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Used Vehicle Prices Plunge Signaling End Of Auto Party

Tyler Durden's picture





 

As channel-stuffing shifted from the US (here) to China (here) and Europe (here), so the new vehicle sales data has disconnected from a number of realities. Whether it is economic growth or Ford's share price, things look a little over-cooked in the land of if-we-build-it-the-government-will-buy-'em. However, there is one index that tends to see through all the unreality much more clearly than our analysis above, that is the Used Vehicle Price index. Each time this index has dropped and broken below its two-year average, the auto industry has tended to fade rapidly. After yesterday's comments on the lowering of collateral standards for subprime auto lending, it would appear we are setting up nicely for some whocouldanode moment in the manufacturing sector's most critical industry.

Each time Used Vehicle prices (black) have dropped plunged below their two-year average (red dots) signaling a slowing of momentum (which Bob Shiller noted yesterday was critical to major credit-driven purchases), so the auto industry (e.g. Annualized vehicle sales and Ford share price in the chart) has weakened notably...

 

 

(h/t Last Crusader)

 


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Wed, 08/08/2012 - 14:16 | Link to Comment q99x2
q99x2's picture

You can get a new car for less than a junker.

Wed, 08/08/2012 - 14:17 | Link to Comment malikai
malikai's picture

Cash for clunkers part deux?

Wed, 08/08/2012 - 14:30 | Link to Comment Hype Alert
Hype Alert's picture

Exactly, let's destroy some more assets with the Broken Window economic model. FTW

Wed, 08/08/2012 - 14:41 | Link to Comment Biosci
Biosci's picture

It's the same as the Let's Have A War stimulus plan, but requires only one player.  Harder to get people excited about it, though.

Wed, 08/08/2012 - 16:04 | Link to Comment TruthInSunshine
TruthInSunshine's picture

"Free market participants" (i.e. anyone not backed by Big 'Sis and the New York Branch of the Whore Mother Ship Federal Reserve 'Bank') desperately trying to earn a real rate of return of that's not negative in the era of ZIRP/NIRP are ignorantly letting The Big Bang Bernanke pressure them into buying chattel paper securitized by 14 year old/110,000 mile Hyundai Excels bought by 440 FICO score purchasers.

 

This will end well.

No one could possibly see what's coming.

Wed, 08/08/2012 - 15:11 | Link to Comment aerojet
aerojet's picture

I agree mostly, but the one reason it isn't 100% broken window is if you try to price in the environmental impact that removing all those "clunkers" had.  Basically, the only silver lining of CFC is that it replaced a lot of fuel-inefficient vehicles with more modern, less polluting ones.  That is the only good outcome from CFC and it came at incredible cost to US taxpayers.

Wed, 08/08/2012 - 15:40 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

Yes, because manufacturing cars, with insanely toxic batteries, that's what's good for the environment.

Wed, 08/08/2012 - 16:10 | Link to Comment hidingfromhelis
hidingfromhelis's picture

One of the (many!) things that irks me about these bogus stimulus programs is the BLS'esque assumptions they make up and tout.  Most of the "clunkers" turned in probably weren't even being driven daily anyway, and few would come close to the 12,000 annual mileage assumption.  Requiring the engine to be destroyed takes away the ability to recycle it into another vehicle that would probably be well maintained.  Let's destroy more productive or potentially productive assets!

This would be like forcing farmers to slaughter all their pigs and subsidizing raising cattle or burning all the soybean fields and subsidizing corn planting in the name of alleviating hunger while at the same time mandating and subsidizing ethanol production.  Oh wait, they already do stupid shit like that.

Wed, 08/08/2012 - 18:06 | Link to Comment A Nanny Moose
A Nanny Moose's picture

...a mere 10 years after CONgress passed and Bush signed into law those wondergoddamedfuckingful tax breaks for Hummers, and Ford Extinctions.

Mind the unintended consequences. Beware gummint "solutions"

Wed, 08/08/2012 - 14:32 | Link to Comment onelight
onelight's picture

Yeah...that...and cash-for-thingamajigs...can't forget that one...

This is the state of our union, alas

Wed, 08/08/2012 - 14:42 | Link to Comment flacon
flacon's picture

Don't be so cocky. "You didn't build that thought!"

Wed, 08/08/2012 - 14:51 | Link to Comment onelight
Wed, 08/08/2012 - 14:44 | Link to Comment john39
john39's picture

you didn't build that thingamajig.

Wed, 08/08/2012 - 14:36 | Link to Comment Dr. Engali
Dr. Engali's picture

I was reading about that yesterday,and the article didn't even include the finance charges. If you include the finance charges an a new car verses a used car it's a lot cheaper to buy a new car.  

Wed, 08/08/2012 - 14:41 | Link to Comment Hype Alert
Hype Alert's picture

Go long unions!  Er, voter base.

Hey, can we get some more channel stuffing in here?  It makes the labor numbers and GDP look good.

Wed, 08/08/2012 - 16:34 | Link to Comment viahj
viahj's picture

sure, there are still a few empty spots on the dealer's lots that we can fill with "sold" inventory.  then when a hail storm comes blowing in, more damaged captial.  all bullishit.

Wed, 08/08/2012 - 18:03 | Link to Comment Slim
Slim's picture

I came to the same conclusion last year.  I'm not a big "lease" fan and typically buy a car a few years old then treat it well as I own them a long time (this is almost always the best way to go baring certain situations).  However, the new car and even lease deals were so good I sold out of my vehicle at a premium price and decided to grab a lease.  I know a few others who came to the same numbers over the last year too.  I haven't seen decent lease deals since the early 1990s but this worked for me.

Oh - disclaimer here before someone thinks I'm pumping the lease market or endorsing the "ever rent" strategy. Do not ever ever use a lease to drive a car you couldn't otherwise afford (unless it's straight up cheaper than options you can afford which is very very rare in any market).  I'm not endorsing that at all despite the success of foreign luxury autos getting people into this insane strategy.  Just run the numbers and see what is the best option for your situation and remember that a car is consumption not investment (hence depreciation).  At the end of the day you need to be prudent in the use of your resources, sometimes renting is cheaper than buying (a la 2004-2007 no brainer on homes) and sometimes it can make sense in a vehicle too but these times are rare and require either high resale assumptions on return (right now - linked to used car prices) or your own ability to depreciate the vehicle for business purposes (pretty constant).

Wed, 08/08/2012 - 14:16 | Link to Comment Neethgie
Neethgie's picture

SHORT FORD

????

PROFIT

BUY FORD ESCORT

Wed, 08/08/2012 - 14:16 | Link to Comment ZippyBananaPants
ZippyBananaPants's picture

What will I use to have 'DINNER WITH BARACK'?

 

Wed, 08/08/2012 - 14:19 | Link to Comment machineh
machineh's picture

A plastic knife, obviously. 

Cuz the Secret Service don't let mundanes anywhere near the prez with metal forks and knives.

Wed, 08/08/2012 - 14:21 | Link to Comment dracos_ghost
dracos_ghost's picture

Not even sporks?!

Thu, 08/09/2012 - 19:11 | Link to Comment ZeroAvatar
ZeroAvatar's picture

Someone needs to turn the handle into a knife, thus the 'knispork'. (Hey, waddaya gonna cut it with?  Your sharp wit?)

Wed, 08/08/2012 - 14:44 | Link to Comment onelight
onelight's picture

oops, my bad

Wed, 08/08/2012 - 14:52 | Link to Comment GolfHatesMe
GolfHatesMe's picture

Unless a Hooker brings them in

Wed, 08/08/2012 - 14:22 | Link to Comment otto skorzeny
otto skorzeny's picture

according to the Chi Sun-Times he is throwing himself his own birthday party at his home on S. Side and for just $40K a plate you can go too. for that kind of dough Michelle better sit on my face.

Wed, 08/08/2012 - 14:25 | Link to Comment SokPOTUS
SokPOTUS's picture

^^^^^That comment was NSFW.  Or anywhere else for that matter.  Ewwww.  (*shudders*)

Wed, 08/08/2012 - 14:32 | Link to Comment derek_vineyard
derek_vineyard's picture

i wouldn't even let her blow me for free

Wed, 08/08/2012 - 14:42 | Link to Comment Likstane
Likstane's picture

I'd rather stick my face in a pail full of warm elephant piss.

Wed, 08/08/2012 - 16:17 | Link to Comment WonderDawg
WonderDawg's picture

I'd rather shave my head with a cheese grater and chew on a wad of tin foil. I wouldn't let that skank give me a hand job.

Wed, 08/08/2012 - 16:21 | Link to Comment Gavrikon
Gavrikon's picture

No one mentioned going down on her, er, him, er whatever.

Wed, 08/08/2012 - 17:41 | Link to Comment dogbreath
dogbreath's picture

same difference

Wed, 08/08/2012 - 20:24 | Link to Comment neilhorn
neilhorn's picture

An Irishman friend of mine once said, "I guess it  all depends on what you are accustomed to doing".

Wed, 08/08/2012 - 14:25 | Link to Comment BigMike
BigMike's picture

and suck a few jagon's too...

Wed, 08/08/2012 - 14:31 | Link to Comment Meesohaawnee
Meesohaawnee's picture

wait .. a ZH er reading chicago tabloid for the stupid? or better yet King Rahms PR dept.. wow. my condolences.

Wed, 08/08/2012 - 14:34 | Link to Comment JohnG
JohnG's picture

Don't care for gorillas, thank you.

Wed, 08/08/2012 - 16:20 | Link to Comment Gavrikon
Gavrikon's picture

Especially if they're males.

Thu, 08/09/2012 - 19:13 | Link to Comment ZeroAvatar
ZeroAvatar's picture

What exactly WAS Chewbacca, anyway?

Wed, 08/08/2012 - 14:38 | Link to Comment azzhatter
azzhatter's picture

you'd have to push Jarrett out of the way

Wed, 08/08/2012 - 14:40 | Link to Comment Winston Churchill
Winston Churchill's picture

I just got the last lot of coffee out of my keyboard.

Have do it again,right after washing my brain out with battery acid.

Wed, 08/08/2012 - 15:22 | Link to Comment Itch
Itch's picture

What about this for a party...Hillary slow grinding with an African. Maybe the African woman thought Hillary had something beneath those trousers and thought she would find out.

 

http://www.bbc.co.uk/news/world-us-canada-19175606

Wed, 08/08/2012 - 16:20 | Link to Comment Conax
Conax's picture

She looked stylish in her metal flake blue Chairman Mao get up.

Wed, 08/08/2012 - 23:51 | Link to Comment Cornfedbloodstool
Cornfedbloodstool's picture

Sweet Jeebus! I haven't seen less rthym since my wedding.

Wed, 08/08/2012 - 23:51 | Link to Comment Cornfedbloodstool
Cornfedbloodstool's picture

delete

Wed, 08/08/2012 - 14:17 | Link to Comment machineh
machineh's picture

Time for another 'junk some clunkers' program.

This 'market' thingy is getting bloody annoying. 

Why doesn't Congress just outlaw it? /sarc

Wed, 08/08/2012 - 14:17 | Link to Comment Neethgie
Neethgie's picture

Who keeps making all theese cars, because im reliably informed it wasnt me.

Wed, 08/08/2012 - 14:19 | Link to Comment TwoJacks
TwoJacks's picture

wow.  convincing

Wed, 08/08/2012 - 14:20 | Link to Comment Cursive
Cursive's picture

Still got a long way to go.

Wed, 08/08/2012 - 14:23 | Link to Comment otto skorzeny
otto skorzeny's picture

don't tell Phil LeBlow on CNBC

Wed, 08/08/2012 - 14:28 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Don't worry. He's too busy blowing Boeing to notice.

<Was that my out loud voice?>

Wed, 08/08/2012 - 14:39 | Link to Comment azzhatter
azzhatter's picture

Phil Lablow must have iron lips, that guy sucks off entire industries

Wed, 08/08/2012 - 14:25 | Link to Comment virgilcaine
virgilcaine's picture

Looking for a nice ued car.. alot of junk out there. My last buy was a nice sedan in 09.. which figures. I put a thousand into it and runs great. Total Cost 6K.

Wed, 08/08/2012 - 15:19 | Link to Comment aerojet
aerojet's picture

"Nice" and "used" generally don't go together.  It can be done--in '10 we bought an '06 Pilot that had been gently used for about 1/2 the new price.  But it took six months of looking.  And when you buy used you are typically buying someone else's problems, just food for thought.  I hate buying new cars because of the massive depreciation, but at zero or near-zero percent financing, it's hard not to.

Wed, 08/08/2012 - 14:26 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Wat.....wait.....I finally got a buyer for my rusty old Studebaker. Don't scare the chump off just yet. The check hasn't cleared yet.

http://en.wikipedia.org/wiki/Studebaker

Wed, 08/08/2012 - 20:01 | Link to Comment GCT
GCT's picture

Hush CD!  I loved my Avanti back in the day!!

Wed, 08/08/2012 - 14:28 | Link to Comment mick68
mick68's picture

I'll pass on wasting 50k on a depreciating asset thanks, and it sure feels good to have zero debt in the current state of affairs. I'll be laughing my ass off at all the jackasses with their $500+ monthly car payments when the SHTF.
They'll be the first ones to lose their house.

Wed, 08/08/2012 - 14:53 | Link to Comment RSloane
RSloane's picture

Actually, that's very true.

Wed, 08/08/2012 - 14:55 | Link to Comment 10mm
10mm's picture

Losing a house?It never was their house.Even if it's paid for.

Wed, 08/08/2012 - 15:21 | Link to Comment aerojet
aerojet's picture

When SHTF, do you really think anyone is going to be coming around reposessing cars? 

Thu, 08/09/2012 - 19:17 | Link to Comment ZeroAvatar
ZeroAvatar's picture

Oh, yeah, the Repo Men will be out there, making THEIRS, don't you worry 'bout that!

Wed, 08/08/2012 - 14:29 | Link to Comment cougar_w
cougar_w's picture

Looks like a trailing indicator to me.

Wed, 08/08/2012 - 14:32 | Link to Comment kito
kito's picture

Used Vehicle Prices Plunge Signaling End Of Auto Party....

 

party????.... what party???....who got invited to that party?????.....the unions????.....the ceos?????.......the government??????? 

Wed, 08/08/2012 - 14:54 | Link to Comment RSloane
RSloane's picture

Its just a continuation of Obama's "Summer Of Recovery" party.

Wed, 08/08/2012 - 15:23 | Link to Comment mirac
mirac's picture

it started out as a party, but it ran out of gas

Wed, 08/08/2012 - 14:33 | Link to Comment Scalaris
Scalaris's picture

I went to buy a used 911.

I then remembered that Draghi ate my money.

Wed, 08/08/2012 - 15:21 | Link to Comment aerojet
aerojet's picture

Tell you what, instead of buying the used 911, why don't you just give me $1000 and I'll kick you in the balls as hard as I can and we'll just call it good?

Wed, 08/08/2012 - 16:08 | Link to Comment Scalaris
Scalaris's picture

Pretty sure the level of comparability for the two experiences is quite unequal.

 

Wed, 08/08/2012 - 17:18 | Link to Comment beachdude
beachdude's picture

Used 911 = hole in your garage to pour $.

Wed, 08/08/2012 - 17:26 | Link to Comment Scalaris
Scalaris's picture

It's either this or the hole of my trading/gambling account.

At least with that I'll be deriving some semblance of pleasure, and at much cheaper price.

Wed, 08/08/2012 - 14:36 | Link to Comment EmmittFitzhume
EmmittFitzhume's picture

A year from now we will find thousands of GMC cars and trucks sitting in government parking lots with 0 miles on them. 

 

Wed, 08/08/2012 - 14:57 | Link to Comment Abiotic Oil
Abiotic Oil's picture

"Not only will I provide $3000 cash for thingamajigs, but I'll throw in a free car and a shadow inventory house, for any undocumented workers who apply for amnesty!  Call now, in the next 30 minutes, for amnesty and I'll throw in 6 months of SNAP card benefits.  All of this can be yours for the low, low price of a vote for me in the general election." -Barry

Wed, 08/08/2012 - 14:37 | Link to Comment Cone of Uncertainty
Cone of Uncertainty's picture

All these excess used cars are going to be used for housing in the FEMA camps.

Wed, 08/08/2012 - 21:42 | Link to Comment torabora
torabora's picture

Actually the gubberment still has all those thousands of FEMA trailors they bought from Buffett.

Wed, 08/08/2012 - 14:40 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

One reason I know America is fucked because every new Beamer I see has a boomer driving it. 

'Let's see....I just retired, well I was forced to, but either way....so with my meager income, instead of saving my wealth with an investment like gold or silver which has no counter party risk, I will take out a loan because rates are so low, and buy a new car!'

Wed, 08/08/2012 - 16:37 | Link to Comment pursueliberty
pursueliberty's picture

Local to my area we have had maybe ten houses constructed in the last twelve months.  The largest 3 of those ten have all been Boomers.  That is where all the money is anyway.

Wed, 08/08/2012 - 14:41 | Link to Comment Let The Wurlitz...
Let The Wurlitzer Play's picture

This will effect auto finance leinholders big time.  They have been using car resale price momentum in their underwriting guidelins.  Will also effect chase manhattan auto fin.  As economy slows it will definitely put people upside down on their auto loans.

Wed, 08/08/2012 - 14:41 | Link to Comment john_connor
john_connor's picture

Refuse to buy a new car.  Bought all of my cars used and paid cash.

I see people driving 40K cars with $700 per month payments and LMAO.

Wed, 08/08/2012 - 14:49 | Link to Comment slickrock
slickrock's picture

Absolutely.  Have a 2000 and 2001, the former now has 210K miles on it.  Put some money into them from time to time but they run and I expect them to for quite some time.  Not American as they would not last that long, Toyota and Audi.

Wed, 08/08/2012 - 15:01 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

'97 I bought last year for $800.  It needs a new trannie but I have a buddy who is a great mechanic who will drop one in for $500 parts and labor.  170k miles now, and it's German, so I expect to have it for 5-10 more years considering I put maybe 7k/year on it.

Wed, 08/08/2012 - 14:54 | Link to Comment jowenchrist
jowenchrist's picture

yep - just dropped $600 into my 190k plus miles paid for NISSAN - and I'm gonna keep rolling with a big stupid grin on my kisser -

Wed, 08/08/2012 - 14:48 | Link to Comment Mitch Comestein
Mitch Comestein's picture

I think someone needs to come up with the used BMW price index to use as a lagging wallstreet stress indicator.

Wed, 08/08/2012 - 14:51 | Link to Comment Arnold Ziffel
Arnold Ziffel's picture

Consumers are full to the brim with iPads, cars and 'housing bottoms.'

It's time to relax and enjoy the free things in life---family & friends-- instead of all the Geegaws and Doohickeys and lead weights that sink you down.

 

Wed, 08/08/2012 - 14:51 | Link to Comment Mitch Comestein
Mitch Comestein's picture

I plan to buy my 09-12 Honda mini van when the SHTF with cash of course.  I have a friend who owns a used car dealership.  He said he could not believe the prices of cars at auction in fall 2008.  He told me prices collapsed.  He got crushed because he bought too many cheap cars and couldn't sell them quickly.

Wed, 08/08/2012 - 18:40 | Link to Comment sessinpo
sessinpo's picture

"I have a friend who owns a used car dealership.  He said he could not believe the prices of cars at auction in fall 2008.  He told me prices collapsed.  He got crushed because he bought too many cheap cars and couldn't sell them quickly."

 

"I plan to buy my 09-12 Honda mini van when the SHTF with cash of course. "

 

I edited your comment. Unless you are willing to take very little cash or wait a very long time, I'd sell before the SHTF. Your above comments support that.

Wed, 08/08/2012 - 14:52 | Link to Comment johnjkiii
johnjkiii's picture

Can we see this chart superimposed on the $SPX?

Wed, 08/08/2012 - 14:55 | Link to Comment PaperBear
PaperBear's picture

I recall saying at the time of the cash for clunkers program to incentivise replacing your old vehicle that all this would do is bring forward the sales that would otherwise take place some time later. Have we just hit the air pocket that this program created ?

Wed, 08/08/2012 - 14:59 | Link to Comment Mitch Comestein
Mitch Comestein's picture

This chart has to give Prechter serious wood!

Wed, 08/08/2012 - 15:19 | Link to Comment Dareconomics
Dareconomics's picture

I was just thinking about this concept while eating my lunch. (BTW, I had an excellent chicken schwarma and Greek salad at Omar's)

The recession we experienced in 2009 was so extraordinary that the post recovery numbers are not behaving in the way in which we are conditioned.

One example is housing. Yes, housing prices are "up" according to the NAR, but they are "up" from such a low base that the rise is not feeding through and stimulating the economy.

Now, this plunge in used car sales would normally be an indicator of worse things to come in new car sales, but I believe that we have to take the effects of the 2009 recession into consideration. New car sales dropped so much in 2008 and 2009 that there is now a shortage of good used cars that are three or four years old. This is keeping late model used car prices high, so consumers are opting to buy new cars instead.

I think ZH could be onto something here, but I would like to see more data reinforcing this trend.

http://dareconomics.wordpress.com/

Wed, 08/08/2012 - 15:35 | Link to Comment pitz
pitz's picture

Sales might have dropped, but did production meaningfully? 

Wed, 08/08/2012 - 15:51 | Link to Comment hidingfromhelis
hidingfromhelis's picture

Channel stuffing...to infinity and beyond!

Wed, 08/08/2012 - 16:48 | Link to Comment pursueliberty
pursueliberty's picture

You are exactly right, especially in the truck sector.  Before 08 I could find a 1-2 y/o 3500 truck for a fair price without driving 100 miles.  Last one I purchased I had to drive 600 miles round trip.  They didn't sell many in 09, so there aren't many used ones available.  On top of that, what is available is priced so close to new.

To add to that, prices have escalated in such a manner that used prices are holding up.  My 06 F250 MSRP at $52k, same truck in 2010 I purchased MSRP at $61k, now in 2012 it is close to $63k.  I received almost idenctical incentives on both the 06 and 10, one was 0% interest, the other 1.9%. 

Wed, 08/08/2012 - 15:23 | Link to Comment Fix It Again Timmy
Fix It Again Timmy's picture

Who needs a car when you don't have money to go ANYWHERE?

Wed, 08/08/2012 - 15:34 | Link to Comment pitz
pitz's picture

The Japanese tsunami created some replacement demand, but it killed a lot of SUKI (tm) members (SUKI (tm), The New World Religion -- motherfucking religion). 

Wed, 08/08/2012 - 15:34 | Link to Comment TideFighter
TideFighter's picture

Honda Finance is currently refinancing Hondas at 140% of value and giving cash back to the borrower. You can now high finance a car that was overpriced to begin with. Honda needs to put money out on the street to leverage low sales volumes.  

Wed, 08/08/2012 - 15:40 | Link to Comment Village Idiot
Village Idiot's picture

I leased two MBZ's last week.  I'm driving 180K in MSRP with zero drive off's and payments of $2,200.00 (tax incl'd) for 24 months.  Hard case to be made for buying anything NICE that's used.  Reminds me of the slowdown in auto sales just before things turned shitty in '08.  And if that's the case I sure as shit want to be handing in the keys at end of term.

Wed, 08/08/2012 - 15:50 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

"I leased two MBZ's last week."

Why?

Wed, 08/08/2012 - 16:00 | Link to Comment Village Idiot
Village Idiot's picture

Because I can afford to and my wife wanted me to.  When you can afford to buy/lease cars at this price point, look at depreciation cost.  Trust me, this is a good play in my strata.  Not knocking the alternative - drive it forever, etc.  Just sold the 2004 Lexus RX she had been driving since new.  I should be given a medal for keeping a woman who pulls down high six in a small SUV for nine years.

Living under ones means is all relative.  Like everything else...

Wed, 08/08/2012 - 16:07 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Somewhere in fly-over land there is a huge government parking lot filled with a sea of Chevys with a giant car crusher in the middle.

Wed, 08/08/2012 - 16:14 | Link to Comment Clueless but Ca...
Clueless but Catching On's picture

Does this mean I can get a better deal on my survivalist 4x4 pickup to get the heck out of Dodge when the SHTF?

Wed, 08/08/2012 - 16:17 | Link to Comment Satan
Satan's picture

I drive a 1976 Land Rover Defender. I have to add lead separately when I fuel up. The clutch over heats in the summer, the heating doesn't work in the winter, milage is terrible and it is impossible to steer in a straight line, the dog ate the cushions, the baby puked on the carpets.

My car backfires on demand. So much better than a hooter ( broken ). Pedestrians run, small children cry. Cost me 500 bucks 5 years ago

I had a point to all this, but I seem to have forgotten it.

Wed, 08/08/2012 - 16:32 | Link to Comment Conax
Conax's picture

a 76 still on the road - awesome.

My 300,000 mile 93 cougar is getting brittle. Reddish metal crud litters the driveway and the passenger window doesn't work. Bought in '02 for 18 hundo, I have 4 grand in it now. I smoke in it (who cares?) and eat and drive. Great car all around. Always starts and gets me home.

Just guessing at the miles, the odo broke in 'o3 at 162,002.9 miles.

It still says that.  I also have a junky Big Bronco. It's currently needing a distributor and taking a little time off.

Wed, 08/08/2012 - 21:06 | Link to Comment deebee
deebee's picture

wanna buy my veyron 16.4 super sport? runs pretty smooth

Wed, 08/08/2012 - 23:14 | Link to Comment Village Idiot
Village Idiot's picture

how much?

Wed, 08/08/2012 - 23:46 | Link to Comment torabora
torabora's picture

I'm seeing Maseratis in the Pick 'n Pulls....and some Rolls Royces. The times, they are a changing.

Wed, 08/08/2012 - 16:44 | Link to Comment Zap Powerz
Zap Powerz's picture

Its all bad news all the time these days.  Im sure that the collective plan to continue to do the same thing will result in a different outcome this time.

 

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