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a fully loaded accord will cost as much as the base model of many of these cars. The ones you see on the "buy here, pay here lot" are typical "turnover vehicles" and I wouldn't touch one with a 10 foot pole.
The new vehicles are typically purchased by people with a little bit of coin, doesn't mean you have to be old to afford one...and old is relative anyway, but you're typically not poor.
Luxury vehicles have a certain amount of appeal, but it's mostly a status symbol. Like most status symbol items, the older model will depreciate rather quickly...this has turned many people who historically couldn't have afforded these cars to become 2nd and 3rd owners of them...they like that it's a luxurious or expensive (when new) vehicle...and the folks who original purchased the car, have already moved on to buy another new model 3 years later.
Yeah, the payments are my Mazda3 were higher than the lease on a 5-series is now. I bought that when I was six months out of college. I'm pretty sure I wouldn't have been approved for the promotional lease deals on a 5-series at 23, but just in terms of payments I could have afforded it. They're not that expensive to lease.
I dont know that Lexus ever truly made it to the "prestige" level. Mercedes and BMW were at one time, but Lexus wasn't even around back then. Certain models of Benz and BMW still are, but the brands in and of themselves no longer are. As someone else said, these days you dont get the "wow" factor unless you are willing to spend serious cash. Bentley, Ferrari, etc. Not that a SL65 AMG is anything to sneeze at.
I know that.....I Never mentioned Lexus in the OP, only in the title.
A late model (last 3 years) Lexus LS 460, a BMW 750, or a Mercedes S550 are prestigious cars in my books. Anyone forking over $80K on a car has large amounts of disposable income.
A late model (last 3 years) Lexus LS 460, a BMW 750, or a Mercedes S550 are prestigious cars in my books. Anyone forking over $80K on a car has large amounts of disposable income.
Perhaps not after paying their car payment. You could live with your parents and make 30k a year and pay 1500 dollar lease payment.
That said, there is some prestige associated with these cars, but they are common enough that there is no "wow" factor.
Last edited by AnesthesiaMD; 04-28-2013 at 09:57 AM..
A late model (last 3 years) Lexus LS 460, a BMW 750, or a Mercedes S550 are prestigious cars in my books. Anyone forking over $80K on a car has large amounts of disposable income.
Nothing special about an S class. Its just another taxi.
Also, in the 80's and 90's, the "illicit pharmacy"" market hit its peak, and suddenly a bunch of people who may not have been able to afford such cars gravitated toward the Beemers and Benzes, which were considered "hood satus" if you will. So even people in poor neighborhoods got used to seeing them.
They all look like Camrys anyway. Where's the prestige in that?
And a Timex looks like a Rolex because they are both, after all, watches. Often the difference between average and great is subtle, recognized only by connoisseurs or at least someone with an interest in the subject. A $30 bottle of wine Vs $100 bottle Vs $1000 bottle, regular wool Vs cashmere Vs the different grades of cashmere, a $1000 crystal chandelier Vs a $10,000 one, etc. Prestige is often lost on the majority, and that is ok. I dont particularly like the type of person who buys something solely for "prestige", but I respect people who buy things out of passion. Often these items carry "prestige" as a side effect.
As a teenager in the 80s, my dream car was a red 380SL convertible.
I think Beverly Hills Cop had a little something to do with it.
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" market hit its peak, and suddenly a bunch of people who may not have been able to afford such cars gravitated toward the Beemers and Benzes, which were considered "hood satus" if you will. So even people in poor neighborhoods got used to seeing them.
