If you drive a luxury vehicle, what is your HHI and net worth?

[Anonymous]

$20 million. Had an XC90 Volvo but got rid of it last year. Now no car. Bicycle everywhere. Walk or Uber to dinner on rare occasion we go out to eat. Groceries are delivered.

[Anonymous]

Range Rover Sport in cash. HHI 300k. NW 10 mil.

[Anonymous]

We lease multiple foreign luxury cars. HHi 5m+
Depreciating asset that we do not want to own after year four or five when everything needs to be fixed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think it’s interesting how everyone in this thread is high earning and buys instead of leases. We buy our cars and drive for many years. I have friends who lease and change cars every 3 years. Seems like a waste of money to me.

High-earning individuals don't always make financially savvy decisions.

I wouldn't move my money from a well-performing investment to purchase a depreciating asset.

I don't get the infatuation with calling a car a depreciating asset. Do you think this is news to people? Saying it makes you feel smart? Do you also call your TV, washing machine, and smartphone "depreciating assets?"

[Anonymous]

Anonymous wrote:I make $400K+. Wife is SAHM. Wife drives X5 BMW and I drive a BMW sedan. We keep our vehicles for at least 10years Net Worth of close to $4M. Certified pre owned Kids almost out of college

Thanks for the laugh.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Bought Porsche Cayenne. Certified used. HHI $250. Net worth 1.2M.

That seems like a crazy way to waste money at your HHI/NW.

+1

Just showing off (not smartly) at your HHI

Believe it or not (I know you won’t), my husband couldn’t care less what anyone thinks of him or his car. It just makes him really happy to drive it. [/quote]

IDK, sounds like he is really immature. Maybe you guys are still in 20s.

We are not car people - we have 2 year old civic and a 9 year old CRV. I'd never spend that kind of money on a car. But, if it makes someone happy to do so, and they can afford it, then what's the problem?

My wife and I value food, and good liquor. I have zero problem spending $500+ on dinner for 2, or $500 on a bottle of hard-to-find liquor. Why? It makes us happy. We spent a lot on a smaller house to minimize commutes, because that's what we value. Others want a larger place, more updated, with more land, and have a longer commute. There's nothing wrong with either choice.

You think that the PP's husband is immature because he likes nice cars, and you don't understand that. If someone doesn't like the same things as you do, they're immature? I think the immaturity label in this scenario applies to you, who can't understand realize that not everyone needs to agree with you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dang, I should UP my game. I am still driving 2004 honda odyssey with 200k miles and it still runs well. 350k/slightly over 6 nw

Keep driving that old beater car. You deserve it.

better than overspending money you don't have

At DCUM salaries, no one is overspending what they don’t have. They’re just not shoveling more into retirement and investments like others choose to do. But don’t fool yourself into thinking they can’t afford it.

[Anonymous]

Anonymous wrote:I make $400K+. Wife is SAHM. Wife drives X5 BMW and I drive a BMW sedan. We keep our vehicles for at least 10years Net Worth of close to $4M. Certified pre owned Kids almost out of college

Man, I would have loves a certified pre-owned kid. Where did you find one? We had not choice but to buy new.

[Anonymous]

HHI over $1m. Net worth over $10m. We each drive old Yugos. Neighbors are jealous!

[Anonymous]

450k. Range Rover for both spouse and myself. Net worth about 9 million in liquid assets.

[Anonymous]

Anonymous wrote:$20 million. Had an XC90 Volvo but got rid of it last year. Now no car. Bicycle everywhere. Walk or Uber to dinner on rare occasion we go out to eat. Groceries are delivered.

How much is that bike, though.

[Anonymous]

HHI: $340K + bonus

We lease. Right now DH has a BMW X3 and I have a Lincoln Corsair. Both fully loaded.

We like having cars with the latest features and aren’t interested in paying to maintain a depreciating asset. We keep the monthly payments well within our budget.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think it’s interesting how everyone in this thread is high earning and buys instead of leases. We buy our cars and drive for many years. I have friends who lease and change cars every 3 years. Seems like a waste of money to me.

High-earning individuals don't always make financially savvy decisions.

I wouldn't move my money from a well-performing investment to purchase a depreciating asset.

I don't get the infatuation with calling a car a depreciating asset. Do you think this is news to people? Saying it makes you feel smart? Do you also call your TV, washing machine, and smartphone "depreciating assets?"

That’s why I don’t buy vegetables. They are depreciating assets. In fact if not consumed they go bad so quickly it’s juice hardly worth the squeeze. Instead I hodl Bitcoin and ethereum.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Dang, I should UP my game. I am still driving 2004 honda odyssey with 200k miles and it still runs well. 350k/slightly over 6 nw

Keep driving that old beater car. You deserve it.

Some people like spending hours a week in a crappy box on wheels that gives them no enjoyment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Dang, I should UP my game. I am still driving 2004 honda odyssey with 200k miles and it still runs well. 350k/slightly over 6 nw

Keep driving that old beater car. You deserve it.

Some people like spending hours a week in a crappy box on wheels that gives them no enjoyment.

I choose to bike or walk instead of being locked in the box. I spend my money to live near work in an urban center that allows this.

The exercise and fresh air is great, and no need to buy expensive cars.