Anonymous
09/04/2025 12:23
Subject: How do so many young families have $80k SUVs?
^^also we paid cash for both so no loans.
Anonymous
09/04/2025 12:23
Subject: How do so many young families have $80k SUVs?
Anonymous wrote:I am a teacher off for the summer. Everywhere I look there seems to be a SAHM running errands with 3+ little kids getting into a brand new looking Suburban, Tahoe, Expedition, etc. These moms look 35 or less. I see this in the dismissal car line at our public school too. How do they afford this?
We have 2 large SUVs. I have a 2025 Lexus LX, 700, DH has a Grand Wagoneer III Obsidian.
Anonymous
09/04/2025 11:44
Subject: How do so many young families have $80k SUVs?
Anonymous wrote:I just want to chime in and say the average new car loan in the US is now $745/month for 68 months. I'd wager a good number of people the OP is describing have $1,500/month car payments
That helps explain why so many are in financial trouble in the US. Nobody should have a car loan for more than 36-48 months. You should aim for 36 months, then keep the car for 8-10 years, while continuing to save your monthly payment. Then the next car with trade in/resale and what you have saved you will pay "cash" or only have a tiny loan.
Anonymous
09/04/2025 11:21
Subject: How do so many young families have $80k SUVs?
I just want to chime in and say the average new car loan in the US is now $745/month for 68 months. I'd wager a good number of people the OP is describing have $1,500/month car payments
Anonymous
09/03/2025 18:39
Subject: How do so many young families have $80k SUVs?
Anonymous wrote:Anonymous wrote:Anonymous wrote: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.
I bought a Honda because I’m not wealthy.
As a financial advisor, I tell my clients this all the time but they still go ahead to buy expensive cars. Why? Because they can afford it. The truth is a lot of people in this area are either from money or make very good money.
And if they can truly afford it great. My last car cost me $95K, and my spouses next car will be $75K+. But we can afford it, we pay cash. But if we had to finance it, and actually budget to make it happen, we would be driving Hondas/Toyotas still. We aren't from money, we made very good money, managed it well and now get to spend it as we deem appropriate.
Anonymous
09/02/2025 11:01
Subject: How do so many young families have $80k SUVs?
Anonymous wrote:Anonymous wrote: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.
I bought a Honda because I’m not wealthy.
As a financial advisor, I tell my clients this all the time but they still go ahead to buy expensive cars. Why? Because they can afford it. The truth is a lot of people in this area are either from money or make very good money.
Anonymous
08/15/2025 17:18
Subject: How do so many young families have $80k SUVs?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Don’t be surprised by the number of well off families who drive the Sienna/odyssey as well—they’re just as wealthy but chose practicality over flare.
Did just that! Much preferred driving the minivan over a huge SUV, and the mid size SUV (Honda pilot/highlander) don't have much trunk space when you use the 3rd row (which is often barely a 3rd row. With minivan you get more cargo space and an actual 3rd row an adult can spend more than 30 mins in. Oh and the gas mileage is double to triple what the massive SUVs are and you can actually park your vehicle in a parking garage without hitting others ;-)
Minivans are just so ugly. To some people it does matter. I don’t think people generally need the huge Tahoes and Suburbans and Wagoneers, but I absolutely understand picking the sleeker, smaller 3 row SUV over the minivan.
Some people prefer functionality. Those "sleeker smaller 3 row SUVs" typically don't have much trunk space when you put people in the 3rd row. A minivan does. Also, the 3rd row in many used to be that only someone under 10 could comfortably sit there for more than 30 mins. My minivan could comfortably seat 7 (and 8 if I'd selected a row in 2nd row). I wasn't going to pay $20-30K more for less functionality when I needed it.
I had a boss who owned a nine passenger Surburban. They had a model with a bench in Front seat. She always complained about it. When she went to Hamptons she bought her nanny, four kids, her inlaws and her and husband so needed nine seats. Lucky for her not much luggage as had duplicates of stuff in Southhampton house. She lived in Manhattan and paid for one parking spot so vehicle had to seat nine and fit in spot still. She cry all the money in the world and only Chevy makes a car I can drive.
Anonymous
08/15/2025 16:14
Subject: How do so many young families have $80k SUVs?
I’d rather drive a minivan than write “family’s” when I meant “families.”