Practical car for new advisor

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CFP2BE's picture
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Joined: 2004-12-20

I just accepted a position with a wirehouse and will be turning in my company car at my old employer, so I'll need to buy a personal car.  I want to buy a two-seater sports car, but am concerned about the utility of such a car in the event of taking clients/prospects to lunch or other such activities.  I think a four door sedan might be more appropriate.  I will be doing some retirement plan business and don't know if I might be taking more than just the biz owner out to lunch (i.e. other high-ranking employees, HR staff, etc.) from time to time, hence the possible need for a sedan.  I did a search for cars in previous threads, but I only found discussions on what clients might think about my choice of car.  I don't care what clients/prospects think of my car choice, but seek input on the practicality of a two-seater vs. a sedan for someone new doing a lot of prospecting and possible entertaining.Your thoughts are greatly appreciated.

JumpMan's picture
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Joined: 2010-06-08

You're better to buy a beater and then get what you want year three.  This is a tough job the first couple of years - keep your baseline exps. low and you'll be better for it.I honestly don't drive people around often but it happens from time to time.  Old people don't like getting into small cars.

B24's picture
B24
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Joined: 2008-07-08

Buy a nicer used car.  Nobody will know that you bought it used, and you can afford something a little nicer. 

Spaceman Spiff's picture
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Joined: 2006-08-08

You could probably pick up a nice BMW or Mercedes for $20K on a used car lot.  I just pulled up Autotrader.com and found a 2006 325i sedan with 50k miles in my area for $18,500.  Not a bad deal.  Your clients/prospects will see a nice car, but  if they question you on it you can tell them you paid less for that one than you could have for a new Ford Focus.  Then ask them which one they would prefer to ride to lunch in. 

BondGuy's picture
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Joined: 2006-09-21

Perception is reality. You should care what your clients/prospects think because their thinking guides their pocketbook. Show up in a Miata, and unless you're female you're gonna send the message that you are wimp. That, even though the Miata is one fine sports car. Show up in a Porsche and you're going to send the message that you are spoiled rich brat who's daddy bought him/her the car. At least that's what i think when i see twenty somethings tooling in a Porsche. And of course if it's a hot young chick driving the car, well guys ,we all think the same thing, right? Sorry! That car won't go over big with your peers as well. And, the  no Porsche edict presents a problem for sportscar owner wannabes. That is, past Porsche, there are no sports cars worth owning. So you might as well buy a beater KIA and get on with it!Seriously, you should care what your clients think. A sports car sends the wrong message. It is impractical as well. You may have to carry seminar materials, or ferry clients to lunch. You never know? Your first three years or four years are going to be low income, most likely. Any practical 4 door car will do. The less expensive the better. The better on gas the better. The cheaper to repair the better. My personal favorite, the dowdy Mercury Grand Marquis. Cheap to buy used  because nobody wants them, and comes with you can't kill'em with a stick reliability. Just good cars. And the fact that you just thought to yourself "Grand Marquis! You've got to be effin kidding!" is your first lesson in finding value in the markets.    I started out with a new VW Rabbit. It was new and it was cheap. Only option was AC. It was a radio delete car. After I made a few bucks I put a stereo in the car. I kept that car 4 years. It is also the last car I ever financed. Believe me when i say"On the showroom floor, cash is king!"Take my word for it, there will plenty of time and money for sports cars later on. Some of us car guys have blown more money on cars than we want to talk about. This biz gives us the ability to do that. Just don't tell our wives!!

B24's picture
B24
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I agree, sports cars are really only practical as 3rd or 4th cars (probably 4th behind the pickup as the 3rd car).  Honestly, something like a Ford Taurus (newer model), Chevy Malibu (newer version), Honda Accord, or Toyota Camry would be perfect.  Practical, nice enough that you are not embarassed of a (no offense BG) Grand Marquis, or look like a schoolgirl in a dinky sports car or econo-box.  If it's in decent condition, and you keep it clean, you'll have nothing to worry about.If you are into the outdoors, there are lots of SUV options.  Just don't go hogg-wild, cuz they can get pricey.  Skip the Suburbans (too big) or the SUV-wannabees (a wife's car).

I am legend's picture
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Joined: 2010-03-04

How about a '76 lime green Pinto??  Seriously, just drive something that the clients that you want would think is appropriate.  I agree with what BG and B24 have said concerning this.  I also agree with BG's assessment of the Grand Marquis, but wouldn't really want to have one although I did own a Crown Vic as a second car back in the 90's and it was the smoothest riding car.

BondGuy's picture
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Joined: 2006-09-21

You guys are under valuing the Grand Marquis. The new rookie can pick up a 5 year old Grand Marquis. The car will have, literally, only been driven on Sundays by a little old lady now departed. Her kids, with visions of BMWs dancing in their heads from the proceeds from mom's estate, look at the car with distain. They just want it gone. The rookie comes in, pays cash, and drives off. The rookie takes the car to meeting after meeting with the same result. The prospects take one look at the car and say " My grandfather had a car just like that one. You must be a very trustworthy person to drive one. Here's a check for two million dollars." The rookie keeps the car in primary serice for 5 years and then buys himself an M3. The old Merc, still lookin' good, is kept as bad weather car so the Rookie doesn't have to pony up for all weather tires for the BMW. Wouldn't want to get salt on the Bimmer! The Merc turns in another five years of service, helping the rookie raise his second hundred million in assets. The merc is old and now starting to falter. Our now very successful Rookie takes the Grand Marquis down to the local Demo Derby to give it a first class send off. And because the old Mercury is built like a brick shithouse, it wins the derby.  The old merc, having lived a full life, is bought by Porsche AG and  recycled.  The Rookie, now flush with cash, if a little slower on the base path, finds himself in a Porsche showroom. He touches the latest iteration of the 911 and says to the salesman, "this car just feels right. it's like I've known this car for a long time."  The rookie drives his old friend into the sunset. 

CFP2BE's picture
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Joined: 2004-12-20

Okay, so no two-seater sports car.  How about a two door convertible?  Would that be practical enough?  I'm leaning toward no (once again, driving prospects/clients around, so I might need a foor door) but I really want a convertible.  Thoughts?

meletio's picture
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Joined: 2010-03-19

Are you joking...what kind of car should you buy. If you are new in the business keep this in mind. There is an entire generation on younger investors that do not believe in the mkts as their parents and grandparents did. There is entire group of people 72-90 that will never ever ever buy any where close to the $ amount of equites that they used to, and there is entire middle class that is crumbling. Unless you have a substantial book it's going to be next to impossible to make a living selling fixed income products. If you are planning on creating an income stream off of managed accounts good luck. Clients patients are wearing thin paying fees for a flat mkt. So I would say ...what kind of car you buy should be your least worry.

Northwestern's picture
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Joined: 2010-06-01

Okay... What was your old car that you just turned in to your old employer? Did you do the same type of work there?If you are on the hook for maintenance and expenses (unlike your previous job) you won't want the sportscar. Compare the costs of tires. Anything V rated or higher for the sportscar is gonna set you back big. Sportscars are fun, but not for doing a lot of miles. The ride quality is not there. Then there is the issue of parking lot dings. Its a fact. This is an image business. If I'm a potential client I dont want Vinny the bull showin up in a sportscar trying to impress me. Conversely, I don't want you showin up in a 15 year old car from the back row at CarMax. You'll look broke! Remember, clients want stability. If you look like you cant make ends meet, how are they gonna trust you to help them?Its your choice. Personally, I would look at sedans with good appearance, low maintenance costs, good mpg's, and room for passengers.

CFP2BE's picture
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Joined: 2004-12-20

Meletio, I've been in the industry twelve years now.  I've worked in the retirement industry for much of that time.  Most of my tenure in the industry has been in the two worst bear markets since the depression, yet I've been very successful in all my endeavors.  I am finally getting around to building my own book.  Everything you say is correct, however, what we get paid to do is sell regardless of market conditions, which I know I can do.  People will always need products and advice, regardless of market conditions.  In fact, I've actually found people to be more receptive to advice when the markets are tanking 'cos the SDB firms convinced them they could do it themselves and they're seeing that they really can't.Northwestern, my company car is a four door sedan.  You're right, I did not pay for maintenance or gas.  In my gut I know I should buy a four door sedan, I'm just wishful thinking.  I'll probably break down and buy the sedan.  Right now I'm looking at 2 or 3 yr old compact sedans.  I just wanted input from people who've been there and done that.  It's like when your parents tell you something and you hate that you know they're right.  Thanks for all your input.

jackofalltrades's picture
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Joined: 2009-05-20

  Buy a reasonable car you can afford, but one you want... then get on the phone.... I've been in this business for over a decade and never worried about clients and my car...  If you are so concerned w/ the off event that a client may get into your car, go to Enterprise and for 40$ rent a midsize on the off chance they need a ride.Trust me, you will have enough shiate to worry about, this shouldn't even come into the hopper. GL

jackofalltrades's picture
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hahahaha they block out the word s-h-iat-e.... what if I am a shiate muslim..!?!?!

CFP2BE's picture
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Jack, you're right.  I don't need to worry about this, that's why I'm getting a sedan, so that this won't be an issue and I can focus on other more important stuff.  

BondGuy's picture
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Joined: 2006-09-21

Exactly, the last thing you need to worry about is a car. BTW, a convertible, like a Mustang, probably be OK, though not cheap.Meletio, thx for the drop of sunshine dude!!!

gethardgetraw's picture
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Joined: 2009-10-22

Buy the car of your dreams. How often does a client see you IN your car? They may see it in the parking lot, but there's no reason they'll think it's yours. Also, all this talk about taking clients/prospects out... that never happens. You make the money when you're by yourself in your office and on the phone. Don't be a puss. Once you make it, never forget who was the one who put in countless hours of cold calling, rejection, being poor for your first three years to be in the position you're in now. How I spend my money is personal, and I'd be very offended by a client who brought up the subject. The care I drive, the dinners I buy, or the suits I wear. That's up to me.

RDO's picture
RDO
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I would consider an Infinity G35 or G37 certified factory preowned.   My wifes G35 was a dealership loaner car with low miles.   We bought it for 23K.    It drives great, has fun power, looks nice, and Infiniti has rock solid reliability (they have ALWAYS been 5 star for reliability in Consumer Reports).   In my area the dealerships are absolutely top notch.  They treat us great, and they have a loaner car waiting for us for any service we decide to do with them.   I've driven a couple of G37 loaners and they are VERY fun to drive.   I'm sure there are other cars out there that have more power, but it will definitely peg you to your seat.   I personally just can't see any practical need for more power than that unless you plan on actually racing it.  Couple in the fact that the Factory preowned Infiniti's have a longer warrantee than the new ones and to me its just a no-brainer.

chickenfeed's picture
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Joined: 2009-02-06

Just found  a 96 Deville for $1500... 125K miles..no rust..

Spaceman Spiff's picture
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Joined: 2006-08-08

You should immediately buy it and put some 21" rims on that thing.  That would be sweet!

navet's picture
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Joined: 2010-02-25

Get what softie got(BTW softie is get-hard-get-raw), a pink caddie from a former MaryKay rep. It's a guy magnet!!!

N.D.'s picture
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Joined: 2009-07-14

two for two navet, what gives? as for the OP, who freakin cares? just buy a damn car and go to work.

CFP2BE's picture
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Joined: 2004-12-20

Hey N.D., You don't like the topic of the thread?  You didn't have to go open it, and you damn sure didn't have to respond.  Go read some threads you like.  Have a nice day.  

N.D.'s picture
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I like the topic of the thread but that was not what you asked in the original post. A "practical" car for an advisor is not a two seater, it' not a convertible nor a sports car. A "practical" car for an advisor is one that is nice enough that clients will not wonder why you drive a piece of crap but not so nice that they think they are paying for it even though they are. A nice four door sedan from a manufacturer that you know a little something about and can tell a story of why you like your "Malibu". For example, they built a plant in my hometown or my uncle worked at the dealership for 25 years. It's all about perception.Now if you want to discuss the weekend car that is a different story...

loneMADman's picture
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Joined: 2010-05-10

ND is right.  In our line of work, we choose to make our personal financial decisions a subject of some scrutiny.  It's all about the story.  It's not one story fits all, but the story should reinforce your brand.

BondGuy's picture
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Joined: 2006-09-21

Never show clients the toys.There are plenty of bland everyman cars that will fit the bill. For, someone entering the biz the smart move is the one with least impact on cashflow. It would be a bitch if a car entered into a rookie's sink or swim scenerio. it would also be inexcusable. Buy the least expensive car that you can live with for 4 or 5 years. Then upgrade. When you upgrade, if you buy a toy car, leave it in the driveway when going to visit clients or when going to client events. Nobody likes a showoff, less so if they think they are footing the bill. Lastly, a word about buying American. Depending on your market this can be important. If you are doing 401k rollovers with Assembly Line Joe he's going to like an MKS a lot better than an E350.Of course if your book is full of jerks, they are going to ask why you don't drive a BMW.

on my own's picture
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Joined: 2009-11-03

There are two ways to look at it. I agree with Bond Guy especially if you are new in the business.However if you have been in the business for a while and are middle aged...you can pull off a luxury car. I think at that point your clients like to see success. I have a 2004 Lexus 430 SC...A 2 person,hard top convertible sport coupe. I've taken clients out to lunch and I even let them drive it.  When I tell them I only paid 20k for the car...they always make the comment..."That's it." If your clients know that your sincere and ethical then they will feel good about investing with you and that you've had a measure of success. You just can't be cocky about it.I forgot a quote..."fake it till you make it".

BigFirepower's picture
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BondGuy wrote:Never show clients the toys.There are plenty of bland everyman cars that will fit the bill. For, someone entering the biz the smart move is the one with least impact on cashflow. It would be a bitch if a car entered into a rookie's sink or swim scenerio. it would also be inexcusable. Buy the least expensive car that you can live with for 4 or 5 years. Then upgrade. When you upgrade, if you buy a toy car, leave it in the driveway when going to visit clients or when going to client events. Nobody likes a showoff, less so if they think they are footing the bill. Lastly, a word about buying American. Depending on your market this can be important. If you are doing 401k rollovers with Assembly Line Joe he's going to like an MKS a lot better than an E350.Of course if your book is full of jerks, they are going to ask why you don't drive a BMW.  You are wise, and funny, a real asset to those around you. This forum is lucky to have you. In addition to your thoughts, I'd say that nobody is ever offended or underwhelmed by a half way decent pick up truck. Years ago, I was reading that the most owned vehicle by millionaires is, an F150 Ford p/u truck...For me, I'm an SUV guy. Yukon Denali. Nice, practical, blends in, gas mileage isn't great, but I only drive 700 miles per month. Previously, like this guy mentioned about earlier career, I had an Impala LS, drove it from new until 9 yrs old, was a really great car.   

BondGuy's picture
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Joined: 2006-09-21

THX BigMy daily driver is a 2004 Jeep Grand Cherokee. Pretty darn impressive huh?  Now, at six years old, rather than looking out of date, Jeep has just released the 2011 GC. It looks like my 04 with a mild restyle. Now i'm good to go for another 5 years with Sparky the Jeep.OK on used luxo but 20k too much to spend for a rookie regardless of age. Current model year Impala's coming off rental duty, most with less than 20k on the clock can be had for 12 to 14 grand. Starting in this business is a race. It's a race between your income, your assets, and your expenses. For the first few years your outflow will outstrip your income. Your net capital on hand will be the only thing keeping you in the cheap chair ML has provided you. More capital, lower expenses or some combo of the two will give a rook more staying power.

WiAdvisor's picture
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Easy...I would go with a used Volvo s60/s80.  They scream "I am conservative and safety conscious" and it is impossible to offend someone in a Volvo. They are *nice*, but not so nice that your clients are wondering how you can afford it. No offense to anyone who owns one, but they blend in to the background. Choice number two would be what BG drives, used Grand Cherokee. Same sort of situation. Nice and if kept up well, can look pretty new.  I am not sure where you are located, but advisors on the West Coast have different types of clients that those of us in the Midwest. Geographic location plays a big role in client expecations. There are top advisors in NY and NJ who ride in limos to work, partly because they can afford it, but also because of the amount of work they can get done while in the car for a few hours a day. That could never happen in the Midwest.  Anyways, good luck and be sure to tell us what you end up with.

A-Ro's picture
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I question dumping a lot money into cars anyway.  Seriously, they are the worst investment you can make.  If anyone questions you driving a non-luxury car...there's you answer.

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WiAdvisor wrote:Easy...I would go with a used Volvo s60/s80.  They scream "I am conservative and safety conscious" and it is impossible to offend someone in a Volvo. They are *nice*, but not so nice that your clients are wondering how you can afford it. No offense to anyone who owns one, but they blend in to the background. Choice number two would be what BG drives, used Grand Cherokee. Same sort of situation. Nice and if kept up well, can look pretty new.  I am not sure where you are located, but advisors on the West Coast have different types of clients that those of us in the Midwest. Geographic location plays a big role in client expecations. There are top advisors in NY and NJ who ride in limos to work, partly because they can afford it, but also because of the amount of work they can get done while in the car for a few hours a day. That could never happen in the Midwest.  Anyways, good luck and be sure to tell us what you end up with.Very true words.  I've lived in the Northeast my whole life, 6 of them in Manhattan.  If you were any type of advisor and didn't drive either a $50K+ car or (as you said) take a limo, it was strange.  Now, in my little neck of the woods, a $50K+ car creates a spectacle, even though there's a LOT of wealth in my area.  Most of the wealth in my area has been passed down through family businesses, and most of the time you don't know who has money and who doesn't.  Usually the "imports" from other parts of the country that came here for work (big pharma) buy the bigger houses and bigger cars than the locals that may have 10X the wealth they have.  Most common rides are SUV's, trucks, Volvo's, VW's, etc.  Lot of practical rides.  Need to be able to tow a trailer hitch and throw kayak's on the roof (or in the bed).We do have a few wirehouse lifer-guys that drive the high-end Beemers and Mercedes, and they just look out of place here.  Those guys typically run with their marina buddies that weekend here from NYC.

BondGuy's picture
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A-Ro wrote:I question dumping a lot money into cars anyway.  Seriously, they are the worst investment you can make.  If anyone questions you driving a non-luxury car...there's you answer.You are absolutely right!But, dropping major coin on cars may not be about money. For car guys it's about the cars. And if those cars happen to cost, well, so be it. I have owned a fair amount of big label high end machinery. All that money is blown. Or was it? Let's see? I enjoyed everyone of those cars, trucks, and bikes. So there was a trade off. A fair exchange of cash for value. And, dudes and dudette's, because i make the money, i get to spend it however I like.  OTOH, some cars are about spending the money. While I live in a nice neighborhood, it's not like the McMansions that surround us. In my neighborhood there are a smattering of Benzes, two A6's and one 3 series Bimmer. Mostly it's Honda's and Toyotas. Go one half mile north and it's a different story. It's very much a keep up with the Jones type of neighborhood. Hubby drives a  S550 will the wife's kid hauler is a  LX570. I've never seen a neighborhood quite like this one, every driveway, the same story. And the folks who live there, predictably, are broke. No real cash to speak of. And beleive me, I've tried.

cnuk's picture
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Want the best of great performance, yet still something that says I'm conservative?A Ford Crown VIC police interceptor. Might have a few miles on it but kicks butt on the highway. Bonus feature is cage separating you from clients in back seat, and they can't get out unless you open it from the outside. The perfect broker car?

Indyone's picture
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meletio wrote:Are you joking...what kind of car should you buy. If you are new in the business keep this in mind. There is an entire generation on younger investors that do not believe in the mkts as their parents and grandparents did. There is entire group of people 72-90 that will never ever ever buy any where close to the $ amount of equites that they used to, and there is entire middle class that is crumbling. Unless you have a substantial book it's going to be next to impossible to make a living selling fixed income products. If you are planning on creating an income stream off of managed accounts good luck. Clients patients are wearing thin paying fees for a flat mkt. So I would say ...what kind of car you buy should be your least worry.Good to see you are back, dipshit.  Just because you blew up clients in the last ten years doesn't mean everyone did.  You could have made money simply buying and holding AWSHX over the last ten years.  It's not like that one is any real secret as Jones newbies use it regularly and it's been around since the '50s.  If you can't get young prospects to believe in the markets, you aren't cut out for this business anyway.  Go vomit on Boogleheads for awhile.

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cnuk wrote:Want the best of great performance, yet still something that says I'm conservative?A Ford Crown VIC police interceptor. Might have a few miles on it but kicks butt on the highway. Bonus feature is cage separating you from clients in back seat, and they can't get out unless you open it from the outside. The perfect broker car?Now THERE'S an idea...sweet!

BondGuy's picture
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A minor point because we're talking cars:Beemer = BMW motorcycleBimmer = BMW carBTW, Hollywood has gotten this wrong in more than one movie or TV show. So, it's a common misunderstanding. 

richchick's picture
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A-Ro wrote:I question dumping a lot money into cars anyway.  Seriously, they are the worst investment you can make.  If anyone questions you driving a non-luxury car...there's you answer.I totally agree with this. We are financial advisors for crying out loud, and shelling out for a car is a bad investment.  I work in the same building as an old Merril guy who drives a ridiculous tiny Audi sports car. I drive a paid -for 2005 Ford Taurus. I have at least 25 clients who have moved from the Merril guy to me because they get the impression that they are being ripped off by that guy. I live in a small working-class town where everyone knows everyone, and what they drive. One day old Merril guy comes downstairs and says "richchick, do you think I can get a jump, my Audi is dead. And there isn't a dealership around here so I haven't been able to get it fixed yet". One day I will drive a sweet car, but not until I retire from this business and then I will pay for it with cash.

BondGuy's picture
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Everyday cars aren't investments in the traditional way. Who said they were? And the cars that are investments make naked options writing look really tame. A car is an investment in two ways, one,  the trade for value. We pay money and get something we need in return. Two, for us car guys, the satisfaction we get from using the toy car is fair trade for the money we spend. If it weren't for #2 GM would have never sold a single Corvette. I've owned several cars where all I've got to show for my check is the smile on my face. Once that smile starts to fade the car is history and they go into the been there done that bin. I get to check off another experience, for better or worse. Are there better ways to spend the money? Nope!  I'm sure some of you will not understand why.Richchick, a friend of mine died at age 42 from a heart attack. Another died at age 44.  There is no reason to wait for the things you really want. Tomorrow is guaranteed to noone. Obviously for you a sweet ride, as you put it, is low on that list, but the time to start living is NOW! Take it easy on us old guys.

cnuk's picture
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BondGuy wrote:A minor point because we're talking cars:Beemer = BMW motorcycleBimmer = BMW carBTW, Hollywood has gotten this wrong in more than one movie or TV show. So, it's a common misunderstanding.   Beemer = BMW car in Canada. Can't say I've ever heard a BMW bike referred to as anything other than Beemer either. The TV shows/movies must have had Canadian directors/writers!

cnuk's picture
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Indyone wrote:cnuk wrote:Want the best of great performance, yet still something that says I'm conservative?A Ford Crown VIC police interceptor. Might have a few miles on it but kicks butt on the highway. Bonus feature is cage separating you from clients in back seat, and they can't get out unless you open it from the outside. The perfect broker car?Now THERE'S an idea...sweet! Forgot to add that many come with a slick 2-tone paint job.

BondGuy's picture
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Beemer comes from the early days of motorcycle racing. BSA's bikes were nick named Beezers. So the BMW guys came up with Beemer for their rides. I've never called my bikes "Beemer" Now, I have called them names like Winnebiko and Gertruda The Bug Slayer. Speaking of pre enjoyed law enforcement rides, BMW police bikes are abundant in the used market. Something like a 2002 BMW r1150RTp - definately makes a statement. That is -  get the eff out of my way!And, not to give up on a bad idea, did you know that a Mercury Grand Marquis painted in a striking two tone black and white looks just like a Crown Vic police interceptor? Ok, no big time ponies, but a lot nicer interior. It may even have a CD player! Whew, now we're livin'!

cnuk's picture
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BondGuy wrote:Beemer comes from the early days of motorcycle racing. BSA's bikes were nick named Beezers. So the BMW guys came up with Beemer for their rides. I've never called my bikes "Beemer" Now, I have called them names like Winnebiko and Gertruda The Bug Slayer. Speaking of pre enjoyed law enforcement rides, BMW police bikes are abundant in the used market. Something like a 2002 BMW r1150RTp - definately makes a statement. That is -  get the eff out of my way!And, not to give up on a bad idea, did you know that a Mercury Grand Marquis painted in a striking two tone black and white looks just like a Crown Vic police interceptor? Ok, no big time ponies, but a lot nicer interior. It may even have a CD player! Whew, now we're livin'! But I NEED to be able to squeal the tires when leaving a client appointment. 

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Joined: 2006-09-21

The best tire melter owned in my adulthood was a 99 Mustang Cobra. Take it out of traction control mode and hang on! That was until i had the fix kit done. That took something off the torque. Still, I bought it new and kept it for 12,000 smokey burnout miles. Lots of noisy fun. Drove my wife nuts. She was happy when i went back to bikes to get my motive yayahs.When i traded it the used car manager said "Mr, Bondguy, what happened to these rear tires?" I said i have no idea! We laughed!So, maybe a used police package Crown Vic would be fun!  A wolf in sheep's clothing? Not to mention a lot cheaper to buy. Cnuk, good suggestion!Still, for those looking for a fun car, a nineties vintage Cobra gets it done. Not a good client car.

Spaceman Spiff's picture
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Joined: 2006-08-08

If you want a good client car, but need the extra ponies, buy a Mercury Marauder.  It's a dressed up Crown Vic, with the same motor as the Cobra.  Only a car guy is going to realize it's more than your grandparent's sedan.  The only things that give it away are the chromed dual exhaust tips and the chromed rims.  And MARAUDER imprinted into the back bumper.  But I think they're all black and it's tough to see the imprint from anwhere but right behind the car.  Plus you don't have to clean up the urine and puke stains from the back seat of the police cruiser.  Although a full shotgun rack in the front seat between you and your client on the way back from a presentation lunch might be a nice touch and help close a few cases. 

bb5's picture
bb5
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Joined: 2010-08-21

This might not be the best career if you have to ask what kind of car you need...  If you are a rookie at a wirehouse there is a great chance you will not make it to year 2 in this market.  

CFP2BE's picture
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Joined: 2004-12-20

Hey bb5,Screw you!  I've probably been in this industry longer than you.  I've worked as a wholesaler and dealt with FAs like you for the last four years, and I've realized I have more technical proficiency than 90% of FAs like you.  FYI, it doesn't matter what market you enter into the business in, all that matters is your work ethic.  I'm confident in my work ethic, and I'm confident that I'll make it past year two.  I hope to run into you one day at McDonald's when you're asking me if I want fries with that. 

bb5's picture
bb5
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Joined: 2010-08-21

I have been in the business for 14 years.  If you were a wholesaler then you either did not make it or were at a 2nd or 3rd tier firm.  Most if not all wholesalers go indy when they decide to start prsnl production.  Again I question if you can make it in this business if you have such thin skin and have to ask questions about what kind of car you should drive. You can have as you claim all the technical proficiency you want but how will you get in front of potential clients. I just don't understand why in the world anyone new to this business would start at a wirehouse considering the payout.  I love this business and have been extremely successful.  This is an amazing time to find new clients, I just have to question what a wirehouse has to offer that an top indy firm doesn't other than a 60% less payout...

BondGuy's picture
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Joined: 2006-09-21

bb5 wrote:I have been in the business for 14 years.  If you were a wholesaler then you either did not make it or were at a 2nd or 3rd tier firm.  Most if not all wholesalers go indy when they decide to start prsnl production.  Again I question if you can make it in this business if you have such thin skin and have to ask questions about what kind of car you should drive. You can have as you claim all the technical proficiency you want but how will you get in front of potential clients. I just don't understand why in the world anyone new to this business would start at a wirehouse considering the payout.  I love this business and have been extremely successful.  This is an amazing time to find new clients, I just have to question what a wirehouse has to offer that an top indy firm doesn't other than a 60% less payout...Salary and training.Indy firms won't take trainees. The indy firms that do, technically, aren't the trainee's employer. The trainee is working for the independant rep. That's where the paycheck comes from, not from the indy firm. That could work out for a new rep or it could be a disaster.Not to get to far into this, i've been around for almost 30 years and I'm not with an indy firm. I really don't care if  all the  indies out there think i'm a chump for not going indy, Not all of us want to be one man bands. This has been a fun thread. Let's not wreck it. So, does anyone else think the new Challenger is too heavy to be taken seriously as a muscle car? 

CFP2BE's picture
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Joined: 2004-12-20

bb5,I've been at my current employer four years.  Am on the top producing team in the country.  You've got two years on me in the industry, so it's a wash.  I agree with BondGuy, I don't wanna wreck this thread so I'll move on.  To answer your question, BondGuy once again nailed the answer to your question - I used to think I wanted to go indy, but have no desire to put up will all the overhead and headaches that accompany being a business owner.  My father was an entrepreneur and I know all the headaches that accompany it.  I want to close business, make my money, and go home and forget about work.  I don't wanna worry about my employees, benefits, rent, salaries, etc., etc., etc.  The salary and training were also determining factors in my decision. 

Spaceman Spiff's picture
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Joined: 2006-08-08

BG - just like with all of the original muscle cars, it depends on which engine you put in it.  You put the little six banger in that thing and you'll be lucky to move it out of the driveway.  Throw the 425HP SRT8 hemi into it, and you've got more than enough ponies to call it a muscle car. However, the car still isn't going to be as nimble as the Mustang or the Camaro.  Even if those cars don't have the HP ratings, they're still going to win that battle because they aren't as heavy.  Regardless, it's a mean looking car.  I'd happily drive one to work. 

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