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The most expensive display of status that I see around my friends is having a new car. I have a 12 year old beautiful BMW that was created just after the design
by xiphias2 6y ago
The most expensive display of status that I see around my friends is having a new car. I have a 12 year old beautiful BMW that was created just after the design refresh. It's expensive to maintain, but far not as much as buying a new car. My friends are trying to pressure me to upgrade it to a newer one, but I see that just as money going out of the window that goes to compound investment right now.
Also in the US I listen to Dave Ramsey callers, and there are lots of people whose car is worth more than their whole net worth, which is totally unjustifiable in my view.
- bittercynic 6y agoFancy cars seem like an inefficient flex. It's so easy to get a huge loan for a car that you'd end up doing enormous economic damage to yourself to get a car half as good as the broke guy whose only financial goal is to have a fancy car. May as well drive an old corolla or prius and save your cash.