Quote:
Originally Posted by disneysteve
I don't agree that people buy nice cars to impress their friends and neighbors. I think most people buy them because they like them.
That said, I do agree with you that most people spend way too much money on their cars and it negatively impacts their financial well being.
You are also right about this being a largely American phenomenon. Go to any other developed country and you will hardly see any of the monstrous size vehicles that folks here insist that they "need" to get around with their families. Somehow, families in plenty of other places get around just fine without a Lincoln Navigator or Hummer.
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Well, take the Toyota Camry, and it's Lexus equavalent for example (there are many other examples). Same engine, transmission, same drive train, same reliability, and yes the Lexus will have a few more features, and worse MPG, and similare size, and even looks, yet it can cost $10,0000 to $25,000 more. The ride is the same, the Lexus will have more power though...is the difference in price worth the "extras"? Yes for some that "need" the distinction between themselves and their neighbors.
This was typical all over middle class America...and it was about "I am better then you". Vanity is one of the reasons middle America suffers from this current downturn. It's less about loving cool cars and more about flash, appearances, and such. Often these shallow people will do something really stupid, like lease a Mercedes or BMW, pretty much anything to get into one...and because they don't own a business they can't write off the lease pmts...this is pure vanity, plain and simple.
Now don't get me wrong...I love cars, fast, expensive, luxurious...I love going to the car shows and such, but to actually buy one now...no way!
But someday I will! After I become truly rich and have my entire future covered financially...you betcha I will! lol