Mega Millions Fever

As many/most of you reading know no winning ticket was sold for the most recent Mega Millions drawing. As of this writing, the annuity value of the jackpot is $1.6 billion and the cash value is over $900 million. Given the enormous number of tickets that will be sold before the next drawing those values will increase. I believe this is already the largest jackpot in US lottery history.

I would rather have a 1-in-300 million chance of winning than a 0-in-300 million chance, which is why my wonderful wife and I buy lottery tickets most weeks of the year. Once again, I ponder which cars I might buy if we somehow won this extraordinary amount of money.

Yes, my wonderful wife and I would make sure our family and close friends never had to worry about money again. Yes, we would donate lots of money to charity. Still, for me an unimaginable windfall means CARS!

I haven’t driven a vehicle with a manual transmission in 40 years and reject the “knee-jerk macho” attitude that no one can really enjoy driving a car with an automatic transmission. All that being said, one of these might find its way into my possession after a lottery win:

See the source image

From rarecarsforsaleblog.com a picture of one of my all-time favorites, a Honda S2000 in Imola Orange. I wrote about this car in this post in which I revealed the inside joke about the S2000 that my wonderful wife and I share. Although they are not a common sight 66,000 S2000s were sold in the US and we occasionally see one. When we do I always say, “Did you know that I love these cars?” and she answers, “Really? I had no idea.”

I think the S2000 is almost a perfect blend of styling, performance and aura. I have a soft spot for two-seat roadsters, anyway. All 110,000 of these cars were made with a manual transmission. I guess I would have to reacquaint myself with manuals if we were to win the Mega Millions and I decided to buy an S2000. Oh darn…

******************

While I am not certain if the actual date was today (October 20th) or October 17th, it was around this time in 1902 that the first Cadillac was built. I wrote about Cadillac in this post in which I detailed how they, in 1908, became the first American company to win the prestigious Dewar Trophy and that it was awarded its second Dewar Trophy just four years later.

At least three Cadillacs would be serious contenders for Ultimate Garage 2.0. I have shown pictures of them before, but what the hell…

See the source image

From momentcar.com a picture of a 1968 Cadillac Eldorado. I would be happy with a 1967 model, also. I think these cars look magnificent and had amazing performance for their size. I might, emphasize might, prefer the ’68 because the engine was larger and had more power.

 

See the source image

From classiccars.com a picture of a Cadillac Allante that I am almost certain I have shown before. I really like the wire wheels and the green exterior of this particular car. These cars are much maligned and much of that sentiment was “earned.” However, I think they are beautiful cars. How could they not be as the bodies were designed and built by Pininfarina? A later model with a more powerful engine or maybe even a more modern engine would make for a very nice car, in my opinion.

 

See the source image

From bestride.com a picture of a Cadillac XLR; this is another picture I have shown before. If I didn’t have a friend who had bad experiences with these cars, I probably would have purchased one instead of the Z4. (The Z4 may be an “ex car” by this time next week.) Again, like the Allante the XLR had major quality issues at first. By the time these were fixed the car’s reputation was permanently ruined and then the “Great Recession” was the last straw. I think the XLR has extraordinary looks and more than enough performance for the vast majority of drivers, especially in XLR-V trim.

Cadillac is experiencing an existential crisis. In 2005 Cadillac sales totaled about 235,000 and 1.4% of the US market. By 2015 those numbers had declined to 175,000 and 1.0%. In 2017 sales slumped further to 156,000 and 0.9%. The make is considered passé by younger consumers and the average age of a Cadillac buyer is almost 60. (Hey, I’m almost 60. Yeah, that’s the point.)

Maybe I’m way off base and out of touch with today’s automobile market, but just like I think Buick needs a halo car (I have suggested an improved version of the Solstice/Sky) I think Cadillac also needs a halo car, a vehicle to generate excitement and to help Cadillac stand apart. The company has shown some amazing concept cars and before the departure of Johan de Nysschen Cadillac announced it would be bringing the Escala to market as a production vehicle. Now, I don’t know.

What do you think? As always I eagerly await your comments. Once again I would very much like to “hear” from those north of the border in Canada.

#somanycarsjustonelife

#disaffectedmusings

Tuesday Medley

I couldn’t find a word beginning with “T” that meant the same as medley or miscellany. Alliteration thwarted!

Reader Maurice asked me if I could describe the process by which I chose my Z4, how it was funded, what parameters were met, etc. First, another picture of the car:

Yes, the picture is printed on something that could be used in a license plate frame. An aside: I am happy I live in a state that only requires a rear license plate. My wonderful wife’s 2015 Corvette would look strange with a plate stuck on the front.

OK, back to Maurice’s request. As much as I like the Z4, when I began looking for a car 6-9 months before I bought one the Z4 was not on my radar. I actually wanted to buy a car with an 8-cylinder, 10-cylinder or even 12-cylinder engine. The Z4 has an inline-6, although boosted to great power by twin turbochargers as well as after-market tuning by me and technicians once I had acquired the car. I wanted an automatic transmission (my views on auto vs. manual are well-known and have been written many times in this blog) and I wanted navigation. I also wanted a car whose looks greatly appealed to me.

While I was looking I began “diverting” funds to a savings account dedicated for the purchase. These funds came from savings that already existed, some sales of equity and fixed income holdings as well as income from my investment portfolio. I was going to pay cash for the car with some help from my wonderful wife. I haven’t had a car payment in 13 years; my wife has not had one for 16. I know most people do not have the resources to pay cash for a car, but borrowing money to buy a depreciating asset does not make sense to me.

Since I didn’t actually need a car I was somewhat of a reluctant shopper. While I COULD buy a car, technically I am a retired person on a pension so I was not 100% in on this endeavor. My compromise was that I was going to buy a used car. The last year a new Z4 was available the MSRP was $66,000. I paid a little more than a third of that amount for the car I eventually purchased. Why was I looking at all? Well, I thought a good-looking performance car would be at least a partial treatment for my malaise.

After a few months of “window shopping” I began test drives. One car that was initially on my list but was never test-driven was this:

See the source image

From cargurus.com a picture of a Cadillac XLR. I have always loved the way this car looks and even without the supercharger the V-8 engine gave the car credible performance. Why didn’t I drive one? A friend of mine told me that he had purchased two of them new and that both of them were re-purchased by Cadillac under our state’s lemon law. One of them had spent 244 days in the shop in one calendar year.

After test-driving some Mercedes-Benz products like the SL 500 and SL 550, I couldn’t pull the trigger. One of the Mercs had very bad brakes, which was a huge turnoff. My wonderful wife then said, “You like the Z4 so much, why don’t you look at one of those?”

Finding a second generation (2009 or later) Z4 with an automatic transmission and navigation AND that was not too expensive was difficult. The dealer where I bought my car was 70-80 miles from my house. My wife and I both drove the car and while it was obvious the car also needed brakes, at least in the front, it seemed to be in good shape. The car had just 42,000 miles on it, which for a seven-year old car is not a lot. After a little negotiating, I agreed to buy the car.

If you are a regular reader you know that the car has given me fits. It didn’t just need front brakes, it needed brakes all the way around. It needed four new tires, it needed rear wheels at $550 each. The rear wheels were actually cracked. The four buttons on the left side of the instrument cluster of the steering wheel didn’t work. Parts and labor for that job were over $600. I was so happy to have actually found a car that met my requirements I wasn’t as thorough as I should have been during the test drive. Also, I am convinced the previous owner did not take good care of the car and some of the manifestations of that were not obvious at first.

With all of the repairs in addition to the purchase price, I have still spent less than half of the MSRP for a new 2016 Z4. When the car is running and not leaking or sounding warning bells, it is ENORMOUSLY fun to drive. I also think it is one of the 10 or 12 best-looking cars ever.

I hope I haven’t bored you and that you’ve enjoyed my longest post so far. Please feel free to write about your experiences in buying/owning a car. Oh, I called the post “Tuesday Medley” because I was going to write about more than just the Z4. The best laid plans of mice and men often go awry.

Say it ain’t so!

https://carbuzz.com/news/why-a-ferrari-dino-will-sell-better-than-a-ferrari-suv

A well-written, well-researched piece about why Ferrari should not join the SUV parade but should introduce a modern Dino model. (However, as pointed out in the CarBuzz article, a Ferrari SUV seems inevitable.)

Exotic car companies are stuck between a rock and a hard place: trying to make exclusive cars AND trying to make enough profit to stay in business. In the US, the different CAFE standards for SUVs and small trucks dovetail nicely with the shift in the American market towards those kinds of vehicles (or maybe it has played a part, I don’t know). I am still hoping it’s not a permanent trend, but it could very well be. This trend is good for car companies as the profit margins on SUVs and pickup trucks are quite healthy.

As I wrote in connection with the piece on the Cadillac concept car (https://disaffectedmusings.com/2018/02/21/build-this-car/) I don’t understand how a wealthy country with a lot of empty nester families buys so many non-car vehicles. That’s one reason why this car didn’t sell.

See the source image

From cargurus.com a picture of a Cadillac XLR. A great concept and a beautiful car, but not great execution—at least, not at first—and bad timing/pricing for Cadillac. An aside: hey Cadillac, get rid of the three-letter model names!

If you like exciting cars, don’t just wish you had one; buy one if you can afford it. Otherwise, they won’t be available.