Can People Really Afford These Luxury Cars?

[steppinthrax]

I'm around 30 yo and make over 136K a yr. I drive a 1999 Toyota Camry with around 104K on it right now. Just a few weeks ago I did (by myself) a timing belt change along with oil pump seal, crank seal, cam seal. I have excellent credit and can walk into a Jag, BMW, Mercedes, Volvo dealership and finance/purchase any of their mainstream vehicles. If there is any issue on if I could afford it, I probably have enough liquid to purchase it outright. My philosophy is I drive a vehicle to get from point A to point B. As long as it's safe, reliable and efficient that is good enough for me. I will likely drive my Camry until the wheels fall off and it is beyond mechanical repair. I don't give a shit what anyone thinks about me based on what I drive.

Anyway tend to see people who drive luxury vehicles. My suspicion is....

1. Vanity issue, insecurity, stroke myself, status seeker, "emulator". (Probably 80 to 90% of the owners)
2. VP, Director, CEO (C class), Some MDs, Excess of 200K a yr (usually more) (5 to 10%).

 

[JulesMaximus]

You never know. My wife's Mom drives a 2010 Mercedes E350 sedan but she could easily afford a much higher end car, she traded in a 2002 E350 sedan and paid cash for the difference. The CFO here drives an older E350 sedan (2009) but he lives close by and the car is immaculate and looks really nice. I'm sure he didn't finance the car.

We also have guys here who make 6 figures and drive 10 year old Acuras.

I just bought a new Camry but my last car I had for 10 years so I'll probably keep this one for nearly that long.

By the way, it is really hard to pull off a post like that without looking like a huge douche. You didn't succeed.

 

[Kroze]

Meh, personal preferences as to where they spend their money. Some people spend all of their money and savings on Stamps and collectibles.

 

[JackBurton]

The reasons you listed are definitely some of the more common justifications/reasons people buy luxury cars, but you forgot one:

3. A better driving experience.

Understand, you may be satisfied with the basics in life, but others find worth in a luxury car because it improves their driving experience. There are a lot of people that spend quite a bit of time in their car, so why not make it the best it can be?

Don't get me wrong though, most people fall into your first category. But there are others that buy a car for the love of the car: Porsche, Jag XKR-S, BMW M series, Nissan GT-R, Mercedes AMG, Aston Martin, etc. You aren't getting that kind of driving exhilaration out of a Toyota Camry. But then again, that may not be what you are after in a car.

It's just another way to enjoy life. Some people have kids, others buy cars. I can't for the life of me figure out why people want kids, but they do. And they're MUCH more expensive than a luxury car. Actually, much more expensive than SEVERAL luxury cars.

 

[PricklyPete]

Ah yes, this thread again.

 

[thegimp03]

Pretty big mix around here. On one hand there's a lot of sub-30 year olds who aren't C-level/VP/Director level, but they have some money because they cashed in stock from an IPO. They'll either drive Fiskers/Teslas if they're a "tree hugger", if not, 911 Turbos, Nissan GTRs, or something along those lines. It ranges big time for people a little bit older as well. The other day, I met a Portfolio Manager who looks like he's in his mid 40s and was starting up his 458 Italia, but the VP of my group drives a late 2000s model VW Jetta.
I had a professor in college whose wife had made it big as CFO of a company during the dotcom bubble and was invested in Berkshire Hathaway Class A. He usually drove an old Prius to work, but one day, the Prius broke down so he drove his Bentley instead. Guess it comes down to the fact that lots of people who have money don't show it off by buying expensive cars.

 

[j&j]

I'm around 30 yo and make over 136K a yr. I drive a 1999 Toyota Camry with around 104K on it right now. Just a few weeks ago I did (by myself) a timing belt change along with oil pump seal, crank seal, cam seal. I have excellent credit and can walk into a Jag, BMW, Mercedes, Volvo dealership and finance/purchase any of their mainstream vehicles. If there is any issue on if I could afford it, I probably have enough liquid to purchase it outright. My philosophy is I drive a vehicle to get from point A to point B. As long as it's safe, reliable and efficient that is good enough for me. I will likely drive my Camry until the wheels fall off and it is beyond mechanical repair. I don't give a shit what anyone thinks about me based on what I drive.

Anyway tend to see people who drive luxury vehicles. My suspicion is....

1. Vanity issue, insecurity, stroke myself, status seeker, "emulator". (Probably 80 to 90% of the owners)
2. VP, Director, CEO (C class), Some MDs, Excess of 200K a yr (usually more) (5 to 10%).

"deleted"

This is not OT so this type of rant is not wanted or will be tolerated here...

AT Moderator
Bartman39

 

[JulesMaximus]

The reasons you listed are definitely some of the more common justifications/reasons people buy luxury cars, but you forgot one:

3. A better driving experience.

Understand, you may be satisfied with the basics in life, but others find worth in a luxury car because it improves their driving experience. There are a lot of people that spend quite a bit of time in their car, so why not make it the best it can be?

Don't get me wrong though, most people fall into your first category. But there are others that buy a car for the love of the car: Porsche, Jag XKR-S, BMW M series, Nissan GT-R, Mercedes AMG, Aston Martin, etc. You aren't getting that kind of driving exhilaration out of a Toyota Camry. But then again, that may not be what you are after in a car.

It's just another way to enjoy life. Some people have kids, others buy cars. I can't for the life of me figure out why people want kids, but they do. And they're MUCH more expensive than a luxury car. Actually, much more expensive than SEVERAL luxury cars.

:whiste: They are much more rewarding too.

Seriously, that's a really really really stupid comparison.

One of my best friends lost his 14 year old son last summer. That has left a hole in his heart that no fucking car on the planet or even all the fucking cars on the planet could ever fill.

 

[Midwayman]

A lot of rich people got that way by being incredibly cheap. No surprise they don't see the value in splashing out for a expensive car that's only going to lose massive value in a couple years.

 

[JCH13]

How ironic that you: "don't give a shit what anyone thinks about me based on what I drive" yet you are so prejudiced as to think that essentially everyone who does have a luxury car has/is: "Vanity issue, insecurity, stroke myself, status seeker, 'emulator.'"

While you're being smug by having an unexciting, cheap car remember this: there is someone just like you who spent more money on a car that they enjoy driving and are having a ton of fun on their commute every day while you're not.

 

[thedarkwolf]

What I don't get are the people in my neighborhood driving new cars. I live in a lower income area and do ok and have two older cars I paid for in cash. I keep a decent amount of cash in the bank. A lot of my broke ass neighbors though drive brand new cars some have two. I'm not talking jags here but $20k-$30k cars when the houses in this area are worth around $40k average, yes housing is cheap here. I'd much rather move out of this area and drive a 10 year old car .

 

[Charles Kozierok]

1. Vanity issue, insecurity, stroke myself, status seeker, "emulator". (Probably 80 to 90% of the owners)

I'd find your judgmentalism here easier to swallow if you hadn't started out by telling us how much money you make.

 

[SpatiallyAware]

I think we're getting trolled here. Why else would someone post something like this in a garage forum?


And sorry, I don't drive a camry because I would be compelled to veer directly off a cliff out of boredom.

 

[Throckmorton]

OP, it sounds like you're cheap. There are many fun (and not luxury) cars that you could drive, but you settle for the most basic A-B transportation available. To me, spending an hour or more a day in a boring car is wasted time

 

[xanis]

I bought a new car last May and paid cash for it. I could have easily taken the financing route and bought a car that was twice or even three times as much as the one I got, but I decided that I'd rather write a check, get the title, and be done with it. It's all about priorities.

 

[amdhunter]

Just maybe...I don't know - some people buy expensive cars because they genuinely enjoy them?

 

[Zenmervolt]

If you don't care what other people think about you, why is 90% of your post spent defending your decision? Seems to me that you care deeply about what people think of you.

ZV

 

[JackBurton]

:whiste: They are much more rewarding too.

Seriously, that's a really really really stupid comparison.

One of my best friends lost his 14 year old son last summer. That has left a hole in his heart that no fucking car on the planet or even all the fucking cars on the planet could ever fill.

I'm not comparing it at that level. You don't have an emotional attachment to a child pre conception. At that point you are making a decision to have or not to have a child. And the reason you have a child is because you WANT a child. I don't want one, and have no desire to have one. And when someone starts talking about the joys of children, I just say, "that's nice. I'll think about that when I'm on the beach while you're in your parent teacher conference." And no, I don't want to hear about your money problems. You chose to have a kid, so have fun. Same as I'm sure you wouldn't want me to complain to you about having problems making a payments on my luxury car. Both of those were conscious choices.

This is waaaaaay off topic, so if you'd like to continue this discussion, I recommend starting a new thread in the OT forum.

 

[Sidekicknichola]

some people buy expensive cars because they genuinely enjoy them?

This is why I have bought them recently.

My first cars were Hondas (civic / prelude / accord). ... all of them good and reliable, but not all that comfortable.

... I ended up wanting an AWD sedan (didn't exist from Honda) so went with a Lexus and having plush seats, a nicer ride, and creature comforts meant that when it was new car time I was looking luxury again... ended up going Acura. Trying to find AWD sedans is somewhat tough in the "economy" car market, while on the other hand almost every luxury brand offers an AWD version of most of their vehicles.

If I could get a similar ride, comfort, and features on something cheaper....you bet I would; I don't really care what I'm seen in either, I just want to be comfortable in the driver's seat.

 

[roguerower]

The owner of my company has gotta be worth hundreds of millions but he drives a late 90s Saab. Different strokes for different folks.

 

[TallBill]

I've never spent more than 10k on a car, but it doesnt bother me when other people do.

My sister likes to buy a new SUV every 4-5 years. I could lecture her on the waste but that would be a dick move. She has her finances in order and can afford it, and she loves her vehicles.

Now if she was struggling to feed her children it could be an issue. Would have to be something really dumb for me to open my mouth.

 

[Sidekicknichola]

The owner of my company has gotta be worth hundreds of millions but he drives a late 90s Saab.

Our guy too... or at least I thought so. Every day (that I noticed) I would see his olllllldddd Volvo parked in the president's spot. Blew my mind, until one day I saw a Ferrari there. Found out from someone he has a HUGE car collection, but doesn't like bringing them to work (tries to be modest).

Vanity issue, insecurity, stroke myself, status seeker, "emulator". (Probably 80 to 90% of the owners)

Is that kinda like posting your salary (Above average) and why you think other people are stupid for having nice cars on a public forum?

 

[JulesMaximus]

I'm not comparing it at that level. You don't have an emotional attachment to a child pre conception. At that point you are making a decision to have or not to have a child. And the reason you have a child is because you WANT a child. I don't want one, and have no desire to have one. And when someone starts talking about the joys of children, I just say, "that's nice. I'll think about that when I'm on the beach while you're in your parent teacher conference." And no, I don't want to hear about your money problems. You chose to have a kid, so have fun. Same as I'm sure you wouldn't want me to complain to you about having problems making a payments on my luxury car. Both of those were conscious choices.

This is waaaaaay off topic, so if you'd like to continue this discussion, I recommend starting a new thread in the OT forum.

You made the comparison not me. You are trivializing something that means a great deal to nearly all the people on the planet by comparing the decision to have children to that of buying a car. It isn't comparable... not even remotely.

I used to be like you. Never wanted kids but I fell in love with a woman who did so we had one. Wouldn't change a thing about my life... certainly not for something as trivial as a car.

 

[JulesMaximus]

I think we're getting trolled here. Why else would someone post something like this in a garage forum?


And sorry, I don't drive a camry because I would be compelled to veer directly off a cliff out of boredom.

You know, they have some pretty good deals on the Camry right now. I could put you in touch with my guy if you want.

 

[JackBurton]

You made the comparison not me. You are trivializing something that means a great deal to nearly all the people on the planet by comparing the decision to have children to that of buying a car. It isn't comparable... not even remotely.

I used to be like you. Never wanted kids but I fell in love with a woman who did so we had one. Wouldn't change a thing about my life... certainly not for something as trivial as a car.

I know I did, and it's a fair comparison whether you want to see it or not. Again, you can take this off topic and I'd be more than happy to engage in a nice discussion with you.