I want to stay positive but also realistic.  CFP2BE I wish you luck and please don't take my thoughts as anything other than my thoughts, I could be wrong..  I am not sure what wholesalers still work in a "team" format other than Russell.  Are you an external or internal?  The days of making money and going home and forgetting about the responsibilities are long gone.  Will those days come back (90's) I hope so.  If that is what you are looking for then you might want to sell insurance.  On last thought, when you are independent you have the benefit of not having employees, you can run a 1 man show, bigger is not always better.  Build your business the correct way and in 3 years give indy serious thought.  Good luck...  As far as the car, if I was just starting out and did not need a large SUV for the kids and family I would look at a 2007ish 3 Series BMW.  Great car sets the right image with your clients, successful but not stuffy.  I would go to a small indy dealer and you may pay 14-20k. 

Just picked up a 92 Mercedes Benz 190e for $600... New exhaust cost $200, and new brakes done by my neighbor another $150.. So picked up a reliable car for $1000, no rust runs great and will last 2-3 years or more..

Forget the 14-20k cars... buy something cheap that looks nice and runs well(pre 1994 mercedes are best deals).. Then you can spend the other 12-18k on building your business.. Clients will appreciate the idea you got a sweet  deal and that you bought a classic..

I agree with buying cars as cheaply as possible. However, there is a line. Right now I have a 2005 Taurus SE with 65k on the clock for sale asking $6900. It's a lot of car for the money.  The problem with an older Bimmer or Mercedes is the expense of maintaining it. While the neighborhood mechanic can handle the routine stuff these cars can become electronic nightmares as they get older. My neighbor's 2004 S500 wouldn't start. Towed to the dealership, he has it back, but is $1600 lighter. A co worker's ten year old Seven Series BMW broke down a couple of weekends ago. The bill just for the parts was going to be +$5000. The car needed a few other things so he's selling it as is. Same with a friend driving an antique A6. $3500 for a fried ECU. He put down for the work and then sold the car. These cars can be great cars, but they are like the Continentals and T-Birds of the 60s. As they get old they become electrical nightmares. The big difference, is that with the old Lincolns the probelms were nit piky type things like windows that wouldn't work. An any shade tree mechanic could take off the door panel and fix it. The BMWs/Benzs from the mid eighies and on are complicated electronic machines. When they stop running it's usually beyond something nit piky. Good luck fixing one in critical condition.

That said, Squash, i admire you frugality and wish you nothing but the best of luck!

A good buy of an uncomplicated old BMW would be a 71-76 BMW2002. A bargin basement sports sedan! Lot of fun to drive! And anyone who can hold a screwdriver can fix anything that goes wrong with one. Parts abound and do unmolested copies. It is the car that started the sports sedan craze. I call them BM what because back when these cars were new that was the reply when you told someone  what kind of car it was. It's a BM what?

Just got a call, a $6100 cash offer for the Taurus. Hmmm?

bb5,

I am an external.  Just for clarification, I know I can't just go home and completely forget about my job.  What I meant was that I don't want the worry of all the overhead that accompanies being a brick-and-mortar business owner.  My father did that, and I saw the toll it took on him.  One of the main reasons this business is so well suited for me is because I am a loner, a maverick.  I work best alone.  I want to be able to go into the office, service my clients, prospect, close business and go home. THAT'S what I want to worry about, the rest is superfluous.  That's why taking a lower payout is worth it to me.

In preparing for this change I have spoken with hundreds of advisors (indy and wire) and sought their input and they all agree with my thinking that a wire is the way to go for me (that's the key - FOR ME).  Keep in mind that I can always change my mind later and go indy.

And by the way, I bought my car.  After my message board pissing contest with bb5 I can't believe it but we actually thought alike!  I decided on a 2007 BMW 335i.  So, I got the sports car I wanted, but with four doors for practicality.  It's the most amazing car I've ever driven!  It only has 30k miles, so it still has 20k miles on the full maintenance warranty, and the extended 100k certified pre-owned warranty thru a local BMW dealership.  Okay, so I did pay a little bit more by going CPO at a BMW dealership, but now I don't have to worry about repair expenses for a few years, which I feel buys me time until I'm established.

I paid mid-20s for it.  Put a few grand down, so the monthly note does not put a big dent into my cash flow.  Thanks to all for your input. 

On, and btw, someone posted about having a good story behind the purchase of the car.  For my story to clients I can say I bought a $50k car for 1/2 off by allowing the 1st owner to absorb the accelerated depreciation in the first three years and it still has the maintenance and extended warranty protection to provide me the peace of mind of ownership for many years.

It may be a little late to answer your question, but I drive a 2010 Prius.  I put 30% down with cash and trade in and with 0% apr, my monthly payments are around $315.  It's an easy payment to make, but you can get used Prius's and decent four door midsize sedans for  less than half the price.  The mpg are great and I don't look like a D-bag in my tree hugging state.  Perception is reality,  prospects like the ride, but what they don't know is that my project at home is 67 mustang with a 351 windsor.  I have my fun and do my business too.  Just my two cents.

CFP, good luck! There are  two those owned by people in my office. They only have good things to say.

Bull, 67 Mustang! You're talkin' my language!

I told the buyer of the Taurus I'd go $6500. He told me my price was unrealistic. And so it goes in the world of sales. Bonds, cars, it doesn't matter. Everone wants a deal !

I'd have gone down to $6100.  Edmunds puts your Taurus at $5700 for a private party and $6500 for a dealer.  I don't know about all of the options, but $6100 sounds like a good offer. 

CFP - Restomod, nice.  My dream car is a 67 GTA convertible with a 390.  I have a client that has the hardtop version.  It just sits in his garage. Hasn't run in 10 years he said.  What a waste of iron.  I offered to help him get the dust out of the carb once in a while, but he just chuckled at me.   

Space, thx, but I have another pricing source, the head used car buyer for one of the largest dealer groups in the country. I bought this car from this guy 5 years ago, a low mileage Ford program car, for one of my son's to drive. Program car is MFG speak for ex-rental car. Great car! Anyway I asked him to look it up on Manheim, to get the actual sale numbers from last week. The 05 SE's from last week went through the auction for about $5400, $5500  range for most, with one going for $6100. He said if it was his car he'd put it on the lot for$7995 and take no less than $7000 for it. So, Not being a pro i lowered the numbers a bit. We'll see. Still, you are right, $6100 wasn't a bad offer.

[quote=BondGuy]

Space, thx, but I have another pricing source, the head used car buyer for one of the largest dealer groups in the country. I bought this car from this guy 5 years ago, a low mileage Ford program car, for one of my son's to drive. Program car is MFG speak for ex-rental car. Great car! Anyway I asked him to look it up on Manheim, to get the actual sale numbers from last week. The 05 SE's from last week went through the auction for about $5400, $5500  range for most, with one going for $6100. He said if it was his car he'd put it on the lot for$7995 and take no less than $7000 for it. So, Not being a pro i lowered the numbers a bit. We'll see. Still, you are right, $6100 wasn't a bad offer.

[/quote]

I have access to Manheim, I think your buddy, the dealer, is pretty close. Also, as I am sure you know, 7995 usually includes alot of other factors (ie: financing)... throw it on eBay, it will increase your exposure, and more likely than not, a dealer down here in FL will buy it. FYI- down here the ex-rentals bring less at the auction, but usually have 30-35k miles and in some cases remaining factory warranty. A great first car for a kid.... or a new broker. You never know what might/might not be under the seats.

I love how this guy makes an offer of 6100 and your price of 6500 is "unrealistic"... people amaze me. He'll go buy one for 5,500 and end up putting a G into a new condenser or something else...

Champagne taste on a beer budget, GL w/ the sale.

Yeah we were pretty close. I figured he'd ask "Will you take 63, but nope, he got all jerky with me, and that was that. You got it right, the guy will pay less for a whole lot less car. This car is really clean. I bought it as an ex-rental from my dealer buddy. it had about 20k on it when i bought it in 2005. I paid 11k for it in 2005. So, i know i got a good deal. And, the truth is, 65 is a good deal now. So, we'll see. I will say this, That i'm not the one running around showing the car makes a difference. If it was me in the hot sun today, 61 would have got it done. My son owes me, so i can pass until I get an offer i like.

[quote=BullRunt]

It may be a little late to answer your question, but I drive a 2010 Prius.  I put 30% down with cash and trade in and with 0% apr, my monthly payments are around $315.  It's an easy payment to make, but you can get used Prius's and decent four door midsize sedans for  less than half the price.  The mpg are great and I don't look like a D-bag in my tree hugging state.  Perception is reality,  prospects like the ride, but what they don't know is that my project at home is 67 mustang with a 351 windsor.  I have my fun and do my business too.  Just my two cents.

[/quote]I have ridden in a Prius and "I felt like I was literally driving around in a vagina."

[quote=Bud Fox]

I have ridden in a Prius and "I felt like I was literally driving around in a vagina."

[/quote]

ROTFLMAO!!!  Oh my God, too funny!!!!!!!! That's just wrong on so many levels.

[quote=Bud Fox]

[quote=BullRunt]

It may be a little late to answer your question, but I drive a 2010 Prius.  I put 30% down with cash and trade in and with 0% apr, my monthly payments are around $315.  It's an easy payment to make, but you can get used Prius's and decent four door midsize sedans for  less than half the price.  The mpg are great and I don't look like a D-bag in my tree hugging state.  Perception is reality,  prospects like the ride, but what they don't know is that my project at home is 67 mustang with a 351 windsor.  I have my fun and do my business too.  Just my two cents.

[/quote]I have ridden in a Prius and "I felt like I was literally driving around in a vagina."

[/quote]Although no offense to your Prius.  I am sure they all feel a little different.  No pun intended...

[quote=Bud Fox]

Although no offense to your Prius.  I am sure they all feel a little different.  No pun intended...

[/quote]

Coming from experience I've driven some Priuses that were tighter, and some that were looser.  Of course, some of the Priuses I've driven have been around the block many times and had many drivers inside of them, and others were just off the showroom floor virtually undriven.  I've rented many Priuses, and even owned one, although I got rid of it recently.  Made too much noise.  I've driven some beautiful Priuses, some average looking Priuses, and a couple of Priuses I wouldn't want to be seen in public with.  I've driven some white Priuses, some brown Priuses, almost drove a black Prius, but have not had the pleasure of driving a yellow Prius yet.  My dream is to drive two Priuses at the same time!  I prefer newer Priuses to older ones.  They tend not to weigh as much or be as noisy and breakdown as often.  Of course, the problem with getting rid of a Prius is that your assets depreciate by 50%.  But it sure is worth it to trade into a newer Prius that is much more fun to drive and doesn't make as much noise or cause so many problems.  Of course, test driving Priuses in search of the right one is the funnest part! 

I couldn't agree more....Although I do love one with that "new car smell", I really like one that has a couple of miles on it so that it is more responsive to the road as these seem to have auto-pilot. But the key is getting one that was put together very well from the factory so that it will go many, many miles before having any problems other than just the regular maintenance.  I have had both and prefer the latter and like you think it would be nice to have a new one and one with a couple of miles in the garage.  I envy Jay Leno...a different one every day...

wow this thread is so depressing. taurus, prius, crown vic, mercury, wtf is wrong with you guys. your clients don't know that's your prius parked in front and even if they did know they wouldnt give a damn.

stop driving these POS's you make 6 fig per year

I MEAN A TAURUS WTF IS WRONG WITH YOU

A PRIUS

WTF

jesus i bet you guys wear corduroy suits

i mean this thread is literally making me cringe. my head hurts

Sorry about your headache, but I end up driving a fair amount of my clients (liberals) to the golf course and the location of my office warrants a nod to the environment.  They all love it, but I do agree it does feel like I've had my balls removed when I'm driving it.  I do it for show, and it's gotten me a couple of interesting leads to say the least.  My career is in its infancy and I'm pretty young, so any way I can change what prospects see is to my benefit and this is one thing I can control.  Here have an asprin.

[quote=BullRunt]

Sorry about your headache, but I end up driving a fair amount of my clients (liberals) to the golf course and the location of my office warrants a nod to the environment.  They all love it, but I do agree it does feel like I've had my balls removed when I'm driving it.  I do it for show, and it's gotten me a couple of interesting leads to say the least.  My career is in its infancy and I'm pretty young, so any way I can change what prospects see is to my benefit and this is one thing I can control.  Here have an asprin.

[/quote]

Liberals invest...!?!?!? Get outta here.