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]Rich people are too money smart to waste money on an overpriced status symbol car. They don't want other people to know how rich they are.[/quote]

Yeah, you really must not spend much time with people of significant wealth. The Sam Waltons of the world are rare. The billionaires I know personally all have at least one if not two very large private planes, giant houses and drivers. A few have 24/7 security teams beyond just home security.

A lot of old money is running out of money, so yeah, they aren't buying expensive cars.

If you're talking about the people with 4 - 5M in retirement accounts, then I would agree, plenty of these people are not buying expensive SUVs. I think when people who have made their own money hit about 8M, then the cars get nicer.[/quote]

This is such a baffling conversation. A new BMW costs about 65k. A few years used it goes down to much, much less, under 40k. That is really nothing for anyone wealthy, and I don't mean billionaires, as long as you keep that car for a decent amount of time. I think people here (and I've never heard people talk like this irl!) assign some special value to Hondas, as if t[b]hey signaled humility and thrift[/b]. But they can be just as expensive as luxury cars. [/quote]

I am the PP. A high end BMW is double that. But that is beside the point. I think that people on DCUM like to virtue signal with their "old" cars. And some simply can't afford to live in the area, pay for private and vacations, fund 529s and retirement AND buy an expensive car, so it's easier to try to spin the narrative that rich people don't waste money on luxury cars. There is no one universal truth here. Life and people are far more complex than that.[/quote]

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