Re: Copo Corvette
Quote: "This is all very interesting to me. I worked for GM from 8/78 thru retirement in 11/01. During that time I only heard stories of how great the employee discount was "back in the day", primarily how one could usually make out selling a car after 6 months, etc., but with the caveat "not any more!" We usually got something like 10 t0 12 % off base and upwards of 15 to 18% on options. That's why it was cool to load the cars with options, but that actually made it harder to sell. We usually put them on one year balloon notes too, and then sold them at the end of the year while waiting for our next order. It was fun. I had a new one almost every year plus I bought "product evaluation" executive cars from the company stock as well. My sons always had a new or near new car for their use at college every year. We tried them all."
My neighbor in Birmingham use to buy cars from GM employees, during the mentioned time period, who were on ballon notes, brought them back home, detailed them, then took them to the Flint Auto Auction. The guy made a ton of money but lost it all on a cocaine habit. I had a real hard time understanding how someone could buy a car at "retail" prices and take it to a dealer auction and sell it at "wholesale" prices and make a fortune!
Rick
Quote: "This is all very interesting to me. I worked for GM from 8/78 thru retirement in 11/01. During that time I only heard stories of how great the employee discount was "back in the day", primarily how one could usually make out selling a car after 6 months, etc., but with the caveat "not any more!" We usually got something like 10 t0 12 % off base and upwards of 15 to 18% on options. That's why it was cool to load the cars with options, but that actually made it harder to sell. We usually put them on one year balloon notes too, and then sold them at the end of the year while waiting for our next order. It was fun. I had a new one almost every year plus I bought "product evaluation" executive cars from the company stock as well. My sons always had a new or near new car for their use at college every year. We tried them all."
My neighbor in Birmingham use to buy cars from GM employees, during the mentioned time period, who were on ballon notes, brought them back home, detailed them, then took them to the Flint Auto Auction. The guy made a ton of money but lost it all on a cocaine habit. I had a real hard time understanding how someone could buy a car at "retail" prices and take it to a dealer auction and sell it at "wholesale" prices and make a fortune!
Rick
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