In my area (Sacramento) 97 out of every 100 agents I meet have a fairly new luxury car... most have BMWs, followed by Benz and then Lexus. Cadies are coming on strong here now as well.
I'm the only insurance person in Sacramento that does not drive a Lexus, Benz, or Beemer (even though I can afford one). I'm a practical guy and I have a 2004 Honda Civic... gets me where I need to go... not fast and not in style, but fairly safely and cheaply.
When I go to a NAUH/SAHU event, or a carrier 'road show' and I see other agents in the parking lot or high-rise garage, the other agents show me these long, sad, somber faces ... and express great pity that my business is so bad that I have to drive a... (god forbid) a Civic and not a Benz C or BMW 5xx.
I bought the Civic for cash.
My bet is that they are paying theirs off or on lease. But I don't know for sure.
Do you think clients care? I would not drive up in 1997 Ford Escort... but is anyone really impressed with the high-maint, high-priced rides? Business has been good and for most of my life I've bought a a new car every 36 to 48 months or so and... 2008 looks like a good year as I expect there to be a recession which will bring out some heavy discounting.... and perhaps super-favorable financing.
(Life lesson: Unless you get a great deal... meaning rock-bottom (zero?) interest rate WITH a HUGE discounted cap cost... never finance anything (like a car) that gets worth LESS over time. Save up the cash and buy it outright.)
Do agents really NEED a $65,000 car?
What's in your garage? I'll bet it's a lot nicer than a 2004 Honda Civic!
Don't need speed, need utility and the ability to cart around long objects such as surfboards. The finest ride in the world, a station wagon.
I did see a beautiful new S550 last night on the freeway. I practically cried when they blew one up in "Michael Clayton". And I go by what my mechanic says about Audis (no offense, TXI, just plan to replace and upgrade every now and then).
(Life lesson: Unless you get a great deal... meaning rock-bottom (zero?) interest rate WITH a HUGE discounted cap cost... never finance anything (like a car) that gets worth LESS over time. Save up the cash and buy it outright.)
Al
LIFE LESSON 101.
I recall a posting from John P. about his friend with a new mercedes who could'nt afford new tires. So the car stayed in the garage.
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Make sure that brain is in gear before operating mouth
I currently drive a 1995 Lincoln Towncar and I love everything about the car. I originally thought about purchasing a S 500 next year, however, I have changed that idea and am currently debating between a used 745 or Audi (2002 or newer).
I am not a fan of leasing, although I can see the appeal to some people.
A car is only as important as the perspective of the person you are talking with and your own idea as to what you want. Here's my rule of thumb. Never spend money on a car that exceeds your annual income or purchase a house that exceeds 8X your annual income. Invest the money instead.
People making 40K a year, leasing a 60K Mercedes or Beamer crack me up. I'm all for material possessions that make me feel good and proud (w/in reason), but there is something to be said about "experiences" that make you feel great.
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[COLOR=#000066]"Tell me and I will forget. Show me and I will remember. Involve me and I will understand." Confucius
I have a '00 Pontiac and can't say I've lost a sale because of it. I have nothing against luxury cars if it's a certain percentage of your income. It owning a Benz stupid of you make $300K a year? I don't think so. Is owing a Benz stupid if you're struggling to make the payments? Yep.
However:
*Do you buy a brand new Honda or used Beemer? That's personal choice. Maybe you can buy a new Honda for $22K or buy a 4 year old 5 series for the same amount. That's personal preference.
*Buy the new Honda or lease a Benz? Again, personal choice. If you're willing to spend $300 a month on a car payment and that's very comfortable for your budget you can argue that leasing the Benz for the same payment isn't a bad idea.
------------------------------------ Health Insurance Agents: Training, Support, Discounts, E&O for $440 www.ihiaa.com
I have a '00 Pontiac and can't say I've lost a sale because of it. I have nothing against luxury cars if it's a certain percentage of your income. It owning a Benz stupid of you make $300K a year? I don't think so. Is owing a Benz stupid if you're struggling to make the payments? Yep.
However:
*Do you buy a brand new Honda or used Beemer? That's personal choice. Maybe you can buy a new Honda for $22K or buy a 4 year old 5 series for the same amount. That's personal preference.
*Buy the new Honda or lease a Benz? Again, personal choice. If you're willing to spend $300 a month on a car payment and that's very comfortable for your budget you can argue that leasing the Benz for the same payment isn't a bad idea.
As long as you're not a control freak leasing is the way to go.
I usually drive either a '94 Lincoln Town Car or a '86 Mercedes 560SEL. I plan on selling both shortly to buy either a '96-'98 Mercedes E320 or a '00-'01 Cadillac Deville.
Driving a reasonably late model luxury car projects a successful image, which is why most agents drive 'em. Personally I HATE BMW's, until the ugly bangle models, they were usually ripoffs of a previous generation Mercedes. My dad always drove a practically new benz, and he always called BMW's a "poor man's mercedes", although, I understand some new BMW's cost more than the comparable mercedes models. I grew up in a benz, so I am going to try to get one in a few months when I sell the cars I have.
On the other hand, I like driving-riding in the caddy, and if I can't swing the benz, I'll take the caddy. Oh, I always pay cash.
Dave
------------------------------------ 3rd Generation Independent Agent- L&H Only
REALLY THOUGH....I drive the kia because I do not meet my clients most of the time....I run kids back and forth to school and work.....go to my post office box and skateboard......cheap on gas and only fill up once a week...if I drove a BMW I would only be trying to impress myself......
Originally Posted by GreenSky
Didn't take you for an SUV driver. If I knew it was you, I never would have parked my car there.
Funny TX.......hey I PM'd you a while back asking you who you recommend for exclusive telemarketed leads and never heard back........you know I am also here in Houston
Audi, A8L Quattro , 12 cylinder, all wheel drive - I'll put it up against any Benz or BMW on the road...
Definitely an impressive car, but certainly not as competitive handling wise as the 7 series, nor does it intend to be. Audi has AWD systems and interior styling pegged, and they have made great strides to become more "sporting", but they are not BMW caliber as of yet. They still haven't figured out steering properly, they all tend to understeer (even the S and RS models) and they are not real good about proper suspension set ups in relation to driving style of the car buyer they target.
I have owned 3 Audis (including recently a V8 S4) and while I liked the AWD and the styling, the driving impression was decent at best and the steering felt benign. I have had 8 Bimmers now (currently a 330Ci) and they just know how to engineer a car that wants to drive and communicate with the road and the driver in a superior fashion.
Don't get me wrong,I love the A8, especially with that W12, but unless I needed the AWD I would go to the 7 series. As for MB, pretty, and pretty damn powerful, but not really in the same league as Audi or BMW when it comes to driving dynamics. But again, pretty as all hell!
REALLY THOUGH....I drive the kia because I do not meet my clients most of the time....I run kids back and forth to school and work.....go to my post office box and skateboard......cheap on gas and only fill up once a week...if I drove a BMW I would only be trying to impress myself......
Well sometimes it's OK to impress yourself, and that's exactly how I feel.
When I was driving an M3(BMW) I used to get many comments, looks, raves, etc and that was always nice but I used to say to some of the kids who were fawning "you know the fact is it's just the best driving car out there as far as I'm concerned, and if it looked like an Aztec I'd still be driving it."
It really just depends on what you like, but for me it's a combination of performance and handling and I feel like BMW leads the pack in that regard. I also do track events at Lime Rock/Skip Barber, autocross, etc and it would be hard going back to day to day driving while piloting a Taurus, etc. It makes me crazy when I meet someone who owns a BMW and I start talking to them about it and I hear "Well I just make sooooo much money that I figured I deserved to drive a Biiimmmmmmmmer, but I don't really even know what model this is." I am paraphrasing of course, but you know what I mean.
If someone just wants to have others admire them because of what they pull into Dunkin Donuts with then they have issues. Drive what inspires you.
What's your ride?
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