Why what car you drive matters

[K1 Lambo]

Are you understanding what that story is saying? It is saying that you are the customer.

In your example, the realtor showing up in the Ferrari is the guru. The guru is using his Ferrari to dupe you into thinking that if you buy his course, or in this case hire him as your real estate agent, that you will be rich and have a Ferrari one day. But in reality when you hire this real estate agent all you are doing is helping him get another Ferrari.

I didn't click the link but it made me spawn that story.

 

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[K1 Lambo]

To all the people ITT laughing about "not owning the supercar" or having it financed - most people I know with supercars have financed them, but that's for the same reason as why they still have mortgages - but could pay them off if they wanted to.

If say you're dumping £250K on an SVJ and you can put down £50K and borrow the £200K at 2% or 8%, but with that £200K you can get returns of 20% - it makes no sense to put all that money into a depreciating (for most cars, especially modern supercars due to their mass production) assets.

If you can make the payments on the car, you can afford it. If you enjoy using the car and driving it and you're into them and can afford it - then go for it. If you're buying it just for social status/credit, then it's probably a dumb idea.

Having a nice (and somewhat rare/exclusive) car definitely opens up doors and gives you opportunities. I've had people come up to me and start conversations when they've seen me pull up in my car and built long lasting connections and friendships because of it.

Besides, 99% of people with exotic supercars aren't using it as their daily. They will have something more normal like a bmw/audi/range rover/merc and then just use the exotic for social purposes.

If you're using a supercar as your daily with the sole purpose of attracting business, then I imagine it will only apply to certain businesses. E.g. if a plumber turns up in a tricked out Lambo I'd be confused. But if you're a youtuber who has a car vlogging channel, or if you're an onlyfans model or something - then I can 100% see how it would have a benefit.

That's something that people never talk about. Owning a car like that will make you more social and it will improve your social skills. People come up to you and ask you what you do and bam you made a business sale because of your car or a new relationship that can potentially change of your life. The car culture is wonderful too. You connect with people instantly.

I do know of some blokes who are very wealthy and they don't pay cash for all their cars. One guy in particular(he's worth about $200m) leases a couple of his Ferraris. He just leased his red $600k Ferrari SF90 Stradale. It's a gorgeous car though! There is also another guy in Poland who owns a 488 Pista, SVJ and a 2017 Ford GT(I think he bought/financed all of them in 2020, back when Corona hit and car prices plummeted to the ground). He's also leasing his daily, a Taycan turbo. His company does around $12m in sales.

By the way, Grant Cardone is also a big believer in financing/leasing cars. He says you should use most of that money into your business/real estate and let your properties pay for them. Aka from your cash flow.

Some cars will stay in value, but that's like the 0.1%. Limited edition Ferraris for instance keep their values. I think the same thing can be said for the SVJ. There's around 3 of them in my country but goddamn that car is insane!

 

[Antifragile]

If you can make the payments on the car, you can afford it.

I disagree.

Having a nice (and somewhat rare/exclusive) car definitely opens up doors and gives you opportunities. I've had people come up to me and start conversations when they've seen me pull up in my car and built long lasting connections and friendships because of it.

Please share some stories. I’ve built connections but never on a street. Even when I drove a 911 and had people (guys) start conversations with me.

But I imagine showing up to an exclusive meet up could build connections with like minded car fans. Outside of that, I’d like to hear your experiences.

 

[Antifragile]

Owning a car like that will make you more social and it will improve your social skills. People come up to you and ask you what you do and bam you made a business sale because of your car or a new relationship that can potentially change of your life.

I think you make things up. Maybe even saw stuff like this on a YT guru video? This is utter nonsense.

 

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[BizyDad]

I think you make things up. Maybe even saw stuff like this on a YT guru video? This is utter nonsense.

I haven't read most of the thread. But seeing this comment made me think of this...

If "getting a car to be more social" is your goal, buy a smart car.

My business partner has been driving one for the last 3 years. He paid like 5K for his, he's put 50k miles on it. He'll park it up in Scottsdale next to the Ferraris and the Lambos. When a 6 ft 4 dude gets out of a little smart car in those parking lots, people want to talk to him. At the Top Golf, the Walmart, at the gas station, everybody wants to chat about that car and how roomy it is on the inside and how you got to be careful in high winds. People want to go for a ride in his smart car. And he takes them.

He has met some big baller types who have lots of money. No they didn't become instant best friends. And yes, he has closed some website deals. Enough to pay for the car even...

I don't know if the car is actually smart, but my business partner is.

Of course, he is already a socially gifted. I don't know that buying this car would make anyone more social. An introvert is still going to be an introvert regardless of whether they're driving a smart car or a Lambo. It takes a long time for some people to develop social skills.

And none of this makes me want to own a stoopid smart car.

I'm just saying, as with most things in life, there's often a more cost effective way to do what you're trying to do.

 

[Black_Mamba_427]

I disagree.


Please share some stories. I’ve built connections but never on a street. Even when I drove a 911 and had people (guys) start conversations with me.

But I imagine showing up to an exclusive meet up could build connections with like minded car fans. Outside of that, I’d like to hear your experiences.

I've not sold business via my car, but then my business isn't something that I can sell from talking to someone if that makes sense? I got my details for my current accountant though from it, which has been a game changer for me.

I've made great friends and learned things about business and life from speaking to people from my car. I've also had guys at bars or restaurants comment on my watch (omega) because they had something similar. I was sat next to the owner of a massive UK online gambling company and ended up having a long chat with him about it actually. Nice guy.

I also had a 40ft sailing boat and joined the yacht club of marina it was at. Met a load of great friends/memories from there and learned again, a ton about business, taxes, investment funds, minimising inheritance tax and loads of other things. It seems that rich people love talking to other rich people about things they learn and they just share knowledge and help each other out.

I saw an online interview with this guy (can't remember his name) but he said he paid $5M for Bugatti and he has NO interest in cars. Hates them apparently. Doesn't like driving. But he said he bought it because he knew it would appreciate over time because of the exclusivity of it, but also because they have these annual or quarterly Bugati Owners meetups and road trips, lunches/dinners and charity galas and he thought it was worth paying the price for the foot in the door to network.

That's something that people never talk about. Owning a car like that will make you more social and it will improve your social skills. People come up to you and ask you what you do and bam you made a business sale because of your car or a new relationship that can potentially change of your life. The car culture is wonderful too. You connect with people instantly.

I do know of some blokes who are very wealthy and they don't pay cash for all their cars. One guy in particular(he's worth about $200m) leases a couple of his Ferraris. He just leased his red $600k Ferrari SF90 Stradale. It's a gorgeous car though! There is also another guy in Poland who owns a 488 Pista, SVJ and a 2017 Ford GT(I think he bought/financed all of them in 2020, back when Corona hit and car prices plummeted to the ground). He's also leasing his daily, a Taycan turbo. His company does around $12m in sales.

By the way, Grant Cardone is also a big believer in financing/leasing cars. He says you should use most of that money into your business/real estate and let your properties pay for them. Aka from your cash flow.

Some cars will stay in value, but that's like the 0.1%. Limited edition Ferraris for instance keep their values. I think the same thing can be said for the SVJ. There's around 3 of them in my country but goddamn that car is insane!

That's true. I've got a few friends who have sportscars for pleasure and we've met up for pub lunches and cruises etc. Completely agree with car culture too. The same goes for motorbikes too when I used to ride those. You could pull up to popular biker spots and instantly make friends and learn things.

I guess everyone has different preferences and reasons as to if they want to lease, finance or buy outright. Not sure about other countries tax laws, but in the UK you can buy cars and write them off nicely against your business profits if you have a creative accountant.

I don't really like GC, especially after Jordan Belfort absolutely roasted him on that podcast and tore apart his business model, but it does make sense. If you want to buy an SVJ outright, its £250K (for maths sake). If you financed the £200K, you could use that as deposits (25% minimum downpayment for BTL) for 4 x £250K houses.
UK house pricing typically goes up 10% (in recent years at least) so you'd make £100K/Yr just in capital growth and probably another £50-100K in rental income.

So if your car finance is 8% of £200,000, then it's costing around £16K - but you're making like £150-200K elsewhere (obviously not taking into account void tenant issues, taxes, expenses, letting agents and all the rest..) but even if its £50-100K/yr thats your car finance paid off in 2 years.

With regards to the cars holding their value the best or appreciating, with lamborghini at least it's always best to look at the manufacturing numbers. The SV models are most desirable and are normally limited run (1 of 600 compared to 1 of 12,500) for instance. Ferrari's have also recently taken on the mass production, which is why it can be better to go for the Speciale/Challenge models. Most of the classic cars weren't mass produced as I don't think financing was as common. I think Mclaren were the ones who changed that all (although i might be wrong)

Check out the SVJ with the Gintani exhaust. It sounds like an F1 car. That's what I want to get after I move house next year!!

 

[Antifragile]

I saw an online interview with this guy (can't remember his name) but he said he paid $5M for Bugatti and he has NO interest in cars. Hates them apparently. Doesn't like driving. But he said he bought it because he knew it would appreciate over time because of the exclusivity of it, but also because they have these annual or quarterly Bugati Owners meetups and road trips, lunches/dinners and charity galas and he thought it was worth paying the price for the foot in the door to network.

It’s wrong of me to judge, to each their own. So I’ll just say that my brain is wired differently. If I hated driving, I wouldn’t buy a car just to join someone for a meet up and road trips. The whole point of me being wealthy is freedom. This freedom is from doing shit I don’t want to do.

But I get the “foot in the door” concept. Same with fancy country clubs, galas etc. I get it.

To each their own. I’ve lost internet in watches and sports cars. Still own too many of those watches (Omega being the cheapest lol), but choose to wear my garmin running watch 9/10 times. Maybe different stage of life … maybe I’ve stopped giving a shit of how others see me. Who knows.

What’s your business? What do you do? And what do you currently drive?

 

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[K1 Lambo]

I think you make things up. Maybe even saw stuff like this on a YT guru video? This is utter nonsense.

His name is Runar Vatne. One of the best investors in Oslo.

The other guy is who's leasing his Taycan is Szymon Banas. He owns one of the largest aluminium companies in Poland.

 

[K1 Lambo]

I haven't read most of the thread. But seeing this comment made me think of this...

If "getting a car to be more social" is your goal, buy a smart car.

My business partner has been driving one for the last 3 years. He paid like 5K for his, he's put 50k miles on it. He'll park it up in Scottsdale next to the Ferraris and the Lambos. When a 6 ft 4 dude gets out of a little smart car in those parking lots, people want to talk to him. At the Top Golf, the Walmart, at the gas station, everybody wants to chat about that car and how roomy it is on the inside and how you got to be careful in high winds. People want to go for a ride in his smart car. And he takes them.

He has met some big baller types who have lots of money. No they didn't become instant best friends. And yes, he has closed some website deals. Enough to pay for the car even...

I don't know if the car is actually smart, but my business partner is.

Of course, he is already a socially gifted. I don't know that buying this car would make anyone more social. An introvert is still going to be an introvert regardless of whether they're driving a smart car or a Lambo. It takes a long time for some people to develop social skills.

And none of this makes me want to own a stoopid smart car.

I'm just saying, as with most things in life, there's often a more cost effective way to do what you're trying to do.

Did you see when Shaq was driving in a smart car around NYC?

 

[K1 Lambo]

I've not sold business via my car, but then my business isn't something that I can sell from talking to someone if that makes sense? I got my details for my current accountant though from it, which has been a game changer for me.

I've made great friends and learned things about business and life from speaking to people from my car. I've also had guys at bars or restaurants comment on my watch (omega) because they had something similar. I was sat next to the owner of a massive UK online gambling company and ended up having a long chat with him about it actually. Nice guy.

I also had a 40ft sailing boat and joined the yacht club of marina it was at. Met a load of great friends/memories from there and learned again, a ton about business, taxes, investment funds, minimising inheritance tax and loads of other things. It seems that rich people love talking to other rich people about things they learn and they just share knowledge and help each other out.

I saw an online interview with this guy (can't remember his name) but he said he paid $5M for Bugatti and he has NO interest in cars. Hates them apparently. Doesn't like driving. But he said he bought it because he knew it would appreciate over time because of the exclusivity of it, but also because they have these annual or quarterly Bugati Owners meetups and road trips, lunches/dinners and charity galas and he thought it was worth paying the price for the foot in the door to network.


That's true. I've got a few friends who have sportscars for pleasure and we've met up for pub lunches and cruises etc. Completely agree with car culture too. The same goes for motorbikes too when I used to ride those. You could pull up to popular biker spots and instantly make friends and learn things.

I guess everyone has different preferences and reasons as to if they want to lease, finance or buy outright. Not sure about other countries tax laws, but in the UK you can buy cars and write them off nicely against your business profits if you have a creative accountant.

I don't really like GC, especially after Jordan Belfort absolutely roasted him on that podcast and tore apart his business model, but it does make sense. If you want to buy an SVJ outright, its £250K (for maths sake). If you financed the £200K, you could use that as deposits (25% minimum downpayment for BTL) for 4 x £250K houses.
UK house pricing typically goes up 10% (in recent years at least) so you'd make £100K/Yr just in capital growth and probably another £50-100K in rental income.

So if your car finance is 8% of £200,000, then it's costing around £16K - but you're making like £150-200K elsewhere (obviously not taking into account void tenant issues, taxes, expenses, letting agents and all the rest..) but even if its £50-100K/yr thats your car finance paid off in 2 years.

With regards to the cars holding their value the best or appreciating, with lamborghini at least it's always best to look at the manufacturing numbers. The SV models are most desirable and are normally limited run (1 of 600 compared to 1 of 12,500) for instance. Ferrari's have also recently taken on the mass production, which is why it can be better to go for the Speciale/Challenge models. Most of the classic cars weren't mass produced as I don't think financing was as common. I think Mclaren were the ones who changed that all (although i might be wrong)

Check out the SVJ with the Gintani exhaust. It sounds like an F1 car. That's what I want to get after I move house next year!!

You go brother. Keep it up .

That Bugatti circle is the craziest thing I've heard. Probably a bunch of billionaires reside in it!

 

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[Black_Mamba_427]

It’s wrong of me to judge, to each their own. So I’ll just say that my brain is wired differently. If I hated driving, I wouldn’t buy a car just to join someone for a meet up and road trips. The whole point of me being wealthy is freedom. This freedom is from doing shit I don’t want to do.

But I get the “foot in the door” concept. Same with fancy country clubs, galas etc. I get it.

To each their own. I’ve lost internet in watches and sports cars. Still own too many of those watches (Omega being the cheapest lol), but choose to wear my garmin running watch 9/10 times. Maybe different stage of life … maybe I’ve stopped giving a shit of how others see me. Who knows.

What’s your business? What do you do? And what do you currently drive?

Ha no, I completely agree with you. It's really dumb and expensive. There are pro's to owning nice cars and driving them (if you like it) but if you don't like it, I'd never recommend someone to do that. I don't think that a car should ever be a burden to you. If you're making like £25K/month though and you want to buy a £200K car that costs £1500/month on finance that you only plan on having for a year or two, that's not so bad though is it? Each to their own. I know people who live at home still and spend 80% of their after tax pay cheque on car insurance/finance/maintenance - which is just ridiculous to me.

I've lost interest in watches too. Used to be interested in it, but you read way too many stories in the newspapers about people getting knives held to them in London etc just to steal it. I rarely wear mine anymore to be honest. I like the idea of an apple watch or something though, seems more practical from the fitness pov.

The business is a difficult one to explain. Essentially a non-nude niche fetish content creator though. I also started up an underwear company last Summer and have been selling them all around the world too - which was a fun learning process. I got into it a few years back when I initially had a Fitness / Workout based YouTube channel and it sort of evolved from there. It works well from a "divorcing yourself from time" perspective though. I charge ~£1K/Hr, so if someone wants a 10 minute video it's around £150 (Give it take depending on whats involved+editing etc.) and then resell it on Gumroad for like $25. So the gumroad store is the business asset which has hundreds of videos for sale covering a massive variety of things and then it's essentially just about me marketing that platform (Although I sell on about 8 different video websites). Also do live chats on skype (which are essentially just chatting with friends now) and some stuff like twitch streaming. I could write a lot more about it, but don't want to bore everyone and also appreciate that it's not for everyone and some people have reservations about it and so forth.

My current daily is a BMW estate which is comfortable and handy for long trips and reliable and a ton of space, although I need to get a replacement for it soon as it's now on 160K miles(!). The sports car I've got is an AC Cobra replica that was built in 2006 and has a really unusual paintjob. It's like a dark green (almost black) but in the sunlight it has sparkly purple,green,copper,blues etc. It was always my dream car as a kid and when I started up my business in 2017, I bought it with my first months' earnings So it has a lot of sentimental value (although saying that, It is currently up for sale haha!) Using it to put towards the deposit when I move house next year and I decided that I want to get a non-replica car and preferably something a bit more reliable. Really like Ferrari 355s, GT3RS, Aventador SV/SVJ and Ferrari 458. Not sure what or when I'll get something though.

edit: Not trying to make out the cobra is really expensive or anything, but I bought it 5 years ago when I was 24/25, so I imagine it's more of a novelty to see a 'youngster' driving an old classic. Lots of the old boys love it and I get so many people asking if its a real one from the 1960s (which I find odd, as they are like $3-5M lol)

 

[K1 Lambo]

Ha no, I completely agree with you. It's really dumb and expensive. There are pro's to owning nice cars and driving them (if you like it) but if you don't like it, I'd never recommend someone to do that. I don't think that a car should ever be a burden to you. If you're making like £25K/month though and you want to buy a £200K car that costs £1500/month on finance that you only plan on having for a year or two, that's not so bad though is it? Each to their own. I know people who live at home still and spend 80% of their after tax pay cheque on car insurance/finance/maintenance - which is just ridiculous to me.

I've lost interest in watches too. Used to be interested in it, but you read way too many stories in the newspapers about people getting knives held to them in London etc just to steal it. I rarely wear mine anymore to be honest. I like the idea of an apple watch or something though, seems more practical from the fitness pov.

The business is a difficult one to explain. Essentially a non-nude niche fetish content creator though. I also started up an underwear company last Summer and have been selling them all around the world too - which was a fun learning process. I got into it a few years back when I initially had a Fitness / Workout based YouTube channel and it sort of evolved from there. It works well from a "divorcing yourself from time" perspective though. I charge ~£1K/Hr, so if someone wants a 10 minute video it's around £150 (Give it take depending on whats involved+editing etc.) and then resell it on Gumroad for like $25. So the gumroad store is the business asset which has hundreds of videos for sale covering a massive variety of things and then it's essentially just about me marketing that platform (Although I sell on about 8 different video websites). Also do live chats on skype (which are essentially just chatting with friends now) and some stuff like twitch streaming. I could write a lot more about it, but don't want to bore everyone and also appreciate that it's not for everyone and some people have reservations about it and so forth.

My current daily is a BMW estate which is comfortable and handy for long trips and reliable and a ton of space, although I need to get a replacement for it soon as it's now on 160K miles(!). The sports car I've got is an AC Cobra replica that was built in 2006 and has a really unusual paintjob. It's like a dark green (almost black) but in the sunlight it has sparkly purple,green,copper,blues etc. It was always my dream car as a kid and when I started up my business in 2017, I bought it with my first months' earnings So it has a lot of sentimental value (although saying that, It is currently up for sale haha!) Using it to put towards the deposit when I move house next year and I decided that I want to get a non-replica car and preferably something a bit more reliable. Really like Ferrari 355s, GT3RS, Aventador SV/SVJ and Ferrari 458. Not sure what or when I'll get something though.

edit: Not trying to make out the cobra is really expensive or anything, but I bought it 5 years ago when I was 24/25, so I imagine it's more of a novelty to see a 'youngster' driving an old classic. Lots of the old boys love it and I get so many people asking if its a real one from the 1960s (which I find odd, as they are like $3-5M lol)

Great stuff man. You understand the ins and outs of the exotic car world. Most people on this forum have no idea how this exotic car world works. They automatically make bad assumptions about the owner because they want to be the "contrarians" if you know what I mean.

It's just like the sports culture. If you're into football/basketball and you meet someone who's a fan, you automatically connect with them.

458s are great value for the money. The naturally aspirated V8 makes an amazing sound. One of the best cars for $200k that are out there.

As far as the Aventador, it's probably the best car under $500k that has that hypercar wow in it. It's not a hypercar like a Bugatti Chiron, Ferrari LaFerrari or Porsche 918 Spyder, but it feels like one. You park one on a sunday afternoon and you'll have a crowd after 3-5 minutes around the car. It's a mesmerizing machine! And the sound.... Like a devil being ressurected from hell!

 

[Two Dog]

All depends on your lifestyle. I live in Colorado and have an old Land Rover that's loves dirt roads, wilderness travel and dogs. It can tow anything and is pretty much indestructible. WTF would I possibly do with a $200K supercar with 2" of ground clearance besides trailer it behind the LR or throw it into a ditch any time it snows?

 

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[K1 Lambo]

All depends on your lifestyle. I live in Colorado and have an old Land Rover that's loves dirt roads, wilderness travel and dogs. It can tow anything and is pretty much indestructible. WTF would I possibly do with a $200K supercar with 2" of ground clearance besides trailer it behind the LR or throw it into a ditch any time it snows?

Maybe it's an european thing to do this. I feel like Americans don't show off as much as they do in Europe, probably because they've been the epitome of success for the last 80-100 years. Of course there are exceptions, you go to LA, Miami or Southern California and you'll see them very often.

 

[datagod]

I live in one of balkan regions. (Europe) Small country and there are so many people bragging with 30-60k$ cars that's it's funny and they have like minimum salary eg. from 800$ - 1500$

And they rather starve just to get some shitty car, that they overpaid. It's kind of sad how materialistic some are, I rather F*cking go with a bike, then show off with a car that i can't afford.

Enjoy life, cars are worst investment that you can do, just wait till gas will go up (again)

 

[Damien C]

The only millionaire I know does not even own a car.

Ha. Exactly right. Cars are like corner offices, an old status symbol representing success.

If you truly love nice cars, go for it power to you. But a lot of people don't, they buy them for image only. Myself personally, I would prefer to get driven around everywhere door to door - and do, and I am not even outrageously wealthy.

 

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[Black_Mamba_427]

Ha. Exactly right. Cars are like corner offices, an old status symbol representing success.

If you truly love nice cars, go for it power to you. But a lot of people don't, they buy them for image only. Myself personally, I would prefer to get driven around everywhere door to door - and do, and I am not even outrageously wealthy.

I guess it depends where you live too. If I lived in a city I wouldn't bother owning any car at all. And people who buy cars purely for status are stupid imo. If you're buying a car to pull girls, you'd be way better off with a puppy too.

I live in one of balkan regions. (Europe) Small country and there are so many people bragging with 30-60k$ cars that's it's funny and they have like minimum salary eg. from 800$ - 1500$

And they rather starve just to get some shitty car, that they overpaid. It's kind of sad how materialistic some are, I rather f*cking go with a bike, then show off with a car that i can't afford.

Enjoy life, cars are worst investment that you can do, just wait till gas will go up (again)

If you were making $10M / year though, would you still think cars are stupid and say they're materialistic? Or would you be buying a nice new car?

I don't think anyone who's buying a supercar or exotic is worried about the price of fuel either.

I remember showing my mum this nice house for sale near me. It was £5.5M and the first thing she said was "oh can you imagine how much the gardeners would cost to look after a place like that?" As if whoever can afford to pay £5.5M can't afford to pay a gardener £20/hour? It reminds me a bit like that.

When someone is driving around in a £200-400K+ Car, they have a completely different mindset to the average joe and that is why they have the ability to buy something as expensive as that. It almost sounds like a self limiting belief that you don't deserve something nice, because it's expensive or the cost of depreciation is too much to handle - whereas if you shifted your mindset to have an abudance of wealth, you wouldn't give AF about it.

Like the people who own luxury yachts and private jets. They don't complain about fuel prices or depreciation, because they're so busy stacking cash left, right and centre to worry about that.

 

[datagod]

I guess it depends where you live too. If I lived in a city I wouldn't bother owning any car at all. And people who buy cars purely for status are stupid imo. If you're buying a car to pull girls, you'd be way better off with a puppy too.



If you were making $10M / year though, would you still think cars are stupid and say they're materialistic? Or would you be buying a nice new car?

I don't think anyone who's buying a supercar or exotic is worried about the price of fuel either.

I remember showing my mum this nice house for sale near me. It was £5.5M and the first thing she said was "oh can you imagine how much the gardeners would cost to look after a place like that?" As if whoever can afford to pay £5.5M can't afford to pay a gardener £20/hour? It reminds me a bit like that.

When someone is driving around in a £200-400K+ Car, they have a completely different mindset to the average joe and that is why they have the ability to buy something as expensive as that. It almost sounds like a self limiting belief that you don't deserve something nice, because it's expensive or the cost of depreciation is too much to handle - whereas if you shifted your mindset to have an abudance of wealth, you wouldn't give AF about it.

Like the people who own luxury yachts and private jets. They don't complain about fuel prices or depreciation, because they're so busy stacking cash left, right and centre to worry about that.

I was talking about people who make an average salary or under that, yet they buy car they can't afford.

And no, I think a lot don't buy a car for 200k$+ because they still think it's a showing off, even if they are millionares. The thing is what do you think it's better to have. If i would be millionare I would set my priorities not on a car as I see it only to get to point A to B.

I still think that mindset is from youtubers bragging about luxury cars, just to get extra views. I've met a millionare and he was driving 10 years old car, he loved it. More story to a 10 year old car then all this new "luxury" cars.

 

[K1 Lambo]

Ha. Exactly right. Cars are like corner offices, an old status symbol representing success.

If you truly love nice cars, go for it power to you. But a lot of people don't, they buy them for image only. Myself personally, I would prefer to get driven around everywhere door to door - and do, and I am not even outrageously wealthy.

It also depends where you live too. If you live in NYC, it'd be hard for you to drive everyday since the roads are so crowded, any many wealthy people would rather just walk, take the cab or ride the sub.

 

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[K1 Lambo]

I guess it depends where you live too. If I lived in a city I wouldn't bother owning any car at all. And people who buy cars purely for status are stupid imo. If you're buying a car to pull girls, you'd be way better off with a puppy too.



If you were making $10M / year though, would you still think cars are stupid and say they're materialistic? Or would you be buying a nice new car?

I don't think anyone who's buying a supercar or exotic is worried about the price of fuel either.

I remember showing my mum this nice house for sale near me. It was £5.5M and the first thing she said was "oh can you imagine how much the gardeners would cost to look after a place like that?" As if whoever can afford to pay £5.5M can't afford to pay a gardener £20/hour? It reminds me a bit like that.

When someone is driving around in a £200-400K+ Car, they have a completely different mindset to the average joe and that is why they have the ability to buy something as expensive as that. It almost sounds like a self limiting belief that you don't deserve something nice, because it's expensive or the cost of depreciation is too much to handle - whereas if you shifted your mindset to have an abudance of wealth, you wouldn't give AF about it.

Like the people who own luxury yachts and private jets. They don't complain about fuel prices or depreciation, because they're so busy stacking cash left, right and centre to worry about that.

Exactly. Most people who actually own exotic cars(not fake own them like a lot of people online) can actually pay for them and it's nothing to them. Imagine if you're cashing a $40m check this year in personal income and your company just made $400m this year, do you think buying a $1m Bugatti Veyron would be a huge deal to you? Hell no. Even if you finance it with 30% down payment, you're still only spending $300,000 plus the fees out of $40m(let's say it's $20-22m after taxes and all of that), it's still less than 3% of your actual income.

It's all relative to your current success. A woman who works at Walmart for $14 hour and has a $30,000 a year salary before taxes, she's going to have the perception that a $60,00 Mercedes-Benz S350 is incredibly expensive. Whereas if a guy makes $10m a year, a $100,000 AMG is nothing for him. It's all relative to your current financial success. I heard this one great quote somewhere: "Nothing is expensive, you're just not making enough money!".

Funny enough, I remember hearing one of Andy Frisella's episodes on MFCEO(one of his older episodes) where he talked about the guys who were ramping his DMs, and made him feel guilty for spending $500,000 on a Lamborghini Aventador SV roadster. And he made this comment: "It's funny when they say that, because they probably drive their shitty hondas , live in their mom's basement and make less than 40 grand a year in their shitty jobs". Notice that comments like these never come from people who've actually achieved it. You'll never hear a guy who owns multiple exotic cars or who lives that lifestyle say to you that you should never buy them. It only comes from people who are below that guy/girl's level or people who haven't achieved it who'll tell you that you shouldn't do it, and frankly that's 99.999% of society.

There's also this incredibly wealthy private equity investor in my town(his net worth is about $500m), he owns like 30+ exotic cars. He's the only owner of a Bugatti Veyron that's registered on Norwegian roads, which is a feat in itself! He just ordered his new Ferrari SP1 Monza. That guy is a huge inspiration! He's showing people what's possible.

EDIT: The average net worth of a bugatti owner is about $200m. That's like 0.0003% of society. I doubt there's anyone on this forum with that net worth.

 

[biophase]

If you were making $10M / year though, would you still think cars are stupid and say they're materialistic? Or would you be buying a nice new car?

When someone is driving around in a £200-400K+ Car, they have a completely different mindset to the average joe and that is why they have the ability to buy something as expensive as that. It almost sounds like a self limiting belief that you don't deserve something nice, because it's expensive or the cost of depreciation is too much to handle

I think what's interesting here is that people often think that wealthy people expensive cars as a way to show off. But what I can tell you is that people either like certain things or they don't. And whatever they seem to like, they spend more money on. But they are not buying them because they don't like them and simply want status. There really is no need for someone who has $10M to show off what they have.

I mean if you have $10M, does your $2M home mean you are showing off? A $100k car is 1% of your net worth. A $50k watch is 0.5%. A fancy designer purse is 0.05%. These things become somewhat meaningless in terms of financial decisions. The person buying these things is not thinking, if I get this XXX, everyone will think I'm even more of a baller.

They are just buying what they want, and these things just happen to be expensive to an average person.

 

[K1 Lambo]

I think what's interesting here is that people often think that wealthy people expensive cars as a way to show off. But what I can tell you is that people either like certain things or they don't. And whatever they seem to like, they spend more money on. But they are not buying them because they don't like them and simply want status. There really is no need for someone who has $10M to show off what they have.

I mean if you have $10M, does your $2M home mean you are showing off? A $100k car is 1% of your net worth. A $50k watch is 0.5%. A fancy designer purse is 0.05%. These things become somewhat meaningless in terms of financial decisions. The person buying these things is not thinking, if I get this XXX, everyone will think I'm even more of a baller.

They are just buying what they want, and these things just happen to be expensive to an average person.

Yeah, it totally depends on the person. And I have found though that most people who are very wealthy will drive something nicer, they're not gonna drive a beat up Opel Astra or a VW Passat. It's always an S-Class, BMW 7 series or a Rolls Royce or something of that nature. No one buys a Lambo or a Ferrari if they're not a car guy/girl.

 

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[JasonR]

I see them every day whenever it isn't snowing.

One acre of vacant land in my town costs $1,000,000, so I doubt they're parking their Lambo at their one-bedroom apartment.

You know what’s funny? This was on my mind…I just ordered a Huracan, and am renting a one bedroom apartment as the last 5 offers I made on houses (above asking) all got beat. I may sit this housing cycle out. I do own a vacation home, but am not parking it up there.

I’ve got a year to find a place before the car actually gets built!

 

[JasonR]

They are just buying what they want, and these things just happen to be expensive to an average person.

This is so true, and wasn’t something I realized until a few years ago.

Bio doesn’t give a shit about watches, and probably doesn’t understand why I like them. But we both sure as shit pour more money into mountain bikes than what some cars cost.

 

[K1 Lambo]

This is so true, and wasn’t something I realized until a few years ago.

Bio doesn’t give a shit about watches, and probably doesn’t understand why I like them. But we both sure as shit pour more money into mountain bikes than what some cars cost.

Exactly. It's a personal thing. Just like some guys in New York or London won't understand the car culture since they don't drive anywhere.

 

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[K1 Lambo]

You know what’s funny? This was on my mind…I just ordered a Huracan, and am renting a one bedroom apartment as the last 5 offers I made on houses (above asking) all got beat. I may sit this housing cycle out. I do own a vacation home, but am not parking it up there.

I’ve got a year to find a place before the car actually gets built!

What type of Huracan have you ordered? Is it the STO version?

 

[JasonR]

What type of Huracan have you ordered? Is it the STO version?

Huracan EVO RWD

 

[Derich S]

Ok, this is an interesting topic that I'd like to share with you fellas, and would love to get your thoughts(or personal experiences) with this.

Here's a video of Brad Lea who discusses a matter from Warren Buffet, who said that what you drive doesn't matter.

Warren Buffet does have a point though. He's known worldwide as the "investing god/god of compound interest" and is worth like $80 billion dollars so it's sort of irrelevant for him at 90 years old. But for us who are below his level or are grinding to become very successful, what you drive will matter(it does great things to your confidence too). Especially if you're a business consultant or a real estate agent and you attend physical meetings frequently, then it matters even more.

Look at it from your perspective. You're selling a house, and two real estate agents pull up who are equally skilled and have equal intelligence in their craft. One pulls up in a beat up dirty Opel Astra while the other guy pulls up in a sexy red Ferrari 488 GTB. And you're the decision maker. Who are you going to pick to do business with? And who would most people pick? I'll pick the Ferrari guy over the former all day, and 9/10 people will probably do the same.

Why?
The Ferrari sends a signal to our brain(consciously or subconsciously) that THAT GUY knows what he's doing, and is probably very successful at his craft so he's more qualified. It shows credibility, status, and success all together. And that car sends a message that success is possible for you too(especially if you're a car guy). Many young kids or guys get crazy when they see one in person. If you've ever driven one or own one, then you know exactly what I'm talking about. There ain't nothing better than waking up and seeing a car like that in your garage.

Don't believe me? Watch these experiments by YouTube pranksters who pick up girls in supercars. They never get rejected by these random girls. You may call them gold diggers or what have you but most people would have done the same thing.

Ultimately a car SHOULD never define who you are, it's just icing on the cake after years of hard work. WHO you are as a person and WHAT you think of yourself is the most important thing, what anybody else thinks of you shouldn't f*cking matter to you. And if a badass automobile will help you with increasing your success, then go for it. Just make sure you can afford it

Well, this is really interesting and thank you for sharing. For me personally, I think I would listen to both from first and pick the one who I think is most knowledgeable, knows what they are doing and is able bring results, I really do not care much about material possessions and I pay way too much attention on the details especially when it comes to doing business and numbers. So if it happens that the Opel guy is the winner then I'd give advice, cause they say that first impressions always last you know

 

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[K1 Lambo]

Well, this is really interesting and thank you for sharing. For me personally, I think I would listen to both from first and pick the one who I think is most knowledgeable, knows what they are doing and is able bring results, I really do not care much about material possessions and I pay way too much attention on the details especially when it comes to doing business and numbers. So if it happens that the Opel guy is the winner then I'd give advice, cause they say that first impressions always last you know

For sure. We're assuming that both guys are equally as qualified here. Of course just like Brad said in the video; If you're faking it or you're a douchebag and the Opel guy happens to be a very cool dude and is genuinely interested in helping you, then you'd pick the Opel guy.

 

[K1 Lambo]

Huracan EVO RWD

Congratulations man. I can't wait till I get my Aventador SVJ. Lamborghinis are always different. They're so weird since they're unpractical as hell but there's just something about them when you're the driver! Makes you feel like you're luckiest person to be alive.