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Rick Schmidt – Ask Rick:
It is May and time for a May Day celebration, if we can figure out what May Day is.. It is also time for Memorial Day to remember and mourn over those who gave their last full measure in protection of our rights and freedoms as Americans. In most small towns across the country, parades will be held by former and current service men and women to remind everyone just how much was given for those of us who remain.
Rick’s Take On Upcoming Tariff Related Price Hikes:
Rick knows that the price hikes are coming but cannot predict how high or how widely they will reach. There are many businesses taking advantage of the situation and using it as an excuse to prematurely raise pricing that is unwarranted. The tariffs have not been implemented long enough to impact current inventory and yet you find suppliers implementing surcharges reflecting a ten of fifteen percent tariff fee that are based on nothing. There is also a lot of uncertainty about the future and companies are making sure they can change their prices as quickly as possible. A strategy in that is the elimination of paper catalogs so that whatever happens they can raise the prices at a moments notice. NPD still prints paper catalogs and that means they have to commit to holding prices fixed for a longer period of time than online only catalogs. This lets car restorers plan easier for future costs and not get hit with unexpected price hikes.
Rick’s Take On Failed Car Deals:
The NPD collection of classic cars is vast and contains a wide variety of vehicles. Listeners wanted to know if Rick or his dad have ever had a deal where they wished they had not made the purchase. There were a couple vehicles where the build quality was not up to Schmidt standards and after they were done fixing it up they were upside down on investment to value, but Rick says that they still had a very nice car and the loss was not that high. He remembers his dad buying up a lot of 1970’s era Lincoln Mark IV and Mark V’s because the market seemed low at the time but decade later the value, once adjusted for inflation, is still about the same as when they purchased them. Rick says they were all low mileage vehicles and very nice quality and you can not find them like that now, so in the end they some very nice cars even though the investment value was not realized.
Rick’s Take On Best Car Jobs For Kids:
Another listener question concerned the best employment opportunities for teenagers. When Rick was young he worked many jobs in and around cars. He did detailing work for a shop and it was a great alternative to a fast food or retail job. He said it was also a way to get away from doing the menial broom pushing jobs and it had a level of skill to it that meant it had a better paycheck. A detailing job also gets you into locations that lead to job opportunities to learn and grow more mechanical and technical skills. Recently the Kibbe and Friends Show (our sister show to TMCP) interviewed “The Detail Kid.” He is the youngest certified detailer in the world when he started at nine years old! Rick’s opinion was that this was great because the kid had the chance to make a lot of money before he had to start paying taxes on it when he is older.
Rick’s Take On Tariff Hike Investment Cars:
You’re doing what you shouldn’t do – buying speculative investments out of fear that tariffs will drive up inflation. Of these this under $50K vehicles, which one will net you the highest percentage return one year from today? You can drive and improve them as much – or as little – as you wish.
Car #1: 1989 Camaro Z-28 with only 121 miles on it. Just Sold for $100,000
https://www.
Car #2: 1967 Oldsmobile 442. Asking Price $43,000
https://www.hemmings.com/
Car #3: 1986 Toyota Pickup. Sold for USD $22,000
https://bringatrailer.com/
Segment 2 – Same question as Segment #1….but with really expensive cars!
Car #1: 2023 Dodge Challenger SRT Demon 170. Sold for USD $134,000
https://bringatrailer.com/
Car #2: Porsche 911 Carrera by Singer. Sold for USD $1,050,000
https://bringatrailer.com/
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Dallas Kibbe Legends Car Update!
This episode featured the Dallas Kibbe Legends Car Racing Update segment! Dallas joined the show himself after his season opener race at Hawkeye Downs in Cedar Rapids, IA. He set the fastest lap and finished 3rd….and also did the “slide from the hill” to avoid a wreck!
If you would like to follow Dallas Kibbe Racing you can watch his stats and other racing information at:
https://www.facebook.com/DallasKibbeRacing
https://www.instagram.com/dallaskibbe_13/
https://www.tiktok.com/@dallaskibbe_13
MyRacePass.com/drivers/178661.
Check it out!
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This interview sponsored by our pals at National Parts Depot – your premier source for muscle car restoration parts!
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