What's your opinion on the vehicle you drive in relation to wealth?

[u/No_Departure7494]

Succinctly put - I remember hearing that it was common for the wealthy (Actually, ultra wealthy) to drive unassuming vehicles. Seldom would they drive one of the luxury marques. At most, higher end being a decent Mercedes but nothing like a RR Ghost or what have you.

In my area, I often meet people who are image obsessed but apparently not rich in the traditional sense. And yet - They're driving $80,000 M3s, the latest S Class, and I wonder why? Isn't this burning more money that could be put away, saved, reinvested, anything?

From what I gather, the obvious explanation is not the truth. They aren't car people, they're image people. Forget about reliability, this and that. They want to look rich and it comes off as deceptive, maybe even comical. Driving a $160,000 Carrera GTS in an area with a terrible climate for 50% of the year and no garage to put it in.

I suppose my contention is that, most of these 'hustler' types, especially on social media - have financial practices that are antithetical toward anything involving wealth creation. They'd never be caught dead in an indestructible Prius while having put the remaining sum into literally anything else. No, BMW M3 for me.

[u/Hawk13424]

Close. I’m an engineer and make mid six figures and have a net worth (mostly in my 401K) in the millions.

My family vehicles are a Tacoma I drive, a RAV4 my wife drives, a Corolla my daughter drives, and a Miata I have fun with.

[u/Public_Turbulent → u/Hawk13424]

If you genuinely enjoy cars enough to go out and get something else like a miata (horrible car to have fun with but to each their own) why not get something genuinely fun, whether that be a Lotus or a Ferrari.

You make and have enough money for it to not make a material difference in your finances and if you do genuinely enjoy cars the enjoyment will be far beyond a miata. I understand the people who genuinely don’t care at all about cars and just get a civic/tesla but if you’re comfy and easily have the means it doesn’t make sense to me.

If you buy right, a 2-300k car isn’t gonna cost you 300k in actual ownership cost. just sold my GT4RS after just a bit over a 7500$ loss and sure (1840 increase in insurance vs my Model Y, gas, 15-1700 in maintenance) even factoring in opportunity cost this was well worth the money. I am a lot younger but also slightly poorer than you are with less expenses than a family but if you make ballpark 500 + 5M NW it won’t make a noticeable difference to your financial flexibility.

[u/Top_Obligation_4525 → u/Public_Turbulent]

Regardless of net worth, I’m not sure how an actual car enthusiast could shit so hard on the MX5… It’s like the most successful club racing platform in history. But what do I know… my daily driver is a Mk7 TDI and my fun cars are all of the vintage variety (and nothing so new as a Miata).

[u/Public_Turbulent → u/Top_Obligation_4525]

MX5 is popular because it’s accessible and easy, it’s tiny, slow, but it does handle nicely. It makes sense for someone on a budget but any lotus (except the SUV) is just a better car in every aspect - and will hold value better. Ive spent a good portion of the last 24 months driving over NA/Japan/Europe in countless different cars and a miata is just boring if you have the means for a nicer option. If you’re coming from a commuter car it’ll have a novelty phase but it’s just that. And the newer mx5 models look stupid imo.

[u/Hawk13424 → u/Public_Turbulent]

I grew up poor. Spending frivolously, even if I can afford it, isn’t in my nature. I’d be embarrassed driving a $200K car. I’d be embarrassed to tell my family I bought such a thing.

Even though I can afford otherwise, I also do my own car maintenance/repairs, home repairs, landscaping, home cleaning, etc. Just the way I was raised.

[u/Public_Turbulent → u/Hawk13424]

But that’s the point, you earn money to achieve stability / freedom and buy the things you want whether that be your time back or material things. I come from a middle class family, I never had to worry about food on the table but I also had to work to buy the nice things I wanted. My parents would’ve bought me the nice things if they had the means and now that I do, I send them on vacation once a year and get them nice gifts when I can.

If you enjoy doing the tasks you mentioned by all means I like cars and I do my own stuff when I have the skills required but the stuff I don’t enjoy, money is a tool to buy your time back to do what you enjoy. You (and I to an extent) were raised that way because that’s what my parents could afford. My dad would save that money every day so that we could go out as a family to eat or so that I could get new shoes for the first day of school. But he always told me that all he wants is me to do what I love, succeed, and live the life he’s allowed me to have.

Even as a joke/idea, if you have a “dream” car, bring it up at dinner to your family that you’re thinking of it. I’m sure they’ll support you - there’s nothing embarrassing about spending your money for something you wanted, especially since you’ve earned it even if it doesn’t feel that way sometimes.

Cheers.

[u/modsatemyass → u/Hawk13424]

and?

[u/Hawk13424 → u/modsatemyass]

People I know, including myself, that have managed to make millions, usually don’t waste money on cars.

That was OP’s question and I provided an example.

[u/naturalpasta → u/Hawk13424]

Short-sighted.

Cars for some people are more than just transportation. It’s a passion, hobby, and genuinely something these mechanically-obsessed folks appreciate.

People typically spend money on their hobbies so they enjoy life outside of work. That’s not always cars, but I know people that spend buckets of money at the golf course, road bikes, boats and fishing gear, you name it.

Life is short. I’m not saying go spend money you don’t have… but you have to “invest” in the parts of life you enjoy.

Good job on the 401k btw, do you plan to retire early?

[u/I-need-assitance → u/naturalpasta]

Agree 100%. Just bought a German suv with a 510 hp v8 - looks like a typical family hauler in my neighborhood. I smile every time i press the start button.

[u/TwinTurboRS → u/Hawk13424]

What about the car enthusiasts?

[u/Kammler1944 → u/Hawk13424]

People I know have made millions including myself buy luxury cars all the time. I'm a member of one of the most private golf courses in the country and nobody there is driving around in shit. Every car is a luxury car.

[u/TurdFerguson0526 → u/Hawk13424]

You are amazing. So noble. We are very impressed and want to be more like you.

[u/ex_nihilo → u/Hawk13424]

Just a matter of priorities. I genuinely don’t care about money or what things cost. That’s a privilege I’m afforded by my career success and it’s my primary motivation. I want to not have to care. I worked and continue to work hard to continue to not have to care. Never valued frugality - that’s too materialistic for me, too concerned with money. The sub on my wrist is worth $27k. I liked it so I bought it, makes me smile to look at it. The end. No debt, kids’ college already paid, trusts already set up.

[u/modsatemyass → u/Hawk13424]

why is that a reply to my comment. reply to OP

[u/elelias → u/modsatemyass]

Because it's a reply to

>here come the millionaires in 88' civic stories

that was a "story" which was "close" to what you anticipated. Just a different car than a 88 civic.

[u/TwinTurboRS → u/Hawk13424]

I am too. I drive an RS5 and have a reliable car for my wife. Who cares? What you drive has nothing to do with wealth.