re: Buying an expensive vehicle

quote:

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The average self-made millionaire doesn't drive expensive vehicles. No one on TD.com hates nice vehicles. It's just that most here with sense see it as frivolous. The people you see driving $60K trucks, $100K luxury cars, and rocking Rolexes aren't as well off as they portray. The average watch of a self-made millionaire cost them $100. What you see by most people is all a house of cards living on credit and why most Americans live just 3 payroll checks away from bankruptcy.

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Stout, while I agree with most of what you posted I will say it's not necessarily crazy to think or out of the ordinary for someone well off(relative terms) to own a $60k truck. Some folks would rather enjoy that truck than a 2500+ sft house or vice versa, or can enjoy both. I see it all the time, usually with folks who have retired and are receiving a pension + disability or another source of income. I could afford a $60k truck right now and my quality of life would hardly change (assuming around a $700 payment). Would I ever do such a thing? Probably not because I want to enjoy other things in life over a truck, or put that money towards something else more beneficial. But if you paid a $450 car note, a $60k truck is a pay raise more.

Now a $240k car is ridiculous and something no ordinary person should every buy.