"luxury" cars - why?

[Anonymous]

Anonymous wrote:
I had a family member that was in a bad car accident and he drove a luxury car--all the EMTs said the car saved his life. That is part of why I spend a little more on luxury brand b/c of their safety features.

Funny-- I know a guy who says the same thing about his Toyota Yaris. He was in a bad accident, walked away just fine, so he replaced it with another.

[Anonymous]

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

This. Our HHI is over $1m but I'm happy with my 10 year old Toyota SUV with over 100k miles. Still looks nearly new and is very reliable. I'd love a new Porsche Panamera or Mercedes SUV but can't mentally stomach the cost. Once it's finally time to get my next car, I'd consider doing what PP suggests -- buying a lightly used "luxury" vehicle. Unless there's something really special about a particular new car, such as really great safety features that last year's used models don't have, I don't want to have the 20+ percent 1st year depreciation that comes with new cars. Fortunately, my spouse and I are on the same page about this sort of thing!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

This. Our HHI is over $1m but I'm happy with my 10 year old Toyota SUV with over 100k miles. Still looks nearly new and is very reliable. I'd love a new Porsche Panamera or Mercedes SUV but can't mentally stomach the cost. Once it's finally time to get my next car, I'd consider doing what PP suggests -- buying a lightly used "luxury" vehicle. Unless there's something really special about a particular new car, such as really great safety features that last year's used models don't have, I don't want to have the 20+ percent 1st year depreciation that comes with new cars. Fortunately, my spouse and I are on the same page about this sort of thing!

These people with their old Toyota’s and Honda’s just crack me up. How come I never meet you IRL! Ha ha. On my street in NWDC and my parking garage at work the majority of cars are BMW (X5), Mercedes (M and GL), Volvo SUV, smattering of Mazda crossovers.

Nobody had ten year old Honda’s. Just saying. I guess you’re just so much more prudent then the rest of the UMC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

This. Our HHI is over $1m but I'm happy with my 10 year old Toyota SUV with over 100k miles. Still looks nearly new and is very reliable. I'd love a new Porsche Panamera or Mercedes SUV but can't mentally stomach the cost. Once it's finally time to get my next car, I'd consider doing what PP suggests -- buying a lightly used "luxury" vehicle. Unless there's something really special about a particular new car, such as really great safety features that last year's used models don't have, I don't want to have the 20+ percent 1st year depreciation that comes with new cars. Fortunately, my spouse and I are on the same page about this sort of thing!

These people with their old Toyota’s and Honda’s just crack me up. How come I never meet you IRL! Ha ha. On my street in NWDC and my parking garage at work the majority of cars are BMW (X5), Mercedes (M and GL), Volvo SUV, smattering of Mazda crossovers.

Nobody had ten year old Honda’s. Just saying. I guess you’re just so much more prudent then the rest of the UMC.

First, someone with a HHI of over $1m isn't UMC. Second, the PP takes it to ridiculous levels. If you want something you can clearly afford, and deny it to yourself not because you are making a trade-off, or because of other priorities, bust just because you "can't stomach the cost," you're kind of an idiot.

[Anonymous]

It's financially stupid to buy a car you can't afford. But, if you have cash to spare, turning a utilitarian tool into a source of fun is great. Just because something suffices doesn't mean it's the same. If you like to read, you can read Grisham thrillers and Harlequin romances or Murakami and Knausgaard. They're not literary equals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

This. Our HHI is over $1m but I'm happy with my 10 year old Toyota SUV with over 100k miles. Still looks nearly new and is very reliable. I'd love a new Porsche Panamera or Mercedes SUV but can't mentally stomach the cost. Once it's finally time to get my next car, I'd consider doing what PP suggests -- buying a lightly used "luxury" vehicle. Unless there's something really special about a particular new car, such as really great safety features that last year's used models don't have, I don't want to have the 20+ percent 1st year depreciation that comes with new cars. Fortunately, my spouse and I are on the same page about this sort of thing!

These people with their old Toyota’s and Honda’s just crack me up. How come I never meet you IRL! Ha ha. On my street in NWDC and my parking garage at work the majority of cars are BMW (X5), Mercedes (M and GL), Volvo SUV, smattering of Mazda crossovers.

Nobody had ten year old Honda’s. Just saying. I guess you’re just so much more prudent then the rest of the UMC.

First, someone with a HHI of over $1m isn't UMC. Second, the PP takes it to ridiculous levels. If you want something you can clearly afford, and deny it to yourself not because you are making a trade-off, or because of other priorities, bust just because you "can't stomach the cost," you're kind of an idiot.

Agree with you on all counts. But it’s DC. And $1M doesn’t go as far as it did. Especially if it’s considered income and with the new tax code.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

This. Our HHI is over $1m but I'm happy with my 10 year old Toyota SUV with over 100k miles. Still looks nearly new and is very reliable. I'd love a new Porsche Panamera or Mercedes SUV but can't mentally stomach the cost. Once it's finally time to get my next car, I'd consider doing what PP suggests -- buying a lightly used "luxury" vehicle. Unless there's something really special about a particular new car, such as really great safety features that last year's used models don't have, I don't want to have the 20+ percent 1st year depreciation that comes with new cars. Fortunately, my spouse and I are on the same page about this sort of thing!

These people with their old Toyota’s and Honda’s just crack me up. How come I never meet you IRL! Ha ha. On my street in NWDC and my parking garage at work the majority of cars are BMW (X5), Mercedes (M and GL), Volvo SUV, smattering of Mazda crossovers.

Nobody had ten year old Honda’s. Just saying. I guess you’re just so much more prudent then the rest of the UMC.

First, someone with a HHI of over $1m isn't UMC. Second, the PP takes it to ridiculous levels. If you want something you can clearly afford, and deny it to yourself not because you are making a trade-off, or because of other priorities, bust just because you "can't stomach the cost," you're kind of an idiot.

For me it's a matter of priorities. I drive a "lightly" used Mercedes (in fact I have two of them) but I always fly first class. Many people would prefer to buy a new MB but fly in coach.

[Anonymous]

IMO, it depends on how much you enjoy and engage with driving. If you do, you may find it to be worth it. I splurged on a high-end car since I do a lot of driving the kids around on weekends, and to me it has totally been worth it. The power, handling, comfortable interior, great sound system, etc. YMMV, of course. Truthfully, it is probably better not to really appreciate such things from an economic perspective.

[Anonymous]

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

+1 this is my DH except he prefers a 1-2 year old used Audi

[Anonymous]

I generally stick to Hondas, not because of the purchase price, but because of the maintenance costs. Often I've thought, "I can get a gently used Mercedes or BMW for a similar price as a new Honda, why not do that?" Then I remember that the average maintenance costs are much higher (BMW is more than double Honda), and realize it's not such a good deal after all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
I had a family member that was in a bad car accident and he drove a luxury car--all the EMTs said the car saved his life. That is part of why I spend a little more on luxury brand b/c of their safety features.

Funny-- I know a guy who says the same thing about his Toyota Yaris. He was in a bad accident, walked away just fine, so he replaced it with another.

+1 Everybody probably has a story like this. In college I was on the highway when a tornado hit and all the cars around me ended up crumpled down to the tops of the seat backs. The 1996 Chevy Blazer I was in was the same shape after that it had been before -- just with no windows. Not exactly a luxury model.

[Anonymous]

Anonymous wrote:Ok, the reductio ad absurdum is over now.

I hear you, OP. I think the answer is, because all the other partners/neighbors/moms at carpool have one. It’s why all the parents at certain private schools end up driving the exact same Range Rover or Escalade. People will pay a huge amount of money to fit in.

That is correct, and don't be fooled. Their network, and therefore their careers and their children's trajectories, depend on it. It some cultures and social circles, it is essential to fit in.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

This. Our HHI is over $1m but I'm happy with my 10 year old Toyota SUV with over 100k miles. Still looks nearly new and is very reliable. I'd love a new Porsche Panamera or Mercedes SUV but can't mentally stomach the cost. Once it's finally time to get my next car, I'd consider doing what PP suggests -- buying a lightly used "luxury" vehicle. Unless there's something really special about a particular new car, such as really great safety features that last year's used models don't have, I don't want to have the 20+ percent 1st year depreciation that comes with new cars. Fortunately, my spouse and I are on the same page about this sort of thing!

These people with their old Toyota’s and Honda’s just crack me up. How come I never meet you IRL! Ha ha. On my street in NWDC and my parking garage at work the majority of cars are BMW (X5), Mercedes (M and GL), Volvo SUV, smattering of Mazda crossovers.

Nobody had ten year old Honda’s. Just saying. I guess you’re just so much more prudent then the rest of the UMC.

Guess you haven't met me with my 13 year old trusty Corolla in an expensive part of Bethesda. We do exist. Many of my neighbors drive more expensive cars, but somehow we still get along!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make a lot of money and just can't see myself spending $100,000 on a car. But, I will spend $35-40,000 on a used Mercedes coming off a 3 year lease with only 20,000 miles. I get it for about 60% of the original price. So I drive a nice luxury car without the luxury price.

This. Our HHI is over $1m but I'm happy with my 10 year old Toyota SUV with over 100k miles. Still looks nearly new and is very reliable. I'd love a new Porsche Panamera or Mercedes SUV but can't mentally stomach the cost. Once it's finally time to get my next car, I'd consider doing what PP suggests -- buying a lightly used "luxury" vehicle. Unless there's something really special about a particular new car, such as really great safety features that last year's used models don't have, I don't want to have the 20+ percent 1st year depreciation that comes with new cars. Fortunately, my spouse and I are on the same page about this sort of thing!

Why can’t you stomach the cost? Are you worried about something?

[Anonymous]

Just seems like a waste of money to spend $85-100+k on a new car. However, it is all about priorities I guess. I admit I don't have a problem spending...

$150+ for a top quality dress shirt
$300 for wool dress slacks
$600 for leather dress shoes
$10,000 for a top of the line furnace
$12,000 for an awesome family vacation
$40,000 for a year of private school
$600,000 for a weekend house

And, perhaps most importantly, I just really like my 10 year old Toyota SUV!