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

[Anonymous]

Anonymous wrote:

Anonymous wrote:I live in a rich enclave in the south (~$3M average home value) and expensive cars are the norm. Cars in the range of $200k+ for the adults and $100k+ for the kids aren’t the average but they are common. No one is driving around in a beater Honda. My husband is in finance and all the guys he works with (old and new money alike) constantly talk about cars and buy new cars.

Oh yeah, well, the South has a big car culture. You have to drive a lot.

Plus the South is gaudy, tacky and showy and that includes the wealthy. We were just down South and I couldn’t believe how many men and women had on cowboy hats in a nice restaurant. Are they not taught etiquette down there?

[Anonymous]

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Anonymous wrote:Did you even read the millionaire next door? Most drive honda's. The poorest people I know drive "nicer" cars, the multimillionaires myself included drive honda's, toyota's, nissan's. Poorer people tend to fake the funk and think that they're fooling people.

Oy vey. Nothing screams midwit prole Dave Ramsay listener like citing a conman’s book.

Midwit prole. Loving the parochial snobbishness. Dcurbanmom, where the moms and dads cosplay David Brooks in his desperate Bobos in Paradise years. FYI, statistically speaking most of the millionaires in this country over 50 drive F150s, new money tech millionaires drive hondas, new money tech billionaires have someone else drive them.

People who know anything about cars know that an F150 with all the trappings will run you $75k-$100k. The folks where these trucks are prevalent know this.

This is why the thread is strange. New money tech millionaires also aren’t driving Hondas…they are driving Rivians (Tesla has definitely fallen out of favor) or similar $75k+ electric cars…or if living and working in SF proper may not own a car at all.

I honestly don’t know anyone who thinks BMW or Audi or Mercedes is an overall luxury brand since they sell many models cheaper than the cars above…though they do have certain models well over $100k.

And there are people driving those loaded F150s who don’t even make that much in a year. It tells you nothing.

Correct, but my point is that my kid at an academic southern private college has a bunch of wealthy friends who drive souped-up pickups (F150s et al). It’s what the kids wanted and they still probably cost nearly $100k…but their parents would have bought them any car /truck they wanted at the same price.

Nobody was making any statement with the purchase.

Not true. For Southern students that’s a truck to envy.

[Anonymous]

This whole thread is crazy... you can have money and choose to drive an old beater, good for you - all it shows is that you don't care about being more comfortable. I don't really get someone driving an old subaru when they can drive a brand new benz, porche, whatever - these cars are just more comfortable to drive, it has nothing to do with status (unless you make it about status). Drive what you like, enjoy life and enjoy your money while you still can

[Anonymous]

Anonymous wrote:This whole thread is crazy... you can have money and choose to drive an old beater, good for you - all it shows is that you don't care about being more comfortable. I don't really get someone driving an old subaru when they can drive a brand new benz, porche, whatever - these cars are just more comfortable to drive, it has nothing to do with status (unless you make it about status). Drive what you like, enjoy life and enjoy your money while you still can

You can a comfortable old car that you love and don’t want to give it up. I don’t know beater is.

[Anonymous]

Anonymous wrote:People might want to go to the library and read this book:
The Millionaire Next Door.

Most of these people got there by diligently saving on modest incomes and then the market gains lifted them to this status.

Those people don’t spend money on anything…it’s not limited to cars. It’s fine, but it’s also because their status feels vulnerable to the whims of the market.

I can fully understand not wanting to buy a $100k car when your W2 income may only be $100k-$200k but since you lived like a pauper your whole life and invested, your net worth is millions.

[Anonymous]

Anonymous wrote:This whole thread is crazy... you can have money and choose to drive an old beater, good for you - all it shows is that you don't care about being more comfortable. I don't really get someone driving an old subaru when they can drive a brand new benz, porche, whatever - these cars are just more comfortable to drive, it has nothing to do with status (unless you make it about status). Drive what you like, enjoy life and enjoy your money while you still can

I've driven a new benz and a new toyota and they seem the same to me? Like, maybe the materials are nicer? Maybe if I drove really a lot more? Idk.

[Anonymous]

I drive a toyota but yesterday I spent $60 having donuts delivered to my house, ama.

[Anonymous]

Anonymous wrote:People might want to go to the library and read this book:
The Millionaire Next Door.

The typical millionaire next door described in that book is 58yo. They are at the door of retirement with a very short active life left. Everyone will be millionaire in retirement. That’s not impressive.
You want to be millionaire and enjoy a millionaire life when you are young.

[Anonymous]

Here is an excerpt from a WSJ interview with a hedge fund guy. No mention of cars...but something tells me he isn't driving a late-model Honda or Toyota.

Perkins’s home is dotted with pieces from his roughly $20 million art collection, toys like a 50-piece kit to outfit laser-tag players and dancing robots that bust moves at bashes. His wakesurfing boat is docked on the water. Four giant tortoises—George, Shelly, Fortuitous and Pequeña—roam the property.

[Anonymous]

Anonymous wrote:Here is an excerpt from a WSJ interview with a hedge fund guy. No mention of cars...but something tells me he isn't driving a late-model Honda or Toyota.

Perkins’s home is dotted with pieces from his roughly $20 million art collection, toys like a 50-piece kit to outfit laser-tag players and dancing robots that bust moves at bashes. His wakesurfing boat is docked on the water. Four giant tortoises—George, Shelly, Fortuitous and Pequeña—roam the property.

So only uber wealth qualify to you?

Are you the kind who think Big law partners are just middle class?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Here is an excerpt from a WSJ interview with a hedge fund guy. No mention of cars...but something tells me he isn't driving a late-model Honda or Toyota.

Perkins’s home is dotted with pieces from his roughly $20 million art collection, toys like a 50-piece kit to outfit laser-tag players and dancing robots that bust moves at bashes. His wakesurfing boat is docked on the water. Four giant tortoises—George, Shelly, Fortuitous and Pequeña—roam the property.

So only uber wealth qualify to you?

Are you the kind who think Big law partners are just middle class?

Do you spam this website with "big law" cliches every day for years on end? You are low information. Every firm partner gets a free leased luxury car or a vehicle reimbursement as part of their compensation package. Law firm garages are full of new Lexus, Audi, BMW, and Mercedes sedans and SUVs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:People might want to go to the library and read this book:
The Millionaire Next Door.

The typical millionaire next door described in that book is 58yo. They are at the door of retirement with a very short active life left. Everyone will be millionaire in retirement. That’s not impressive.
You want to be millionaire and enjoy a millionaire life when you are young.

So, a 58 year old doesn't have an active life left? Tell that to my 80 year old who still hikes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here is an excerpt from a WSJ interview with a hedge fund guy. No mention of cars...but something tells me he isn't driving a late-model Honda or Toyota.

Perkins’s home is dotted with pieces from his roughly $20 million art collection, toys like a 50-piece kit to outfit laser-tag players and dancing robots that bust moves at bashes. His wakesurfing boat is docked on the water. Four giant tortoises—George, Shelly, Fortuitous and Pequeña—roam the property.

So only uber wealth qualify to you?

Are you the kind who think Big law partners are just middle class?

Do you spam this website with "big law" cliches every day for years on end? You are low information. Every firm partner gets a free leased luxury car or a vehicle reimbursement as part of their compensation package. Law firm garages are full of new Lexus, Audi, BMW, and Mercedes sedans and SUVs.

Lol. You know nothing Jon Snow.

[Anonymous]

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

Even multi-millionaires who don’t care about cars still drive nice new ones. A boring but nice crossover like a 2026 Lexus RX or Mercedes GLE - or maybe an E-Class wagon. Nobody rich is driving some decade old Honda or Chevy Malibu. Rich teenagers don’t even drive decade old economy cars.

We were worth $40M+ and I was driving a 6yo Honda for another 2 years.

My kids drives a 2015 Subaru and a 2018 Kia. They have trust funds from their grandparents and we are worth north of 10M

No matter what we say, the flashy money people will never understand. We have nothing to prove. They are also making it out like it’s a 15 year old civic, a new Mercedes or nothing. I drive a newer Honda Odyssey with all the available features. It’s quite comfortable and does everything I need it to while flying under the radar. It replaced another older minivan.

Just different personality types. Neither is bad or good, worse or better.
Maybe in the Meyer's Briggs world, the S types will like flashier material goods and the N types don't even notice the material goods.

Bottom line is that the car someone drives is not directly proportional to their income or their wealth, but simply more of an indication of their personality type.

And if you're into flashy cars, do know there is a significant portion of the population who won't even notice let alone care.

I've lived in Miami and also know a lot of those super cars are rented or people are in debt up to their eyeballs on them.

At a previous house, neighbors had 3 new very fancy vehicles they drove. Then there was a divorce. Tow trucks came at night for all the vehicles. Turns out they were all leased and when the payments stopped they were repossessed.

A fancy car speaks volumes about the person's spend rate, but says almost nothing about actual wealth.

Unfortunately, many people do this. I had to collect the money for our class activities from parents in our wealthy private elementary and it was always the ones with late model luxury cars and expensive homes that were delinquent in paying.

It's not because they don't have the money it's because they are "so busy".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

Even multi-millionaires who don’t care about cars still drive nice new ones. A boring but nice crossover like a 2026 Lexus RX or Mercedes GLE - or maybe an E-Class wagon. Nobody rich is driving some decade old Honda or Chevy Malibu. Rich teenagers don’t even drive decade old economy cars.

We were worth $40M+ and I was driving a 6yo Honda for another 2 years.

My kids drives a 2015 Subaru and a 2018 Kia. They have trust funds from their grandparents and we are worth north of 10M

No matter what we say, the flashy money people will never understand. We have nothing to prove. They are also making it out like it’s a 15 year old civic, a new Mercedes or nothing. I drive a newer Honda Odyssey with all the available features. It’s quite comfortable and does everything I need it to while flying under the radar. It replaced another older minivan.

Just different personality types. Neither is bad or good, worse or better.
Maybe in the Meyer's Briggs world, the S types will like flashier material goods and the N types don't even notice the material goods.

Bottom line is that the car someone drives is not directly proportional to their income or their wealth, but simply more of an indication of their personality type.

And if you're into flashy cars, do know there is a significant portion of the population who won't even notice let alone care.

I've lived in Miami and also know a lot of those super cars are rented or people are in debt up to their eyeballs on them.

At a previous house, neighbors had 3 new very fancy vehicles they drove. Then there was a divorce. Tow trucks came at night for all the vehicles. Turns out they were all leased and when the payments stopped they were repossessed.

A fancy car speaks volumes about the person's spend rate, but says almost nothing about actual wealth.

Unfortunately, many people do this. I had to collect the money for our class activities from parents in our wealthy private elementary and it was always the ones with late model luxury cars and expensive homes that were delinquent in paying.

It's not because they don't have the money it's because they are "so busy".

When we listed the names on a final email, they got “unbusy,”