Anyone driving the luxury cars? And what's your income?
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Anonymous
We had a swish BMW when we made less money.  HHI $275ish. Now have new Acura and old Saab. Bringing down the neighborhood!
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Anonymous
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Driving across the Roosevelt bridge and counting the Audi, BMWs and Mercedes SUVs will assure you that plenty of 6 figure HHI family households around here drive luxury. Some of the highest volume dealers of the big three Germany luxury brands in the country are in this metro area.
I drive a 55k suv from the big three and we also have a toyota second card. 290K HHI. |
Anonymous
| Bought an 20 year old Mercedes E Class - very high end - only 76,000 miles. I feel wealthy! |
Anonymous
| we have luxury cars. Didin't set out too. We were looking at suvs (like a crv/rav4 etc). We need 4 wheel drive for work. By the time you added the 4 wheel drive option (often only available with other upgrades)...we were basically at the price of a 'luxury car.' (I recall it was maybe 3% more). So we got the luxury car that came with 4 wheel drive standard, and had nicer other amenities to boot. |
Anonymous
+1. I used to drive a used lotus when my hhi was lower (190k). Now I drive a Honda ($280k ish). 
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Anonymous
Exactly. Judging by the number of new GL 450s I see driving around, I think that many people do. |
Anonymous
| We have a 2012 BMW convertible =- about 60k. HHI is 400k in NW. Our only car though. |
Anonymous
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2002 Lexus IS300 - driving that sucker until it dies!
Our HHI has ranged between $300k and $500k the last few years. |
Anonymous
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I just started leasing. I get to drive a brand new luxury car every 2-3 yrs. DH buys a luxury car every 5 yrs. HHI $500k-$1 million.
Even when DH earned 100k, he still drove a BMW. My first car was an Audi A4 when I was earning 75k and single. |
Anonymous
| HHI ~ 200K, we have a $45K Audi. |
Anonymous
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HHI around $350K, we have one $50K MB and one non-luxury SUV. MB was purchased pre-kids when we had a lot more disposable income. We'll drive them both until they're 10+ years and will probably replace the Mercedes with a Volvo or Acura or something less expensive.
And I know plenty of people with incomes well below $1M driving luxury cars- they're just not posting on DCUM. |
Anonymous
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To each his own... It's all about priorities. You can argue until you're blue in the face that cars are depreciating assets, generic brands are just as functional as the luxury/premium brands, blah, blah, blah. If you want to buy a nice car with your hard-earned money, then so be it. It's no one else's damn business. That person will just need to cut back in other areas. Of course it makes more sense to spend less, save more, but it's about finding the balance that works for you.
Since folks on this website like talking about the wealthy... David Einhorn, a 44-year old hedge fund billionaire, apparently drives a Honda Odyssey. But, on the other hand, a college friend's dad was a big car enthusiast and had 35 cars, including 6 Ferraris. He was worth much less than Einhorn, only worth $700 million at the time. Should my friend's dad have spent less on depreciating assets and more into appreciating assets? Absolutely, but it's his money and liked cars. If I were Einhorn, I'd probably drive a nicer car, but he just doesn't care about cars. To each his own... |
Anonymous
| Income divide by half for car amount |
Anonymous
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We make about $150k. I drive a 2006 BMW. But I bought it used for $20k, and now that we have kids, my next car will probably be a minivan.
Dh had a 2003 BMW until last spring, we paid about $20k for a new VW to replace it. |