True of False? Most people who drive nice cars are NOT wealthy...

Leasing a high line vehicle really isn't that expensive if you are making a lot of money. The manufacturers have very good deals on leases so they can get the vehicles back on the lot as certified pre-owned vehicle. For about $1,000-$1,200 a month, you can lease most luxury import SUVs and never have to pay a repair bill or deal with negative equity.

There are a lot of people who just like the high line vehicles and are willing to pay extra for them. It is a free country. There are also a fair number of people who buy used high line vehicles because they need to look like they are doing well. Realtors, certain people in sales, people running a small business, etc. will buy high line vehicles to create the impression that they are doing well.

That is a turdload of money.

Getting locked into a monthly vehicle payment is dumb. Everyone needs a new vehicle though.

I think buying something you care about makes sense. Not flashy and short lasting or so cheap it's trash.

Same thing around lower rent apartments in cities. Different vehicles, same idea.

I'm going to say the answer to your original question is false.

Most people drive vehicles that are in line with their household budget. The ones that don't ($75k pickup parked in trailer park or $5k beater in Beverly Hills) draw attention but are the exception, not the rule.

I'm locked into a new vehicle payment ($1,125) for the next 30 months. My APR is 2.49% and I'm earning 4.6% on my cash. I also have $40K equity in the car, and could pay off the balance tomorrow if I had to. It will likely be worth more in 10 years than it is today, and I get to really enjoy it when I please.

Is that dumb?

In the UK they're all on lease. I saw a teaching assistant on £11 an hour driving a brand new range rover sport.

What is dumb is the statement that your car will be worth more in 10 years than it is today.

There is equity growth in any car unless its a hyper expensive collectible car. From what you posted, that is not the case.

no equity growth...

The money could be put to better use instead of something that loses value after driving it off the lot

It is a very limited run vehicle ~2,000 units worldwide, even less in manual transmission. Won EVO Magazine 2020 Car of the Year. It's a true drivers car, but not a hypercar or technically even a sportscar. I only put about 2,500 miles per year on it.

The closest comparison is the 2011 BMW 1M. You can't get a low mile example near what it retailed for new.

I always imagined that the truly wealthy don't drive at all.

I’ve never ever seen a white person getting out of a Cadillac Escalade. Ever.

Similar story here. Combined income over 1MM. My wife drives a VW Atlas and I drive a Ford Bronco Sport.

You obviously haven't been to Beverly Hills or Bel-Air, where a regular car is a Mercedes-Benz.

this fun - 488.5, 1,212.12, 14, 45

What’s important is that you drive the car you like and not care what other people think.

I see a lot of snobs here that look down on people that choose to spend more on a car than they would.

Sure, you can hold onto more wealth if you are frugal with your car purchase, but what’s the point of having money if you don’t spend it on something you want?

It’s fine if you don’t want a nice car but why begrudge someone who does?

Hahaaha worth more in 10 years. What did you buy? A Carrera GT? A Bugatti? 4.6 CoC? The sp is up 19 percent YTD....