Everyone driving a BMW, Mercedes, Audi, Lexus now. (to rent, to buy)

[antinimby]

LOL. Shallow people.

[Lusiphur]

Originally Posted by Travelassie

That's gone on for years, ie, the number of luxury vehicles on the roads in and around Miami. We lived there for years and saw it then. I've heard that many of those vehicles are leased, with the lease payments being a whole lot more than the drivers can really afford, but they feel they must look successful and driving an old Honda or Chevy sedan won't do that. Some of my Hispanic coworkers explained to me that there is also competition among some of the immigrants arriving in the US to look as though they have achieved prosperity, or wealth, so to that end they drive expensive cars, wear designer clothes and flashy jewelry whatever they can to show their real, or imagined wealth. Don't know how true that is or how widespread the practicd, but we all know there is a "keep up with the Jones" mentality among many folks who figure if the thing to do is to drive expensive cars, they will do so too, no matter how they have to pay for it.

No point in feeling car envy, driving a Lexus, or Mercedes, or BMW doesn't improve you as a person one iota, and you can figure the maintenance and insurance bills on luxury cars is more expensive too. Plus, driving such a vehicle can make you more of a target for robbery for carjacking or other crimes as those out trolling for victims in certain areas assume someone driving a luxury car must be rich.

We drove Honda Civics and an Odyssey when we lived in Miami and were perfectly happy with them.

A lot of the really young drivers are either driving older models or are driving their parents' cars. I really don't see a whole lot of people who look like they're teens/early-20's driving something super nice (though it does happen).

But really, the BMWs/Mercedes/Audi/Lexus is kind of not that big a deal. A lease on a base-model 320i, for example, is significantly lower than the lease on my Mini, and comparable to leasing a decently-appointed Corolla or Ford Fusion. We're talking $160-200 a month, if you pick one up during the almost-constant specials the dealers are running. Same with the A3, and the CLA250. Even the slightly better models often lease out for about $300-ish a month.

What really gets to me is are the REAL luxury cars that are everywhere. I live in mid-beach, and I can't get to work in the morning without passing a good handful of Bentleys, Rolls, Lambos, and Ferraris (and the slightly more down-market Maseratis and Jags). I grew up in the wealthiest zip code in the country (northern NJ - basically where fund managers and IB partners move to when they're ready to start a family), so I thought I would be used to the conspicuous consumption (I mean, half of my high school class drove german luxury cars, and one girl had a fully restored classic gull-wing mercedes). Man was I wrong.

But don't let it get to you - I've met a few of these luxury car owners. Sure, some of them are legitimately super wealthy, but a lot of them are struggling. I personally know two people that mortgaged their homes (homes that they inherited, so no payments) to buy super-luxury cars. So now they're going to be spending the next 30 years paying for that Bentley, and they don't have any money to do anything or enjoy themselves. Not saying that's always the case, but a lot of it really is just show.

[Wild Style]

Originally Posted by UrbanCrossroads

The luxury cars that you see young people (college age) drive usually belong to their wealthy parents.

Not necessarily. I have heard stories of some people taking out leases on these cars, even though they are stretched then financially. Just so they can say "hey, look at me, I'm in a BMW".

[BNBR]

I have employees who stretch themselves to drive a BMW. I don't get it, but they do and it makes them happy.

But besides that, these cars aren't that expensive. Anyone with a decent job can afford a luxury car. Especially an IS250, that's a pretty basic car. You can lease one for $350/mo. A lot of people can swing $350/mo, no cap cost, it's not that much.

I bought my wife a Mercedes GLK350. Got it CPO, fully loaded, just 12k miles - it was basically new. Paid $33k for it. It's around $400/mo.

These cars are just simply not that expensive or hard to afford if you want one. I have several "luxury" cars, but I would also say it's not that big of a deal. If I was the OP and trying so hard to save up for one, I'd say you simply can't afford it nor should you. Use that money for something much more productive. $15k? Buy a nice used car, cash, and invest in other things. Luxury cars are nice, obviously, but also overrated. Even $20k cars nowadays are amazing, comfortable, and loaded with features. I certainly wouldn't stretch to buy a IS250 - what a waste.

[elchevere]

^ ^ ^

Agree...not that expensive, unless we are talking BMW i8 or Mercedes GT S AMG--whole different story.

[BNBR]

With a down payment, leases are advertised at $200/mo for the IS250. There is quite a few people making $12/hr who can swing $200/mo. Many live with parents, roommates, have significant other who pays most of the bills, etc. So it's very easy to afford for a ton of people. Hence why you see so many.

Another point, the OP said he has saved up about $15k. You can buy an IS250 that is 2 - 3 years old for under $20k. So just save up a little more and buy a slightly used low mileage IS250.

[Travelassie]

Originally Posted by Lusiphur

A lot of the really young drivers are either driving older models or are driving their parents' cars. I really don't see a whole lot of people who look like they're teens/early-20's driving something super nice (though it does happen).

But really, the BMWs/Mercedes/Audi/Lexus is kind of not that big a deal. A lease on a base-model 320i, for example, is significantly lower than the lease on my Mini, and comparable to leasing a decently-appointed Corolla or Ford Fusion. We're talking $160-200 a month, if you pick one up during the almost-constant specials the dealers are running. Same with the A3, and the CLA250. Even the slightly better models often lease out for about $300-ish a month.

What really gets to me is are the REAL luxury cars that are everywhere. I live in mid-beach, and I can't get to work in the morning without passing a good handful of Bentleys, Rolls, Lambos, and Ferraris (and the slightly more down-market Maseratis and Jags). I grew up in the wealthiest zip code in the country (northern NJ - basically where fund managers and IB partners move to when they're ready to start a family), so I thought I would be used to the conspicuous consumption (I mean, half of my high school class drove german luxury cars, and one girl had a fully restored classic gull-wing mercedes). Man was I wrong.

But don't let it get to you - I've met a few of these luxury car owners. Sure, some of them are legitimately super wealthy, but a lot of them are struggling. I personally know two people that mortgaged their homes (homes that they inherited, so no payments) to buy super-luxury cars. So now they're going to be spending the next 30 years paying for that Bentley, and they don't have any money to do anything or enjoy themselves. Not saying that's always the case, but a lot of it really is just show.

I have to admit that I haven't seen many of those "real" luxury cars around ( we aren't likely too either where we are now living), but I'm not even sure I would recognize one of those you mentioned in any case, I just don't care enough to even find out what they look like.

But what anyone else drives is not about to "get to me"either. While I might question the wisdom of going broke driving a vehicle one clearly cannot afford, as long as I don't have to foot the bill, or get involved in it, I don't care what anyone else is driving.

[Bobdreamz]

Miami is a "flashy" city so people flaunt it with luxury cars. This isn't Paducah, Kentucky so if you can afford the payments what's the issue?

[tallrick]

If luxury cars are so great, why is it that my used cars get so much more attention? Driving my 1969 Charger, Imperial. even the 1970 truck attracts people who look, take pics and ask questions.

[BNBR]

Originally Posted by tallrick

If luxury cars are so great, why is it that my used cars get so much more attention? Driving my 1969 Charger, Imperial. even the 1970 truck attracts people who look, take pics and ask questions.

Because old cars usually rust away before 2016, especially Dodges.... So it's rare to see one. I'd probably point and take a picture, too.

Wouldn't it make sense that cars have only gotten better over the last 45 years?