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I live in Miami. I always see lots of people, driving new BMWs, Mercedes, Lexus. These cars cost more than 30k, yet you see everyone driving them like is nothing. I'm particularly fond of the Lexus IS250, which is the cheapest Lexus you could get, yet I see it everywhere here. I know they are driving the new version because it has that long grill in the front. This car costs more than 30k. Many of them, even have the IS250 and IS350 F sport, which costs even more.
The other day I was in Miami and went to Starbucks to get me some coffee. I saw a girl, around 20 years old, get out of Starbucks and get into a new BMW M5 series. I was like WTF, the first thing that popped into my mind, was she must be an escort, but it seems common here. You see it all the time. How the hell can they afford these vehicles? It is impossible not to feel car envy. Here, I'm driving a piece of crap domestic from 2004 and saving my money to hopefully buy a nice car someday, yet some 20-year-old girl drives an M5. I have like 15k saved up, but that is nothing. It wouldn't even get me a new Corolla.
You could say, well they are driving used luxurious cars with high miles, not really because I know cars, models and years. I know they are driving mostly 2013+ vehicles. So, how do they do it?
I guess they get into huge debt or simply lease, just for the looks and status that comes with it. I guess that is only way the average folk could get into these cars.
Leases make it much easier. Lots of people, especially the younger crowd, live month to month... rent and leases. It just stalls their ability to save for a house/kids, but what do they care right?
I live in Miami. I always see lots of people, driving new BMWs, Mercedes, Lexus. These cars cost more than 30k, yet you see everyone driving them like is nothing. I'm particularly fond of the Lexus IS250, which is the cheapest Lexus you could get, yet I see it everywhere here. I know they are driving the new version because it has that long grill in the front. This car costs more than 30k. Many of them, even have the IS250 and IS350 F sport, which costs even more.
The other day I was in Miami and went to Starbucks to get me some coffee. I saw a girl, around 20 years old, get out of Starbucks and get into a new BMW M5 series. I was like WTF, the first thing that popped into my mind, was she must be an escort, but it seems common here. You see it all the time. How the hell can they afford these vehicles? It is impossible not to feel car envy. Here, I'm driving a piece of crap domestic from 2004 and saving my money to hopefully buy a nice car someday, yet some 20-year-old girl drives an M5. I have like 15k saved up, but that is nothing. It wouldn't even get me a new Corolla.
You could say, well they are driving used luxurious cars with high miles, not really because I know cars, models and years. I know they are driving mostly 2013+ vehicles. So, how do they do it?
I guess they get into huge debt or simply lease, just for the looks and status that comes with it. I guess that is only way the average folk could get into these cars.
Alot of people driving luxury cars now because it like status
I guess they get into huge debt or simply lease, just for the looks and status that comes with it. I guess that is only way the average folk could get into these cars.
Some have a sugar daddy/mommy.
Some have parents that want to relive their youth in their children's life.
It's Miami- the longtime safe haven for big money families from Central & South America. Some of them end up moving to South Florida full time and managing businesses and assets from afar. And they aren't going to drive a worse car in the States than they'd have back home.
Years ago I knew an auto dealer in Miami. He told me that from time to time people would pay for a new car with cash, as in green money. He said if it was small bills, it was a street dealer. If it was large bills, it was a wholesaler/importer.
As others have said, it's really not that difficult to drive a luxury car with a lease. And, some people will do that even though their monthly payments are sky high and really too much for their income.
Also, don't dismiss where you live. While certainly a lot of luxury cars are drive for status and by people living above their means, there is actually a subset of the population in South Florida for whom such a car is within their means.
Finally, it's easy to notice luxury cars. You see what you want to see. Crappy or moderate cars are easy to ignore. Take a broader view in a slightly bigger area and you'll notice that not "everybody" is driving a luxury car.
Used entry-level Luxury cars (IS250, C-class benz, 3-series BMW, G37's, etc etc) depreciate fast. There are just so many they they drop like a rock in the used car market.
Just for the hell of it I opened up a local Lexus dealer and searched for 2013 IS250's and found several for sale around $20K.
Wonder how many are government(taxpayer money) paid for cars? Use to be, around here anyways, if you saw a high end car, the driver got welfare and food stamps!
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