The term 'Bygone Olds' refers to two classic cars from the early 20th century, the REO (3 letters) and the ALERO (5 letters). The REO was a brand of automobile manufactured by the REO Motor Car Company between 1905 and 1975. It was known for its durability and reliability, and was popular among farmers and small business owners. The ALERO was a luxury car produced by General Motors from 1998 to 2004. It was known for its sleek design and powerful engine, and was popular among young professionals.