ThermonMermon

Im about to graduate from my MBA in the winter and im seriously considering jobs in Miami/Ft Laud so i could get out of Manhattan. I have some Qs about leasing a car and getting insurance (this is a first for me on both fronts). my credit should be close to perfect.

id like to keep my expenses around 2k for rent (rent to own) + car lease + auto insurance.

please give me any opinions suggestions:
1. car, typ insurance rate / company
2. ft laud VS miami
3. lease to own condo scenario

im looking to spend around 400 a mo on the car lease. so im thinking of a base 328i coupe, no options, w/ manual. avg lease pmt? how much to insure?

any other car opinions? i cant think of any other coupes that really get my attention.

charliemike

Ford Mustang? *runs*

Seriously though, you probably couldn't go wrong with a free-maintenanced 328i ...

ThermonMermon

to be honest, im a bit of a badge whore - or at least ive been told i should be if living in miami (im single).

do A5 2.0s have decent lease pmts?

alex2364

A stripped BMW isn't worth it at all. I'd rather get a TSX with navigation than a stripped 328i.

charliemike

Audi A5 lease deal in DC

It's DC so maybe Miami is better/worse but it looks like $429/mo for an A5 with $3400 due at signing. That's for an auto A5 Premium with an MSRP of $38k. 3 yr/30k mile lease.

ThermonMermon

im seeing the same special for Audi Miami. How much is insurance typically for a 25 yr old male. clean record (currently), no accidents, but 3 speeding tickets from years back.

Will Y.

Call some local insurance agents for quotes now with specific cars of interest since you're shopping for cars-- there may be some pretty big differences depending on car configuration and options.
You can also ask for renters' insurance quotes as well.

In CA, moving violations over 3 years old are not of interest.

G/L.

ThermonMermon

curious to see what a CTS coupe will be per month by december. if insurance and price is right, i would get it in a heartbeat. wouldnt even need a test drive, i would just lease the damn thing.

VQPower37

u can probs get a good lease on a cts considering its a gm

mrmako

A few things:

1) If your work is in Miami, then live in Weston (inland a touch). No other area of Miami is nice unless you have a lot of $$$ and can afford something by the water. Weston is a nicer area, not high crime.

2) If Ft. Lauderdale is your choice, then inland unless the ocean is a priority. It is still expensive to see the ocean, but living in lets say, Sunrise, can be a lot cheaper. Plus, close proximity to I-95 / Turnpike / Sawgrass Expressway will make commutes easy.

3) On the car front, my brother got his Mini Cooper S at Vista BMW/Mini. He does a lease because he likes to change cars every 2 - 3 years. So lease or buy is your discretion.

4) And the type of car. Well, theft is a pretty realistic thing to think about. So I would stay away from flashy cars unless you secure them well (garage, gated community, etc..). But you will want a fuel efficient one. Commutes there do suck. The Cooper S is alright if you like those. And another coupe is the Hyundai Genesis. Look good and don't scream money. Al Hendrickson is one dealer there. I visited Coconut Creek Hyundai and their salespeople were assholes. Don't go there.

Edit: One last thought on a lease. Unless you live close to work, you will pile the miles on. Really. So if you have a daily beater to use, better to put the majority of miles on that.

ThermonMermon

thanks. im looking at rent to own places in the 13-1500 mo ballpark. def set on a car lease, although i have no idea how much to put aside for insurance. im looking at luxury bldgs, so im assuming that parking/theft will not be an issue.

how much should i expect for insurance? ~200/mo?

mrmako

Depending on the car, that sounds like it's in the ballpark. If you're in one of those hi-rise places with security, then you should be OK with a more flashy car. Then I would visit Vista up in Coral Springs and get a 330i.

For an Audi, Prestige is good. They are in Pompano.

ThermonMermon

im also looking at a wrangler 4 door with foldable top. any car with lots of natural light would be great - which is why i like the A5 glass roof. maybe a mustang vert wouldnt be a bad idea either. cant think of any non-domestic verts that really get my attention in my price range. the a4/a5/328 verts are way too expensive. plus insurance may be a bitch. thoughts?

Carraway

I've never lived in Florida, but that's a lot of expense to take on all at once. As for insurance, pretty much anything with more than two doors is going to get a better rate rate. For example, my insurance company quoted far more for an Acura RSX-S than for either the much more powerful, turbocharged Subaru Legacy GT or Mazdaspeed 3, but all of those were significantly more than a BMW 328i or Acura TSX.

At any rate, you can probably get a better rate and more bargaining room since you'll like be getting auto and some kind of renter or homeowner insurance.

It sounds like you're set on leasing a new luxury badge car. I'd suggest making sure paying for one can be done without too much difficulty given your budget and you still have some to save/invest.

ThermonMermon

since i see where this is going, ill be upfront: im juggling borderline 6-figure post mba opps. if i stay in nyc, im looking at 2500 just to rent. if i relocate to FL, i should be able to get a rent to own, car insurance, and car lease for the same or less as nyc rent alone.

Shoofin

I'm (almost) on the same boat...Been debating with the wife about moving to Miami for a few years now, we used to speak more seriously about it in the past, but now it's more like a fading memory. The only thing that drives her crazy is how much slower everything is there on the local streets, she loses her patience too quickly. Then when you get onto 95 things are extremely fast (when there's no traffic)...

Whatever you do, good luck! I'd love to hear how things work out for you for some ideas..

ThermonMermon

yup, thats certainly one flaw. although, im a fast paced person, esp in a work environment. which is why i think i could excel there much more quickly than a wall st shop, where you are surrounded by ivy leaguers willing to work 80 hours....at least thats my reasoning...along with a MUCH higher quality of living.

1StGenCL

What kind of place are you thinking of renting to own? Condo?

charliemike

Mini Cooper Convertible? :ghey:

It is Miami, after all

ThermonMermon

yup. condo. maybe in the Brickell area.

ThermonMermon

haha. no thanks. i have a feeling all of my dreams will be crushed when i get insurance quotes for an A5 / 328. the move isnt for a couple months, but we will see.

i wouldnt mind looking at a 4 door wrangler - blk on blk, foldable top, w upgraded radio and a nice dealership oversized wheel option (black, preferably). cheap, rugged, an open aired. if im moving to a beach area, i wanna enjoy the ride to the fullest.

1StGenCL

Just to give you an idea of insurance, I had full coverage on my '05 TL in West Palm with no tickets in my life (minus a seatbelt in Maryland which shouldnt effect it) along with a break in claim from '06 and my insurance was $2,100 a year with $500 duc.

Johnsteph10

I lived in NYC for 3 years before moving back to the south.

I do not miss it at all.

Life is a bit slower down here -- but you will get used to it quickly.
Cost of living is definitely cheaper.

Miami (Dade county) has fairly high crime and relatively high insurance rates compared to the surrounding areas. It also relatively more expensive. I don't think that you can meet your $2k for house + car + insurance....especially if you are a "badge whore."

If you live outside of Miami proper, you may get a little closer to your goal.

Do you have a job lined up? $100k for a fresh new MBA is a thing of the past, unfortunately, unless you work on Wall Street/NYSE, etc. and put in 100 hours/week.

Cost of living is cheaper...but salaries are relatively lower as well. It is an important point to consider.

Welcome to the South (but FL isn't the south!).

CL6

Have you financed a car before?

ThermonMermon

no real offers yet. dealing with recruiters at the moment b/c i still have one semester left. recruiters have been giving me current job opps that fit my credentials (80-100k with bonus). i obviously cant jump on this now, but if the opps are around in december, i should be golden.

as for insurance: i may just consider staying on my family plan and fronting the money to parents. (i do this shamelessly with my cell - theres no point in wasting $$).

im still playing with job opps in NYC as well...still have three months to make a decision. this thread was started a bit prematurely to simply get a "feel" for a new city.

1StGenCL

Yea, I didn't want to be the first to say it but I have a few friends with experience and MBAs that have been laid off and are searching for work. They used to be making 100k but now are willing to take considerably less and still can't find work. More power to you if you are finding 6 figure jobs but there is some SERIOUS competition for them so....

Also, as someone that is moving to Miami (prolly ft lauderdale now as you read in my thread), $1,500 seems to be the going rate for a decent place in an ok area. I know brickell has some nice places but I wasn't seeing many people doing rent to own, especially at $1,300 a month.

Not trying to be a downer but I know jobs are tough to find and while rent hit some major lows, it is steadily on the increase.

JD23

I'd recommend looking at some other cities in the south if you want to get away from NY. I used to live in Coral Springs, which is one of the nicer cities in Broward County, and am not a major proponent of living in South Florida. It is a nice place to visit, but the congestion, higher than average cost of living, and high crime reduce its desirability as a place of residence. If you're open to other cities in the south and there are job opportunities, you should also look into places like Dallas and Atlanta.

mrmako

My Mom lived in Coral Springs for 15 years, then moved to Tamarac. Have to agree with the congestion. But you must remember, you live where you can get a job. CS id not that bad a place, but there are less desirable areas to be in. The cost of living there is offset by no state income tax. That is worth $5-10K alone.

Further north is nicer (Jupiter, Palm Bay, Stuart, etc...) but no jobs. Melbourne is OK, if you can get a job there.

ThermonMermon

i think im set on a car...if and when i do relocate...drum roll...

tiguan wolfsburg blk on blk with panoramic roof and maybe 19" wheel option. the wolfsburg is the cheapest trim with the pano roof. plus it has an amazing stereo. it comes out to 31/32k. a small suv with pano roof would be absolutely perfect for miami.

just my wish list




picture me rollin'.

do vws lease well?

ThermonMermon

just got back from VW -

Tiguan SE 2.0 w/ panoramic + nav package. comes with vinyl leather seats/steering wheel, 6 spd auto, and 18" wheels with black inserts, matched with a black exterior. $389/mo, 12k, $1700 down (less w/ FL tax and negotiation). im obsessed with the SUV/open roof idea! if i relocate in a few months, this will be it, 100%. keep you guys posted!

ThermonMermon

ok, looks like the offer is coming in.

could either do a lease for ~500 all in, or a CPO for 25-30k.

hot list:
IS250 lease...maybe CPO
328 coupe lease
A5 2.0 CPO for under 30? unlikely?
08 CPO 328 coupe manual
07 CPO 328 vert <- dream machine. but insurance rates on a convertible in Miami? are 328 vert in manual hard to come by?

im a lease guy, and know nothing about CPOs. i would really like to go with an optionless BMW CPO to get the best driving machine for the buck (no nav, no auto, no HID, etc). Hard to come by? Any horror stories on CPO warranties for germans with ~40k miles? Do dealerships bend if its an all cash transaction?

thoughts on different cars?

ThermonMermon

top pick? any budging on the price on something like this? asking is 33.9

http://www.southbmw.com/new_used_car...stk_L6990.html

ThermonMermon

oh, and what about an 07 SLK?

alex2364

SLK are chick cars. A5 or 3 series.

ThermonMermon

thats my gut feeling as well.

A5 would be great, but decently priced CPOs havent hit the market yet. and the tilt only moonroof might be a deal breaker...

nokiaman

That doesn't seem like a good deal considering mileage and price for a 328i.

Color combos aside, it seems like you can get an equally equipped 335i for around the same price...

http://www.autotrader.com/fyc/vdp.js...standard=false

Or if you're willing to travel 70 miles or so, you could look at this chick car...

http://www.autotrader.com/fyc/vdp.js...standard=false

charliemike

Don't be ridiculous. I know lots of guys around here that own them. They're a good combination of coupe and convertible. Especially with the SLK350.

charliemike

Exactly. I hate that term. It's asinine.

ghttf

hey I think a girl looks good in an SLK but personally I would buy a Z4 M coupe

ThermonMermon

i think the new Z4 is the best design in BMWs line-up. i could never live with myself getting a past gen.

the SLKs are going for much less than a 328 vert. if i were to look at an SLK, the only color choice would have to be black to remove any doubt.