2021 Stock Market
- Thread starter Mtowncyclone13
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Castlight Health(CSLT) up 4% again today.
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So are they selling these direct like Tesla? $77,000 seems pretty pricey for a base car.
They also have 500 mile range and battery that charges faster than anything on the market.
the float is SOOO LARGE and it just doesn't move enough. idk. i did pay at 119 and sell right before earns at 135
I had a zoom meeting with a local auto dealer a few months ago in a group setting and asked him what he thought about the Tesla model of direct sales and how it might impact their business moving forward, if at all. He had just built a $15,000,000 building; so I was curious to get his take on the industry's future, as he seemed to have a lot of confidence to build that new dealership.
You would've though I asked him how big his wife's tits were based on the response I got. After a 5 minute rant on Tesla, relationships in the community, and how they could get faster/better financing for buyers (that one killed me); I simply said "cool". After he signed off, the other three people on the call lost it, as it was surreal.
I've always been honestly curious on how the dealership model will evolve in the future when competing with the new companies. The single data point I now have, indicates "not much" and be a huge jerkoff about it.
A lot of states, like Iowa, seem to be doing everything in their power to save these dealerships, which is sad.
Curious why the financing part was funny? Does Tesla have no questions asked financing?
Not the OP but Tesla doesn't push financing like the stealerships. The dealerships act like they are doing you a favor but they end up getting a kick back and you end up with a higher rate.
In my experience getting the loan at the dealership means you're probably paying too much.
I had a dealer lower my sticker price by a few thousand dollars, jack the Ford - Credit interest rate when closing a deal. He didn't tell me that's what he did and when I was running through the loan docs, I noticed it and asked if there was a pre-payment penalty. There wasn't, so I paid it off about 3 months later. I'm not sure why he did that, but I assume more often than not it works out in their favor.
Tesla will let you reserve a car with a credit card. I assume there are some follow up conversations as to how you're paying for it once it's under production, but the initial "buy" is pretty painless.
When I was a loan officer and then managed a car dealership, we used mostly local banks that gave a 150/250 doc fee but was a 1/4% lower than the regular rate. No need for a loan officer made it work for both sides. If the loan didn’t fall under regular guidelines then we had to either get approved by the bank or the owner would float them himself many times.
This is exactly what a dealer tried recently on me.
I never tell them the rate my bank gives until they give me their best “found” rate.
Apple is a buy and hold. It’s never screamed make a quick buck. There are way better stocks out there for that, however they come with more risk.
Scalped means take, so you bought at 186? Hmm...I'm no mathematician but I think you want to buy low sell high.
Car dealerships are like the chartered monopolies English kings used to issue.
In short...
Car dealership receives a legal and protected monopoly from the state.
Car dealership uses this to collect monopoly rents.
Car dealership uses this largess for political patronage, ensuring the endurance of its privileges, and can also use its gains for other "fun" things. There is a reason car dealerships are so often implicated in college sports' recruiting scandals. A guy who owns a dealership is the perfect sort to be a bagman.
Very localized. Small company. Privately-held. Only "stealing" from themselves. It's the perfect "crime."
Car dealerships are also a huge source of sales tax revenue for states. So just like the kings used to do, they want you to make money... and then His Majesty wants his fair cut of the proceeds.
Great system for those involved, sucks for everybody else.
There are *so many* instances of this kind of thing throughout our economy and our politics.
Here is hoping Emperor Elon I puts an end to it.
