Question:
or is it not a good measure.I get insecure when i see people driving bmw's and i have a regular car.
Answers:
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Generally, a car can be a good judge of income. Certainly those people driving new or newer Mercedes, Lexuses, etc. generally have higher incomes, because they need to have the income to make those high car payments.Need to buy a used car, SO Many choices..Help?
However, do not confuse income with wealth! Those people may be spending all their money as fast as they make it, and have little to show for it except high car payments and lots of debt.
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There's a book called The Millionaire Next Door that studied many millionaires and how they got that way. One of the biggest factors was that most lived well beneath their means. They may have been able to afford a BMW, but bought a Ford or Chevy, and used more of their money to grow their business or invest. Many bought simple domestic models or even used cars.
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The book is an excellent study of generically how the rich got rich.
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sometimes but some people buy luxury cars to look like they have money when in reality they are in debt to their yingyang!You have no way of knowing how that person got that car. It may have been a gift, or may have been a totaled vehicle or whatever. You need to be more at ease with yourself. Doesn't matter what a person drives. My neighbor is a multi-millionaire, and drives a 73 Pinto because it doesn't cost very much to insure and drive. He told me he would never buy a new car because it is like throwing $4000 out the window the second you get in and drive off the lot.
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Cars are just symbols.Don't feel insecure.
A lot of people are driving around cars that they really can't afford! I appreciate people who live within their means.
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Very Very much not a good measure as in USA everyone lives off of the "charge it" mentality and live way way above their means. Read as having little money but much in the way of accoutrement's. If they can afford a Tarus, they buy a Mercedes. If you drive the car that you can afford you are way ahead on my most admired list. Please stay reasonable and rational and drive what you can actually afford to pay for.I plan on buying a radar detector, which one should i buy?
Don't be insecure. Those people are paying BMW money. My best friend has a BMW 745i 04', i think. She is dead broke. Know why? because her car payment is $900. a month, not including insurance. Live within your means. It looks better. Have a nice place to live, nice furniture and a great wardrobe first. Pay your bills, then get a great car.Only on the extremes. If someone has a very very expensive car, like $100,000 or more, then you can assume they are well off. However a person can get a valuable classic car cheaply through shrewd trading and by fixing it up himself.
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On the other end, some very wealthy people enjoy driving humble cars. I heard that Sam Walton (multi-billionaire) only drove an old Ford pickup. But if the car is falling apart, smoking, backfiring, has bald tires or plastic bags where the windows should be, you could reasonably say that person does not earn much.
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In the middle, you never know.
I agree with maxnull above. If you see someone driving a lamborghini you can safely assume they got $$$ coming out of their ***. But anything less than 70K I usually assume its financed from experience. The majority of ppl these days are dead broke due to living above their means to show off. Even I do!! I'll admit it, lol. I just drive a camry, I bought (financed) it almost new at 15K. I make 40K a year. I dont have 15K cash, most ppl I know dont have that much cash for a car, if they did it would go to the down payment of a house. My monthly payment is 368, and with insurance and gas I am paying nearly 800/month!! (I'm in NYC) For a damn camry. You have got to be straight up rich to drive something really nice that you PAID for. The monthly payment is a breeze for me though, which to me makes me feel like I am living within my means. I hear of ppl who have a benz with a $700 car payment and that leaves them broke. Now thats just dumb, you need to live within your monthly budget. I still have plenty left over each month. And I can easily finance a benz or beemer, but then Id have to sacrifice my wardrobe, or going out, which I refuse to. Whats the point of having a nice car, if theres nowhere to go with it?
Just my 2 cents.
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The kind of car (and it's condition) can tell you a lot about it's owner, just as thier appearance or how they keep their home can. Such as whether they keep things neat and in good repair or not. Whether they are pragmantic or flamboyant. Whether they are screaming "notice me" or just getting around as inconspicously as possible. It is less accurate to try and predict income this way since many people will spend well beyond thier means to send out certain types of messages about thier image.Where to buy those old 80s car rear window stickers (orange horizontal stripes with car make)?
You should never make comparisons to what other people have or do relative to yourself. There will always be people who have more or bigger or faster than you and that's ok. As long as you have what suits you and is comfortable for you, why should you worry about what anyone else has? If you are not content with what you have because YOU want or need something else then see what you can do about changing what you have and getting something more in line with your desires. Not your neighbor's desires!
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Bill Gates drives a beat up Volvo station Wagon from the early 90's. The kind of car you drive is not necessarily the type of person you are. Generally speaking, yes if you see someone in a nice Mercedes, most likely that person has a decent job...I guess the biggest thing though is once you get that person out of their car, what type of person are they??More Questions & Answers ...
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