Reply to How do so many young families have $80k SUVs?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Any financial advisor will tell you that one of the worst purchases you can make is an expensive car.  These people are buying them for show.  The really wealthy and smart people are buying Hondas and Toyotas for cash and keep them for ten years.[/quote]

This.  People who buy these luxury cars to make other think that they're high rollers are usually the ones who are financing them up to their eyeballs.  People with real wealth don't need an $80,000 Lexus to show it.  They stick with the $35,000 Camry and invest the rest.

OP, don't be jealous of these people.[/quote]

I don't really agree with this.  If someone makes $1m+ a year, buying an $80k lexus vs a $35 camry will not alter their future financial trajectory one bit.  And why would someone who has obviously worked hard to get to that level want to drive around in a cheap, ugly, low-performance car like a camry?  Treating yourself with a nice car that you spend a lot of time in and want to be safe and secure makes a lot of sense.

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