Quote:
Originally Posted by TrevorM3
Quote:
Originally Posted by Germanauto
I've found that a lot of truly wealthy people don't even drive very special cars because they understand that wealth doesn't come from investing in depreciating "assets" like cars.
Personally, I would do exactly that if I weren't such a car nut. Unfortunately I will likely lose tens of thousands of dollars in earnings due to my hobby. 
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wealthy people don't invest in cars. there is no "investing" in cars. rich people already know this... they buy, keep for 6 months, get a new one. |
I work with ultra high net worth (20M+ in investable assets) people and they barely spend more than 50-60k on a new car. They usually use it for 5+ years.
Most people flipping cars like that are the under 1-2M in assets who want to be perceived as ultra high net worth.