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Amazing how many 50k+ vehicles I see parked in middle class neighborhoods, and Q7s parked in the lot at Target. Never saw that 25 years ago. Back then if you saw someone driving a new Mercedes you knew they were well off!
Do all these people finance everything to the hilt? I would think the last thing you would want to own if you had any sort of debt whatsoever would be a luxury car.
I think first you have to realize that they probably didnt buy it brand new. As an example, my Taurus SHO had a sticker price of $47,000. I bought it 2yrs old for $27K. Any number of things could have allowed them to afford it. It doesnt automatically mean they are financed to the eyebrows
Mercedes sells a non luxury line of cars as well starting at the 32k range.
I wouldn't necessarily define luxury by the brand, but rather by the size of the vehicle.
Most auto manufacturers cover every single market segment.
And even a 2015 Passat which is a fairly large car starts at 21k.
You can't really judge a person by the brand of car they drive unless it's a larger higher end German like an S8, BMW 6 Series or MB 550, then you are talking about some serious coin.
There’s not a luxury car out there that won’t see its value halved after three years.
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And *THIS* is how the smart people have the cars. You have to be DIY when it comes to repairs because shop rate is murder, but I bought a turbo Porsche on a $20k/year income and had no issues affording it (actually, paid cash). I can buy a one owner Audi for $2k today if I so desire (considering it for a "beater" ski wagon, weighing the odds against a more-expensive-for-same-year/miles Subaru that'll likely have typical Subi head issues).
Or they buy the more budget-minded options.. Audi A3 is $30k, I think that's the Start point for the Hyundai Genesis and most mid-spec pickups are more than $30k.
Then there are people, again like myself, who haven't had a car payment in over a decade. I've been more than happy with my top-tier Jetta TDI (same quality or Slightly nicer interior finish than the Audi A3, of which we shopped for a couple years as something to simply change to), but I've Also been making car payments to myself. I have nearly $30k to spend... if I wanted a $30k car loan, that means I'd be in the market for a $60k car. Or I could buy cash and be in a ~2 year old/under 20k mile BMW, Audi, Merc, etc...
There are ways to have a "prestige" car on under $100k/year income without killing retirement savings or living in perpetual debt. But those who Can do this also don't, which is how they got into the position in the first place.
As for the majority? paycheck to paycheck, coating by on fumes more months than not and zero savings.
Why do you care what he cares about why he cares what he cares?
J/K - having fun!
I did resolve awhile back to concern myself less with how other people spent their money. I mean, I never really knew what exactly they spent, or how they came up with however much money they spent (so, maybe they could afford it at the moment of purchase) - it was a waste of my time thinking about. I'm happier because of it.
Last edited by ElmoPuffinburger; 10-17-2015 at 01:34 PM..
Reason: spelling
Most middle class folks driving such fancy cars are probably leasing them. Enjoy the status symbol and look cool for 3 yrs, then dump the car for another one.
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