Where does this notion come from that wealthy people don't drive nice cars?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I don’t care about cars. It doesn’t matter how much money I make. I’m still not going to care about my car. I could walk in and buy a car with cash, if I wanted. I just don’t care to and it’s a hassle. There are plenty of non-car wealthy people out there.

I think this is the answer. HNW typically spend money on *something* whether it’s a $250k kitchen, travel, cars, golf, handbags, etc. Just not always the same. But the idea that “most wealthy people drive beaters” is just flat out wrong.

This is me. I have a newish car, nothing flashy, and a gorgeous gorgeous house, nice jewelry, and beautiful antiques and art. I'd rather spend 80k on an unheated Burma ruby or a 17th century Safavid silk rug. My everyday watch is more expensive than a luxury car. I'm white, middle aged, and raised in Europe BTW.

[Anonymous]

First, many people are responding with nice UMC salaries and net worth…but you likely don’t buy luxury cars because you personally don’t feel that wealthy even though someone living in the middle of Kansas would think you are super rich.

2nd…regardless of all the responses on DCUM…I would bet if you did an empirical study of the cars of everyone with a NW of $20MM+, probably 90% would own at least one car that probably cost $75k+.

Few own Ferraris or Bentleys or true super luxury cars…but there are tons of Rivians and Tahoes and Range Rovers et al that fit the cost definition.

[Anonymous]

I think we need to distinguish between a true “beater” and just a non-luxury car. Not many truly wealthy people drive an actual “beater” but very common for them to have non-luxury brands but still nice and reliable vehicles. I still want a heated seat and steering wheel, reliability and safety. But I’m not paying a premium for the car to be German/British/Swedish.

[Anonymous]

Anonymous wrote:I think we need to distinguish between a true “beater” and just a non-luxury car. Not many truly wealthy people drive an actual “beater” but very common for them to have non-luxury brands but still nice and reliable vehicles. I still want a heated seat and steering wheel, reliability and safety. But I’m not paying a premium for the car to be German/British/Swedish.

This-- plenty drive reliable newer non-luxury vehicles. If you're very wealthy but don't care for cars, you'll still want something newer with less potential issues, even if you don't want a fancy "brand." So you'll drive the basic Japanese and American brand cars, but probably replace them every 7 years or so.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t care about cars. It doesn’t matter how much money I make. I’m still not going to care about my car. I could walk in and buy a car with cash, if I wanted. I just don’t care to and it’s a hassle. There are plenty of non-car wealthy people out there.

I think this is the answer. HNW typically spend money on *something* whether it’s a $250k kitchen, travel, cars, golf, handbags, etc. Just not always the same. But the idea that “most wealthy people drive beaters” is just flat out wrong.

This is me. I have a newish car, nothing flashy, and a gorgeous gorgeous house, nice jewelry, and beautiful antiques and art. I'd rather spend 80k on an unheated Burma ruby or a 17th century Safavid silk rug. My everyday watch is more expensive than a luxury car. I'm white, middle aged, and raised in Europe BTW.

Europe is a big place. It’s not a signifier of high class like some on this board think it is.

[Anonymous]

I am wealthy and I drive a Honda CRV. I don't see the point of luxury cars. I did test drive a Ferrari for fun and that's about it.

[Anonymous]

Not everyone is interested in cars, for many people cars are a way to get from point a to point b.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t care about cars. It doesn’t matter how much money I make. I’m still not going to care about my car. I could walk in and buy a car with cash, if I wanted. I just don’t care to and it’s a hassle. There are plenty of non-car wealthy people out there.

I think this is the answer. HNW typically spend money on *something* whether it’s a $250k kitchen, travel, cars, golf, handbags, etc. Just not always the same. But the idea that “most wealthy people drive beaters” is just flat out wrong.

This is me. I have a newish car, nothing flashy, and a gorgeous gorgeous house, nice jewelry, and beautiful antiques and art. I'd rather spend 80k on an unheated Burma ruby or a 17th century Safavid silk rug. My everyday watch is more expensive than a luxury car. I'm white, middle aged, and raised in Europe BTW.

Europe is a big place. It’s not a signifier of high class like some on this board think it is.

Wow, I had no clue!

[Anonymous]

Anonymous wrote:I am wealthy and I drive a Honda CRV. I don't see the point of luxury cars. I did test drive a Ferrari for fun and that's about it.

The funny thing is I was talking to my wealthy friend about his Jaguar and he's had a ton of issues with it.

[Anonymous]

It’s an old money, New England, Yankee thing, to this day.

Partly it’s the old money attitude that it’s gauche to show off wealth - but it’s also just practicality. You need 4 wheel or AWD. No use getting a sporty little car, you’ll never get out of your driveway in the winter.

[Anonymous]

Anonymous wrote:It’s an old money, New England, Yankee thing, to this day.

Partly it’s the old money attitude that it’s gauche to show off wealth - but it’s also just practicality. You need 4 wheel or AWD. No use getting a sporty little car, you’ll never get out of your driveway in the winter.

Flaunting wealth is considered vulgar in the South too. Ever see Driving Miss Daisy? My southern grandmothers were not Jewish but otherwise very much like this. You do not flaunt your wealth, ever. It’s not proper.

[Anonymous]

I only see old people in old cars. They know they will die soon and don't see the point in getting a new one. Same for upgrading or updating their house. They just do nothing the couple decades and their house becomes a time capsule.

[Anonymous]

Anonymous wrote:It’s an old money, New England, Yankee thing, to this day.

Partly it’s the old money attitude that it’s gauche to show off wealth - but it’s also just practicality. You need 4 wheel or AWD. No use getting a sporty little car, you’ll never get out of your driveway in the winter.

LOL, yeah, all those old money Newporters driving Civics. This thread gets better and better.

No one with money thinks driving an E-Class is “gauche”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don’t care about cars. It doesn’t matter how much money I make. I’m still not going to care about my car. I could walk in and buy a car with cash, if I wanted. I just don’t care to and it’s a hassle. There are plenty of non-car wealthy people out there.

I think this is the answer. HNW typically spend money on *something* whether it’s a $250k kitchen, travel, cars, golf, handbags, etc. Just not always the same. But the idea that “most wealthy people drive beaters” is just flat out wrong.

This is me. I have a newish car, nothing flashy, and a gorgeous gorgeous house, nice jewelry, and beautiful antiques and art. I'd rather spend 80k on an unheated Burma ruby or a 17th century Safavid silk rug. My everyday watch is more expensive than a luxury car. I'm white, middle aged, and raised in Europe BTW.

This is not the flex guy think it is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s an old money, New England, Yankee thing, to this day.

Partly it’s the old money attitude that it’s gauche to show off wealth - but it’s also just practicality. You need 4 wheel or AWD. No use getting a sporty little car, you’ll never get out of your driveway in the winter.

LOL, yeah, all those old money Newporters driving Civics. This thread gets better and better.

No one with money thinks driving an E-Class is “gauche”.

It’s not. But a G wagon is. It’s akin to fake nails and tattoos. It just isn’t done.

For those who understand, no explanation is necessary. For those who don’t, none will suffice. Or, IYKYK.