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JGC purchased by richest 1%? Oh great!

4K views 27 replies 11 participants last post by  bill_de 
#1 · (Edited)
We bought our WK2 thinking it wouldn't give an impression of being snooty or elitist. Now this!! Lol, Guess we'll just have to live with all of the neighborhood gossip :))
 
#3 ·
Oh this is all tongue in cheek :) Nobody has said anything! My wife is a Realtor and wanted to strike that balance of projecting success, but maybe not BMW or Cadillac success!!
 
#6 ·
Business use = tax deduction
I know you still have to pay the bill, but every little bit helps. My wife hauls clients around in her business, and the mileage helps at tax time. :D
 
#7 ·
No doubt. My wife and I are both 1099 so we write both vehicles off...but if she's writing off mileage she can't also write off fuel costs. If she's taking the actual expense method then she can write off the fuel cost.

Its still a significantly more expensive vehicle to drive in that scenario. But...you only live once! :thumbsup:
 
#10 ·
It sure will not attract the unwanted attention an Escalade would in some of the areas we go in southern California.

Most of us who are millionaires are self-made and not show-offs, as Stanley and Danko documented so well in the wonderful to read The Millionaire Next Door. I drive far more than average, so more quiet, comfort, and so forth, especially as I age into my late 50s, was worth spending a bit more. Still, the Jeep cost a tiny fraction of our net worth, so not an extravagant purchase. Spending $25,000 more for an equivalent M-Class would have been wasteful.

This top 1% stuff is really just some silly political campaign baloney with no practical value.
 
#13 · (Edited)
Most of us who are millionaires are self-made and not show-offs, as Stanley and Danko documented so well in the wonderful to read The Millionaire Next Door. I drive far more than average, so more quiet, comfort, and so forth, especially as I age into my late 50s, was worth spending a bit more. Still, the Jeep cost a tiny fraction of our net worth, so not an extravagant purchase. Spending $25,000 more for an equivalent M-Class would have been wasteful.
Operation don't be a show-off has failed ;)
 
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#11 ·
That, and the fact that a million bucks just ain't what it used to be!
 
#14 ·
^x2. Buy what you like, like what you drive, who cares. My issue is folks that go the other way, buy a vehicle you can't afford to have people think you have money. How absurd.
 
#15 ·
JeeperJohn;923629 My issue is folks that go the other way said:
Indeed - they are the show-offs.

I typed my earlier posting between working on some onerous proposal for a government contract we are bidding, so did not type everything I wanted.

It is interesting how we all like to think we are unique, yet we are not. The Millionaire Next Door and his subsequent books indicate that millionaires prefer Seiko watches. I bought one in college (broke then, on an almost full scholarship) and one more several years ago. Most do not show off by buying what they can't afford or "status" names. They live in middle class neighborhoods, and so forth.

I'm a not surprised that Jeep is not, to my knowledge, running ads on the fact that a Grand Cherokee is $25,000 less than a similar M-Class, and so forth, as I understand that those who want to pay $25,000 more for the name badge would not be swayed by such advertising.

For real estate agents, I'd think it would impress clients that they bought a Jeep and not an expensive brand.

Long ago, I was a software expert and then software salesman. After I left that when the company I liked first as a customer and then an employee was taken over by one I did not at all like, I spoke with some of the people I knew. They told me that the brother of the head guy had berated the sales people because they all drove BMWs and such, as he drove a VW beetle to work. They then added that he had failed to mention that in addition to the Beetle, he owned a warehouse full of exotic cars!
 
#16 ·
My problem with books like "The Millionaire Next door" are that they preach one way of looking at things and doing things. While its true that many "millionaires" don't live lavish lifestyles or spend on luxury items, but many do. I know many wealthy people and some are as you describe, and some are not. I think the difference just might be between those who save their way to a million, and those who earn their way to a million.

Seiko watches tell time, but they have none of the precision, quality, or timelessness of a fine luxury watch. Some people derive a great deal of enjoyment out of such things. I'm not someone who would ever buy a $20,000 Rolex, but I have a couple of nice watches that I own and enjoy. Life is about enjoyment. I get a lot of enjoyment out of my cars, and I spend on them. Some people its watches, some people its a boat. Some people its vacations or their home. Whats the point in working hard and achieving in life if you continue to deny yourself what you enjoy simply to let money pile up in a bank account?

For real estate agents, I'd think it would impress clients that they bought a Jeep and not an expensive brand.
It depends on your clientele. I see agents driving just ridiculous cars, I met an agent at a walkthrough that pulled up in a Bentley Continental GT. Thats just an ignorant car to drive when you're in sales, we have enough problems with people thinking we're overpaid. But, a nice conservative Lexus, BMW, Mercedes, Cadillac serves our profession very well, it offers a cache that works in the upper brackets, and it doesn't offend people in lower brackets. You want to look successful, because people like to do business with successful people, but you don't want to look a great deal more successful than your customers.

If you're out showing upper bracket stuff (in my area I would call $1.25M+ truly upper bracket, $500-$1.25M is mid-market, $500k- is lower end) I can tell you that some of these people would be put off by the Jeep. I have a very good friend who had a client tell her to park her "nasty car" down the street so as not to have it in her driveway. Her nasty car was a loaded 2 year old Toyota Avalon. She traded it on a Lexus ES, basically the same car and similar money, and never had any problems. These things do happen.
 
#18 ·
No doubt...doesn't negate the humor of a post that says "Those of us that are millionaires don't like to show off" on an internet forum.
 
#23 ·
Actually for some reason it was the cheapest to insure compared to competitive vechicles including the new smaller cherokee.

I have a great company and a clean driving record and it was a additional 253 every 6 months for full coverage for my 2014.

Many competitive vehicles were 300 and the new cherokee was 339 for 6 months. I was shocked that a 35k vehcicle cost more to i sure than its big brother that cost 10k or so more.

my numbers were based on adding the new vehicle to a existing policy with one vehicle.

Just a interesting twist on the cost issue for this vehicle.
 
#25 ·
Who knows why. Its almost impossible to figure out why certain vehicles are priced they way they are.

Our insurance for the Jeep is a little less than the Lexus I think, but only slightly.
 
#27 ·
Well with most cars an accident is going on in front of you. With a GC it is probably happening under you.

It is also an exceptionally strong vehicle. When I was rearended by a F*rd 150 at speed, my damage was all cosmetic and the liftgate operated and sealed properly. The F*rd's whole front end was caved in, both airbags deployed, and it had to be towed away. I drove home. (may be partly due to the towing package taking much of the impact).
 
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