Keeping up with the Jones, is this why they buy new cars so frequently?

[Anonymous]

You can't even spell their last name correctly, doubt you're keeping up with them.

[Anonymous]

Weirdly, I only know one couple who does this. The husband is really into all things luxury and cars are just part of that. I honestly don’t think he is trying to keep up with the Joneses, since I think keeping up with others just screams insecurity. He’s not insecure. He just likes nice things.

I thought that him leasing nice cars every 18 months was a terrible financial decision but now he’s worth millions from his start-up in his early thirties so it didn’t hurt him too much!

[Anonymous]

It’s all the same neighbors who scammed PPP loans for their fake LLC. There are tax loopholes to buy expensive new SUVs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We purchased two dream new vehicles over the summer. Loved them and dreamed about having something this nice after years of frugal modest cars. But honestly, six months later we're sort of bored with them. Is this bored feeling what fuels the upper middle class to always trade in for the latest and greatest (SUVs especially)? I don't necessarily think we're clamoring for something more expensive, just something different.

Middle class yes. And I suppose lower mid-UMC. Real UMC either do not get rid of cars for 10 years or they buy new ones and frankly could care less what it costs and there is no real impact on their wealth. Yes they could save the movey but they make so much it is not really missed. For example -- trade int he the two year old Mercedes for a new whatever --- maybe they use 30-50k in cash plus trade in. They are not missing 30-50k. Not a big expense.

Why do people on this board think that the rich/UMC aren’t spending their money on luxury goods and branded items??? It’s simply not true. Maybe in WASP culture but there are PLENTY of rich/UMC people who don’t ascribe to that level of thriftiness.

Yes agreed. The Kardashians/RHWONJ types do this.

[Anonymous]

I got bored of my car in weeks. Needed something practical for the kids to be hauled around in.
12 years later we are finally going to get rid of it. It’s called balancing wants versus needs.

[Anonymous]

The wealthy people I know who lease cars do it for convenience, mostly. They don’t want to spend time/energy on car maintenance or have to deal with selling/trading in.

[Anonymous]

It’s impossible for us to know why you’re bored. You bought the wrong dream cars? You’re just not a car person? Could be anything.

[Anonymous]

Anonymous wrote:The wealthy people I know who lease cars do it for convenience, mostly. They don’t want to spend time/energy on car maintenance or have to deal with selling/trading in.

A lot of them are also small business owners.

[Anonymous]

It's like a drug. Once you get a taste of driving something nice it's torture to go back to driving something boring and uncomfortable.

[Anonymous]

I’m driving a 23 year old RAV4 that I have owned for 17 years. Sure if I was to win the lottery or realize a very significant salary increase I’d consider a newer vehicle, something like a Prius so I could enjoy better gas mileage and lesser environmental impact from driving. I suppose it would be fun to have a luxury vehicle if money was no issue, but as long as I’m a regular person with money being a consideration then I’d rather keep my reliable vehicle until I have squeezed every ounce of usability from it. It’s comfortable enough and we have 170,000 miles of adventures between us so I’ll miss her when she goes, I tend to get attached to vehicles in that way. Also it’s nice not having any expenses beyond fuel, maintenance and very low insurance rates, and I’m pretty invested at this point in seeing how long she’ll last me.

[Anonymous]

Anonymous wrote:I’m driving a 23 year old RAV4 that I have owned for 17 years. Sure if I was to win the lottery or realize a very significant salary increase I’d consider a newer vehicle, something like a Prius so I could enjoy better gas mileage and lesser environmental impact from driving. I suppose it would be fun to have a luxury vehicle if money was no issue, but as long as I’m a regular person with money being a consideration then I’d rather keep my reliable vehicle until I have squeezed every ounce of usability from it. It’s comfortable enough and we have 170,000 miles of adventures between us so I’ll miss her when she goes, I tend to get attached to vehicles in that way. Also it’s nice not having any expenses beyond fuel, maintenance and very low insurance rates, and I’m pretty invested at this point in seeing how long she’ll last me.

If I gave you a loaded Lexus RX to drive for say 3 or 4 months, you would not want to go back to that old RAV4. It’s not about luxury it’s just you realize life is short and driving a crummy old car sucks. Unless you’re WFH with no kids (or empty nester) and never drive anywhere.

[Anonymous]

DH leases for this reason.

I’m not a car person so I really don’t care what I’m driving as long as it’s reliable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The wealthy people I know who lease cars do it for convenience, mostly. They don’t want to spend time/energy on car maintenance or have to deal with selling/trading in.

A lot of them are also small business owners.

Or they’re company leases. DH’s company used to lease company cars

[Anonymous]

Anonymous wrote:

Anonymous wrote:We purchased two dream new vehicles over the summer. Loved them and dreamed about having something this nice after years of frugal modest cars. But honestly, six months later we're sort of bored with them. Is this bored feeling what fuels the upper middle class to always trade in for the latest and greatest (SUVs especially)? I don't necessarily think we're clamoring for something more expensive, just something different.

I don't think you know what "keeping up with the Jones'" means, OP.

+1

Getting bored of your “dream luxury car” is certainly a rich people problem. But it’s not keeping up with the Joneses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m driving a 23 year old RAV4 that I have owned for 17 years. Sure if I was to win the lottery or realize a very significant salary increase I’d consider a newer vehicle, something like a Prius so I could enjoy better gas mileage and lesser environmental impact from driving. I suppose it would be fun to have a luxury vehicle if money was no issue, but as long as I’m a regular person with money being a consideration then I’d rather keep my reliable vehicle until I have squeezed every ounce of usability from it. It’s comfortable enough and we have 170,000 miles of adventures between us so I’ll miss her when she goes, I tend to get attached to vehicles in that way. Also it’s nice not having any expenses beyond fuel, maintenance and very low insurance rates, and I’m pretty invested at this point in seeing how long she’ll last me.

If I gave you a loaded Lexus RX to drive for say 3 or 4 months, you would not want to go back to that old RAV4. It’s not about luxury it’s just you realize life is short and driving a crummy old car sucks. Unless you’re WFH with no kids (or empty nester) and never drive anywhere.

Both of these cars are boring AF.

If OP got a Lexus it’s very clear why she’s bored.