Originally Posted by TheRox
Seriously...I really don't think car ownership is an indication of wealth...especially in North America.
Its really not that hard to buy a new or used 100 K + car if you don't have to send kids to private school (grades 1-12), private college, don't have a ballin' house with thigh taxes. Or have gotten a divorce/never married, don't have health issues etc. So many variables can cause disposable income, even high income to vanish quickly or not.
Ie. In the amount it costs to send 1 kid to private college in the northeast, from your after tax income - you can buy a FErrari 458 Italia and have money left over for a 535xi.
In the amount it costs to send a kid to private school grades 1-12), you can buy a Ferrari 458 Italia.
Its all about priorities. And thats just one kid.
Having an expensive MSRP vehicle does not mean $$...it usually means the person has access to borrowing capacity, which isn't exactly hard these days. A Rolls probably does increase the likelihood that the person has some money, but in an apartment complex -- unless its a lavish condo unit (IE. 1 million + for a place) -- come on! But the style of residence has nothing to do with it - you can't just associate wealth with outward material purchases like a car, not these days. Not even a Rolls.
A car like that should be in one of the more upscale areas of Philly (Bryn Mawr or whatever it is, Chestnut Hill, places like that). But each person can do what they want -- at least until their debt is called in.
Its all personal - I honestly think that your kids be in a private school, you should be living in a decent area before you start looking at net consumption goods like 60K+ cars/vacay/clothing...but few obviously feel this way.
That is all.
I was just about to post something to a similar degree. You said it perfectly!
My parents have the same philosophy about how to spend money, and I'm glad I was brought up this way.