Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It does seem like that would be true, but I would think the reason is that luxury cars correlate with middle-to-high income and that the choice to lease does too. I just don't see many individuals with lower-to-moderate income choosing to lease vehicles and therefore you would see a higher proportion of luxury cars leased.
That tends to be common in newer money areas and in the Sunbelt. I live in an area with a high median household income and most people own vehicles and do not lease them. In most of the real Midwest people drive cars until they fall apart because they have far better ways to spend money most of the time.
This in the same company where the receptionist drove a $50,000 pickup that got repossessed when she could no longer afford the payment, gas and insurance on $12 and hour.
Sounds like this receptionist was a poor manager of her money. $50k is a pretty sizable chunk of change, especially on $12 an hour.
Sweet lady... just very into having nice things... her boyfriend buys her designer handbags and he drives a new car too...
My brother has been in Real Estate over 25 years and he always meets folks that look like a million dollars... nice clothes, restaurants and very nice cars... can't afford to buy anything in the way of a home they like.
He recently sold a home to a guy that showed up in overalls driving a clean 10 year old plumbing truck... saw my brother putting up a sign and pulled over... just an average working Joe with a wife and newborn... they'd been saving for years to buy a home and they did...
If you don't have a money tree in the backyard... I guess it comes down to priorities.
OTOH, I've slept on (supposedly; I've read that thread count is often wildly exaggerated) 1000 thread count sheets, and have no appreciation for them. I've tried, but can't taste much difference between a $15 bottle of wine and a $40 bottle.
I won't pay more for something simply on the assumption that higher $$$ equals better performance. But I will spend more for things when I can appreciate the difference.
Several years ago, there was an article in my local paper where there was an experiment done with wine. The same exact wine was poured into two glasses, and people were told that one was $5/glass and the other was $15/glass. The people polled thought that the $15/glass wine tasted better, even though it was the same stuff that was in the $5 glass.
Penn and Teller also had an episode on their series "Bulls**t", about people who want "The Best". They had a trailer set up behind a fancy restaurant, and in that trailer was a member of their crew, who was preparing "gourmet" dishes using a can opener, a blowtorch, and a toaster oven. It was a pretty entertaining episode.
In some cases, you really do get what you pay for. I'll pay more for clothing that fits well and is well-constructed. In other cases, it's just perception.
A few years back I was looking at some old photos my wife had of her family (1930's) members sitting on a corral fence, the age of the fence sitters ranged from about forty to ten, what looked odd about this pic was that they ALL looked the same, the only difference was the clothing size. Look around you today hair styles, clothing, cars, homes, music, not to mention socio/political views, all are different and mostly because people want to feel very individualistic. It isn't just an outward appearance of difference that carries so much weight either, it's gone deep into the collective thinking that we as a people need to "express ourselves" in individualistic ways that have deeper meaning . Views on various social issues are thought to carry some significant class distinctions, "low class" hillbilly (big pickup truck) equals a kind of mean spirited political affiliation while "upper class" generally is thought to be associated with a more genteel (BMW) social consciousness.
The availability of so much material goods has brought out the "me" "mine" aspect usually seen in the developing behavior of two year olds, this focus on self and possessions is just one of the things that has made our society feel less of a collective and more of a competition, "glamming" isn't new but it's growing spread across the populace is certainly new. There was a time in this country that parents, grandparents, and kids, all had some common interests in their families, communities, and their country. Today the rise of the individual can be likened to a religion, the concept has widespread acceptance, most feel it as a badge of accomplishment manifest, and more to the point, the "reward" for that individual striving is all the stuff that we've been told will determine the identity of who has arrived.....And, who hasn't.
It does seem like that would be true, but I would think the reason is that luxury cars correlate with middle-to-high income and that the choice to lease does too. I just don't see many individuals with lower-to-moderate income choosing to lease vehicles and therefore you would see a higher proportion of luxury cars leased.
I don't know that for everyone but I and many of my friends NEVER intend to own one of those expensive cars out of warranty. And if you can get something like 0.9% on depreciation as your cost to have it for 2 or 3 years and then dump it hassle-free, you would be an idiot to tie your cash up that thing.
Yes, coulda paid cash for my $120k car, but I like paying 0.9% on the depreciation much better. And if the car's value does not match the set residual, it is always in my favor (either I have equity or the lease company takes the hit).
My ex used to work as a banker, and according to him, the richer the person is, the less likely they are to flaunt their possessions. The poorer the person was, the more likely were they not only to flaunt what they don't have (i.e., wear expensive clothes, drive expensive cars) they were also in most debt and likely to live on welfare in the U.S.
Not saying that all people of certain socioeconomic backgrounds are or aren't likely to "flaunt" illusions of wealth.
My ex used to work as a banker, and according to him, the richer the person is, the less likely they are to flaunt their possessions. The poorer the person was, the more likely were they not only to flaunt what they don't have (i.e., wear expensive clothes, drive expensive cars) they were also in most debt and likely to live on welfare in the U.S.
Not saying that all people of certain socioeconomic backgrounds are or aren't likely to "flaunt" illusions of wealth.
I think it's more of an insecurity issue.
There are exceptions... I like to restore antique and classic cars... some of the high dollar cars are well into 6 figures and more...
But, you are right... if you saw these guys driving their tow vehicles... you would never know they own a million dollar GT40 or 600k Cobra...
Many people want to have a fancy car or a big fancy house. So if you get a fancy car or big fancy house, how do you think other people will react to that?
It depends. If your friends are all in the same income bracket, or ability, then positively. Also, it depends on how you present it, as well as THEIR interests. If you buy their dreamcar and they can't afford one...not so much. But if you buy a Rolex and they are into knives? Probably pretty positive "Oh, cool..."
How will other people treat you when they see you driving around in a fancy car?
The dealerships always treat you better. I have owned semi-expensive cars, and then "normal". In this case, a 2011 Z06 corvette, and a 2012 Nissan 370Z. The 370Z actually got more compliments. None ever got me anything more than a thumbs up or an angry scowl. I didn't think anything of it.
The answer is they hate you! (Because you have something they can't have. )
Sometimes, but most of the time...they just don't care. Why should they? I don't really care. I can appreciate a nice Viper or M5, but I don't think anything of the person, I just appreciate the mobile artwork!
So if that is the case, then why do people want to be hated by other people???
That's a bit of a leap...I own some very nice things, and I own them because lesser products won't have equal performance/utility. I couldn't care less what others think.
For a clue, here is someone's thinking about this I found on the internet... ["I got jealous when I see people driving luxurious cars like BMW, Mercedes Benz. I feel totally worthless and feel bad about myself because they have better car than me. What can I do to gain self-esteem?"]
This is a personal issue with the viewer. They equate material possessions with worth, and they also don't take into account the other person's life AS A WHOLE. My former roommate, for example, bought a BRZ for around $30K. I traded in my sports car hobby on a $22K used Jeep Grand Cherokee. He went on and on about how I should be able to afford a house + a new car + blahblahblah, as he knows my finances, etc. I told him...nah...you know I live small mostly, but the bank has certain D/I ratios, etc. Anyway, now he is wishing he had a smaller carnote, etc. (we make similar) and envies my pre-owned vehicle purchase, lol. Take THE WHOLE into account. Not JUST ONE ASPECT, before you start drooling.
Something else interesting is that you can buy a used Rolls Royce for around $10,000 - much LESS than many "average" cars on the road! Yet someone driving a $20,000 "average" looking car will "road rage" the $10,000 Rolls Royce car!
The one time I ran into legit issues was college. I had a 2001 WS.6 6-speed, and this was in 2010. The car was worth around $8K. Teachers openly hated on me for driving and maintaining "an expensive car, but not being able to shell out half a grand on text books". yes, the tires were expensive, but they said NOTHING to the girl with the new Honda Civic which cost $20K and she paid $350/mo for.
So yes, the dead-on part of this is in the last paragraph. Although...maintaining that Rolls...
It's easy to criticize people as "snobby" when they have upscale stuff, but doesn't everyone get a kind of tingly feeling when they have the best of things?
There is nothing like looking out your living room window at a view of a city skyline or the ocean, it energizes you in a way that nothing else can.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
(Because you have something they can't have. 
)
