the brake pads and pistons. It applies pressure to the brake pads, which in turn clamp down on the brake rotor to slow or stop the vehicle.
"I had a Lotus Exige Cup car in the trailer behind our tow vehicle..."
The Lotus Exige Cup is a special version of the Lotus Exige sports car. It's built for racing and has features that make it faster and more fun to drive on a track.
The Lotus Exige Cup is a high-performance variant of the Lotus Exige, designed for track use with enhanced aerodynamics, lightweight construction, and powerful engines. It's known for its agility and driving dynamics.
"I did a lot of track days with that car, and yeah, first lap..."
Track days are special events where people can drive their cars on a racetrack, allowing them to go fast and enjoy their cars safely.
Track days are events where car enthusiasts can take their vehicles to a racetrack to drive at high speeds in a controlled environment, often improving their driving skills and testing their cars' performance.
Cold tires are tires that haven't warmed up yet. They don't grip the road as well when they're cold, which can make driving tricky at first.
Cold tires refer to tires that have not yet reached their optimal operating temperature, which can affect grip and handling, especially during the first laps of driving.
"...Do you have the VIN for that? Oh, yes. I would love to know where it is."
A VIN is a special number that helps identify a specific car. It's like a social security number for vehicles, showing details about where and when it was made.
VIN stands for Vehicle Identification Number, a unique code assigned to every motor vehicle when it's manufactured. It serves as a fingerprint for the vehicle, providing information about its make, model, year, and place of manufacture.
"...ur personal luxury vehicle, Shaughnessy Overland Express delivers with precision, privacy, and respect. T..."
The Chevrolet Express is a big van that can carry a lot of people or cargo. It's often used by businesses and families because it has plenty of space inside.
The Chevrolet Express is a full-size van that has been in production since 1996, primarily used for commercial purposes and passenger transport. It is valued for its spacious interior and versatility, making it a popular choice for businesses and families alike.
"...our technical advisor, Dan Doucet. He's been shopping for an Aston Martin V8 Vantage Coop six speed manual in a not vanilla spec."
The Aston Martin V8 Vantage is a fancy sports car with a strong engine. It comes in a version that you can drive with a manual stick shift, which many car lovers enjoy because it makes driving more fun.
The Aston Martin V8 Vantage is a luxury sports car known for its powerful V8 engine and elegant design. It offers a thrilling driving experience, especially in the six-speed manual variant, which is favored by enthusiasts for its engaging performance.
"And I don't think it's titled in his name because he's in South Carolina and the last title was in North Carolina."
A title is a document that proves who owns a car. It's important for buying and selling vehicles, as it shows who is legally responsible for the car.
The title of a vehicle is a legal document that establishes ownership. It includes important information such as the owner's name and the vehicle's VIN.
"...it hit the rear bumper pretty hard. Maybe the subframe like underneath it."
The rear bumper is the part of the car at the back that helps protect it in case of a crash. If it's damaged, it might need to be fixed or replaced.
The rear bumper is a protective component located at the back of a vehicle, designed to absorb impact during collisions and protect the car's structure and occupants. Damage to the rear bumper can indicate the severity of an accident and may require replacement or repair.
"...because it like tail lights were fine. Decklid was fine."
Tail lights are the red lights at the back of the car that help other drivers see when you're stopping or turning. If they're fine, it means they're working properly.
Tail lights are the red lights located at the rear of a vehicle that illuminate when the vehicle is in operation. They signal to other drivers when the vehicle is braking or turning, and they are essential for safety, especially at night or in low visibility conditions.
"...Decklid was fine. Rear fenders were untouched."
The decklid is the part of the car that covers the trunk. If it's fine, it means the trunk is still working well and looks good.
The decklid is the hinged cover that rests over the trunk of a vehicle. It provides access to the trunk space and helps protect the contents inside. Damage to the decklid can affect the trunk's functionality and aesthetics.
"...Rear fenders were untouched. So it didn't bend the car."
Rear fenders are the parts on the sides of the back of the car that cover the wheels. If they're untouched, it means they weren't damaged in the accident.
Rear fenders are the panels located on the sides of the vehicle, covering the rear wheels. They help protect the car from debris and provide a finished look. Damage to the fenders can affect the vehicle's appearance and may lead to rust or other issues if not repaired.
"...going up in value at an astronomical rate, which they are in certain small segments. I want to be careful and not go back on what I've said, which is cars are not good investments."
Collector cars are special cars that people like to buy and keep because they are rare or have a lot of history. Some people think these cars can be worth a lot of money later on.
Collector cars are vehicles that are valued for their rarity, historical significance, or unique features, often sought after by enthusiasts and collectors. Their value can appreciate significantly over time, especially in niche markets.
"...I don't want to burst anyone's bubble here metaphorically, or literally, I don't want to burst the bubble of their car appreciation."
Car appreciation means that a car can become more valuable as time goes on. Some cars are worth more later, but many cars lose value instead.
Car appreciation refers to the increase in value of a vehicle over time, often influenced by factors such as rarity, demand, and market trends. While some cars can appreciate significantly, many do not hold their value well.
"Like even in the GT3 community, everybody's like, yeah, you know, these values are going to be over 200k cars in one day, and I'm like, sure, but is that a good thing?"
GT3 is a special version of the Porsche 911 that is built for speed and performance. It's known for being very fast and fun to drive, especially on racetracks.
The GT3 is a high-performance variant of the Porsche 911, designed for both track and street use. It features a naturally aspirated engine, lightweight construction, and advanced aerodynamics, making it a favorite among driving enthusiasts.
"The theory of today's discussion is cars as an asset class slash investment destroy our ability to drive them because the gap between a clean title or clean history car and a bad one has increased..."
Thinking of cars as an asset class means seeing them as things that can increase in value, like a piece of art or a house. People might buy certain cars hoping they will be worth more money later.
The idea of cars as an asset class refers to viewing vehicles not just as modes of transportation but as investments that can appreciate in value over time. This perspective can influence how people buy, sell, and maintain their cars.
"if I get damage, even if it's fixed right, it will cost me so much in diminished value that I cannot take my original car out..."
Diminished value means that if a car gets damaged and then fixed, it might be worth less money than it was before the damage, even if it looks good again.
Diminished value refers to the reduction in a vehicle's market value after it has been damaged and repaired. Even if the repairs are done correctly, the car is often considered less desirable due to its history of damage.
"I want to look at a couple specifics for GT and Diablo 6.0."
The Ford GT is a fast and stylish sports car made by Ford. It's known for being really powerful and looks similar to older race cars.
The Ford GT is a high-performance sports car produced by Ford, known for its striking design and powerful engine. It was inspired by the classic GT40 race cars and is celebrated for its performance and engineering.
"...For some context, is this a high mileage for one of these? Because I see that, and I think that's..."
High mileage means the car has been driven a lot, usually more than 100,000 miles. This can make it less valuable to collectors because it may have more wear and tear.
High mileage typically refers to a vehicle that has been driven a significant distance, often over 100,000 miles. In the collector car market, high mileage can affect a car's value and desirability.
"...as subjected to the same phenomenon that Plymouth Prowlers and Dale Earnhardt edition Monte Carlo's were th..."
The Plymouth Prowler is a unique-looking sports car that was made in the late 1990s. It stands out because of its cool design that looks like an old-fashioned hot rod.
The Plymouth Prowler is a retro-styled roadster produced from 1997 to 2002, known for its unique design that resembles classic hot rods. Although it had a limited production run, it has gained a cult following for its distinctive look and driving experience.
"supercar, it was subjected to the same phenomenon that Plymouth Prowlers and Dale Earnhardt edition Monte Carlo's were that so many people bought them and stuck them away. It's an American thing that we love our I Never Touch. I mean, it comes from the grandma's plastic couch thing."
The Chevrolet Monte Carlo is a stylish two-door car that was popular in America for many years. It’s known for being comfortable and has a racing history, making it a favorite among some car fans.
The Chevrolet Monte Carlo is a personal luxury coupe that was produced from 1970 to 2007, known for its blend of style and performance. It gained popularity for its association with NASCAR and has a nostalgic appeal among car enthusiasts.
"a bad car fax. There's even comments in this listing where people say that based on this low result..."
Carfax is a company that gives you a report about a car's history. If a car has a 'bad Carfax', it means there are problems in its past, like accidents, which might make people hesitant to buy it.
Carfax is a service that provides vehicle history reports, detailing past accidents, title issues, and other important information that can affect a car's value and safety. A 'bad Carfax' indicates that the vehicle has a history that may deter potential buyers.
"the car fax was due to minor damage, just the rear bumper."
Minor damage means the car had small problems that were easy to fix and didn't really hurt the car's safety or value. It's not a big deal compared to major damage.
Minor damage refers to small repairs that do not significantly affect the vehicle's overall structure or safety. In this context, it suggests that the damage was limited and not severe enough to impact the car's value drastically.
"...was due to minor damage, just the rear bumper. In Corvette and Porsche world like that, we don't even count..."
The Chevrolet Corvette is a fast sports car made in America that people love for its cool looks and powerful engine. It's often talked about because it's been around for a long time and is considered a classic.
The Chevrolet Corvette is a high-performance sports car that has been a symbol of American automotive engineering since its introduction in 1953. Known for its distinctive design and powerful V8 engine, the Corvette is often discussed in automotive circles for its racing pedigree and cultural significance.
"You can't put a paint meter on a plastic bumper, so nobody cares."
A paint meter is a device that checks how thick the paint is on a car. It can show if the car has been fixed or repainted after an accident. Here, it's mentioned that checking a plastic bumper isn't really necessary.
A paint meter is a tool used to measure the thickness of a vehicle's paint. It helps determine if a car has been repainted or repaired, which can indicate prior damage. In this case, the speaker suggests that damage to a plastic bumper is not significant enough to warrant concern.
"...modified interior with seat inserts, aftermarket wheels. This one happened to belong to Missy Elliott..."
Aftermarket wheels are wheels that you can buy separately from the car manufacturer. People often choose them to change the look of their car or to make it perform better, but they might not always be as safe or reliable as the original wheels.
Aftermarket wheels are wheels that are not made by the original manufacturer of the vehicle. They are often chosen for aesthetic reasons or to improve performance, but they may not always meet the same quality or safety standards as factory wheels.
"...any to ship her $300,000 at the time, Lamborghini Diablo, and a dispatcher for this company found where t..."
The Lamborghini Diablo is a very expensive and fast sports car from Italy that looks really cool. It's famous for its powerful engine and is often seen as a dream car for many people.
The Lamborghini Diablo is a supercar that was produced from 1990 to 2001, known for its striking design and powerful V12 engine. It represents the pinnacle of Italian automotive performance and is often discussed for its iconic status in the world of exotic cars.
"All right. Since we're talking about depreciation, but that goes into a bigger point though."
Depreciation is how much a car loses value as it gets older. It's important to know because it affects how much you can sell it for later.
Depreciation refers to the decrease in a vehicle's value over time, often due to wear and tear, age, and market demand. Understanding depreciation is crucial for buyers and sellers to make informed financial decisions.
"...3RS 3.8, which to me is crazy, like a Diablo or a 911. Yes. Stradales have I could have traded down to..."
The Porsche 911 is a famous sports car from Germany that has been loved by car enthusiasts for many years. It's known for being very fast and fun to drive, and many people consider it one of the best sports cars ever made.
The Porsche 911 is a legendary sports car that has been in production since 1964, known for its distinctive design and rear-engine layout. It is celebrated for its performance, handling, and has become an icon in the automotive world, often referenced in discussions about high-performance vehicles.
"Stradales have I could have traded down to a Stradale and got a couple hundred grand back a year ago..."
The Ferrari 360 Challenge Stradale is a special racing version of the regular Ferrari 360. It's lighter and faster, making it great for the track.
The Ferrari 360 Challenge Stradale is a lightweight, high-performance version of the 360 Modena, designed for track use. It features enhanced aerodynamics and a more powerful engine.
"...ly increased to the point of profitability is an XJ220. Because when I bought the Diablo, I would have h..."
The Jaguar XJ220 is a super-fast sports car that was made in the 1990s and was known for being one of the fastest cars at that time. It's a rare and special car that many car lovers admire.
The Jaguar XJ220 is a supercar that was produced in the early 1990s and was once the fastest production car in the world. It is notable for its sleek design and advanced technology, making it a significant model in Jaguar's history.
"That's a Porsche if you didn't know that. Seven-speed manual, 37,000 miles."
The 991 is a specific version of the Porsche 911 that was made between 2012 and 2019. It has some new features and improvements over earlier models.
The 991 is the internal designation for the Porsche 911 generation produced from 2012 to 2019. It features updated styling, improved technology, and enhanced performance compared to its predecessor.
"...a picture for everyone else. It is a 2003 Porsche Boxster S. So I want to say M96. No, it's a 986. Oh my G..."
The Porsche Boxster is a two-seater convertible sports car that is fun to drive and has a stylish design. It's a great option for people who want a sporty car without spending as much as they would on other Porsches.
The Porsche Boxster is a mid-engine roadster that was introduced in 1996, offering a more affordable entry point into the Porsche brand. It is known for its agile handling and convertible design, making it a popular choice for those seeking a sporty driving experience.
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