What do you drive to your rental properties?

General Landlording & Rental Properties
11yFollow

What do you drive to your rental properties?

Kazi R.
Investor 路 Johns Creek, GA 路 Member since 2012 路 43 posts 路 29 votes

I drive a very old sedan. Most of my tenants drive nicer cars than I do. Now that I am considering purchasing a new(er) car that probably will be nicer than theirs,  I am wondering whether to keep the old one to commute to rental properties or sell it. I heard and it makes sense that it's better to avoid driving a flashy car to rental properties, otherwise tenants may feel they are the ones who are paying for landlord's fancy car, therefore feeling less obligated to pay rent on time etc.  It's better to appear broke! So my question to my fellow landlords, what do you think should be done here? If you drive a nice car, do you maintain another not-so-nice one for rental properties? I would love to hear your take on this. Thanks.

19Reply
315 views

Most Popular Reply

Paul Ewing
Investor 路 Boyd, TX 路 Member since 2014 路 688 posts 路 467 votes
11y

Either my beat up 2006 Mitsubishi Lancer or my equally beat up 2001 F150 depending on if I need to haul something along the way.  I have a tenant that bought a brand new F250 dual cab that cost more than the home they are renting and are always scaping to get rent each month. :( 

20Reply
See this reply in the discussion

108 Replies

Jump to latestLatest
  • Chris L.
    Investor 路 Cincinnati, OH 路 Member since 2013 路 38 posts 路 16 votes
    11y

    I drive a 03' Ranger @ 175k or a 05' GMC Sierra @ 300k miles. My tenants generally have nicer cars than myself. I personally wouldn't show up in something too flashy.     

    12Reply
  • Jeff S.
    Specialist 路 Portland, OR 路 Member since 2010 路 3k+ posts 路 1k+ votes
    11y

    1982 Ford van conversion but use as a truck. Peeling paint, rusted chrome rims, 180k runs great.

    1Reply
  • Dawn AnastasiPro Member
    Rental Property Investor 路 Milwaukee, WI 路 Member since 2013 路 6k+ posts 路 4k+ votes
    11y

    I drive my one and only car, a 2007 Sebring.

    Podcast Guest on Show #29
    3Reply
  • Paul Ewing
    Investor 路 Boyd, TX 路 Member since 2014 路 688 posts 路 467 votes
    11y

    Either my beat up 2006 Mitsubishi Lancer or my equally beat up 2001 F150 depending on if I need to haul something along the way.  I have a tenant that bought a brand new F250 dual cab that cost more than the home they are renting and are always scaping to get rent each month. :( 

    20Reply
  • Stephen E.
    St Thomas, Ontario 路 Member since 2013 路 575 posts 路 408 votes
    11y

    1996 Ford Crown Victoria - economy transportation that does not induce tenant envy. She purrs like a kitten at 277,000 miles. My money is in appreciating assets not depreciating ones.

    I have thought through what I might buy if the car gives up or if I am in a crash. Another Crown Vic has the advantage of being low key, and I think tenants do look at your car and they are liable to be aggravated by the sight of a Mercedes or similar. @Kazi R They will indeed think that they are paying for your ride.

    5Reply
  • Arlan Potter
    Investor/Accountant/Builder 路 Meno, OK 路 Member since 2014 路 1k+ posts 路 918 votes
    11y

    My work truck.  A couple of times, my truck was in the shop and I drove my wife's Camaro. Not a good feeling for me, having my renters ooh and aaaah. 

    5Reply
  • Rocky V.
    Rental Property Investor 路 Arlington, TX 路 Member since 2012 路 788 posts 路 640 votes
    11y

    I guess this can lead into another subject on if it's a good idea to let tenants know that you are the owner of their rental.   I choose to let them know that I am in charge of maintenance and show up in a 2000 F250 with 280K miles but my better half (the property manager) drives a luxury SUV.  The subject of what we drive has never been an issue.

    8Reply
  • Rusty Thompson
    Real Estate Investor 路 Salem, OR 路 Member since 2011 路 422 posts 路 149 votes
    11y

    Work truck, but its my only car so not a lot of choices

    2Reply
  • Eric M.
    Investor 路 Washington, Washington D.C. 路 Member since 2014 路 96 posts 路 39 votes
    11y
    Originally posted by @Stephen E.:

    My money is in appreciating assets not depreciating ones.

     I drive a 2004 Dodge Stratus. I think about replacing it every month, but it runs good, few problems, and the number one reason I don't buy a new car is for this reason. I can take that money and put it in a new property! Probably silly, but it definitely keeps me from spending on big-ticket items I don't need.

    7Reply
  • Elizabeth Colegrove
    Hanford, CA 路 Member since 2013 路 5k+ posts 路 1k+ votes
    11y

    I drive either our 2009 Miata or 2013 Hylander. So not alot of choices :)

    1Reply
  • Don Coumbs
    Flipper 路 Cheney, WA 路 Member since 2014 路 77 posts 路 47 votes
    11y

    I drive a 1991 chevy truck, and since I am normally doing maintenance or building something, I am generally wearing ratty clothes. Every one of my tenants has a nicer vehicle than me.  I think looking too wealthy might be a problem, but I also think I could step it up several notches and still be ok.

    I'm with @Eric M. about depreciable assets.

    3Reply
  • Sylvia B.
    Rental Property Investor 路 Douglas County, MO 路 Member since 2014 路 1k+ posts 路 1k+ votes
    11y

    I honestly never give a thought to what the tenants think about my vehicle. We own a 2006 Honda CRV and a 1998(?) Chevy truck. We buy used, take good care of them, and drive them until they die.

    People who tend to envy will do it no matter what, so I just don't think about it. 

    1Reply
  • Stephen E.
    St Thomas, Ontario 路 Member since 2013 路 575 posts 路 408 votes
    11y

    @Eric M. I think that is exactly the point. Cash is king. Once you realise how cash can be used to generate profit and long term growth in rentals, it is hard to justify splurging on assets that do nothing for you. I like my car and have taken good care of it, but its just a car. I don't get my sense of self worth from it. I do get financial security through owning a bunch of rental units. Far better than a flashy car that will end up in a junk yard one day.

    5Reply
  • Kazi R.
    OP
    Investor 路 Johns Creek, GA 路 Member since 2012 路 43 posts 路 29 votes
    11y

    Thanks everyone for chiming in. I better keep my 99 Camry, which I bought used in 2002. It runs great, so I probably will be able drive it for few more years. It's not nearly as old as the cars some of you are driving! :)

    @Eric M.  & @Stephen E.  I have been thinking about getting a newer car for 2 years now, even test drove a few,  but haven't been able to pull the trigger because of exactly you said about depreciating assets. I too would rather acquire another rental property than splurging on a car. One brings in income every month, while the other drains it. I haven't been able to justify it (still struggling)! 

    3Reply
  • Bryan N.
    Investor 路 Hampton Roads, VA 路 Member since 2014 路 1k+ posts 路 418 votes
    11y

    I park my Maserati in the driveway of the rental playing loud club music when showing a property.  I look like the guy in the farmers commercial dancing next to his lambo checking his hair out in the mirror.  

    Ok seriously, I drive my 2009 Silverado.  

    10Reply
  • Tyler Smiarowski
    Accountant 路 cedar rapids, IA 路 Member since 2013 路 99 posts 路 46 votes
    11y

    I use to drive a 98 chevy lumina with 231k miles...had rust, multiple dents, paint was peeling, rearview mirrow dangled from the top and made a loud rattle sound when I drove it...I also had a hitch on it and the trunk was full of tools. Recently just upgraded to a 2005 ford f150 with 120k.

    0Reply
  • Tyler Smiarowski
    Accountant 路 cedar rapids, IA 路 Member since 2013 路 99 posts 路 46 votes
    11y

    I had a car dealership offer me $100 for a trade in. This was after he stated that he has never given less than $500 for a trade in. I politely declined and sold it on craigslist for $400.

    2Reply
  • Jennifer T.Pro Member
    Investor 路 New Orleans, LA 路 Member since 2014 路 1k+ posts 路 944 votes
    11y

    Hmmm...so here is a possible flip side to the question. If I were a potential renter, I would view it as a red flag if my LL showed up driving a car in terrible condition. Not necessarily old or a work truck. But things like rusted out areas, loud noises and/or missing a bumper/needing major body work for a car.

    I'd be asking the question to myself, "Whoa! If their car is in such bad shape, maybe they don't have the money and/or inclination to take care of the property if a problem arises."

    I'm a little ashamed to admit this because I know it shouldn't matter, but it would also leave a little bit of a bad impression on me if my LL drove up in a really fancy car. But I'm talking more on the extreme end...like $80K plus. Especially if it was a new, bright yellow or red high end sports car. I really side eye those anyway, lol.

    And it wouldn't stop me from renting the right place and certainly wouldn't affect my paying the full rent on time.

    But, to answer your question, I drive a 2010 convertible MINI Cooper. My only car.

    3Reply
  • Mike Lee
    Investor 路 Tampa, FL 路 Member since 2017 路 123 posts 路 109 votes
    6y

    Curious to get peoples thoughts in 2020 on this subject

    5Reply
  • Jim K.
    Handyman 路 Pittsburgh, PA 路 Member since 2018 路 5k+ posts 路 13k+ votes
    6y

    This is still the same as it ever was. I don't know about A and B class housing. I don't own any of that, we're in low C-class housing. Our main vehicle is currently a slightly dinged-up 2015 Toyota RAV4. It does the job, but barely. When we got started, I had access to a friend's 2001 white-and-rust Honda Odyssey minivan. That was the BEST car ever for maintenance calls in the hood.

    Never outdress, never outdrive, never outcrib your tenants. That's one of the chief rules of running a portfolio of C'class properties. You want to live it up? Vacation far away. That's what we do.

    4Reply
  • Jim S.
    Sterman, MI 路 Member since 2017 路 378 posts 路 306 votes
    6y

    A lot of good reasons to drive old beaters. I drove them for years. I drive new/er vehicles now. I am not going to refuse some of the nicer things in life because of how my tenants perceive things or not.

    9Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant 路 Summerlin, NV 路 Member since 2014 路 45k+ posts 路 66k+ votes
    6y
    Originally posted by @Jim K.:

    This is still the same as it ever was. I don't know about A and B class housing. I don't own any of that, we're in low C-class housing. Our main vehicle is currently a slightly dinged-up 2015 Toyota RAV4. It does the job, but barely. When we got started, I had access to a friend's 2001 white-and-rust Honda Odyssey minivan. That was the BEST car ever for maintenance calls in the hood.

    Never outdress, never outdrive, never outcrib your tenants. That's one of the chief rules of running a portfolio of C'class properties. You want to live it up? Vacation far away. That's what we do.

    I think for the C class working mans rental portfolio I would choose a decent pick up truck.. new old would not matter.

    I get a little nervous driving to nice of a car to meet my banker for lunch or show him a project..  they tend to be quite conservative on the cars.. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    6Reply
  • Andre TaylorPro Member
    Rental Property Investor 路 Chicago, IL 路 Member since 2017 路 219 posts 路 180 votes
    6y

    I drive my 2002 Nissan Maxima to all of my properties and i do have tenants that have newer cars then me which is a good thing.....and they dont look at me like the monopoly guy but more like that a common worker so stay under the radar in that aspect 

    3Reply
  • Steve Vaughan
    Rental Property Investor 路 East Wenatchee, WA 路 Member since 2014 路 10k+ posts 路 16k+ votes
    6y

    I like minivans.  A 15 year old one with around 100k miles is only about $2k and I can haul most everyrhing with it and a small utility trailer.  Nothing flashy.

    When we take my wife's little car to look at property or go to a meeting, we are conscious of it and park around the corner.  Nobody gives a rip most likely but we feel weird about it.  Seeing a bad handyman painter plumber in a convertible is probably a sight馃槑

    3Reply
  • Mike Lee
    Investor 路 Tampa, FL 路 Member since 2017 路 123 posts 路 109 votes
    6y

    Good to see most are on the same page as myself. I own an older model sedan I use as a daily driver, and for purposes of my rentals they always see me in that car. A friend of mine who lives in Dallas has a brand new Tesla, which draws a lot of attention when pulling up to his college rentals, however he feels college students will see the car and "admire/look up to" him. Different strokes for different folks.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free