What kind of car do you drive?

Investor Mindset
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What kind of car do you drive?

Jeff Sims
Residential Real Estate Broker · Greensboro, NC · Member since 2015 · 14 posts · 68 votes

Just a fun post here. I have been a SFR investor for 15 years and now have $2M in rental RE while working a full time career. The cash flow was tight for years it seemed but the snowball of debt paydown is rolling big time now and I'll be able to "retire" in 2 years with enough cash flow to replace my salary.

That said, I can't imagine having a car payment and only buy used vehicles. I drove a 1999 Jeep Grand Cherokee (to haul all my rental supplies) for 7 years and the engine blew a year ago with 275k miles. I made a significant upgrade and replaced it with a 2000 Jeep Grand Cherokee with 110k miles and paid $3,600 cash.

I don't need the status symbol of a new vehicle nor the monthly payment and living well below my means is my motto. As Dave Ramsey says, "live like no one else today, so you can live like no one else tomorrow".

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Roy N.Pro Member
Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
11y

My preferred ride:

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  • David Dobbs
    Real Estate Investor & Entreprenuer · Atlanta/Athens, GA · Member since 2015 · 21 posts · 2 votes
    10y

    '08 Audi A4 , quattro, got it for Uber, its my third ride in 7 months, had an 04' Acura TSX then an '06 MB C-280, I actually made money on that one btw. I plan on selling the Audi in 4 months or less. If I can't then I'll have to keep till I do...then IDK.

    0Reply
  • Jesse Richardson
    Lender · Vacaville, CA · Member since 2015 · 58 posts · 21 votes
    10y

    Ok, so I feel shameful now after seeing all these posts.  Lol.  Everyone drives older cars, and I did too for 14 years.  During that period I had car payments for a total of about 2 years.  Had a nice, but cheap 5 year old Grand Prix, then a 12 year old Jeep Wrangler, then a 9 year old Nissan Frontier.  I finally bought a brand new 2015 Nissan Frontier.  It's nice and I'm able to listen to the BP PODCAST on my commute on bouetooth, so that makes me feel better about my purchase. Lol.  Either way, I had set a goal about 8 years prior that when I made a certain rank, I would get a new vehicle...so, I did.

    0Reply
  • Marc M.
    Contractor · Rockville, MD · Member since 2014 · 423 posts · 135 votes
    10y
    Originally posted by @Chris Soignier:

    I'm a car (and motorcycle) nut, and cringe when I think of all the money I've blown over the year on motorized toys. Now that I"m into REI, I'm pretty much reformed and have settled down on my frequent trading.

    Now I just have an '08 Ridgline, a '13 Civic Si, an '02 Corvette Z06 (my track toy), and a '15 KTM 300 XC dirt bike.

     I'm with you on this one!  I did some rough math last year on the amount of money I've spent on bikes in the last ten years....I stopped counting when I hit six figures.  I did get some back when I sold them but track days are like....

    2Reply
  • Americo Madeira
    Framingham, MA · Member since 2015 · 9 posts · 0 votes
    10y

    Wow...I arrived in the US 4 years ago,

    Bought a Dodge Caravan for 1000$,last March bought a 2004 Nissan Quest,paid cash...

    I am in the pre-aproval process to buy a multi family...

    0Reply
  • Chris Soignier
    Real Estate Broker · North Richland Hills, TX · Member since 2013 · 1k+ posts · 607 votes
    10y
    I used to road race motorcycle and do motorcycle track day$.   Now I do them in my Z06, but being an instructor all my track time is free.    That makes the hobby so much more affordable!
    ---------------------------------------------
    Originally posted by @Marc M.:
    Originally posted by @Chris Soignier:

    I'm a car (and motorcycle) nut, and cringe when I think of all the money I've blown over the year on motorized toys. Now that I"m into REI, I'm pretty much reformed and have settled down on my frequent trading.

    Now I just have an '08 Ridgline, a '13 Civic Si, an '02 Corvette Z06 (my track toy), and a '15 KTM 300 XC dirt bike.

     I'm with you on this one!  I did some rough math last year on the amount of money I've spent on bikes in the last ten years....I stopped counting when I hit six figures.  I did get some back when I sold them but track days are like....

    0Reply
  • Wade Sikkink
    Real Estate Investor · Lincoln, NE · Member since 2013 · 584 posts · 353 votes
    10y

    Bought myself a 2015 Dodge Challenger R/T Plus this year.  Love it.  Wife drives a Yukon Denali.

    I don't drive the Challenger down to my apartment building, though.  I drive a beat up 2001 Dodge Ram when I'm going down there to work or meet a tenant for something.  Don't want them to think I'm making too much money :-)

    0Reply
  • Jeff S.
    Colorado Springs, CO · Member since 2015 · 98 posts · 59 votes
    10y

    Keepin' a thread alive ...

    The car I drive was sold (new) to somebody else for $60,000 back in 1994, when that was a lot of money.  In 1994, the house I lived in was worth MUCH LESS than that, about $45,000. 

    I picked up the car 8ish years ago for $3600, and put about $800 of DIY rehab into it.  The only repair I paid for since then was a fuel pump, about $500.

    It's a BMW 540i, V8, something around 450 HP, the engine control module  prevents speeds over 150 MPH, the interior is black leather and Cocobolo (exotic hardwood), and if you've never driven a BMW, yes there *is* a difference.

    I get a reak kick out of the fact that I paid *less* than a sensible car lot "deal" on a used Hyundai.

    Disclaimers: I do all my own maintenance when time/weather/skills allow. I drive very few miles per year.  The car looks like cr@p (bad paint, trim falling off, leather seat torn) but I don't care.  All I see is an awesome car that costs me next to nothing to drive year in, year out.

    0Reply
  • Rick BassettBusiness Member
    Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
    10y

    2003 Chevy Avalanche with 160,000 miles - the most versatile truck ever. It's a shame that they stopped making them. I've carried every type of construction material with this one.

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    0Reply
  • Nick Doria
    Real Estate Agent/Investor · Chicago, IL · Member since 2015 · 229 posts · 108 votes
    10y

    2009 ford ranger long bed although i don't have it paid off as of yet this will be my daily and work truck for a long time. i am a car junky so once i really get things going ill have my fun car but not until i reach my investing goals.

    0Reply
  • Roy N.Pro Member
    Rental Property Investor · Fredericton, New Brunswick · Member since 2013 · 7k+ posts · 4k+ votes
    10y

    @Rick Bassett

    Funny, I found this to be the most versatile pick-up to-date:

    Crew cab, flat bed (fold down rails), three-way dump, and 30-mpg.

    2Reply
  • Rick BassettBusiness Member
    Property Manager · Greater New Haven, CT · Member since 2010 · 377 posts · 434 votes
    10y
    Originally posted by @Roy N.:

    @Rick Bassett

    Funny, I found this to be the most versatile pick-up to-date:

    Crew cab, flat bed (fold down rails), three-way dump, and 30-mpg.

     I don't know Roy, I don't think that I can take my wife on vacations in that one. :-) 

    Rick

    475-900-3100
    Bassett Property Management5109 Reviews
    WebsiteView Page
    1Reply
  • Ted McClure
    Professional · Indianapolis, IN · Member since 2015 · 2 posts · 0 votes
    10y

    Real Estate is Fun. I Drive a late model MB E class. I have owned 15 Mercedes and never had a bit a tousle with them. Early in My Real Estate Career after some substantial success I bought a Rolls Royce Shilver Shadow. I have had a Ferrari, Porsche, Jaguar and BMW. My Favorites still remain Mercedes and Kia Soul.

    0Reply
  • Sean Kremer
    Real Estate Investor · Milford, NE · Member since 2011 · 201 posts · 140 votes
    10y
    0Reply
  • Sean Kremer
    Real Estate Investor · Milford, NE · Member since 2011 · 201 posts · 140 votes
    10y

    Just got my "other" work truck licensed.....just have to plate it and put the lights on..

    2Reply
  • Bob Torres
    Wholesaler · Youngstown, OH · Member since 2016 · 12 posts · 5 votes
    10y

    sold this to buy my 3rd rental to make 550 a month instead of it colleting dust in the garage for the winter winter 

    1Reply
  • Bob Torres
    Wholesaler · Youngstown, OH · Member since 2016 · 12 posts · 5 votes
    10y

    I now drive a 2001 grand Cherokee  with a 6 x 12 enclosed box trailer  

    0Reply
  • Brendan Malone
    Investor · Velarde, NM · Member since 2015 · 5 posts · 0 votes
    10y

    2007 Toyota Tacoma.  Bought it used and payed cash.  It's only the second car I have ever owned and I am pushing 50.  I could easily buy a fancy car but I would much rather save those pennies for properties.

    0Reply
  • Jason Emery
    Kirkland, WA · Member since 2016 · 26 posts · 7 votes
    10y

    Sad to say I bought a Ford Fiesta new.

    We negotiated up the warranty and the price down (as it was on the lot for a year).  But at the end of the day it probably wasn't a great deal.

    I was trying to get something for my mom so she could teach piano around King County and get amazing mileage.  We get the amazing mileage, but the warranty sure came in handy when it developed expensive problems.

    The bad part is that she got cancer and stopped teaching piano, so I have a car that I barely use.  Normally I try to commute via Metro, which is awesome as my workplace provides that for free!

    0Reply
  • Eric Neal
    Lender · San Antonio, TX · Member since 2014 · 41 posts · 6 votes
    10y

    2007 Hyundai Azera. 190k+ miles and paid for. My wife is in a paid for 2007 pt cruiser convertible. Super fun car.

    0Reply
  • Rob Gillespie
    Specialist · Cleveland, OH · Member since 2011 · 1k+ posts · 852 votes
    9y

    I just want to see this at the top of the thread again. I love looking at cars, LOL. 

    Some of you BP investors have some good taste in rides!!!

    I will say this, any time I am in one of my high line cars, it starts a conversation and I can usually make a connection or do some business because of it. I never think of a car as wasted money if you buy it right. Just my 2 cents. :-)

    Would love to see more pics!

    Rick H.

    0Reply
  • Jeff A.
    Investor · Atlanta, GA · Member since 2014 · 65 posts · 29 votes
    9y

    Last year I paid cash for a new z71-fully loaded pickup... it's part of my normal new truck purchase,  the last3 were drive. In the 200k range, when I sold them.  Took about 12 years on all three of them.  I prefer New, maybe I spend more?  But, 10-20k is not gonna change my life either way (spend /save)  I love knowing every mile and ever oil change etc.  

    0Reply
  • Account Closed
    Johnson City, TN · Member since 2014 · 586 posts · 705 votes
    9y

    2016 F-250. I have worked long enough and hard enough to no longer drive worn out junk.

    1Reply
  • Diane G.
    CA · Member since 2016 · 1k+ posts · 1k+ votes
    9y

    2010 Nissan xTerra

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    I have to update..

    I bought a Tesla Model 3 base model 60 in sept.. brand new.. then I just bought my wife a Model X 75 all wheel drive and took delivery yesterday;. we are now 100% electric.. these are brand new vehicles.. I will trade mine in in about 2 years the X we want to keep about 5. 

    the best cars on the planet for the money from driving them... totally awesome.  then again I could have bought 15 hood rats in the mid west for the same money LOL.

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  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    9y

    I can't even remember if I ever replied to this post, but if I did, still driving the same vehicles as before. A commuter eco-box 2013 Kia Soul, MT, to bump around town and go to the W2, and a 2004 Nissan Titan 4WD to handle work duties. I do a lot of driving and am near 100k on the Soul and at 140k on the Nissan. Bought the Soul new, but paid $13k for it all in. No frills, but today no frills gets you AC, power windows/door locks, cruise, bluetooth, satellite radio. 30 years ago my "no frills" GMC truck didn't even come with a radio or carpeting. In fact, automatic choke on the carburetor was an option. Imagine that! 

    I love new cars (and trucks, especially) as much as the next guy, but prices are just beyond what I consider reasonable for most things. My Titan was less than $30k new, and a comparable one today MSRP at $45k, with maybe $38-40 out the door. I can buy another house for that price.  

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