And they don't have a common person's worries,more like rich people problems.

Yes. That is one of their toys.

No, I assume Ferrari (or insert applicable car builder) made it.

I assume they are in major debt given that this is America and the vast, VAST majority of people who buy "luxury" items cannot actually afford them.

They drive the palace but live in the shack.

Normally think over compensating for an insecurity and likely emotionally damaged.

Always fun to pretend they're in debt, but for the most part they are business owners and pay cash.

Here is a secret I will let you all in on...

Many kinds of expensive cars don't depreciate. The cost to own is the opportunity cost of not having that money elsewhere. Sure some people take notes, but most people who own an expensive car know they will get back what they paid and own it for "free".

The most well known "free" car is the lotus. It isn't really expensive but just about everyone understands that you will get all of your money back when you sell it. That is why every Elise out there has 5 plus previous owners.

I assume they are really bad with money.

I assume they're Columbian drug lords.

By "car" does this include farm implements? Because I know plenty of people who drive cars (aka farm implements) that are over 200k.

The Real Napster said:

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They drive the palace but live in the shack.

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You are correct, if we're talking about a new Camaro. But a Camaro is not a > $200k car. People driving $200K plus cars can generally afford that and more.

Win At Life said:

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The Real Napster said:

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They drive the palace but live in the shack.

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You are correct, if we're talking about a new Camaro. But a Camaro is not a > $200k car. People driving $200K plus cars can generally afford that and more.

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Woah, woah, woah .... easy on my camaro .... and my shack!

Depends on the race of the person.

Oops, was that racist?

Drugs or they're plumbers.

infinity ag said:

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Depends on the race of the person.

Oops, was that racist?

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If they're over 6'6" and Black, I assume they're affiliated with the NBA as a current or former player.

If they're Armenian or Persian and driving a G-Wagen or a Lambo Urus, I assume their daddy did very well in Real Estate in Los Angeles.

If they're a White guy over the age of 60, I assume they've been very successful and this is part of how they pick up young chicks. I also assume they've got a supply of little blue pills that they never leave home without.

If they're musclebound and bald and are wearing Affliction or Tap Out or Gracie Barra shirts, I assume they're not going to have that car for very long and there's a good chance they'll be dead soon.

https://www.foxnews.com/story/tapout-founder-killed-in-socal-ferrari-crash

knoxtom said:

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Here is a secret I will let you all in on...

Many kinds of expensive cars don't depreciate. The cost to own is the opportunity cost of not having that money elsewhere. Sure some people take notes, but most people who own an expensive car know they will get back what they paid and own it for "free".

The most well known "free" car is the lotus. It isn't really expensive but just about everyone understands that you will get all of your money back when you sell it. That is why every Elise out there has 5 plus previous owners.

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That's not true for most exotics.

McLaren's depreciate about 30-40% in the first year or two. Lambo's and Ferrari's as well.

The only ones that don't are the super limited run models that are $500k+ starting but usually are in the $700k range with options. Or the $1M 200-run models (new Countach). First year of a new model can hold it's value, until enough of them get built to overcome demand, then they drop like a rock, Ferrari 488, F8 Tributo, California, Roma).

Some people get lucky and time the market such that an older car will increase in value (old Countach jumped a lot from from 2010's to now, 80s/90's Ferrari's have increased in the last 10 years) but for the most part, that is complete luck.

I owned a 1977 Ferrari 308 GTB for 13 years and the value never changed for 12 of those years, but I put a ton $$ into it keeping it running, fixing stuff that broke (it was 30+ years old), and just in routine maintenance. If the market hadn't suddenly decided Enzo era Ferrari's were worth more money, I'd have lost money if I'd sold it one year sooner. It was just a fluke and I got lucky the market exploded for them (has since calmed down a lot). If I sold it today I might break even.

I assume they need to get out of the left lanes, just like almost all the other cars on the road.

I assume the BMWs, Land Rovers, and Mercedes are either daddy's money or they are flat out broke due to their stupidity.

If the car is orange, I automatically assume the driver is a d-bag.

I assume they must have liked the vehicle to buy it.

I know someone who sold one of his businesses and made a killing. Since the sale, he has bought two Ferraris, a house, another car, and taken a few international trips (with more planned). No idea what he has socked away for retirement and for his kids' college though.

Not everyone lives beyond their means. Sometimes their circumstances change and as a result so do they. And not always for the better...

Also, he let me drive the first Ferrari he bought. It was pretty cool, but not very comfortable.

HollywoodBQ said:

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If they're musclebound and bald and are wearing Affliction or Tap Out or Gracie Barra shirts, I assume they're not going to have that car for very long and there's a good chance they'll be dead soon.

https://www.foxnews.com/story/tapout-founder-killed-in-socal-ferrari-crash

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Damn, he was 45, and 23 year old ejected from vehicle and survived.

Dude died haulin ass in his ferrari while getting a hummer from a coed half his age.. What a way to go.

Really varies by buyer. There are some people with ultra high end vehicles that are just plain wealthy. There are also a lot who are up to their eyeballs in debt but need/have to maintain the image.

Almost all luxury cars depreciate in value. Most very quickly. I have paid a lot of tuition in the luxury toy car market. Set up a car dealership with a buddy so we could buy at auctions/from dealers and see how we could make out. Never made a dime in 17 years. I have owned most of the desirables, and it took years to learn how to not lose 10s of thousands on a car. Best I could ever do was a deal with Porsche dealers to buy their 90 day old inventory, drive around a few months(sometimes track them at TWS) and sell them back for a few thousand less.

All of the S-class Mercedes including Maybach have a steep depreciation curve. Same with 7 series BMW, McLaren, Porsche, and Ferrari/Lambo. The exception to this are the collector series. But you have to be an expert and be well connected with a long term hold mindset to make any money.

Was in London recently and stayed in the Mayfair area. A typical townhome with no garage goes for around $15 million. It is common for an oil beneficiary to buy one of these and only use it a couple of months out of the year. There is a booming business at the Ferrari/McLaren/Rolls dealerships. These buyers buy one for say, $400 thousand. Drive it for 2 months and drop it off when they leave. Sell it back for $250 thousand. Point of the story is, most people who drive $200,000+ cars don't think about the cost, the trade-in value or depreciation curve. They drive what they like and it is just part of their living expense.

I always assume the worst of anyone that owns a car, no matter the price.