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Micro-Small Stakes Limit Discussions about micro-small stakes Texas Hold'em (all stakes up to around 15/30)

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Old Today, 02:10 AM   #1426
MacauBound
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Re: 2018 NC/LC - Misteaks Were Made

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Originally Posted by Aaron W. View Post
Maybe. But in the experience of several friends who have gone through the process, what they were initially offered for trade-in at dealerships was about 75% of what Carmax was willing to pay them. Admittedly, there are a couple dozen possible interpretations for this, so I will not immediately conclude that Carmax gives the best value on trade-ins. But it's a big enough gap to have my attention.
Again, I don't doubt your ability to gauge the CarMax appraisal model vs. a new car dealer model, even if I might not yet be ready to recommend you for a GM position at an 8 store group. Each dealer, new or used, has to make their money somehow.

CarMax HAS to acquire inventory. So perhaps their model is to step up for sellers, fail to safely service the vehicle for the buyer, and play some games in finance, making them def not the place to buy a pre owned car. More likely, they are willing to forego a lot of the negotiation and give you about what a new car dealer will eventually give you, but w less hassle. I think the answer lies in your own words - "Initially offered".

If someone has a car w an ACV of $8k, CarMax may give them $7,650 right off the bat, make a few hundo on the trade, and ensure the higher likelihood that they will acquire more inventory, by giving the seller close to the number they had in mind without forcing them to haggle (which some customers enjoy and most despise).

John Elway Ford may offer someone $6,300 and hope they will take it, but will incrementally raise the trade allowance the closer they think they are to selling a car. They may ultimately give you $8,300 for the same trade CarMax will give you $7,650 for (if you haggle correctly while still making it make sense for the dealer), bc they know that along w acquiring inventory for future sale, they will sell a car in the present. J.E. Ford can afford to not step up on your initial trade offer, bc they don't need the inventory as badly as CarMax, esp if it's not for the right price, and they know they can always negotiate. Or better yet, just wait for CarMax to do the work for them and honor the $7,650 for a car that's worth $8k. It's all one big cycle.

These are basic business fundamentals. A $10k car is a $10k car. Dealerships, whether CarMax or J.E. Ford, have to make the profit somewhere. To give to the customer in one respect, they must take away from that customer (or the next) in another.

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Originally Posted by Aaron W. View Post
@MacauBound - What type of dealership did you work at? Was it mostly higher end vehicles?

The reason I ask is because of this:



The types of cars my friends drive get trade-in values more in the range of $6k-8k.
I can understand that within my wall of text you may have missed the multiple direct and indirect references to one former place of employment in the car biz for me, Acura, but the number $15k has nothing to do w the type of cars we sold. It was just a random even number. I didn't want to go with $6,742.43 bc it seemed unnecessarily complicated. Nothing more or less than that. I've appraised as many $6k-$8k trade-ins as I have $15k cars - prob even more (excluding online auction appraisals), as people have less incentive to trade in a car worth $15k than one worth $6-$8k, as the $15k car is more likely to be in decent mechanical condition.

I'm all car-talked out for the time being. It's not you, it's me. But hopefully you've learned as much as I have. Thanks
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Old Today, 08:03 AM   #1427
Wolfram
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Re: 2018 NC/LC - Misteaks Were Made

Dear god, can we get a separate thread for the car/financial talk? Most of it doesn't even apply outside the US so it's extra special boring for us ROW folk.
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Old Today, 09:01 AM   #1428
DougL
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Re: 2018 NC/LC - Misteaks Were Made

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Originally Posted by Wolfram View Post
Dear god, can we get a separate thread for the car/financial talk? Most of it doesn't even apply outside the US so it's extra special boring for us ROW folk.
Willing to channel MrWookie for you. For the price of 1 cool poker or degen story from you or 2 from others, I'll do it. I'm going to be on a client site for the next 10-12 hours, so I'll check back then and pay up. As an added bonus, you guys pay double in stories and I'm willing to give a 1 day ban to anyone posting car stories ITT from this point forward. If you want your poker stories to count put either "move cars" or "move cars and ban" in the post. The voting window closes 5 PM EDT, tomorrow (I'll pay as soon as I see the votes). I will be the totally arbitrary judge of cool poker story, though people saying "that was cool" could sway the judge. Length isn't that important.

Want your thread back? Make it better and I will help. Means there's some chance of getting a ban for posting car stuff here, before this evening.
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Old Today, 09:24 AM   #1429
Wolfram
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Re: 2018 NC/LC - Misteaks Were Made

Here goes.

I was playing a very late night session of 1/3 NL that had degenerated into 1kbb deep 2/5 with straddles and we decided to play two card blind indian poker (i.e. holdem where you place your holecards face forward on your forehead).

The best hand of the night was when the two most aggro players ended up hu on the turn and the action went bet-raise-3bet-shove. One guy had top boat, the other quads. Obviously they were relying heavily on card removal.

The quads folded

[move cars]
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