Yeah, they are getting pretty big. A lot of expensive cars are parked outside. The even more expensive models are inside.

Land Rover/Jaguar had a Ferrari 550, Lamborghini Diablo VT, and a Rolls Royce Phantom parked outside yesterday...

 

I said it before and I will say again. This state is the worse state to buy high end cars period. Thank god there 's the internet...

 

Yes.

 

they aren't getting big because of great business tactics. they get bigger because the owners inherited millions of dollars and are playing. they don't need to turn a profit they just do it most likely to say they own all of these cars. grand kids of big, big, big family in seattle area. LOTS of $$

 

The problem is, their family is eventually going to run itself ragged if they keep blowing money like this. I don't see how park place can even break even considering how long it sits on cars.

My company loses hundreds of thousands of dollars a year with trucks that sit on the lot for long periods of time. It costs us about 800 a month per month per truck that's sitting on our lots.

(200 trucks in our inventory X 800 dollars per truck) x 12 = $1,920,000 of pure overhead. And we don't spend nearly as much on detailing and prepping the car as they do.

My company barely see's any revenue from truck sales honestly. We make the majority of our money through parts and service, we move new trucks and wait for stuff to break and start getting money back from warranty work etc. I don't think parkplace has a real service department, so they don't have this option

When shady car deals happen like this and when they're asking too much for the car. It generally means they're in **** poor condition and it's an act of optimism fueled by desparation. Which tells me that they're not doing as well as they'd like to portray.

If they were doing well financially they would be able to budge more on price to move more on cars. But when they're stuck on the outrageous prices, it's either on consignment and the owner won't budge or they're neck deep in the car and they need to squeeze every penny out of it.

These guys give the good/credible car salesmen a bad name.

 

[quote=mitchelrl;1564170]The problem is, their family is eventually going to run itself ragged if they keep blowing money like this. I don't see how park place can even break even considering how long it sits on cars.

My company loses hundreds of thousands of dollars a year with trucks that sit on the lot for long periods of time. It costs us about 800 a month per month per truck that's sitting on our lots.

(200 trucks in our inventory X 800 dollars per truck) x 12 = $1,920,000 of pure overhead. And we don't spend nearly as much on detailing and prepping the car as they do.

My company barely see's any revenue from truck sales honestly. We make the majority of our money through parts and service, we move new trucks and wait for stuff to break and start getting money back from warranty work etc. I don't think parkplace has a real service department, so they don't have this option

When shady car deals happen like this and when they're asking too much for the car. It generally means they're in **** poor condition and it's an act of optimism fueled by desparation. Which tells me that they're not doing as well as they'd like to portray.

If they were doing well financially they would be able to budge more on price to move more on cars. But when they're stuck on the outrageous prices, it's either on consignment and the owner won't budge or they're neck deep in the car and they need to squeeze every penny out of it.

You don't understand HOW MUCH $$$$. They don't care about the coin. Lots of cars up there are consignment and they have told owners so much for their car and they sign them up for 90 day contracts so they can hold them a while. They don't own them

 

That's an understatement .. Chris Bingham is one of Team Seattle's drivers, and will be campaigning a Porsche GT3 Cup car in Daytona for them, and has a very impressive racing resume. His foundation has also personally guaranteed $1M over the next 10 years for Team Seattle and the great cause they support -- uncompensated care at Childrens' Hospital. He's a good guy, but I'm sure that . I haven't really had much dealings with PP; so don't really have an opinion one way or the other. Only comment I'd make about PP is that compared to directly-opposite BMW Bellevue's sales-dept ... the guys at PP that I've dealt with are angels

Anyway, Chris's GT is a gorgeous example of the car. Not where I'd like to park ~$400k personally, but given access to the Bingham trust -- well, that's a different story

 

I actually had a good experience at Park Place. When I was selling my C2S, I got 8 grand more from them than what Barrier had offered me. Also the sales guy was easy to work with and no drama.

About the guy who bought the Gallardo from Florida, well what he did was just foolish. Who buys a used car for a 150 grand without looking at it?

 

BMW of Bellevue is kinda worse than Park Place. When I went there, a bunch of the sales guys were in the back, a couple of buyers were looking at cars. No one helped.

 

If you guys need anything from BMW of Bellevue, let me know. I know a few of their employees.

 

I know what you are saying mitchel about carrying costs etc... the main difference is that 60%+ of PP cars are consignement... so no inventory costs...

Mark must be dead on right... they must have a ton of green...

 

Maybe the sales of Lotus Elise's keeps them afloat.

 

I have bought 2 cars from PP. Good experience both times. One was a new 2005 Elise. Bought the car over the phone from the east coast, flew into town and drove it back. The car was new, but the sale was flawless. Dealt with Ryan V. Great guy and is now the sales manager I think.

Second car was a MB SLK. Prepped the deal with Ryan before I showed up on the lot. He set me up with Tim Mills. One problem, the car was on consignment and did not have the second key or the CD changer cartridge it was supposed to. Tim contacted the owner, she said she lost them.

I did the normal due diligence stuff, Carfax, personal inspection, etc. But I am kinda handy around cars. 15k miles later, the car is still running perfect.

I will say that the service department needs new leadership. everytime I deal with them I find that I need to step in as the project manager. As a former military officer, I don't have any problems with taking charge, but they'd be more profitable if they had a better method/person tracking that side of the business.

For example, I called them told them I needed some parts. They said they'd get back to me. If they would have, they would have made some money, they didn't. Now I only go there for parts, if I really can't get it anywhere else.

Hey maybe, one of these days a few of us can go into business and compete with PP?

I will say on a personal note, I have been around Chris, Scott (Scooter), and Dave Bingham. They do have a bit of money but they are pretty nice people IMO. Even when they didn't have to be. I think Dave talked to me for like 20 minutes and I am young and poor. Plenty of people around at the time, with money and status that he could have been rubbing elbows with. Instead, we just chatted about cars and a wreck he was in years ago.

 

You guys aren't hearing me. ENDLESS AMOUNTS OF MONEY................... nothing else needs to be said. As for the Binghams I know nothing but the mucho plenty stories about their private lives. I wouldn't say anything bad about them at all they just like to have fun. I would say that the car dealership can screw up whenever and it won't matter. They don't need customers to keep the lights on. The side of the family I know is nothing like their side. Quiet and reserved.
Park Place is a hobby and that's it for them. No financial reasoning behind them.
On the car side as stated above do your own check on the car your looking at prior to purchase from them. It would be in your best interest. H20 out.

BTW Mitchell Lotus sales x40 wouldn't keep that place a float.

 

It's one of the owners sons car. It's not for sale.

I tried.

Seth