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zach3
Zach
Premium
join:2000-05-04
Saint Louis, MO

[Help] History of Cadillac Incentives

I remember back in 1964 when I was an Engineer’s Aid working on the New Interstate Freeway going through Indianapolis the head Engineer that I worked for telling me a story about his Cadillac and how his first investment was his greatest in the car.

His story went something like this. He told me that he purchased his first Cadillac back in the early 50’s and then he always bought a new one every 1? Or 2? Years for either $1K or $2K. It was a factory deal set up by GM at the time to insure repeat business.

I am wondering if any of you have ever heard of such a deal. Yes, he was a jokester but had no reason at the time to be telling me any tails. I remember it as an explanation as to how he managed to afford such an expensive car at the time. My guess is that a Cadillac in those years was going for 10-12K could have been a little less but I don’t know for sure.

Any recollections out there???

Thanks,

Zach

guppy_fish
Premium
join:2003-12-09
Lakeland, FL
kudos:3
I bet it was a way to explain away buying car way above what is visible income would allow ...

zach3
Zach
Premium
join:2000-05-04
Saint Louis, MO
Guppy_Fish,

Could have been. I was 19 years old at the time and a gullible farm boy. I was making about $400/Mo for summer help during my college years. Not bad money at the time if I recall correctly.

Thanks for the response!!

Zach


mattmag
Premium,ExMod 2000-03
join:2000-04-09
NW Illinois
kudos:3
reply to zach3


What I can tell you is that there is no such thing as a "factory deal". It would be against all franchise agreements that I know of. Even factory executives and technical reps who are given vehicles to drive take delivery through a dealership.

The only options I can think of would be a lease option, and perhaps a "standing deal" from his dealer for a regular trade. I doubt however it was for that small of an amount, even then.

zach3
Zach
Premium
join:2000-05-04
Saint Louis, MO
Matt,

Thanks for the reply. Could have been with the dealer for all I know.

I was driving a 64 Ford Falcon at the time and I paid about $2000 dollars new for it at the time. Drove that car until 1969 and had over 100,000 miles on the car when I traded it in. Never had a lick of problems with that vehicle.

Thanks Again,

Zach


CylonRed
Premium,MVM
join:2000-07-06
Bloom County
reply to zach3
I can't imagine the discount was that high but GM has offered discounts to employees and suppliers for a number of years. Some have been incredibly good. Living in a GM town - all employees could generally afford new cars every 2 years. I have a fiend who bought 2 Saturns and a Tahoe on EDS discounts and saved $3-5 k each time.

A way to market cars and ensure the factories to be a bit more busy...
--
Brian

"It drops into your stomach like a Abrams's tank.... driven by Rosanne Barr..." A. Bourdain

zach3
Zach
Premium
join:2000-05-04
Saint Louis, MO
CylonRed,

Remember this is going back over 40 almost 50 years and times were totally different and so were the costs of vehicles.

I had a friend of mine that contacted me today when I sent him an email on this same subject and he told me that there were special deals and he was going to check with some of his old friends. By the way he is 92!!

He told me that in 1955 he purchased a Cadillac for $5000. He was in Honolulu and picked it up in the states drove it to the West Coast and had it shipped over to the islands. So he didn't qualify for any deals.

It will be interesting to see what he finds out.

Most of my information is leading me to believe that a deal similar to what I posted about would have been done by the dealer.

Thanks for your response.

Zach


CylonRed
Premium,MVM
join:2000-07-06
Bloom County
I know how long ago it was - no issue there but that is still a pretty steep discount and I don't know if the discounts in the 70's were that steep. The discounts they had in the 70's were good but I don't they were 50+% off....
--
Brian

"It drops into your stomach like a Abrams's tank.... driven by Rosanne Barr..." A. Bourdain

zach3
Zach
Premium
join:2000-05-04
Saint Louis, MO
Yes it seems like a pretty steep discount to me also but the $5000 was in 1955 and I have no idea what a 1964 Caddie was going for but I am sure it would have been more.

Hopefully someone will come along with more information!!


mkt624

join:2000-11-09
Ardmore, OK
reply to zach3
In 1964, Cadillac production and sales set records for the third consecutive year. While exterior styling changes were modest, all Cadillac's were powered by an improved 429 cubic-inch engine. Rated at 340 horsepower, this was the most powerful engine yet offered in standard production Cadillac's and had a piston bore of 4.13 inches and a 4.0 stroke. The Series 62 coupe came equipped with GM's standard Hydra-Matic transmission. New comfort and convenience options included a completely automatic thermostatically controlled 'Comfort Controlled' heating and air-conditioning system. Theoretically, the owner could set the Comfort Control to the desired setting upon taking delivery and never touch it again as long as they owned it. Factory air was a $474 extra-cost option. 1964 would be the last year for the Sixty-Two Series and the Two-Door Coupe was advertised as Cadillac's 'most affordable' model.

It weighed 4,475 pounds and had a suggested retail sticker price of $5,026.

Cadillac's record 1964 production was somewhere in the neighborhood of 166,000 units of which 12,166 were the Series Sixty 62 Coup.
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As seeing the original prices was around $5,000 then it is very possible he could have gotten the prices with dealer discounts and incentives along with any deals he could have worked out with the dealer.

zach3
Zach
Premium
join:2000-05-04
Saint Louis, MO
Thanks mkt624 for you information. My how times have changed!!!

Zach


Lone Wolf
Retired
Premium
join:2001-12-30
USA
kudos:1
Reviews:
·Verizon Online DSL
reply to mkt624
said by mkt624:

In 1964, Cadillac production and sales set records for the third consecutive year.

You copied and pasted that entire text from this website, »www.conceptcarz.com/vehicle/z162···lle.aspx.

You should give them credit.


mkt624

join:2000-11-09
Ardmore, OK
sorry, your right my bad!