I have a 2010 Lexus RX350. To me this is the perfect car for showing homes. It is not too expensive, has good resale value, holds us well under wear and tear, is easy to get in and out of, and gets decent gas mileage.
My frustrations with the car are the services are expensive and each 25-30,000 miles there are the tires - $1300, brakes $2500, and battery - $700. Then after 36,000 miles is the extended warranty for $1800.
I am at that spot and although I do not want to buy a new car,but when I look at the financial sense of paying $10,000 difference for a new car ( nearly $3000) is the sales tax for California, it looks like a good move. It looks like I will pay close to the same and have a new car. The frustration for me is that I an signing on for the same frustrations down the line.
I know eventually I will need to sell one of these cars myself and then downsize to a lower price car with less expensive brakes, tires, and service.
Have any of you gone through this? What did you do? How important is a new shiny Lexus SUV for high end real estate clients? Does a new car help sell homes or build an image?
I am trying to analyze this financially and hang onto my money in the smartest way possible.
LORI BOWERS
http://www.desertareahousingmarket.com
The Lori Bowers Group
A boutique Real Estate Office, with a full service team to serve all your Real Estate Needs
La Quinta, Palm Desert, Indio, Rancho Mirage, Coachella , Indian Wells and the surrounding Palm Springs Area.
78065 Main St., Suite 107
Old Town La Quinta
La Quinta, CA 92253
Phone: (760)777-8788 • Fax: (760)771-5355
I hate to say it Lori but I now own a Lincoln Town Car that has been "dressed up" and every time I get out of it for an appointment I am told "nice car" or buyers say its like riding in a limo. I think there is a certain perception that goes with our vehicles. A newer car gives the impression of success. Im 6'4" and I will never own a Prius or Smart Car LOL If you buy an American Luxury car you will notice a large decrease in your maintenence costs The new Caddilacs are Amazing!
Depends on your real estate market. In rural areas, if you drove a Bentley, Lincoln, Hummer that works against you. You're making too much money or flaunting it. Clean, late model anything all your need. If you sell lots of land, waterfront recreational properties back on seasonal roads, I find jeeps work well. Go as far as you can in two wheel, shift in to four wheel drive to get out. Unless you are trying to make a jeep commercial in your listing, selling.
I'm a very practical person, so I always look for ways to save. I have a great car that works great for me....I don't allow clients to ride with me so I don't need to impress them with the inside. I keep it clean and maintained. I chose my car by carrying my yard sale sign around the parking lot of the dealership with the requirment that my sign must fit in the trunk. Got quite a few stares and handed out some cards.
But first and farmost....I hope you own your home and are not in the process of purchasing one....if so...WAIT until after settlement. Don't kill that deal! :-) Good luck and Happy Shopping if you decide to trade.
Lori, I've owned over 35 cars, Range Rovers, Mercedes, Lexus, BMW and many American cars but my all time favorite is my 2004 Jaguar. Services have been very reasonable inaddition to the car having very good road manners. Not for everyone.
Good luck and have fun shopping!
I drive a Ford hybrid and really have never owned anything nice my entire life like a Lexus exactly because of the reasons you describe. I try to buy American too. Remember, if it's built in the US the parts and service are always much cheaper. And, since I don't drive anyone around who cares what I drive. You're better off downsizing to something like a Chevy Equnox. Nice looking, cheaper, great gas mileage because of the direct fuel injection, and you will look just fine driving around in it.
I would just keep the car until it is paid off with no car payments. Then when you find a car that you really like you can trade in with smaller payments.
I used to get a new car about every 2 years, now I just pay cash and have no payments.
Those taxes in CA are crazy sometimes!
all the best
your friend in Charlottesville
I use an independent certified mechanic for my Jaguar who is less than half of what the dealer would charge. Try to find some other RX owners out there and they'll steer you in the right direction Lori.
We had a neighbor come over last night and ask Bob many questions about selling her car, buying or leasing a new one, etc. Give him a call-- he has some good solutions and knows the other side of deal as well. 760-333-8823 Kathy
Thanks for all the good input. These are all great ideas.