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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.
Same reason why someone who lives in rural America, nearly living in a trailer park, spends thousands on guns and ammo.
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've noticed that, too! I just don't know why they blow their money on pricey cars.
I guess that sometimes they bought them used, or sometimes they LEASE them (bad idea for an everyday person to lease for personal use, is what I've read...it costs you more in the long run).
People seem to live above their means these days, more than the 1950s when it was fashionable to outdo the Joneses next door.
Agreed. Leasing is very common. New car every 2-3 years, but nothing to show for it after the lease ends. It's part of the "immediate gratification" mentality. I'm not a fan myself.
But you always have a shiny new car if you lease. But I am with you, we drive our cars till they wear out.
Location: In a little house on the prairie - literally
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Quote:
Originally Posted by mainebrokerman
more people lease now and car companies are offering lower monthly payments for nice vehicles
it costs an arm and a leg to fix used older vehicles,,,,and it may be worth the peace of mind ..the car wont break down
Are you serious?
I just replaced my 2003 Montana van, with 180,000 mile on it. I've had it 5 years, and didn't have to spend $1,000 in maintenance, including oil changes, tires, brakes and alignments. If I had not come across the great deal on the Escape, I would still drive it. It's been across the US from Montana to Florida four times.
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.
Any chance you're in a Chinese community? I used to hear "you know you're Chinese" jokes like "...when you drive your Mercedes Benz to Kmart", or "... buy one dessert, and share it with 3 other people". This seems to be their thing [shrug].
FWIW, some of them are affluent enough to buy such vehicles... $50K to $80K is easily within their budgets. Hell, my dad pointed out to me (this was roughly during the late 80s, early 90s) one friend of a friend who was doing so well that he traded-in and got a new Mercedes every 3 years. They're made to last a lot longer than 3 years, just fine. And while he gets money back to apply towards the next vehicle, it's hardly the best value. But that's 'his thing', and he does it.
Last but not least, a white coworker of mine got a Lexus because he was into that sort of thing. Dunno if we could consider him "affluent", but I guess we could say so. IIRC, he was renting in the basement of a house at the time, and between being frugal like that, while having taste and class in the vehicle of choice, was one thing that attracted his (then) girlfriend to him. He seems to know how to manage money, and last I heard, he left his current job paying $60K for another one that bumped him up to $90K. I'm sure there were better ways for him to spend that money, but eh... he can afford it, and it's his money. No harm to anyone else really.
Yet another coworker was in a group discussion, and he's of the opposite thinking, much aligned with this thread and myself... "If I win the lottery or have the money, I'm still buying a Toyota Camry. There's nothing in a luxury vehicle that I'd want to spend all that money one".
TL;DR... folks are frugal in some ways, but most everybody has SOMETHING that they'd spend more money on than the average. We just need to pick and choose our financial battles is all.
Last edited by ackmondual; 10-18-2015 at 08:08 PM..
Far too many people want things that they can't afford. Owning an expensive car says a lot about who you are. People have always been buying the better, fastest, and newest thing. We are taught in school to be consumers.
I lease because I see no pride in car ownership like others do. A vehicle is nothing more than a depreciating appliance that will one day be sent to a scrap metal yard. I prefer having the peace of mind of always driving a car that will be covered under warranty. I have little time and patience to deal with shady mechanics and the headaches associated with big ticket maintenance issues such as transmission failure. In the past 5yrs I havent spent any money maintaining my car other than car washes and wiper blades. Even my oil changes are covered for the duration of my leases which I take full advantage of.
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