May 18, 2010

How to Price Auto Parts Fast

My pickup truck failed its safety inspection last weekend. One of the front shock absorbers needed replacement.

So I looked up the phone numbers for 3 nearby auto parts stores and let my fingers do the walking. Using the following script I've used for years, I called for pricing and availability:

Parts Guy/Girl: [Store name] Auto Parts. How can I help you?

Me: Hi, I need to get a quote for front shocks for my '91 Toyota Pickup

Parts Guy/Girl: Is that four wheel drive or two wheel drive?

Me: Two wheel drive.

Parts Guy/Girl: Which engine does it have?

Me: 2.4 liter.

Parts Guy/Girl: Ok, we have [Brand X] for $x and [Brand Y] for $y each.

Me: Do you have it in-stock?

Parts Guy/Girl: Yes, both types are in-stock.

Me: What's the part number on that?

Parts Guy/Girl: [part # X] and [part # Y]

Me: And how late are you open?

Parts Guy/Girl: Until 9 pm each night.

Me: And what's your name?

Parts Guy/Girl: [first name]

Me: Great, thanks very much.

In a couple of minutes I had called and found prices ranging from $20 to $62 each. So replacing the pair would run from $40 to $124 for parts. I wrote everything down so I knew which store had what for how much, and who I spoke to. That always comes in handy if you show up on site and the rules have changed. You can hold someone accountable.

Then I price shopped online using Google and Amazon. The prices were in between, not including shipping and waiting.

Next I called up the manager of the service station where I had the inspection done (he was out when I was there) to get a labor quote. Ninety dollars. Ok, fair enough.

So I just went to one of the local shops and picked up a pair of shocks for $40. Total bill will be about $130 plus $16 to get the truck reinspected.

The moral of this post is that when you know what needs to be done and it's pretty routine, use a script to get it done quickly.

May 8, 2010

Hunted: Mini Cooper Convertible

Back in February my cousin Cindy came close to buying a 2005 Mini Cooper convertible but we were a couple of hundred bucks from what the dealer wanted – and no one budged.

So we passed and then Cindy decided she wanted the newer model. Another Mini dealer in the area had a new 2009 they were eager to move so she bought there instead. It was pretty easy and totally low pressure. And the price and financing was pretty good. She was going to pay cash but the interest rate was so low (less than inflation) she financed part of it.


But the logistics were kind of challenging as we are both very busy and traveling a lot. So finally picked the car up after returning from a trip in late March. Then we finally hung out again this past weekend at my Mom’s house and I took the car for a drive and snapped a few pics.

For a convertible the structure is fairly solid. It’s got a lot of interesting features like the way the engine is started: Insert the key fob in the dash like a cassette tape and then hit the start/stop button.

The auto transmission shift map was fairly sporty, keeping a lower gear than other vehicles when you release the throttle to keep the engine in its powerband, steering was well weighted and the switchgear is unique – looks a bit like those in Spyker cars.


Another neat feature was the tailgate. It reminded me of a tiny pickup truck the way it would fold down to expose the modest trunk. The rear seats, by the way have fairly limited legroom as would be expected from such a small car.

One thing that did take some getting used to is the turn signals. The stalk has two modes for each direction. If you press it lightly the signal will flash a few times. If you press it further, past a subtle “click” it will keep flashing until you complete a turn. I’m used to cars with only one mode and a very positive “click”.

Same with the control for the high beams. And while certainly unique, I also found it takes longer to glance at the fuel gauge and speedometer placed in the center of the dash rather than near the steering wheel.

The leather seats were comfy, and the top opens and closes fairly quickly – I’m guessing about 10 seconds. It’s a fun, peppy car with good fuel economy too (25/34 EPA mpg rating). Overall, Cindy has been thrilled with it.

Mar 24, 2010

Is Your Toyota Under Recall?

Short (non-Twitter) post.  Enter your Vehicle Identification Number (VIN) at this Toyota web site to find out if it’s subject to any safety recalls or service campaigns.

Not sure where to find your VIN? The site tells you that too.

Sorry I’ve Been AWOL

Why you ask? Because I’ve been organizing a 14 event kart racing championship with two dozen drivers. Three events have taken place and it’s been busy busy busy with so many events. Now I have a 4 week gap until the next one, so can post some more about cars.

Checkout on-board footage of me driving in one of the races. This is good, clean racing. Fun stuff.

Mar 7, 2010

Cars Aren’t Getting More Expensive Are They?

Fifteen years ago I bought my first car for $4k, exactly what I thought the used car price sweet spot was at the time. It was a good, basic Honda Civic with 87k miles on the odometer. It lasted a good 90k more until it was totaled by an errant tractor-trailer.

Fast forward to today and I still think the sweet spot is right around $4k for basic transportation. But the price of the average new car has risen considerably since then. It’s now somewhere in the region of $28,000.

Interesting. New car prices higher, the price of solid used cars is still the same. What does this tell us?

It tells us that new cars are depreciating more, on a dollar basis, than before and that used car deals continue to improve. And that means new cars are more expensive to own than before, which could be one key reason why used cars are more popular than ever before.

Mar 3, 2010

Credit Flowing Again For Auto Loans

Automotive News reports that the “Average Joe”, who typically has a FICO score in the region of 620 to 680 is finding it easier to get car loans now. Requirements are a bit more stringent than before in terms of how much of a down payment is made, and trade-in loan balances.

I guess this means we may hear less of the “We’ll pay off your trade, no matter how much you owe” bs on radio commercials. The closing rate is also improving it seems because buyers are more realistic about their borrowing power and doing their homework more before going in to risk getting shot down for financing.

Below Average Joes tend to have scores below 620 which is considered subprime, and still have difficulty financing. Which makes sense as they have a lower probability of paying back loans.

This is one more reason why the new car market is so far down compared with its peak.

Mar 2, 2010

How to Get A Repair Estimate

The key to getting an accurate repair estimate is to know what you’re asking for. Be specific when identifying the problem (symptoms). Don’t speculate on the cause, even if you know the answer. That’s why you’re asking for professional help.

For routine service you are familiar with (oil changes, tune ups, etc) you can just call a few shops and get a ballpark estimate for what it costs. Always take notes, ask the same questions and get the name of the person you spoke with.

On any service more routine than an oil change, ask for the shop’s hourly labor rate too. This allows you to better compare the total cost estimates by pricing the parts and labor separately.

Bringing the car in will enable the shop to provide a more accurate estimate. Ask for the estimate in writing. It some times helps ahead of time if you tell them you might not keep the car, depending on the extent of the problems.

The time to pay for a thorough inspection is when you’re contemplating buying a car or you really want to have it checked out top to bottom, and need an objective assessment. They will probably find a problem, as most cars are not in perfect condition. Always cap how much time you want them to spend on it. An hour is a reasonable amount.