Insurance Agent Forum

2005 Nissan Altima. When I bought it, it was the first new car that I had ever owned. I have to say, I've been very happy with it! I've put about 60,000 miles on it, and haven't taken it in for anything major yet. My wife has a 2004 Hyundai Sonata... which we hate. Looks like we'll be selling that one soon though and getting something larger. We'll have kids eventually... and need more room when we travel. The damn dog takes up the entire back seat right now! haha...

[CT Insure Guy]

Originally Posted by healthagent

There's not a bigger waste of money in the country then cars.

Well again, it's a matter of preference and also what you're passionate about. However, I would vote for MANY other things as bigger wastes of money, namely because these don't also provide a means of transportation:

1. Expensive Jewelry (including "grills"...good God what is THAT about??)
2. Face lifts/plastic surgery for cosmetic purposes
3. Monstro Televisions in multiple rooms
4. Lottery Tickets
5. Mega Life and Health (hee hee)
6. Extended warranties
7. Designer Clothing
8. $9 beers at ball games, concerts
9. Tattoos/body art
10. Credit Cards (buying anything that's not an asset and paying interest)

Hey, I am all for spending what you can afford on whatever makes ya feel good if no one gets hurt, but these are certainly bigger wastes of cash than an automobile, even a higher end one.

[CT Insure Guy]

Originally Posted by nate124

2005 Nissan Altima. When I bought it, it was the first new car that I had ever owned. I have to say, I've been very happy with it! I've put about 60,000 miles on it, and haven't taken it in for anything major yet.

My very first BRAND NEW car was also an Altima, a 1995! I followed up with a 1998 and same thing, never any problems...great car. Nissan has very good overall reliability.

[Newby]

Originally Posted by CT Insure Guy

Well again, it's a matter of preference and also what you're passionate about. However, I would vote for MANY other things as bigger wastes of money, namely because these don't also provide a means of transportation:

1. Expensive Jewelry (including "grills"...good God what is THAT about??)
2. Face lifts/plastic surgery for cosmetic purposes
3. Monstro Televisions in multiple rooms
4. Lottery Tickets
5. Mega Life and Health (hee hee)
6. Extended warranties
7. Designer Clothing
8. $9 beers at ball games, concerts
9. Tattoos/body art
10. Credit Cards (buying anything that's not an asset and paying interest)

Hey, I am all for spending what you can afford on whatever makes ya feel good if no one gets hurt, but these are certainly bigger wastes of cash than an automobile, even a higher end one.

I totally agree with a lot of what you're saying. I understand the desire for a cool car and it does provide a function you already need. I have NO understanding why anyone would pay ANY real money for jewelry. It does nothing for me.

I have totally changed my opinion from yours on extended warranties (for certain items.) laptops, GPS, treadmills etc.

Credit cards...I pay EVERYTHING with those and just pay it off each month. Great for expense tracking and security.

Cosmetic surgery...I don't have any but my opinion on that is...if you can touch them...they're real! Just don't go overboard.

[healthagent]

Hey, I'd also like a really cool car and plan on buying on. I'm in love with the 7 Series. If you want to maximize your money, but same year used. You can't imagine the number of people who buy a new car and it gets repoed a few months later. They took the depreciation hit.

If you really put in a lot of work, or probably just get lucky you can buy a "demo" or a used car that was never driven!

Most new car lots give their sales force demos to drive around. Why would a Ford dealership want their salesmen driving around in Toyotas? Normally these demos are sold right before they reach the max mileage allowed by the DMV before they must be labled "used." You can buy these below invoice.

In other very rare cases financing falls through on a deal and if the finance department has already titled the car they're screwed - it's now used. We had a few cases every year where financing initially got approved, car got tags on the spot and the owners drove off. A week later the dealership gets a letter from the bank - something on the app doesn't match up and now they need "stips" - proof of pay, etc...If the owners tweaked the app they yank the car back.

[midwestbroker]

The problem with cars is that there are a lot of people who extend their budget to get the car they want, not the one they can afford.

When I was in the auto biz, there were lots of people with nice cars that could not afford to repair them. Rule of thumb, the more expensive the car, the more expensive the parts.

Are they a waste? Depends on if you strained yourself to buy the car. If you do in home appointments, you want something that is presentable, not too over the top, and that will not leak oil on their driveway.

What I love is driving through trailer parks and seeing the brand new Lincoln Navigator and Lexus in the driveway.

[healthagent]

Great post Kyle. What's more telling is driving through neighborhoods with $600,000+ homes and noting that about 95% of them just have "regular" cars - no Mercede's, no Beemers, etc....Says a lot about people who understand money.

[Macdaddy]

Originally Posted by Kyle Henson

What I love is driving through trailer parks and seeing the brand new Lincoln Navigator and Lexus in the driveway.

I was in the mobile home biz for 8 years and never saw that!

[Macdaddy]

Originally Posted by healthagent

Great post Kyle. What's more telling is driving through neighborhoods with $600,000+ homes and noting that about 95% of them just have "regular" cars - no Mercede's, no Beemers, etc....Says a lot about people who understand money.

Not necessarily. Fact is most of these folks are so strapped do to the fat mortgage payment they can't afford a nice car.

Regardless of the reason, the home is the only item that will appreciate, so if your going to be buried, be buried with a mortgage on an appreciating asset.

[healthagent]

I know 4 people in my life who I consider to be extremely financially secure and one person I consider to be "rich." The person I consider to be "rich" drives a Ford Focus. The rest have regular cars.

I also have two friends who own luxury cars. Both are in incredible financial trouble right now. I posted this months ago but I have a friend with a S-class Benz, the tires are shot and he can't afford new tires so it's benched right now and he's driving his Astro Van. Insane.

[salpro22]

Originally Posted by healthagent

Great post Kyle. What's more telling is driving through neighborhoods with $600,000+ homes and noting that about 95% of them just have "regular" cars - no Mercede's, no Beemers, etc....Says a lot about people who understand money.

What does that say Freud?

[Slick]

I own a '94 s10. It's more of a toy than a driver, so most of the time it sits in the garage with good intentions.
Currently I am driving a 4 door Malibu. I really look like an insurance agent driving this ultimate declaration of boredom, but it's a friends that has no room for it so I'm doing them the favor of borrowing it.
I'm currently shopping for a Probe GT. Modifications will include a 400hp turbo setup before it goes into service. Total investment; about $5k.

[healthagent]

I actually have to buy a car in a month. My son finally goes to school and my wife's been at home for five years. Starting September she'll go back to work and we're a one car family. I'm going to CarMax and anything they have on the lot for $10,000 or less....cash, is mine. Never in my life will I have another car payment.

Originally Posted by CT Insure Guy

My very first BRAND NEW car was also an Altima, a 1995! I followed up with a 1998 and same thing, never any problems...great car. Nissan has very good overall reliability.

Yeah I love it! Everything from the reliability to the way the Nissan dealer handles things. We'll be buying another Nissan in our life, that's for sure!

[midwestbroker]

Greatest car ever:

Shelby cobra

[senior-advisor-indiana]

Worst car ever.......99 alero, or any alero for that matter. Best car ever...as far as reliabilty is my 2000 saturn. I haven't put a part on it yet besides brakes &tires. I take that back, I had to put a water pump on it. It has 140k on it. My alero has 100k and we put a new engine in at 60k.

[senior-advisor-indiana]

I do want a BMW though.

[healthagent]

Me too - 7 Series.

[arnguy]

I put a 2008 Dodge Charger V-8 Hemi Engine w/Police Package on my "wish list" just like what NYPD has ordered so I can tool at 140 MPH on the turnpike!