Trying to figure out what I want

[Amber Lamps]

Originally Posted by Captain Morgan

I know you posted this asking opinions on specific cars, so you can ignore this opinion if you want, as it has nothing to do with the specific cars.

Honestly, only buy what you can afford to pay for with CASH. If you don't have the cash to buy it, save up for it. Image is a crock of shit. If you get an expensive car, you'll just end up looking like a douche in a small town. Believe in the value of saving toward what you want and forget about spending just to impress other people. I wish I had learned this advice when I was your age. I had older people tell me that all the time and I just ignored them, thinking "I can buy what I want, it's my money and my debt." I'd be so much farther ahead in savings, investing, etc. if I'd taken that advice. And I'd still have the things I wanted because I wouldn't have paid all that money into interest.

Yes, I know, interest rates are fairly low right now. But, you're setting yourself up for a bad habit if you start borrowing now. Do you have any other debt? If so, I'd frankly keep driving the mustang and pay off your other debt, then save to buy what you want. Having ZERO payments on anything is a wonderful feeling. I'm getting close, but still have a ways to go. Be conservative in your spending and aggressive in your saving. You'll be MUCH better off in the future if you ignore that whole "image" bullshit.

www.daveramsey.com FTW

As someone with zero debt, I totally agree with you BUT as someone that has done outside sales, I have to disagree with your "fuck image" sentiment". People like to buy from "one of their own" and nothing succeeds like success, especially in sales. If you appear to be successful, people will buy from you thinking that you must know what you are talking about since so many others have. I also agree that you don't want to go overboard. To be honest, a Mustang would be the perfect sales vehicle around here because it is so popular in these parts. I used to know a guy that would rent a car based on what part of the country he was selling in. He was very successful.

[Homeslice]

IMO he needs to dump the Mustang, because he's pretty young and the Mustang is only going to reinforce that image. And being young might work against you when selling insurance because most of your customers are going to be older.

The image of insurance is one of stability, and a young Mustang driver doesn't put forth that image. They might think you're just a fly-by-night person from a firm that's gonna fold quickly. IMHO.

[Amber Lamps]

Originally Posted by Homeslice

IMO he needs to dump the Mustang, because he's pretty young and the Mustang is only going to reinforce that image. And being young might work against you when selling insurance because most of your customers are going to be older.

The image of insurance is one of stability, and a young Mustang driver doesn't put forth that image. They might think you're just a fly-by-night person from a firm that's gonna fold quickly. IMHO.

Hmm...that's a good point. Well, it's a tight rope for sure.

[Captain Morgan]

Originally Posted by Amber Lamps

As someone with zero debt, I totally agree with you BUT as someone that has done outside sales, I have to disagree with your "fuck image" sentiment". People like to buy from "one of their own" and nothing succeeds like success, especially in sales. If you appear to be successful, people will buy from you thinking that you must know what you are talking about since so many others have. I also agree that you don't want to go overboard. To be honest, a Mustang would be the perfect sales vehicle around here because it is so popular in these parts. I used to know a guy that would rent a car based on what part of the country he was selling in. He was very successful.

Ok, I can understand this to a point. However, that doesn't mean young T-rock needs to drop 15-20k on a vehicle. He can still get something reliable that will project an image of stability, without going into debt for it. Then, when he's saved up enough, he can trade in his stable car for a little bit newer stable car. I guess my "fuck image" sentiment was more about "there is no reason to go into debt to impress, even if you're in sales." Show that you're smart with your money and your decisions, be an honest person, and sell the right products to the right people.

[Amber Lamps]

Originally Posted by Captain Morgan

Ok, I can understand this to a point. However, that doesn't mean young T-rock needs to drop 15-20k on a vehicle. He can still get something reliable that will project an image of stability, without going into debt for it. Then, when he's saved up enough, he can trade in his stable car for a little bit newer stable car. I guess my "fuck image" sentiment was more about "there is no reason to go into debt to impress, even if you're in sales." Show that you're smart with your money and your decisions, be an honest person, and sell the right products to the right people.

I hear you but I'm sorry, if he can get in on <5% rates vs the 2% or less he'll get from a savings account, your argument is null and void, my friend. There is also the old car "payment" to consider. It's a payment that I'm well aware of having used the Bonneville for work driving 300+ miles a day. Maintenance and repairs can cost almost as much as a payment depending on the car and the amount of miles that you travel. Gas mileage may also be a factor. He could potentially half his gas expenditure by buying a newer more efficient vehicle. Speaking of insurance, 21 year old male+Mustang=$$$. If you subtract these factors from his monthly payment, he may potentially break even.

[Captain Morgan]

Originally Posted by Amber Lamps

I hear you but I'm sorry, if he can get in on <5% rates vs the 2% or less he'll get from a savings account, your argument is null and void, my friend. There is also the old car "payment" to consider. It's a payment that I'm well aware of having used the Bonneville for work driving 300+ miles a day. Maintenance and repairs can cost almost as much as a payment depending on the car and the amount of miles that you travel. Gas mileage may also be a factor. He could potentially half his gas expenditure by buying a newer more efficient vehicle. Speaking of insurance, 21 year old male+Mustang=$$$. If you subtract these factors from his monthly payment, he may potentially break even.

Do you honestly see him spending 15-20k on the mustang, or some other used car, in repairs and maintenance? And what about the cost of insurance for a 21 year old male for a newer vehicle, especially an SUV that has higher repair costs. Not to mention the fact that the vehicles he's looking at are going to get as bad of gas mileage as his V6 mustang.

[derf]

Screw what everyone else says, buy yourself a Subaru Imrpeza (non-WRX, non-STI, just the regualr imprezza), slightly more expensive than you wanted to spend, but the 5 door hatch is decent on insurance, decent on gas, fun to drive, says that you are responsible, smart, practical, you are good with your money, and that you also like a quality car.

[Particle Man]

Originally Posted by derf

Screw what everyone else says, buy yourself a Subaru Imrpeza (non-WRX, non-STI, just the regualr imprezza), slightly more expensive than you wanted to spend, but the 5 door hatch is decent on insurance, decent on gas, fun to drive, says that you are responsible, smart, practical, you are good with your money, and that you also like a quality car.

Can't go wrong with a Subaru.

[Amber Lamps]

Originally Posted by Captain Morgan

Do you honestly see him spending 15-20k on the mustang, or some other used car, in repairs and maintenance? And what about the cost of insurance for a 21 year old male for a newer vehicle, especially an SUV that has higher repair costs. Not to mention the fact that the vehicles he's looking at are going to get as bad of gas mileage as his V6 mustang.

Over a 6 year period? Yes. I have receipts totally over $2000 from repair costs on the Bonneville in 2010. BTW if he buys at a dealership, I'd imagine that he'll get the warranty on the vehicle or at least it will come with a drive train warranty, right? Btw we're both wrong, I ran a quote with Nationwide on a 2000 Mustang V6 Conv and a 2006 Nissan Murano, the Nissan was $6/month cheaper so no big deal. Also, the gas mileage is about the same so again, mia culpa. The only things that I will stand by are the premises that the Murano will present a better image, be more dependable and possibly cost less to maintain. Oh and with the super low interest rates cost next to nothing to finance and be "slightly" more comfortable to transport more than two people....

[Avatard]

Originally Posted by Avatard

Keep in mind though, that it has a CV trans. That might drive me nuts, YMMV.

Originally Posted by Gas Man

I'm with avatard. I hate cvt transmissions.

Yep...almost as much as I hate "PIN Numbers", and "Hot Water Heaters"