Buying a 'dream car'
- Thread starter Moneyman_85
- Start date
True. And if you really rich, you don't need to prove it to others less $ than you by having the car. You know your rich.
Peter
Does a Corolla count?
I think much of the reason is that most millionaires attain that status slowly by spending less than they earn and investing the difference. The number of overnight millionaires is relatively small by comparison. The idea of getting a fancy car one day may have been something they started off with but by the time they get to be "rich" they realise that their happiness comes down far more to their financial independence and that feeling of freedom which comes from being in control of their expenses. In the vast majority of cases, they no longer have anything left to prove to anyone, least of all themselves.
When you get to that point, buying a fancy car just seems like a step back that will make you less rather than more happy. "Stuff" like that just takes you further away from what gives you the most fulfillment.
Agree with most of what youve been saying but not the last bit. I personally dont "get" spending massive amounts on cars but there are some who do enjoy it. I can think of at least couple of people i know who would fit that description. They certainly have nothing to prove to anyone and long ago achieved "financial independence and that feeling of freedom which comes from being in control of their expenses" but choose to spend enormous amounts of $$ on cars. Why does it bother you that they do? Why does it make them less happy in your eyes?
I fully accept some people fit that description. Of course, if you have a net worth of $100m then what does a $100k car matter? Other than what that $100k could have provided your community but never mind - that is not the circumstance of the majority of people reading this.
My comment on the behaviour of the majority of millionaires (as supported by the evidence presented by Stanley and Danko) is not disproven by presenting the exceptions to the general rule. Perhaps you can better explain their behaviour? Maybe they all still go to bed praying for a Mercedes Benz because their friends all drive Porsches but they are forbidden by their spouses from that one purchase that would give them complete fulfillment in life?
What was it like owning the Ferrari? Get plenty of looks with that I bet!
Have to agree; and this could be said about any high end consumer item.
One guy I know buys a new set of top-end golf clubs every year.
He doesn't need them, and it doesn't prove he's a good golfer (he is, though)..and it doesn't make him a better golfer.
He can afford to do it; for him it's just the thrill of using the latest and greatest.
It doesn't make him less happy; makes him more happy. Make the local Pro at the Club who sells 'em to him happy too!
I reckon if I was turning the "Countach" over for a newer model every other year I reckon I could be happy as I do it.
I think you'd find that the overwhelming % of folk who are worth $100m would put back into the Community well in excess of $100k over the life of a car of the same dollar cost....
More than most of us average folk can do in our whole lives I'd wager.
Many are extremely generous, but extremely private about it.
Here's one eg; maybe not so private, but.....
The Getty Centre in L.A - you cannot begin to imagine the level of wealth of the art collection in that facility, and the facility itself; it is on absolute prime L.A real estate as well...worth over a billion easily; all up - would be my guess.
The cost to go and see this wonderful exhibition; $5 car park fee. All funds go to the County of L.A.
The day we were there; I reckon over 1,000 people were wandering around.
Makes my few hundred dollars per year donations look a tad sad.
Have to agree; and this could be said about any high end consumer item.
One guy I know buys a new set of top-end golf clubs every year.
He doesn't need them, and it doesn't prove he's a good golfer (he is, though)..and it doesn't make him a better golfer.
He can afford to do it; for him it's just the thrill of using the latest and greatest.
It doesn't make him less happy; makes him more happy. Make the local Pro at the Club who sells 'em to him happy too!
I reckon if I was turning the "Countach" over for a newer model every other year I reckon I could be happy as I do it.
Exactly. Some people have a passion for a certain thing.
I don't begrudge them for it, or judge them for it.
I love cars and driving. But I do it within my means. It's just that someone dropping 400k on a car has much bigger means than me
So TRUE!!!!
This thread got me thinking. Interesting mix from the worlds wealthiest.
http://www.digitaltrends.com/cars/d...ds-wealthiest-people-and-the-cars-they-drive/
http://www.digitaltrends.com/cars/d...ds-wealthiest-people-and-the-cars-they-drive/
Got a lot of looks, not that I bought it for that reason. Had more looks from the Nissan GTR R35 as their are only 500 in Australia.
I will say the cars under 50k are the most comfortable cars to drive in and park.
Looking back I can't help and think what a lot of money I have burnt, might be that I turned 40 and my way of thinking has changed.
You must have attracted a fair bit of beautiful companionship with all that glittery macho auto-ing to leisurely places? I once saw what attention a Ferrari at a coastal resort can attract apart from the femme fatale in the passenger seat, who was flattered.
I think it's pretty sad some of these seriously wealthy people that can't think of anything better to drive than a 10 year old volvo. I think people also like to roll out these stooges to make themselves feel better - for every scrooge millionaire I reckon there are plenty more that have a whole collection of cars. One bloke on millionaire matchmaker the other night had about a dozen various cars from ferrari to porcshe
I don't think they actually do.
From my experience; the seriously wealthy drive nice cars....because they have finally arrived at that place where they can.
I reckon that "millionaire driving a clunker" story is mostly that - a story, an urban myth.
I don't agree at all. To me, a car is in the same category as a toaster or a television. They may drive a cheap car but still spend money on other things that give them joy like travelling, nice clothes, art, designer furniture, eating out in nice restaurants, helping others, etc. I think the problem is getting to that stage but being so obsessed with money that you can't spend it on anything. There's nothing particularly special about cars specifically. There would be many rich bankers working in places like Wall St who don't even own cars as they are just a liability in New York. Everyone has different preferences.
i bought a new car several years ago when i was in my early 20's
Lost heaps and promised i would never do that again.
shortly after i bought a muscle car. Trippled my money in under two years.
Since then my love of all things with a motor has not changed but i no longer loose money when i do.
I bought a ducati 916 and sold it for more
just bought a 1948 royal Enfield flying flea and was offered double 2 days later.
Basically you can have a dream car and not loose money provided you are not addicted to the new car smell. If you are addicted your toast.
Cheers
Lost heaps and promised i would never do that again.
shortly after i bought a muscle car. Trippled my money in under two years.
Since then my love of all things with a motor has not changed but i no longer loose money when i do.
I bought a ducati 916 and sold it for more
just bought a 1948 royal Enfield flying flea and was offered double 2 days later.
Basically you can have a dream car and not loose money provided you are not addicted to the new car smell. If you are addicted your toast.
Cheers
