Actually the wealthy people are very careful with money. I think that's how they become wealthy in the first place. And from the many posters here, there are those who could afford to buy a car just with their 1 year passive income!
Yes, they will buy cars because they can afford them and cars save them time as well as provide them with comfort, privacy and convenience when commuting.
In my condo, there are many families with 2 cars. At present we still have sufficient lots for everyone, but if people delay their retirement to 65, and their children join the workforce, I fear that soon there will be insufficient lots. Mind you, our condo is next to an
MRT station (2 min walk)!
So I really feel sorry for those who bought condos that have only 1 car lot for 1 apartment unit. They will not be able to get a second car park lot. Not only that, their visitors will have no where to park.
Quote:
Originally Posted by Unregistered
I'm sure your colleagues can afford to change to a brand new car as most of them would be earning more than $300k pa. If their wives also earn more than $300k pa, their household income would be more than $600k pa. So what is a $100k car? They can simply buy in cash just by using their combined bonus. They can actually change to a new model every year if they wish to. Cars are cheap relative to income of most professionals.
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