Start your engines:
Used car czars and racing pair are ready to sell you the car of your dreams


From the December 22, 2000 print edition of
The Business Journal


Daniel Pearson


DURHAM ­ At first glance, Atlantic Auto Exchange seems like any other used imported car lot.

And in many ways it is. There are at best a handful of people mulling about the grounds, peeking inside cars through the glare on the windows and asking questions about previous owners and warranties.

Except on this lot, one of the salesmen is Chip Stabler, a national champion in the Sports Car Club Association's Touring Challenge for Corvettes.

Stabler, who co-owns Atlantic Auto with fellow race car driver Holland Hale, won the TCC points series this year ­ the equivalent of winning an NCAA title.

"I still have a bit of a buzz about it," he says. "It was a good year. We had a good time."

Stabler says he's been interested in cars from the moment he could speak.

"You can tell from his drive and passion that it comes from deep inside," says Kelly Stabler, Chip's wife of 12 years. "He has an inner drive that I think goes beyond a hobby. It's not like going fishing for the weekend."

The 40-some imports, sports cars and sedans on the Atlantic Auto Exchange lot on Guess Road near the I-85 intersection reflect the passion of both Stabler and Hale. Fuel efficiency is not a selling point and neither is a fat warranty for the cars, which range from $10,000 to $30,000. It's all about having fun behind the wheel at Atlantic Auto and it's an approach that seems to work ­ Stabler says half of their customers are repeat buyers.

"We don't look at cars as just a commodity," Hale says. "We can appreciate what they are designed to do, how they do it, the way they feel and the way they drive."

Hale, a former North Carolina Auto Cross series champion who currently runs in the BMW Car Club of America racing series, thinks all car owners should learn more about their vehicles by taking lessons at a high performance driving school.

In fact, it was the desire to learn more about their own vehicles that resulted in Stabler and Hale meeting. Stabler started running his Datsun 280Z in an inexpensive time trial series sponsored by the Wilson-based Tar Heel Sports Car Club back in 1983. Hale was also a member. Their friendship grew and Stabler joined Hale at Atlantic Auto in 1991, two years after the lot opened.

After Stabler graduated in 1987 and began earning more money, the level of his commitment to racing continued growing, culminating in the $35,000 purchase of a 1995 Corvette a couple of years ago.

"I race for fun," Stabler says. "I'd be lying to you if I said I don't care how I do, but you won't usually break even in sports car racing. We do it at a high level but at a point where we don't have to get sponsorship. So, if I don't go to every race, or if I don't win every race, I have nobody to answer to."

Winning was not a problem for Stabler this year in his blue and silver car. In 10 races, he had three wins, two top-ten finishes and five top threes.

To cut down on basic expenses, not including travel, it usually costs between $500 to $800 per race if an engine doesn't blow ­ usually two races are run each weekend. There are small purses to be won at the events, but not enough for Hale or Stabler to quit their day jobs and race full-time.

Stabler just bought another Corvette that he plans to rent to drivers on the circuit next year to help offset more of the costs, one of the largest of which is fuel. Stabler's car takes 115-octane gasoline. Pumping that petrol into a 450 horse-power engine at $5 per gallon is pretty spendy.

"I don't think I'm super competitive, but I'll definitely be doing this same thing next year," he says.