How do so many young families have $80k SUVs?

[Anonymous]

Anonymous wrote:I think a lot of the moms are prostitutes.

In a way, they are

[Anonymous]

Anonymous wrote:The average household income in NW DC is over $200,000. That's the average.

How much would you need to earn to spend 80k on a car?

[Anonymous]

We had one. Decided that spending $70-80k in cash after the first time wasn’t worth it. We do pay cash for our cars though and drive them for 10-15 years. Bought a $55k minivan the next time.

[Anonymous]

Anonymous wrote:I acutally think that those huge boats are often leased, not purchased. Our realtor told us she gets a tax incentive to lease a vehicle but it has to be a giant SUV; if it's fewer than X tons it doesn't qualify.

Yes my in-laws do this and claim it as a business expense

[Anonymous]

Anonymous wrote:I am a teacher off for the summer. Everywhere I look there seems to be a SAHM running errands with 3+ little kids getting into a brand new looking Suburban, Tahoe, Expedition, etc. These moms look 35 or less. I see this in the dismissal car line at our public school too. How do they afford this?

May be she is a trust fund baby or has a side gig or worked as six figure consultant from 22-30 before going SAHM to have and raise babies.

[Anonymous]

The 1% income for DC is low 7-figures. That means 1 out of every 100 families is pulling down more than $1M/year. Top 5% is north of $400k. So 1 out of every 20 families is making that much.

There are nearly 10M residents in the area and however many households. That 1% or 5% of a very big number means there are a lot of people who can easily pay for an expensive car.

But, also, debt.

[Anonymous]

Anonymous wrote:You can get any of those cars a couple years used for like $40k.

not true at all.

[Anonymous]

Business write off.

[Anonymous]

So many high earners also have trust funds or help from parents. This area is filled with people in this situation.

[Anonymous]

We’re not poor.

[Anonymous]

They’re not teachers. If they are, they are married to high earners.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The average household income in NW DC is over $200,000. That's the average.

How much would you need to earn to spend 80k on a car?

$800K

[Anonymous]

Anonymous wrote:

Anonymous wrote:You can get any of those cars a couple years used for like $40k.

not true at all.

DP, but he is essentially correct.

https://caredge.com/chevrolet/tahoe/depreciation

[Anonymous]

Financed or Family money.

There are many people with considerable wealth here.

[Anonymous]

https://caredge.com/ford/expedition/depreciation