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What I seen frequently is some single mom with 3-4 kids in a Porsche Cayenne SUV. That thing costs around $60-75k but are driven a lot by middle or lower income folks that are probably paying $600-800/month to lease.
So now a single woman can't make enough money to afford a Porsche?
You are just like those dbs who see my house or car and ask what my husband does for a living. One guy even asked if my daddy got me the car. Eff this attitude.
Dave Ramsey is debt averse. For many people who can't save or don't have their finances in line this is a smart strategy. Why further go into debt when you know you won't be able to dig yourself out of it. For many this thinking works.
It is just for status. People like attention and like to have the status of owning a luxury car. You can drive in the hood and very poor neighborhoods and see 50K cars, just material status symbols for some to appear wealthy. It's silly and just materialism.
I'm not sure I agree. I bought my Camaro, which I guess is a sports car, not a luxury car, but the same dissagrement stands, I did not buy it as a "status" symbol, or to "show off"
Actually the thing I hate the most about the car, is the attention it gets, which I honestly never thought of before I bought it, I realize it though everytime I get gas.. I got that down to about 30%, the trick is, where a hooded sweatshirt, with the hood over your head, and look down, no eye contact, people are alot less likely to strike up a converstation ..
anyways . . I bought the car because I like Camaros, had an older one when I was a teenager, and wanted one again, I bought it for me. I like driving it, its "fun" as my "truck" is boring to drive..
I'd imagine the same goes for some or alot of people who buy luxury cars. I bet the actually like the car, and the features, and could give two hoots about what "image" you guys think they are "trying" to project.
and, unless the repo rate for luxury cars is through the roof in the last 10 years, and isn't on the same average it has been for the last 30 years, I'd bet most people afford them just fine, weather its buying them used, saving up before hand, or what have you .
Lease numbers vary depending on credit and terms. I had a relative that leased a Lexus for $700/month while I could probably get that for $400/month with good credit but that's how the game goes.
Credit won't make a $300 swing difference in lease payments.
It is just for status. People like attention and like to have the status of owning a luxury car. You can drive in the hood and very poor neighborhoods and see 50K cars, just material status symbols for some to appear wealthy. It's silly and just materialism.
This is entirely false. I want a 4-door car with a lot of technology features with a 0-60 under 5 seconds, and good lease rates. That narrows me down to a very few cars, and most of them are luxury brands. I don't give a damn what everyone else thinks of my car, it's for me to enjoy driving.
I've kind of wondered that too. Most of my neighbors drive newer SUV's or cross over vehicles. My wife and I drive a 2002 Chevy ZR2 Blazer and a 2003 Pontiac Grand Am GT1. Both long since paid for obviously. Both look good for their age and function flawlessly, presently anyway !
I have been looking for a newer vehicle recently. As I mentioned, both vehicles work fine, but with my Grand Am having almost 180,000 on the odometer, we should probably have at least one newer car in the house hold with less miles on the clock. I haven't had a car payment since 2006 and to be honest, I like it that way. We have an extra $700 a month to use for other enjoyable things. We'll figure something out and probably end up buying a 1, 2 or 3 year old vehicle with 20-50 thousand on the odometer and it will serve us well for 10 or 12 years hopefully.
I think most people just accept that they will always have a car payment.....so why not go upscale. I've not been that way, and prefer to save my money, or at least use it for what in my own opinion amount to more important things in the long run. Saving for retirement, traveling, eating good food etc... Funding your retirement should obviously be important to everyone, traveling makes good memories (which are forever) and expands your horizons and world view, and good food helps you take proper care of yourself.
But as they say, to each their own ! Some can probably do it all, but my guess is most can't and something else, perhaps more important in the long run, suffers.
Let me just say, that I own 2 BMW 3 series cars. That means nothing. Bought them both used, and paid about what a used Honda or toyota would have cost. Enjoy the heck out of driving them, as they really are a drivers car. I don't care about perception. I'm too angry sitting in traffic much of the time to be bothered with that. we make about 100k per year in our house, and i think of us as struggling, in central alabama of all places. Teens cost a lot.
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