Is there a research to back your statement? I always thought that car purchases are highly rational, and even read some compelling research about it (cannot fin

Is there a research to back your statement? I always thought that car purchases are highly rational, and even read some compelling research about it (cannot find it right now). Yes, decision to buy particularly expensive car is very rational, with lot of time, choices and your personal preferences are of course part of it. Old cars do have their merits, and cost premium associated with them is real, economical fact. Very very little of price of car cannot be explained by market forces at work.