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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]6.3 million net worth and 750k HHi early 40s.  We buy cars in the 55-75k range.  Trade in current cars every 4-5 years or so and add 10k down each time.  Finance the rest so we have a small payment.  Literally don’t notice this in our budget.

Why not drive a mid higher end / fun to drive car when it barely makes a dent?[/quote]

Because some people are cheap or just think it’s brag worthy to drive a 20 year old beater. My parents were like this. We had to ride around in unsafe, embarrassing cars. But hey, at least I’ll inherit a lot of money?? I can afford nice cars, and I buy them. Doesn’t affect our budget one way or another. [/quote]

I don't think these people are even cheap. I think they are cosplaying wasps.[/quote]

Or not.  I was taught from an early age that a car is a depreciable asset (if you can even call it an asset) and the money is better invested. So was my spouse. A car gets you from Point A to Point B at various levels of comfort, reliability and ostentation. I think there are plenty of insecure strivers here who like to flaunt their wealth (and sometimes fake wealth). That Range Rover or Porsche conveys much more about your values and priorities than my Toyota or Honda ever will.[/quote]

Except many people here drive the Toyotas and Hondas precisely in order to prove a point about their values and priorities. That's the tone of this whole thread.[/quote]

Or maybe we drive our Toyota's because they are deeply reliable cars that run well and require very little upkeep. I've had mine for 20 years and it will not die. As a result, my brand loyalty for this car is insane. I'm not "proving a point." I just want a simple car that I can depend on. [/quote]

That is not how you or the other responders phrased it. It is partly about signaling, even if of course you like the car. When a millionaire is driving an ancient car with some major safety issues (not sure if that was you), they're doing it to prove something, to the detriment of their safety.[/quote]

DP here. Does that bother you? Who cares?[/quote]

I’m a PP. Yes, it clearly bothers that poster because it forces them to do some navel gazing about their own choices and values. They like to use the “safety” straw man to draw a distinction here for one PP’s comment. But that’s a red herring. My 20 year Honda is safe and reliable. It doesn’t have the latest side and rear sensors but does very well in crash tests. I can’t say the same about cars like the Porsche 911/930. And guess what? I’m saving a ton on maintenance, insurance, and loans that I get to bank for retirement and inheritance for my kids. They can peacock all they want but I for one am not impressed. [/quote]

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