This is probably a silly question, but will It be detrimental to me if I am driving a 98 Escort? It is reliable and only has a couple shopping cart dings on the body. But is it important to have a newer model car for appearance?

I will be taking the test in a couple of weeks and was just curious about this. Thanks.

Depends on where you're at and who you're hauling, if you're hauling at all. Personally I never do. Back to the question...

My personal vehicle is nearly two decades old but one which has been well maintained, looks near new and kept clean as a whistle. I call it "vintage eccentric". Plus it's the only one of it's kind and color in four counties so folks know I'm coming. This is the everyday driver. I've an older Taurus for fields and tough neighborhoods.

If yours works well for you now, keep it clean inside and out and do the best with what you have. No need now to grab a new car loan. But keep in mind too, if you're headed for the Lexus/Hummer crowd, you may get snickered at more than you like. If you're working the bread and butter deals, you may have a better car than the client.

Good luck on the test and welcome to the wars!

Reico, it depends on who your clientele will be. If you are going towards the more up scale corporate type. Then it might have some effect in your business. There are a few post on here regarding this topic. There are also places you can go to lease or buy used luxury vehicles. I will post the link to some of this post.
http://www.agentsonline.net/forum/ultimatebb.php/topic/1/6521.html

More important is how you keep the car up. There is really no point in telling you to get a new car if you can't get a new car.

The bottom line is that people draw conclusions based on appearance. This includes our cars to a certain degree.

If your car is clean, does not smell funky and gets the job done without backfiring - then your set.

When you can get a newer car, I would.
R

Thanks everyone. I'm glad I asked. I think I'll wait at least a couple of months to see what type of people I will be dealing with.

I've been thinking about buying a 65 Ford Fairlane as a daily driver... sure would stand out from the BMW's/Lexus's/SUV's most brokers around here drive. It can work both ways I guess.

Here's the listing:

http://raleigh.craigslist.org/car/206042217.html

The age old question, "Status vs. Substance" I would suggest keeping your car clean and in good repair and then focus more on customer service and knowledge. If you do these things and add a great deal of hard work it won't take long for this problem to solve itself. Good luck to you on your test and upcoming career.

Ditto. You fight with what you brought. Keep it clean and upgrade if/when you want. And your money is definitely better spent on marketing than upgrading the car before you even have any clients.

But hey, the thing's basically going to be your office and some clients will definitely judge you on it ... so you might as well eventually have a nice car for both business reasons and also because you'll just enjoy your time in it more. I spend a lot of time in my car and I'll be damned if I'm going to settle for a mediocre car.

You can always get an extended warranty on a used car by the way, so there's no reason not to get a used BMW or Mercedes or whatever you might like. Twenty five grand goes a very long way in buying a used car. www.expocarsusa.com/invlist.php?

I was taught early on in my real estate career that I should have my auto paid for. That way, if the market is down, then that's one less expense I'll have. Therefore, I pay for my vehicles in full at the time of purchase.

I purchase a new (used) vehicle every 3-4 years. I've owned the following: Infinity, Volvo, Toyota & VW. I'm about to purchase a Land Rover and pay cash. I'm willing to wait and let someone else take the new car hit and buy a 2-4 year old auto in excellent condition.

I keep my vehicles really clean and service them regularly. I believe that this is the key to projecting a successful image. Clean and organized vehicle, equates to the same perception of you! Don't buy more than you can afford and keep your vehicle clean and presentable.

I agree with Gulf - I always buy near new and pay cash.

And I also agree on the choice of a Land Rover! I applaud you! My Discovery was the best vehicle I have ever had. I actually cried when I sold it - and then immediately wanted it back. It's a shame they've stopped making them. I am not a fan of the LR3. I so miss my Disco. It is by far the perfect Real Estate car. Not so big as to turn off environmentalist hippy types, but classy enough that my 2-3 million dollar clients did not mind riding in it either. And when I sold trailers - those clients didn't really know what it was, so no offense there either.

On the flip side, I will try to avoid paying cash for my car.

However, my rule is that the interest rate to buy the car has to be less than what my return would be if I put that sum into another investment.

This is what I did with my last car. I took the amount the car was going to cost me and invested it. I got a ford during their 0% financing deal.

In short, always be thinking about each dollar you spend and maximize it. If someone offers you 0% financing... TAKE IT.

R

Better than financing is leasing, at least for agents who use their car primarily for business.
I use mine for something like 85% business so I get to write off 85% of lease payments, fuel, insurance, tires, car washes, etc.

How many of you actually haul folks to see residential properties?? Or do you just have them follow you from place to place??

Bump

captain2morrow, I volunteer to take people to see properties, but 90% of the time they'd rather drive themselves.

As for the car question, what about renting a car if you know you're going to be dealing with an upscale client? I've never done this, but have considered it.

Jflynn: Do you not drive too many miles to lease a vehicle? Just wondering...I would consider leasing if I knew I wouldn't get hit for too many miles at the end of the lease.

My lease is for 15k miles a year which works out pretty well.