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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Omg another wealthy person bragging about their “frugal” habits. Sigh.. [/quote]

This thread is obviously full of liars trying to perpetuate old money urban legends as a cope for not being able to afford nicer household cars.

My husband is in private wealth management. Nobody making $300k, 400k, 500k hhi is driving an old s***box. Nobody. All of the execs and business owners in this income bracket get car allowances (upwards of $1,000/month) and/or it's basically free to upgrade a new truck every year due to tax laws. And of course they care about their perception. That's not to say they have to drive a tacky flashy new car, but they're not going to be caught dead in some decade old Nissan, Honda or Subaru.

Further, with newest safety features and efficiency gains, old cars are obsolete and unsafe. And the last thing rich want to do is carry AAA and deal with tow trucks, rental cars, and maintenance.[/quote]

I'd slightly disagree for the 300k HHI level. It's reasonable that a family at that level could have grad school debts or paying private school tuition and living in a closer in area with a big mortgage could be fine with a Fit for errands and rarely driving more than that. But I do agree it's unlikely that someone making 500k HHI is fine driving around in a seven year old Fit for a family of four. The gap between 300k and 500k is significant. They would be going out of their way to put up with the inconveniences of an old Fit and the more money you have, the less likely are you to go out of your way to suffer inconveniences and discomfort to make a point.

The old money people cliche do drive non-flashy cars, but it's still newer, nicer cars like a loaded Subaru Outback. They're not driving Fits to their summer houses in Maine. [/quote]

Wrong! The inconvenience would be getting a new car! The only frustration I have with my Fit is that in order to get music over the speakers you have to use a cord, but of course we could buy a Bluetooth thing and then I wouldn’t have to deal with that.

But even the idea of thinking about buying a new car is overwhelming.  Look at all the posters on here asking for advice. Figuring out your needs, budget, the pros and cons of all the different options, etc.

If we had had an HHI in the 500s when we bought the car, we would not have bought a fit. But we bought it when our HHI was 55K and we had lots of student loan debt. [/quote]

$500k around here is probably biglaw and there is no allowance for that…that’s a weird assumption.[/quote]

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