Saw an old lady getting out of a BMW X7 M60i (the high performance version). I asked her what made her choose the M60i and she just said “I dunno, the salesman said it was the best one they had”.
Saw an old lady getting out of a BMW X7 M60i (the high performance version). I asked her what made her choose the M60i and she just said “I dunno, the salesman said it was the best one they had”.
Not one that wasn’t given to them by a rich daddy or mommy.
I know many young people with expensive cars and not one was given to them. Not everyone can afford an expensive car but almost anyone can get one if they wish.
It’s technically possible, but an absolutely terrible idea. That mindset will keep them poor in the future. See: $100k truck parked next to trailer home, hemi charger on military base, Range Rover in the hood.
This is part of my broader point. Nothing in OP’s story suggests the old lady is actually flush with cash; she just has a bitchin’ car. She could be an idiot who signed on for 45% APR. Seeing someone with a nice car doesn’t mean they’re actually rich.
Define young. Define expensive.
16 year olds in a new custom Lambo? If you know more than one of those who “earned” the money for that, you’ve got an outrageously rare set of acquaintances - or a very distorted view of “earned.”
I bought a brand new Mazda Miata on credit my first week in my first job after University - was that given to me? Maybe the car wasn’t, but the education was.
Yep, never seen a young person buy something that they can’t really afford. Young folks are so wise, patient, and financially literate that it strains my imagination to even entertain the idea of one making poor purchasing decisions.
What doesn’t strain the imagination is banks making loans to foolish young people who are setting themselves up for decades of debt service.