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  #1  
Old 02-14-2020, 10:19 AM
1968BMW2800 1968BMW2800 is offline
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We're Special

I've done some training in my day and I've done a lot of listening to car dealers. I've talked with sales managers who remember giving delighted customers $500 VIP discounts from MSRPs with 20% gross margins.

In today's collapsed margin reality, with manufacturers using stair steps and all manner of highly-targeted direct-to-dealer incentives, the retail auto marketplace balances on the edge of chaos.

Big data makes it so tempting for manufacturers to get incredibly granular with incentives to customers and dealers. There have been instances where dealers are informed by the manufacturer of certain, specific VINs that are incentivized, as opposed to all units of a certain model. And these "special programs" turn on and off, sometimes mid-month. Crazy!!

Imagine being in sales management trying to figure out if it's better to offer the killer deal on the incentivized unit or is it better to hold out and hope to make more gross plus a fat incentive on that unit and sell a higher-demand unit for a deep discount figuring it will all balance out. And while trying to calculate that arbitrage play, the sales management also needs to keep an eye on total until sales to make sure a monthly or quarterly bonus goal is hit.

Meanwhile, to make all the money on a car deal, more and more, dealers are looking at less than perfect credit customers who can get qualified, as their best opportunities for profit.

Festers know pricing and specs and what we want and what we want to pay, give or take. We are not intimidated or dazzled by the process. If BMW can't meet our terms, we walk across the street and snag an Audi or Mercedes or Tesla, or whatever, without worries about qualifying for financing or any of that stuff that MOST car buyers are sweating.

We want a great deal and are willing to shop for it. We generally don't fall for cheesy word tracks like, "lenders who can offer you better terms like to see a full protection package so you aren't assuming 100% liability for any uncovered repairs that might come up." And here comes paint and fabric protection and all the rest. And here comes 72 ~ 84 months of payments.

Meanwhile, we come in, drop off the lease return and lease another one, well back of invoice if we can, and we self-insure for the potholes and the door dings. Or we add the protection package at $100 over dealer cost.

Yes, BMW dealers make a few bucks off of us -- we help them move units, we do the scheduled maintenance at their stores for 3 years, and we come back, and back again if we're well-treated.

But the real money is elsewhere, where skilled sales teams, using process discipline, put customers together and find thousands of dollars in those deals.

We pay less because others pay more.

Of course, over time, the dealers get all of our money too, one "good deal" at a time. Fair is fair. Right?
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  #2  
Old 02-14-2020, 10:37 AM
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gkr778 gkr778 is offline
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Good post 1968BMW2800! Bimmerfest is definitely a special place, especially since Jon Shafer is back!

Your commentary about car dealers is especially timely because NADA Show 2020 starts later today in Las Vegas.

Speaking of NADA, here are some interesting facts about the U.S. new car/light truck retail market in the U.S. in the latest NADA Market Beat:

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Old 02-14-2020, 06:44 PM
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Man, that graphic designer hit it out of the park. If I had a HS kid who wanted to go into graphic design, I'd call up NADA, get the name of the graphic designer, reach out to them on LinkedIn and find out where they went to school.

Fascinating data, too. Trying to understand how "Domestic Light Vehicles" are up 1.2% year-over-year, yet the Big Three are all losing market share. Does that mean that the upstart domestic light vehicle manufacturer, the one with the South African dope-smoking CEO, is absolutely killing it? To the point where Tesla is solely responsible for the year-over-year light vehicle growth?

And Nissan: WOW! Do you think they sprung Ghosn from the Japanese Abu Ghraib just to distract the public from their implosion?

Thanks for posting!
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Old 02-14-2020, 07:58 PM
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Check out the "Crossover" share of the market: 40%. We have one in the garage (X3) and maybe another one coming next year (Chevy Equinox beater). The other beater contender is a Chevy Spark. So, in the Putzer garage, Crossover share will be between 33% and 67%.

Duck's graphics guy boned the table by not listing the units, which I presume is millions of vehicles.

Buying and selling cars has evolved into a nasty business, and everybody's to blame: manufactures, dealers, and customers. Everybody's greedy and out to screw the other guy. I remember reading about an Acura dealer who tried a different way. He'd sell every car for the average mark-up (data tracked by Honda). Customers would drive 50 miles to get the car for $100 less at another Acura dealership.

I'm willing to pay a fair price for a new car. But, I want service: no tricks (including "Auto Butler," pinstripes, N2 in the tires, etc., etc.), factory ordering exactly what I want, having cars delivered without some minimum-wage moron scratching the **** out of the clear coat when washing it (solved by requiring my new cars delivered with the shipping film still on and not washed). Buying a Chevy, Honda, or Hyundai in my town under these conditions is no longer possible.

The original franchise holder of the Honda dealership in my town is an acquaintance. His facility built in the 1970's was busting at the seams. He was ready to retire. His son worked at the dealership, but didn't want to take it over, because "he didn't want a $10M mortgage (for a new facility) hanging over his head." So, they sold out to a multi-state bunch of a-holes.

The BMW dealership I've used for 20 years is also owned by the original franchise holder. But, he's getting old. Nobody's expecting good things to happen when he's ready to retire. The buyers of existing franchises pay ridiculous amounts of money for them, and they have turn up the heat on everybody (customers and employees) to make a suitable return on their investment.

The only reason that South-African, dope-smoking CEO is in business is that his customers have twice the average household income, yet get massive government subsidies for buying Tesla's.
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Old 02-14-2020, 08:01 PM
jjrandorin jjrandorin is offline
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Man, that graphic designer hit it out of the park. If I had a HS kid who wanted to go into graphic design, I'd call up NADA, get the name of the graphic designer, reach out to them on LinkedIn and find out where they went to school.

Fascinating data, too. Trying to understand how "Domestic Light Vehicles" are up 1.2% year-over-year, yet the Big Three are all losing market share. Does that mean that the upstart domestic light vehicle manufacturer, the one with the South African dope-smoking CEO, is absolutely killing it? To the point where Tesla is solely responsible for the year-over-year light vehicle growth?

And Nissan: WOW! Do you think they sprung Ghosn from the Japanese Abu Ghraib just to distract the public from their implosion?

Thanks for posting!
Probably.. that company is basically selling every single model 3 as fast as they make it, and its really a car designed to appeal to young people (or people who like to go fast, who dont care about all the things you laid out in another post you made about the topic, such as sound, rowing gears, etc).

Its really the perfect commuter car.. I am supremely happy commuting in mine, but wish I could also afford to have a "weekend" m2 or something.
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  #6  
Old 02-15-2020, 12:05 AM
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Great thread! I have noticed something changing in the current sales milieu, though, worth mentioning.

When I left at the end of 2016 I went on Family Medical Leave for 90 days and ultimately parted ways with SBAG on April 1, 2017. Part of the motivation for my departure was sheer frustration due to (a) the scaling back or outright elimination altogether of many of the incentives and also fringe benefits of BMW ownership. Not only was European Delivery discount cut back to 5% from 7% (ED accounted for close to 30% of my personal business), "stackable" incentives were precluded from being applied to ED, also Full Maintenance was curtailed back to "Scheduled Maintenance" (as it was originally offered beginning with the Z3 launch in 1996), the Takata fiasco, but worse, when the global economy faltered, production that was destined originally for China and Russia was diverted to the USA ~ specifically because our economy was the one purportedly that could swallow it, and soon, every dealer in America had to lease huge storage lots to accommodate acres of excess inventory (most of which was F30 320i). On top of my physical challenges (my aching left hip and lower back), well, it was time for me to throw in the towel. At the same time, a buyer came along for Bimmerfest, and I just decided maybe the universe was telling me something. Well, over the interim a deep depression set in, and I hit a personal low a year ago when I drove LYFT in my X5 for two months last Winter. It wasn't for money, just to get me moving again after total hip replacement in July, 2018. I made a brief appearance last Summer at the local Chrysler/Dodge/Jeep/Ram/Fiat/Alfa/Maserati superstore still under construction after two years (what a cluster-snafú that was ~ I was really hoping that Alfa/Maserati could fill me up but they couldn't), so in the Fall I realized I belonged back with BMW, back with Bimmerfest, and found a new home working for The Bachmans in Santa Maria (what a fantastic family-run operation, much like the Cutters for whom Bimmerfest would not have ever existed without). Anyway, back on point, BMW clearly hit the reboot button. They actually sincerely seem to be preoccupied with dealer profitability. No longer are we flooded with product. Sales Support is back, reasonably strong sustainable incentives, and gross profits PNVR on the rise. Not where someone in sales would hope they would be, but still, no longer are dealers fighting their way out of business, because, we simply no longer have excess inventory! This is not to say that great deals are not to be had. It is just more reasonable, the bleeding has ended.
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Old 02-15-2020, 11:23 AM
1968BMW2800 1968BMW2800 is offline
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Thanks for weighing in Jon.

The last extended conversation I had with an automotive retail general sales manager was last October (2019). He said "monthly payment price point" continues to stand out as a major challenge. I saw his point when the MINI I configured, with a $42,000 MSRP, and a final cap cost @ $500 over invoice (before incentives), penciled out at over $550/month for a 36 month/10K lease with minimum drive offs and no MSDs. Fortunately for me, by the time my ordered car hit the port, the right incentives kicked in, lease MF dipped, and we got that lease down under $400, tax included, with $2,800 for 7 MSDs kicked in.

The GSM told me he tries to hold gross on most retail deliveries and he also mentioned that less than half of his customers qualify for the advertised special offer lease deals. He mentioned that MINI was experimenting with a single tier financing scheme so that anyone who qualified for financing through MINI (BMWFS) got the same rate (no bumping). He was skeptical.

He said at some point the industry is going to have to seriously revisit pay plans for front line salespeople because gross margins are trending toward under 6%. He expressed concern that there is still a great need for professional salespeople who have deep product knowledge, can qualify a customer, and can close. He felt the "vending machine model" cannot easily accommodate the needs of customers who need to be shepherded through an anxiety-filled process. He pointed out, that for MOST auto shoppers, it's the largest purchase they will make (since more and more people have no hope of purchasing a home).

We discussed the high volume manufacturers and the high volume dealership model. He said, "A Toyota is a Toyota is a Toyota. Easy to sell, not a lot of product knowledge required." He also said the sales processes and tactics used by the volume main-line dealerships are horrible but result in high take rates of protection packages and high margin financing for the many lower credit tier customers those big dealerships see every day.

He compared the high volume folks to the family owned BMW/MINI operation he helped manage. His greatest frustration was that, no matter how much courtesy his team extended to customers, it usually came down to monthly payment, lease or purchase, new or used. He also observed that BMW customers are changing. "Getting younger and more spoiled." A lot of their business is professional, educated parents buying Bimmers for their kids to drive to, wait for it, high school. He said it used to be VW Jetta. Now it's 320i. White or Silver or Black.

He also observed that there are more and more women purchasing or leasing cars for themselves. His observation was that women want aggressive deals but seem more concerned about a trusting relationship and the ability to get the car serviced conveniently. He said men are the ones who most frequently will drive across town to another dealer to save $20/month.

I came away from our last deal satisfied that we were certainly well-treated and it was hassle-free. I am still amazed that in the few weeks from order to delivery the lease went down over $150/month, from over $550 to $399. (For the record, I would not be willing to pay $550 for a MINI, much as I love the car, and the dealer was willing to order my custom build knowing this, and believing, as did I, that better sales support would materialize by delivery date, which it did!)

I would suggest to anyone who wants to critique the retail car biz to spend 90 days standing on point, outside a Ford or Toyota or Honda volume store, waiting for the next up, and moving customers through those dealership's sales processes, for $150 ~ $200/unit gross commission, plus a chance for a trip to Hawaii, if you sold more F150s or Camrys or Accords than anyone else on the lot.

Hat off to you Jon. Glad you and a few others can run a professional sales practice within a family store. Endangered species. Ride it into the sunset if you can.

Last edited by 1968BMW2800; 02-16-2020 at 11:00 AM.
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Old 02-15-2020, 01:24 PM
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gkr778 gkr778 is offline
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Trying to understand how "Domestic Light Vehicles" are up 1.2% year-over-year, yet the Big Three are all losing market share.
NADA defines "domestic light vehicles" as passenger cars and light trucks whose final assembly point is located in the USA, regardless of OEM's HQ location. Passenger cars and light trucks assembled outside the U.S. go into the "import light vehicle" category.

Thus, models such as Subaru Outback, BMW X3, Volkswagen Atlas, and Kia Telluride - all of which are assembled exclusively in the U.S. for the U.S. market and exhibited sales growth in 2019 - are "domestic light vehicles" by NADA's definition.
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Old 02-15-2020, 10:49 PM
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Hat off to you Jon. Glad you and a few others can run a professional sales practice within a family store. Endangered species. Ride it into the sunset if you can.
I don't share this often, but the only management desk at a BMW Center that I have never occupied is General Manager. After Bimmerfest took off in 2003 and I retired from my GSM position at Cutter BMW I pretty much abandoned my dream of becoming a GM as it was no longer necessary. I have to confess now though that the owners and dealership I am working for now feels like perhaps I could revisit that dream once last time before I finally retire for good!

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Old 02-16-2020, 10:55 AM
1968BMW2800 1968BMW2800 is offline
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I don't share this often, but the only management desk at a BMW Center that I have never occupied is General Manager. After Bimmerfest took off in 2003 and I retired from my GSM position at Cutter BMW I pretty much abandoned my dream of becoming a GM as it was no longer necessary. I have to confess now though that the owners and dealership I am working for now feels like perhaps I could revisit that dream once last time before I finally retire for good!

Comes down to heartbeats and how/where you want to spend them. As time marches on, each beat becomes a greater percentage of available remaining beats. Steeper curve than BMW depreciation!!
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Old 02-16-2020, 11:07 AM
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Comes down to heartbeats and how/where you want to spend them. As time marches on, each beat becomes a greater percentage of available remaining beats. Steeper curve than BMW depreciation!!

Funny you should say that. The metaphor I like to use to illustrate that point?

When I was a kid in the 60's in school we used to watch a lot of 16mm movies in the class room.

In the early part of the film, the take-up reel moved very slowly (relative to the main reel).

In the middle of the film the two reels rotated at the same rate.

By the end of the move, the take-up reel was hauling @$$.


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Old 02-16-2020, 11:16 AM
1968BMW2800 1968BMW2800 is offline
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Funny you should say that. The metaphor I like to use to illustrate that point?

When I was a kid in the 60's in school we used to watch a lot of 16mm movies in the class room.

In the early part of the film, the take-up reel moved very slowly (relative to the main reel).

In the middle of the film the two reels rotated at the same rate.

By the end of the move, the take-up reel was hauling @$$.


You appear to have grasped the concept. The secret is knowing where you are in the film; the beginning, the middle, or... is that take-up reel really starting to spin... opportunities at every phase of the movie, but you gotta know who and where you are. though, actually, I believe the take-up reel moves more slowly as the supply reel accelerates. As the supply reel is depleted, it spins faster and faster.

Last edited by 1968BMW2800; 02-16-2020 at 11:19 AM.
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Old 02-16-2020, 03:51 PM
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You appear to have grasped the concept. The secret is knowing where you are in the film; the beginning, the middle, or... is that take-up reel really starting to spin... opportunities at every phase of the movie, but you gotta know who and where you are. though, actually, I believe the take-up reel moves more slowly as the supply reel accelerates. As the supply reel is depleted, it spins faster and faster.

Exactly..

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Old 02-16-2020, 04:48 PM
Autoputzer Autoputzer is online now
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There's a saying that if you love your job, you never work a day in your whole life. A big part of enjoying your job is being in control of your environment, where you can make it safe, comfortable, and make yourself prosper. Jon's chance to be a GM is one of those situations. The next best thing is having somebody else who is smart and honest in control of your environment.

I was not in charge of my own environment in my job. Some scummy, stupid a-hole was. So, like most of my immediate former co-workers, my plan was "MRA (minimum retirement age), and on my way." Thanks to family money I didn't need to work. But, I needed to stick around long enough to retire so that I could take my health insurance with me as I put some mistletoe on my back belt loop the last day at my job.

The last third of my career my biggest tasks were writing: sometimes 50 pagers, sometimes 300 pagers. Now, that's become my "jobby." I've got a couple of books inside my brain, thumping om my skull to get out. If I don't have anything better to do, I knock off a few pages or a chapter. I'm doing what I used to get paid to do, but now I'm doing it for nothing (for now). But, I'm in control of my environment.
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Old 02-17-2020, 09:06 AM
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Originally Posted by Autoputzer View Post
There's a saying that if you love your job, you never work a day in your whole life. A big part of enjoying your job is being in control of your environment, where you can make it safe, comfortable, and make yourself prosper. Jon's chance to be a GM is one of those situations. The next best thing is having somebody else who is smart and honest in control of your environment.

I was not in charge of my own environment in my job. Some scummy, stupid a-hole was. So, like most of my immediate former co-workers, my plan was "MRA (minimum retirement age), and on my way." Thanks to family money I didn't need to work. But, I needed to stick around long enough to retire so that I could take my health insurance with me as I put some mistletoe on my back belt loop the last day at my job.

The last third of my career my biggest tasks were writing: sometimes 50 pagers, sometimes 300 pagers. Now, that's become my "jobby." I've got a couple of books inside my brain, thumping om my skull to get out. If I don't have anything better to do, I knock off a few pages or a chapter. I'm doing what I used to get paid to do, but now I'm doing it for nothing (for now). But, I'm in control of my environment.
Being able to take health insurance into retirement is huge. One colleague, who recently passes RMD age, stays on the job just for corporate health insurance. Also by staying employed RMD can be deferred too if the conditions are right.
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Old 02-17-2020, 09:35 AM
1968BMW2800 1968BMW2800 is offline
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Being able to take health insurance into retirement is huge. One colleague, who recently passes RMD age, stays on the job just for corporate health insurance. Also by staying employed RMD can be deferred too if the conditions are right.
Everything you an Putzer say is valid.

At age 61 all the spreadsheets told me to keep at it for a few more years.

I would say I had a career more than a job -- loved all the things I was doing, was well-regarded within my profession and all the rest.

I retired six months prior to my 62nd birthday, requiring substantial monthly strokes for health insurance and all the rest.

On my last day of work, I spent the entire commute to the office and back home to the coast watching out for that semi-truck I knew had been stalking me for decades. I wasn't going to give that truck one last shot at me.

Any landing you can walk away from is a good landing.

Early retirement, at the peak of my game, before I became the Old Guy, was the best work-related decision I ever made. But then, I lease cars, so what does that say about my judgment??

Heartbeats, baby. Spend them wisely if you can.
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Old 02-17-2020, 09:37 AM
Autoputzer Autoputzer is online now
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Being able to take health insurance into retirement is huge. One colleague, who recently passes RMD age, stays on the job just for corporate health insurance. Also by staying employed RMD can be deferred too if the conditions are right.
I went part-time for the last four years I worked. That made work a whole lot more tolerable. I was even thinking of staying a few more years past MRA. But, then the scummy, stupid a-hole came back from early his long-term assignment in Afghanistan. That was enough for me to get the mistletoe out of the desk drawer. He said he was in the bathroom when there was a green on blue attack, and that saved him. Note to any BMW-driving Taliban surfing Bimmerfest: ALWAYS CHECK IN THE BATHROOMS!
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Old 02-17-2020, 12:49 PM
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Everything you an Putzer say is valid.

At age 61 all the spreadsheets told me to keep at it for a few more years.

.

Any landing you can walk away from is a good landing.

Early retirement, at the peak of my game, before I became the Old Guy, was the best work-related decision I ever made. But then, I lease cars, so what does that say about my judgment??

Heartbeats, baby. Spend them wisely if you can.
Well said and bravo to walking out head first as opposed to feet first. The labor force participation of those 62+ is steadily increasing, in part due to need and in part due to longer life spans. I keep telling myself I need to set an end date for working but have not done so.
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Old 02-17-2020, 01:10 PM
Autoputzer Autoputzer is online now
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There was a 72 year old guru in my group. He'd retired with 80% of his salary (but no Social Security) at age 62, and then came back part-time as a contractor. He was so good that the scummy, stupid a-hole dared not **** with him. The guru got first dibs on the incoming work. If his work was unclassified, he'd work at home. Since he's racked up ten years working for contractor, he now gets a Social Security check, too. He works two full days and one hafl-day each week, and then goes flying in his Mooney.

Some of my neighbors were self-employed tradesmen (electrician, AC tech', landscaper). They worked part-time after retirement, picked their work, and enjoyed it. For 15 years, my neighbor the retired Deputy Chief of Police, did lawn care in our 'hood. He said it kept him tan and stopped him from getting fat.

My uncle, Claude Putzer, retired from the Navy at age 38 at the end of WWII. He decided he wanted to be a cowboy. So, he bought ad small ranch and that's what he did. He did up until his early 90's. But, it got to the point that he couldn't catch the cows, the cows knew it, and they'd just **** with him. He lived to 103, collecting that Navy pension for 65 years.

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  #20  
Old 02-17-2020, 05:05 PM
1968BMW2800 1968BMW2800 is offline
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Originally Posted by vexed View Post
...bravo to walking out head first as opposed to feet first.
There is no one-size-fits-all solution. People have differing commitments, responsibilities, desires, fortunes, and needs.

When I was in grad school I had one professor whom I greatly admired. I would sit in his class, writing down every pearl he put forth, thinking some day I want to be just like him. He had a private consulting practice, ran a non-profit community agency, and was on the faculty. He was one squared-away gentleman, crisply dressed, command of his subject matter, accessible as a human being, and able to truly excel at 3 demanding professional jobs simultaneously.

As things progressed, years later he and I shared an office at the university where we both held faculty positions, I had become the chief exec of a non-profit community agency, and I had a thriving consulting practice. Then one day, my squared-away role model and mentor was doing his morning work out on his Nordic Track, when, apparently at peak fitness for his age, he dropped dead.

Suddenly, I didn't want to be just like him any longer. I gave his eulogy (I've done others, but that one was the hardest). Then I began winding down my consulting practice, I set an end-date for my university position, and devoted my energies to preparing a successor and paving the way for a smooth departure from my executive role. The last few years I was "in the office" Monday through Wednesday only, though available remotely as required. Of the previous two occupants of my office, the first one died on duty and the second had a quadruple by-pass, which is when they hired me. I walked out on my own steam.

The weirdest thing was to start annuitizing those policies we had painstakingly paid into for many decades and to tell our financial advisor that it was time for some of the other investments to start working for us instead of us working for them.

I think the secret to be able to walk away "early" is, besides solid financial planning and good fortune, to find fulfilling, meaningful work, do it to the best of one's ability, and know when to walk away a winner. And, of course, to walk away toward something in life more compelling than one's work and to drive away on that last day of work in a vehicle you love to drive.

But I haven't kicked the car leasing habit yet. Clean as I'm livin', can't shake the need for New Car Smell. Man's gotta know his limitations.
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  #21  
Old 02-17-2020, 06:36 PM
namelessman namelessman is online now
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Originally Posted by 1968BMW2800 View Post
The weirdest thing was to start annuitizing those policies we had painstakingly paid into for many decades and to tell our financial advisor that it was time for some of the other investments to start working for us instead of us working for them.

I think the secret to be able to walk away "early" is, besides solid financial planning and good fortune, to find fulfilling, meaningful work, do it to the best of one's ability, and know when to walk away a winner. And, of course, to walk away toward something in life more compelling than one's work and to drive away on that last day of work in a vehicle you love to drive.
Our household has never solicited service of financial advisors, so according to industry standard, our case is textbook under-performing. At the same time, since no time and energy are spent to strategize on structured products that work for "them", our clarity and perspectives tend to differ from "them", and it seems to work much better for us than "them".

On the strategy of walking away, our strategy really is no worry be happy , except simple steps to minimize committed cash flow, maximize expected cash flow, pay attention to momentum, work for companies with great benefits, and sleep early.
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  #22  
Old 02-17-2020, 08:14 PM
1968BMW2800 1968BMW2800 is offline
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Originally Posted by namelessman View Post
Our household has never solicited service of financial advisors, so according to industry standard, our case is textbook under-performing. At the same time, since no time and energy are spent to strategize on structured products that work for "them", our clarity and perspectives tend to differ from "them", and it seems to work much better for us than "them".
We were very fortunate to purchase policies and IRAs with very generous annuitization benefits starting many, many decades ago. My first policy was purchased when I was 16, so I started chipping away at this rather early in life. Additional purchase options were exercised over the decades, along with diligent annual IRA contributions. Payouts, guaranteed for two life times, with phenomenal tax-advantaged growth and tax-advantaged payouts, have proved to be a gift that keeps on, and will keep on, giving. -- I imagine current products are nowhere near as simple or generous.

I had many very wealthy clients over the years. They all used independent financial advisors.
I figured there must be some connection between good advice and increased wealth, so we sought guidance for our investing. Turned out to be true that you get what you pay for.

My financial advisor does not lease. She keeps her vehicles for a decade or more. Some advice you take, some you ignore.

Last edited by 1968BMW2800; 02-17-2020 at 08:15 PM.
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  #23  
Old 02-17-2020, 08:48 PM
namelessman namelessman is online now
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Originally Posted by 1968BMW2800 View Post
My financial advisor does not lease. She keeps her vehicles for a decade or more. Some advice you take, some you ignore.
Sounds like your financial advisor is a keeper.

And all roads lead to Rome.

Last edited by namelessman; 02-17-2020 at 10:56 PM.
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  #24  
Old 02-18-2020, 05:30 AM
rounderman rounderman is offline
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have to say I am loving this discussion. I plan to switch from full time to part time June 30. i am in the healthcare biz (run a cancer center as part of larger cancer center for a major academic medical center) and have been a bean counter in various forms for most if my career. As a young man I chased dollars over job satisfaction which I would not recommend. fortunately the last 11 years I have been able to settle in with one employer with great 403b contribution benefits and rode the wave post rescission. I agree with 1968 (I find that a lot) What I tell the young folks here is put away whatever you can even 25 a paycheck and let the miracle of compounding work for you. It will give you some choices down the road. Some of them even listen to me

So back to cars I really love my X2M35, i leased it because of anticipated technology changes and who knows what I will do in a couple year. by then I should be fully retired, doing some volunteer work or really light consulting. And yes I have a financial advisor since trying to figure out the stock market is not my thing. Most of my work life has been in healthcare and that is complicated and interesting to me

so keep one foot in today because you never know and find ways to enjoy life, like driving a fun car that is much more than basic transportation

Last edited by rounderman; 02-18-2020 at 09:51 AM. Reason: spelling
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  #25  
Old 02-18-2020, 09:19 AM
1968BMW2800 1968BMW2800 is offline
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I titled this thread "We're Special" because, in most instances, the wisdom and thoughtfulness of many who post reflects why they have found success in life and why they have learned informed ways to buy/lease nice vehicles. I still enjoy reading, and, now that Jon is back among us, a little of the old spark has returned to Ask a Dealer -- even though we who are not car dealers are always jumping in.

My main point in starting this thread was to reflect on how the auto biz is evolving (devolving?) and to tease out what this means for those of us who keep coming back for new cars, confronting and trying to understand the changes at dealerships, as we try to understand what is required to secure the best possible arrangements in a process with so many moving, oft hidden parts. I have always believed that an understanding of the dynamics of a situation often reveals the best strategy for dealing with that situation. The more we can understand about how modern dealerships work and what's on the minds of those who are desking our deals, the smoother the process can be for all parties -- and, hopefully, the better the deals will be as well.

What I'm reading is not that surprising. Many of us are at or near the conclusion of our working lives. We've lived well. Some have done well throughout the journey, some have worked hard to get to the living well place. Some want to drive a BMW when they should be buying a used Kia and banking some loot for the future.

Through our enjoyment of the BMW brand, as diverse a group as we are, we find common cause in wanting to milk just a bit more out of our brief
trips through life. As we reflect on why we like to drive nice cars, it does lead to explorations of deeper existential themes. It turns out, we all are weighing deeper issues than simply how far back of invoice we can walk a deal.

My name is 1968BMW2800 and I am a New Car Smell Addict and a Serial Leaser. Because life's too short not to drive a vehicle you love. Oh, and like others on this Forum, I think I'm Special.
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