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Leasing an EV? Unearthing the Secrets of Car Dealerships and Racetracks
Leasing an EV? Unearthing the Secrets of Car Dealerships and Racetracks
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About this episode
Exploring the intricacies of leasing versus buying electric vehicles, this episode dives into the pros and cons of each option. The hosts discuss how leasing can provide access to new technology without long-term commitment, while buying offers full ownership and potential tax incentives. They also touch on the evolving landscape of EV technology and share insights from a recent Cadillac dealership visit. Additionally, the episode features a humorous take on car dealership practices and the racing calendar, making for an engaging listen.
Topics:
leasing vs buying
electric vehicles
car dealership practices
racing calendar
Cadillac technology
tax incentives
new technology
ownership benefits
Are you ready to embark on an intriguing journey through the thrilling world of car dealerships and racing circuits? Join us as we put the pedal to the metal and expose the underbelly of car sales, starting with Apple Autos’ quirky campaign warning consumers about getting “screwed”. We’ll take you on a wild ride through the complex maze of leasing versus buying an electric vehicle, shatter some myths about manufacturer suggested options (MSOs) and, hold your breath, debate whether a car with 0.7 miles is truly “new”.
Ever wondered about the innovative minds behind six-wheel Formula One cars and structural fuel tanks? Hold tight as we speed down memory lane with Terrell Racing, tracing their evolution through to Braun, Mercedes, and Matro.
In our feature segment, we visit Jeff's Garage and hear some ideas about leasing an EV ... things that make ya' go hmmmm.
Buckle up as we take a detour to the racing action from NHRA's race weekend at Pomona, Martinsville Raceway, NASCAR's races at Homestead and Phoenix. We'll also fire up debates about the broadcast of drag racing on delayed networks and the idea of shorter NASCAR races. Say goodbye to your rearview mirrors as we leave you with the nostalgia of the now-closed Riverside Raceway. Tune in for the ride of your life, and remember, only the fast survive!
Be sure to subscribe for more In Wheel Time Car Talk!
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Welcome to another in wheel time podcast, a 30 minute mini version of the in wheel time car show that airs live every Saturday morning 8 to 11 am Central.
And then down.
This is the button.
Well, a good Saturday morning to you and welcome to the in wheel time car talk show coming up.
We're gonna talk about a Christmas gift for the reading racer.
All right, I dreamt that up.
I thought that was pretty good.
Jeff has a segment on leasing versus buying an electric vehicle, conrad has the racing calendar and car clinic and later we have the stories making automotive news headlines this week.
It's all just ahead on the in wheel time car talk show.
Howdy along with Mike out of this world, mars kink Conrad along.
We always need more.
Jeff Zekin, I'm Don Armstrong, glad that you could join us on this Saturday morning, the last day For daylight savings time.
Oh man, I'm not doing it.
Oh, we fall back tonight.
No, yes.
You spring tomorrow night, we fall back tonight.
Oh, actually.
Yeah, today is Saturday, I forgot, so I get an extra hour sleep.
Out brown water.
Did you have brown water last night?
More this morning on the way in.
Drinking, driving good, that's good, that's always good, okay, well, at any rate.
So we started off with a bang already.
We tested the system and everything was looking pretty good when I tested it until dawn until.
I something that's happened.
I don't, I don't know what, but I'll work on that while you guys carry on.
Mm-hmm, oh, we like carrying on.
There's no doubt about it.
Like that, we're also waiting for our first guest to join us via the Satellites and also in whatever interwebs.
Whatever the cup and string is this morning.
I know a young lady that could probably build us our own satellite.
Yes, yes at least launch it.
Well, no I do build it, she built them.
Oh really, oh yeah.
Yeah, katie's a Katie's in town this is my she is.
She's over at her mother's house and their wallpapering a room over there, cool.
But she was telling us that All of her preparation for the satellite that they're about to launch has been completed successfully and it's gone through testing and stuff, and that she is going to be going to France in March.
You think she could build us a stream deck too?
I bet you she could.
Mars, did you do something to this thing, yeah?
it worked earlier.
It worked 20 minutes ago I know, and I don't understand why it's not working now.
But for some reason it's not.
It's not, we don't, I don't know.
Well, it's that's gonna be a problem.
Yeah, it is.
So I don't know what the problem is you'll have to sing the loopy tortilla song.
We're the tacos of Loma Linda.
We sing of great Mexico.
Oh no, that's the wrong place, that's not a business, never mind.
There once was a taco from Nantucket.
That's the wrong song.
Yeah, that was a limerick.
Oh, it's a limb translation there.
Yeah, so I don't know my music.
Yeah, well, we don't know anything actually of what's going on here with anything.
This is fun.
It's always fun.
So we're still waiting for that guest.
But in the meantime and in between time, I'm gonna start us off with a horror story.
Oh no, since you know, halloween was last week post Halloween there you go a.
New marketing campaign in Minnesota has a warning for consumers thinking of visiting a car dealership.
Quote Don't get screwed, end quote.
What's unusual is that the message is coming from a group of dealerships.
Apple autos, which has six stores near the Twin Cities, has launched ads on TV, radio, billboards and social media Proclaiming that it doesn't do any of the dumb quote dumb, unnecessary behavior in quote that people often think dealerships used to sell cars.
In the commercials, customers brag to friends and family that they didn't get screwed when buying their new vehicle.
It's nay on the screwing a.
An actor in one of the three spots says the ads promote the groups Seven-day money back guarantee and end with different musical renditions of the tagline Don't get screwed.
I Hmm, so um, I think that that's good and I think that that's good enough for us all to look that up.
It's probably odd, you too.
Well, who did them?
Who did?
The music Don't get screwed.
Well, don't do it here, because we'll get sued.
Yeah, that's exactly right, don't get screwed or sued, yeah we'll happen before we.
Yes, it has to even rush.
I'll turn us in.
Yeah, so no dweebs from Russia turning us in because we're not going to play the darn thing.
Well, any rate, auto nation started that three day a hundred mile return back in the day, Yep.
All's will be able to get 30 days and 500 miles.
Yeah, this is yeah, some time and mileage commitment.
So what happens with those cars after they get you know a hundred miles on them?
Can you still sell them as new?
Nope.
MSO has already been closed on it but on a pre-owned.
What's the MSO?
So, the manager, my manufacturer manufacturer suggested options or some no it's, it's, it's the.
I'm a new car document.
I don't remember what that was.
But you could.
So let me understand this.
So I could go to a dealership and the car has, you know, 0.7
miles on it.
That's not even one mile and it's still considered new, Mm-hmm.
But if it goes to 10 miles, then it's not considered new any longer.
No, it just depends on whether or not the MSO has been closed on it.
Well, what closes an MSO, whatever the MSO stands?
for they report it to the manufacturer as a sold unit, but it can also be sold as a demo.
Well, demos are different, because demos are reported to the manufacturers, demonstrators.
What happens if a customer gets bailed because there's a lot of bailments?
Hey, drive it for the weekend, come back and buy it on Monday.
Oh, the puppy dog clothes.
Well, no, that's the, that's a bailment.
Well, what, what, what, what, Okay, yeah, I'm sorry, I don't know the lingo here.
Bailment is dog thing.
Well, that's well puppy dog clothes is is you know?
it's kind of like give a child a puppy and they're going to fall in love with it.
Give a, give a customer a car for the weekend.
High probability is they're going to fall in love with it and want it, and then you get a chance to put them together and sell it.
They're not going to want to give it up.
But a bailment is only good for, I think, a total of 72 hours.
Well, that's the legal yeah the legal.
We used to do that all the time.
But a lot of people don't do it the legal way.
They just puppy dog them.
But in the industry that's what it's called, but so far as the alternation side, they were already used vehicles anyways Back in the day.
Well, yeah.
So you could resell the vehicle.
But on the new side with like Oldsmobile, with their money back guarantee the car would come back and it would be sold as a used car through their used car program and those that didn't want the car.
you'd have to retain or keep their trade in if they had one Right.
Yeah, they didn't get their money.
It wasn't a money back guarantee.
Right, right.
They could roll it into another car, a different car vehicle.
It didn't happen very often, no.
No, so is that the end of your story?
Obviously the questions.
Yeah, the end of the questions, because the story ended a long time ago.
But there's different ways for dealers to turn you upside down and shake all the money out of your pockets.
You know, different dealers get caught with all of these documentation fees.
You know, oh, it's $300 for the title fee.
You know, it's $150 for documentation there's.
You know, some of them will charge you for a travel fee and the travel fee is because the the title clerk has to drive to the title office to file all the title documents.
Hey, there we go Along with 400 other Don fixed it.
He turned something on Along with 400 other documents, plugged it in.
Unplugged it.
This is the Mars wire that had plugged in that HDMI wire that killed the audio, but now we got it.
Is that for the?
board too, then that's interesting.
That's the one for the board.
Okay, well, we don't need to release it, but we know now we're going to show our dirty laundry here.
No thanks, Don.
We appreciate that.
Well, you especially, oh yeah.
You were going to get up and dance a few minutes ago.
We're glad you didn't do that either.
Exactly, all right, so we were supposed to have a guess that Mr Mars had confirmed yesterday and spoke to him from the British Isles Mary, old England.
The book was called the Story of the Terrell Racing Organization by Richard Jenkins, forward by Sir Jackie Stewart, by the way.
I saw him on the pregame show, if you will, from Circuit of the Americas in the Formula One race.
I saw him there.
Cool story about him.
I did not realize he struggled educationally as much as he did I told you that last night at dinner because the way I brought it up, they have these pit reporters on F1 and they're going in there doing all their pit reporting.
Which is actually kind of cool it is.
But Jackie Stewart, I'm the pit report, jackie Stewart standing here and the guys oh, who do we get next?
And why don't you talk to Jackie Stewart?
And I didn't know that he was dyslexic until his mid-40s, still is, still is.
But he was diagnosed because his son was undiagnosed dyslexic and they were treating his son and he figured out that.
And how much he struggled as a child.
Yeah.
How much?
he struggled as a young adult.
And where racing was kind of his way of resolving his outlet and stuff.
But you know, you got to think Jackie Stewart drove for Terrell Terrell.
You're not going to call it Terrell.
But they had some pretty famous drivers for Terrell, they had Stewart, they had Jackie X, jody Schechter, patrick DePallier, micaely Alberto, martin Brundle, who is one of the pit, reporters on F1.
Micasolo, john Olesi and the Terrell.
You know people will remember Terrell Terrell, I don't know.
They were the ones in Formula One.
They were very innovative.
They're always playing with new stuff.
They were the ones that produced the six wheel Formula.
One car.
Oh, I remember that thing.
With the four turning front tires and then the two big tires in the back, which eventually ended up getting outlawed.
They also did some stuff with fuel tanks that were a structural part of the vehicle that saved weight.
That ended up getting outlawed by F1 as well.
And then they got caught at one Grand Prix.
They were running some kind of water injection system and it was found out that the water injection system was like 85% what they called aromatics, so it was a burnable product.
And as they were, spraying aromatics and as they sprayed it into the engine.
It created fuel, so they ended up getting busted for that.
Well, I think some incense would have been fine at that time, don't you?
And then Terrell evolved into the Braun Racing team.
When Ross Braun bought the reigns of Terrell and then he won two championships with his, the team that he bought, and then that team evolved into what today is the Mercedes racing team.
So you know, from Terrell to Braun to Mercedes, and then somewhere in there was Matro, which is a French company as well.
So you know that the point I'm trying to make is that the interview could have been better.
I mean, he's walking around interviewing the guy that puts air in the tires and stuff.
Jackie got an icon right there and who's the?
Danica Patrick is part of all that.
Yeah, turn that TV off.
Yeah, she's not ripped the cord out, I cut it.
It's no more watching she's easy on the eyes, but she doesn't contribute anything to the broad.
I don't think so either.
Oh no, yeah, I don't think she brings the knowledge.
You know, yeah, she's a driver and she was my opinion.
She was a successful driver, not outrageously successful, but she was successful for a bit.
But I never thought that she, when I've watched her on the shows and she's done more than just Cody, she's- done a couple other shows.
She's done some NASCAR stuff.
You know, I don't think she brings much knowledge to the show.
You know, Michael Waldrop, though he's a goober, he actually brings a lot of knowledge to the show and a lot of fun, and as do some of the other NASCAR guys.
You know, Martin Brundle brings a lot to the F1 show.
I acknowledge His knowledge as a driver and his knowledge of the people, even though when he does that not the pit walk, the grid walk he's grabbing people to talk to him and some of them just turn their back on him and walk away, go away.
It's like who are?
you, I wouldn't recognize the guy.
Would I recognize him?
I'd recognize.
Don Garlets, but I wouldn't recognize Mr Brundle.
I recognize the name.
His grid walks, I think, are kind of fun to watch.
They are.
He ended up.
Who was it?
Serena Williams.
That's right, yes, he ended up almost in trouble over his attempt to talk to Serena Williams because her bodyguard kind of peeled him off.
Really.
Oh yeah, I didn't see that it was bad.
I think that was it.
Because the bodyguard didn't know who he was.
And he's a bodyguard, and he's just showing up with a microphone trying to ask her questions and she wasn't interested in answering any.
And he's walked up to some music stars.
That kind of the same thing happened as well.
They have no idea who he is and they're not interested in talking to him, but he brings a lot of knowledge to the show.
I've discovered that Mars is like a 16-year-old with a cell phone he is stuck, glued and inside he's working on the guess I know he is, but I just had to call him out, if you get a hold of Prince Charles.
he might Did you know that here we go.
There's only five hours difference between here and England.
Not six.
Well, with daylight savings, now it's going to be what?
Four I'm not sure.
Did you explain to the guest from England that we're here in the United States on central daylight time?
He's traveling and I'm thinking that's where we got messed up, because he went to a different time zone, I think anyway.
I'm gonna try rescheduling whenever we can get our time straight from Synchronizer watch is.
There's not enough time now to know it's not no, because we have to.
We're gonna take a little break right now.
Well, Terrell had quite a bit of funding from Ford, and then there was a period of time when they were running the mantra of the 12 engine.
Okay, from Chrysler, here we go, yeah, anything else.
No, that's fine.
Okay, hey, if you'd like to get in touch with a, shoot us an email.
The address here is info at in wheel time Dot-com.
We've got more of the in-wheel time car talk show coming up right after this quick break.
Tail pipes and tacos is back.
It's been a while, but the popular tail pipes and tacos cruise in returns to the loopy tortilla Tex-Max in Katie and it's an extra special one.
Bring your hot rod classic or modern classic to compete for one of the famous chili pepper trophies and get a free breakfast taco.
Just make a donation of any size to God's garage and loopies will match it.
You'll be helping single mothers who need a set of wheels.
It's been almost a year in the making, so you won't want to miss tail pipes and tacos.
Saturday, november 11th, 8 to 11 am.
Cruise in, donate what you want to God's garage and grab a free loopy tortilla breakfast taco.
Tailpipes and tacos only happens at the loopy tortilla Tex-Max in Katie at 703 West Grand Parkway at Kingsland Boulevard, just south of the Katie freeway.
It's car show season and what better way to kick it off than a free taco and camaraderie at tailpipes and tacos.
Saturday, november 11th, 8 to 11 am.
The in-wheel time car talk show will be there to proceeds.
Benefit God's garage, weather permitting.
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Rogers Dabs and GM performance and welcome back to the in-wheel time car talk show on this Saturday.
And a reminder you heard the commercial there that we're going to be scheduled at the tailpipes and tacos event for the first time in 11 months, out at the loopy tortilla in Katie next week, next Saturday morning from 8 to 11.
Well, be there.
Yes, be there.
Plan on being there.
Now we're hearing that there may be a weather issue, and so All right time now for the in-wheel time race.
Card.
Conrad, you got to sit up.
This segment sponsored by Texas nostalgia modified production, have at well, next weekend is the finals in Pomona For NHRA, so gonna be a big weekend.
A couple of or actually all three of, the pro Categories are still kind of up for grabs.
I think the pro stock bike is kind of that's done.
I think Guerrero has finally settled that out.
Erica is 114 points up in first place in pro stock and I think the math is if she makes it to the semifinals she wins the championship for a sixth time.
But at 114 I think Pomona is also double points as why she's got to get to the semifinals.
Next weekend is also Martinsville Raceway and for NASCAR, tonight or tomorrow is there at homestead, and then Phoenix.
The finale is November 5th.
Formula one is at Mexico City Next weekend and then they are in Brazil on 11-5 and they are in Las Vegas on 11-19.
Well, I thought Mexico formula was last weekend.
It was the 29th.
Okay, my fault.
Yep, I'm reading my notes from last week, and then I think as editing as he goes.
Because he didn't do his homework.
Yeah, I did so, and the racing season is primarily coming to the class always.
My dog ate it.
Dog ate Susie ate it.
No, susie doesn't eat paper, no cheese, everything else.
By the way, speaking of television coverage, which we weren't doing but we're going to now, I was really ticked off with the Houston Astros coverage that was on a network that I don't have.
Why is it not on regular broadcast television, at least locally on some station?
Why it?
was?
It was on Fox broadcast Paper view.
No, no, it was a.
FS1 and regular see, that's not no, no, but they were also on regular Fox.
Fox broadcast some on FS1, but also we couldn't see most of it.
Well, we can tell you that, and it ticked me off, which one leads me into the whole thing with drag racing, because all of a sudden, all on FS1, all of FS1 and it's delayed.
So here's, yeah, delayed, and I.
The other thing that I just don't understand is they want ratings, okay.
So why wouldn't you, in your negotiation with whatever network, it is that you have these many Broadcasts that are going to be to the public and when you get to the end of the season, you just hang on, when you get to the end of the season, especially?
So what they did was the network used drag racing to fill time on the network when there wasn't anything really going on, and now that it's coming down to the crunch, oh, you can't watch.
You got to either go to NHRA comm and pay to watch it, or you have to go to FS1, pay to watch it, or Disney plus or whatever you're on.
No, that's not the way to do, or you go to a bar and you watch it and then you got a drink.
Yes, sir.
So the way it worked, it's money.
Then ready.
There's also discussion, but they go hand in hand.
but one money's priority themselves by doing it that way but if you make enough money, there's popular like us money's they're driving for popularity in F1 because of you know things happening.
They're changing different stuff.
They're going to look into making NASCAR races shorter and they're thinking that will bring back more viewers.
That one thing, I think quarter mile straight run ought to be enough.
I'm not a.
NASCAR there you go.
I think that's a great idea.
It'd be like the Daytona 100 or something Rolling start come out of that turn no there's no rolling start.
Just put a different gear set in it, put it up there with the Christmas tree and let them go.
They got slicks there.
Yeah, exactly, and they steer real good.
Left got plenty of room to slow down.
Some left, so okay not all.
So you can put a bend in that quarter quarter mile extra.
I Back in the day I was never a big fan of Riverside.
Now, looking back on it, gosh, I wish Riverside were back.
Why the landscaping?
Which was not.
It was a track that was built out there in the basically the desert of California, of course.
Now it's a neighborhood, but but Sonoma is basically the same thing.
There's you know, yeah, but you've got rolling it.
It's different Sonoma, but but anyway, time now.
The um.
You know we talked about what's.
Shut down.
Some of the guys went up to Lufkin to pine tree or not pine tree, pine Valley, whatever it is.
Nhra is going to make a stop in one of the regional events in Lufkin next year.
I'm writing but it will not be the pros now, but I didn't say who it.
It was time now for Jeffery's feature of the week.
Finally, leasing versus buying an electric vehicle, that's right leasing versus versus buying first yeah, there's a lot of takeaways to this, and if now you got to write this down, you got to get your pro and con chart out in front of you.
Leasing an EV mic gives you access to new technology more frequently.
Also with leasing, well, buying means that the EV you won't face mileage limits and the wear and tear of the fees.
With both of these, leasing and buying Gives you access to tax credits, conrad, who doesn't like those?
The world of electric vehicles is still in its infancy and the vehicles increased 50% since 2022 because of the new one's.
Well, they well know that the percentage of people buying has increased About 50%.
All right, so signing off on long-term ownership of a vehicle, seemingly to a new market, is kind of risky, especially when you don't know how much the parts are going to be, the maintenance it's this going to happen and the actual age of the vehicle.
When do you have to turn it in?
So Well, buying an EV is best for some drivers ready to commit.
It's not for everyone.
Leasing an electric vehicle may be beneficial, conrad, if you want to try out, maybe a hybrid rather than any V.
If you drive frequently and do not have access to charging stations in your area.
Leasing may be a good way to go test the waters without a commitment of long-term sort of like marriage, mike and there are other benefits.
To leasing versus buying.
This should also play a role in your decision when it comes to making a decision on any hybrid.
So write this down, mike pros of leasing and EV you get vehicle warranty, you get a lower monthly payment, you get the newest tech features around.
And I'm gonna tell a quick story after this about Cadillac.
The cons, mike, to leasing and EV is no equity.
You have difficulty to the end of your, your lease.
You've got you know.
If you can't do it early, then don't do it.
But that no equity and difficulty is standard for any lease right.
It is TV exactly, but that all plays into it.
It doesn't matter what an EV is or a tractor.
Vehicle restrictions you have certain restrictions on that as well.
Now buying an electric vehicle, the pros of buying you have full ownership, which we all have, no vehicle restrictions and tax incentives and credits so that all comes into play as well.
The cons to buying an EV Expensive upfront cost, rapidly changing technology.
You get downloads all the time, potentially steep depreciation values or non value.
It should be so.
That's a Part of it as well.
The bottom line is the best approach to leasing or buying an EV is the same for anything shop Do your homework, for a conventional vehicle or for an EV.
For some, the benefits of the newest available technology is the way to go Well, others, getting behind the wheel of a vehicle with the confidence and incentives to make more sense of ownership.
So do your homework.
There's also for EV's.
There's also what they call green loans.
If you have an EV, that give you different rates for a green vehicle.
Now I was at the Cadillac dealership.
I was at Bayway this past week doing some other things and I talked to one of the service writers about.
I said that that lyric is gorgeous, man, I want one, I want two of them.
He goes.
No, you don't, he goes.
There's an update, like every other day downloading.
There's always some kind of failure of this technology and that thing.
Because you don't want that, so sorry, cadillac, I had to put that out there A little early.
Yeah, hey, the In-Wheel Time Cart talk show is available 24 seven through the iHeart radio app.
All you have to do is look for In-Wheel Time Cart Talk.
We also video stream on Facebook, youtube and In-WheelTimecom and we are live on In-WheelTimecom Podcasts at your fingertips, and over a dozen of the most popular podcast outlets.
The In-Wheel Time Cart Talk Show continues right after this quick break.
Hey, houston, america's greatest hot rod tradition is back Thanksgiving weekend, the O'Reilly Auto Parts Auto-Rot At the George R Brown Convention Center.
Four action packed days of hot rods, customs classics trucks and performance cars.
The Ultimate Low Rider.
Showcase Sponsored by Shorties Hydraulics, see Lone Star Throwdowns, texas-sized Truck Spread.
And don't miss the traditional rod and custom section.
Friday, saturday and Sunday see wild, high flying freestyle motocross stunt shows.
Shop the Swat Meat and Women's World all weekend on the Celebrity Stage Presented by Nick's Auto Repair and Classic Car Restoration.
Friday, meet AEW Tag Team Superstars to Looja Bros.
Saturday it's Noel G Hector from the Fast and Furious.
Sunday it's Lou Ferrigno, the original, incredible Hulk.
The O'Reilly Auto Parts Auto-Rot.
November 23rd through 26th at the George R Brown Convention Center.
Discount tickets at O'Reilly Auto Parts, part of the Summer Racing Equipment Show Car Series.
See auto-romacom for more info.
Houston's finest cars are invited to another Gulf Coast Auto Shield Car Social Saturday, december 2nd, and you're invited too.
Show off your personal pride and joy or just stop in to see the likes of Lucid Lamborghini, porsche, ferrari and more.
Gulf Coast Auto Shield is your one-stop shop for paint detailing, coatings, window tint, clear bras and wheel repair.
The Car Social is your opportunity to get a tour of this state-of-the-art facility Located at 11275 South Sam Houston Parkway, just south of the Southwest Freeway.
It all takes place Saturday, december 2nd, 9 to noon.
This is the perfect opportunity to connect with other car enthusiasts, from BMWs to mentallys, corvettes to McLarens.
The Car Social is a different kind of show Talk to the owners.
See Gulf Coast Auto Shield's facility.
You'll be amazed.
Put it on your calendar now.
The Gulf Coast Auto Shield Car Social Saturday, december 2nd, 9 to noon at 11275 South Sam Houston Parkway, just south of the Southwest Freeway.
The In Real Time Car Talk Show will be there too.
We'll see you then.
That's it for this podcast episode of the In Real Time Car Show.
I'm Don Armstrong Inviting you to join us for our live show every Saturday morning, 8 to 11 am, central on Facebook, YouTube, twitch and our InRealTimecom website.
Podcasts are available on Apple Podcasts.
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