Author Topic: Reddit personalfinance strikes again...  (Read 16258 times)


clifp

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Re: Reddit personalfinance strikes again...
« Reply #1 on: April 14, 2015, 12:12:46 AM »
OMG that was just too painful to read. A 64K car at age 18... argh.

On the other hand back in the 80s, my roommate as 25 year old making good money in Silicon Valley bought a used Ferrari 308.  In hindsight was pretty foolish (I bought a new RX-7, and my house co-owner bought a new Toyota Supra)  so he wasn't alone.  But the really entertaining thing was he bought the Ferrari from an 18 year kid, who was on his second Ferrari (and as best we can tell mom and dad bought the 308 when kid was 16.)..

boarder42

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Re: Reddit personalfinance strikes again...
« Reply #2 on: April 14, 2015, 08:57:40 AM »
how is buying a 64k car a personal finance desision.  this should be in a "spend money like a moron" perspective. man do we need to teach Personal Finance in schools.

slugline

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Re: Reddit personalfinance strikes again...
« Reply #3 on: April 14, 2015, 09:05:45 AM »
The parents must really like having that kid live at home with them.

MgoSam

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Re: Reddit personalfinance strikes again...
« Reply #4 on: April 14, 2015, 09:07:26 AM »
I do enjoy that plenty of people are pushing back at him.

thurston howell iv

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Re: Reddit personalfinance strikes again...
« Reply #5 on: April 14, 2015, 09:12:26 AM »
My non-driving 20 year old nephew mentioned the same exact thing. He literally just got his license and told me that he was going to be buying a hellcat as well.  Maybe there's something in the water.

r3dt4rget

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Re: Reddit personalfinance strikes again...
« Reply #6 on: April 14, 2015, 09:10:26 PM »
Clearly a fake troll post. No 18 yo that is smart enough to earn $1k/week take home is stupid enough to buy a car that expensive.

Hey It's Me

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Re: Reddit personalfinance strikes again...
« Reply #7 on: April 14, 2015, 09:29:37 PM »
I recommended he buy it. What's that saying about a fool and his money?

Indexer

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Re: Reddit personalfinance strikes again...
« Reply #8 on: April 14, 2015, 09:34:10 PM »
The mustachian side of me screams moronic for the obvious reasons you all understand!

The car loving side of me screams moronic because.... 64k for a DODGE?  WTF? 

For 64k you could get....
BMW M235i.  An everyday car that turns into a trackday car when you need it. (mid 40s last I looked... I can look!)
BMW M4.  Like above but nicer.
Audi R5(ok technically its 70k...).
Nissan Nismo 370Z.
Shelby GT 500.  If you really want a muscle car... this is better than a Dodge.
Corvette Stingray.
Ariel Atom.  Super lightweight very fast street legal track ready car.  Holds several speed records and will run toe to toe with Ferrari's.  Cost about 50k for the base model.

Imagining you had millions of dollars and were already FIRE and you went through a midlife crisis and had to buy a really nice performance car.... lots of assumptions here to justify buying any of these.... who would pick the Dodge?
« Last Edit: April 14, 2015, 09:38:44 PM by Indexer »

MgoSam

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Re: Reddit personalfinance strikes again...
« Reply #9 on: April 15, 2015, 08:40:43 AM »

Imagining you had millions of dollars and were already FIRE and you went through a midlife crisis and had to buy a really nice performance car.... lots of assumptions here to justify buying any of these.... who would pick the Dodge?

Marketing dollars at it's best, convincing people to part with money they don't have to buy things they don't need to live a lifestyle that they can't afford.

TheAnonOne

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Re: Reddit personalfinance strikes again...
« Reply #10 on: April 15, 2015, 10:33:46 AM »
The mustachian side of me screams moronic for the obvious reasons you all understand!

The car loving side of me screams moronic because.... 64k for a DODGE?  WTF? 

For 64k you could get....
BMW M235i.  An everyday car that turns into a trackday car when you need it. (mid 40s last I looked... I can look!)
BMW M4.  Like above but nicer.
Audi R5(ok technically its 70k...).
Nissan Nismo 370Z.
Shelby GT 500.  If you really want a muscle car... this is better than a Dodge.
Corvette Stingray.
Ariel Atom.  Super lightweight very fast street legal track ready car.  Holds several speed records and will run toe to toe with Ferrari's.  Cost about 50k for the base model.

Imagining you had millions of dollars and were already FIRE and you went through a midlife crisis and had to buy a really nice performance car.... lots of assumptions here to justify buying any of these.... who would pick the Dodge?

I'll throw my vote in for the Vette or GT500

RWD

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Re: Reddit personalfinance strikes again...
« Reply #11 on: April 15, 2015, 10:40:25 AM »
The mustachian side of me screams moronic for the obvious reasons you all understand!

The car loving side of me screams moronic because.... 64k for a DODGE?  WTF? 

For 64k you could get....
BMW M235i.  An everyday car that turns into a trackday car when you need it. (mid 40s last I looked... I can look!)
BMW M4.  Like above but nicer.
Audi R5(ok technically its 70k...).
Nissan Nismo 370Z.
Shelby GT 500.  If you really want a muscle car... this is better than a Dodge.
Corvette Stingray.
Ariel Atom.  Super lightweight very fast street legal track ready car.  Holds several speed records and will run toe to toe with Ferrari's.  Cost about 50k for the base model.

Imagining you had millions of dollars and were already FIRE and you went through a midlife crisis and had to buy a really nice performance car.... lots of assumptions here to justify buying any of these.... who would pick the Dodge?

To be fair the Hellcat is faster (in a straight line) than most of those. Love the Ariel Atom recommendation though, that'll get you noticed.

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Re: Reddit personalfinance strikes again...
« Reply #12 on: April 15, 2015, 10:41:33 AM »
The mustachian side of me screams moronic for the obvious reasons you all understand!

The car loving side of me screams moronic because.... 64k for a DODGE?  WTF? 

For 64k you could get....
...a used Model S with 5 years left on the powertrain warranty, and never buy gas again.
« Last Edit: April 15, 2015, 12:59:22 PM by zephyr911 »

Cathy

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Re: Reddit personalfinance strikes again...
« Reply #13 on: April 15, 2015, 10:42:45 AM »
I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"
« Last Edit: April 15, 2015, 10:46:04 AM by Cathy »

caliq

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Re: Reddit personalfinance strikes again...
« Reply #14 on: April 15, 2015, 12:15:10 PM »
Some people don't want to live in urban areas, and are wiling to purchase cars rather than subject themselves to an environment they don't like...?

Guses

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Re: Reddit personalfinance strikes again...
« Reply #15 on: April 15, 2015, 02:43:29 PM »
I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.


Emphasis mine.

Whaaaaat your transportation is free in cities? That is news to me. Last I checked, a bus pass was at least 100$ a month here. So you still end up paying thousands per year regardless.

Unless you happen to live on top of a walmart that also happens to be where you work, you are bound to need some kind of transportation. Cars, Buses, Bikes they all have their use and the key is to use them smartly.

If you are paying thousands per year on a "death" machine, you are doing it wrong.





gimp

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Re: Reddit personalfinance strikes again...
« Reply #16 on: April 15, 2015, 03:01:50 PM »
Indexer, the hellcat is a different breed. If you are in the market for that kind of car, the price is shockingly good.

Of course, it's not good if you want to spend normal amounts of money on a car. But this isn't even an argument about money, in my opinion, it's about this:

An 18-year-old driving a 707 horsepower car will simply end up dead. That's all there is to it. They will be dead, wrapped around a pole or a rock or upside-down. Dead. Money? Retirement? You want to talk about how much it would cost to insure (probably $10k a year)? No, just talk about that the kid will fucking die within a year of owning it.

Exflyboy

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Re: Reddit personalfinance strikes again...
« Reply #17 on: April 15, 2015, 05:26:56 PM »
Hey come on, give the poor kid a break..

Its a consumer based economy and we live in the land of the free.. Besides which him spending money means it boosts Chrysler's stock price and dividend.. which boots the stock market ETF..

He's happy, I'm happy...:)

ender

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Re: Reddit personalfinance strikes again...
« Reply #18 on: April 15, 2015, 05:31:00 PM »
I was confused since "hellcat" to me means either:



or



And if you could buy one of those for $60k it'd be a steal!

Exflyboy

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Re: Reddit personalfinance strikes again...
« Reply #19 on: April 15, 2015, 05:41:22 PM »
It would be a steal.. and the top one will use even more fuel.. Probably the bottom one too...:)

2Birds1Stone

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Re: Reddit personalfinance strikes again...
« Reply #20 on: April 15, 2015, 06:13:19 PM »
I hope he gets it, 707 horsepower!! Unless mom and dad hide the red key, then he is stuck with a measly ~500 or so.

The car payment is only 20% of his income guys. He can afford it =D

Flynlow

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Re: Reddit personalfinance strikes again...
« Reply #21 on: April 15, 2015, 06:24:02 PM »
I was confused since "hellcat" to me means either:



And if you could buy one of those for $60k it'd be a steal!

I would happily extend my FIRE date by 10 years to own one of those Hellcats!  Or a Corsair, or Mustang, or Spitfire, or Lightning, or Warhawk, or......well you get the idea :).  The awesomeness doesn't just go to 11, it goes to 11ty billion.  Unf.

WW2 planes, what a great threadjack!  :)

galliver

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Re: Reddit personalfinance strikes again...
« Reply #22 on: April 15, 2015, 07:21:52 PM »
I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"

I think I recall from other posts you're a devoted city-dweller and find everything you need for happiness and satisfaction in the city.  That's fine, but I get a lot of happiness/satisfaction from sleeping on the ground and walking on a dirt path through the woods/prairie/desert/mountains/whatever all day.  Occasionally.  I lived 8 adult years in IL without a car (I had zipcar available for some of it), and was mostly happy because there wasn't really any great nature places to go. When bf and I moved to California last summer, we got a car, because renting one every weekend to get out to the gorgeous places around here would be unsustainable, and not getting out every weekend (or trying) would be a cardinal sin in our belief system (I exaggerate for effect). :)

I also see it as a near- or total necessity for people with kids, particularly if both parents work, as working parents of young kids are notoriously short on time, and one thing public transit is not, in many places, is time efficient (nor are bikes). Also there are no safe ways, AFAIK to take a baby on a bike, and sometimes you have to drive them to the ER.

MrsPete

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Re: Reddit personalfinance strikes again...
« Reply #23 on: April 16, 2015, 06:13:38 AM »
Clearly a fake troll post. No 18 yo that is smart enough to earn $1k/week take home is stupid enough to buy a car that expensive.
Oh, no, no, no: You're assuming that earning ability, intelligence, and good decision making skills are traits that gang together! 

That's not always true, especially when you're talking about an 18-year old.  I work with them every day, and they are ubercapable of some serious double-think.  From his comments, I'm sure he's an 18-year old who thinks he's making a good choice, who thinks he's working hard and deserves a reward, who can't see that he simply wants the status that comes with this car.  He clearly has no concept that he's living on the gravy train:  Making big bucks, while living at home with low expenses.  He doesn't grasp that this could ever end, or that he should be saving up because someday supporting himself might cost more than $400/month.  He sounds just like every one of the kids in my 4th period!  Nice kids, every last one of them, but naive and inexperienced. 

Forcus

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Re: Reddit personalfinance strikes again...
« Reply #24 on: April 16, 2015, 10:50:30 AM »
The 18 y/o is missing something key. No one respects a kid with an expensive car if mommy and daddy are paying for it (and essentially they are... by not charging room, board, food, etc.). So he can get the coolest car in the world and everyone will be like "ok, kid" because he didn't actually earn it.

Besides the fact it's a dumbass move financially.

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MrsPete

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Re: Reddit personalfinance strikes again...
« Reply #26 on: April 16, 2015, 12:28:31 PM »
I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"
I think urban areas are fun to visit, but I would never live in one. 


MrsPete

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Re: Reddit personalfinance strikes again...
« Reply #27 on: April 16, 2015, 12:31:58 PM »
The 18 y/o is missing something key. No one respects a kid with an expensive car if mommy and daddy are paying for it (and essentially they are... by not charging room, board, food, etc.). So he can get the coolest car in the world and everyone will be like "ok, kid" because he didn't actually earn it.
And that's the kind of double-think that I see in my students.  It's NOT impressive for a teen to have a 1K prom dress, or to go on an expensive vacation, or to drive whatever.  I'm remembering an episode from the Cosby show when one of the kids was talking about "being rich", and Bill Cosby made it clear:  "Your mother and I are rich.  You have nothing."

Forcus

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Re: Reddit personalfinance strikes again...
« Reply #28 on: April 16, 2015, 01:27:34 PM »
The 18 y/o is missing something key. No one respects a kid with an expensive car if mommy and daddy are paying for it (and essentially they are... by not charging room, board, food, etc.). So he can get the coolest car in the world and everyone will be like "ok, kid" because he didn't actually earn it.
And that's the kind of double-think that I see in my students.  It's NOT impressive for a teen to have a 1K prom dress, or to go on an expensive vacation, or to drive whatever.  I'm remembering an episode from the Cosby show when one of the kids was talking about "being rich", and Bill Cosby made it clear:  "Your mother and I are rich.  You have nothing."

I recall in HS that the car guys saw through someone with daddy's car. A guy at school had an almost new Trans Am (this was in '99) and would occassionally drive his dad's 308 Ferrari (impressive to those who don't know Ferrari's). But the car guys saw through it and knew it was all daddy's money.

Of course I don't think the girls examined his income stream in near detail, he always had a "seat cover" lol....


gimp

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Re: Reddit personalfinance strikes again...
« Reply #29 on: April 16, 2015, 08:06:16 PM »
Please, the 308 might be the most beautiful ferrari. Just because it's relatively cheap doesn't change that!

Forcus

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Re: Reddit personalfinance strikes again...
« Reply #30 on: April 17, 2015, 09:05:55 AM »
Please, the 308 might be the most beautiful ferrari. Just because it's relatively cheap doesn't change that!

Actually don't fault the looks. More the (lack of) speed, maintenance and cost, comfort, general build quality. Hard to be proud of a Ferrari that can get beat by a Focus ST... lol. If I had the money I'd probably get a 355 (yes I know... hated by the establishment) or 360. Obviously, well used. Mid 2000's Aston Martin DB is on my short list too.

rocksinmyhead

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Re: Reddit personalfinance strikes again...
« Reply #31 on: April 17, 2015, 10:12:20 AM »
My favorite Reddit response: "Let me put this in perspective for you. 72 months ago, you were 12." bahahahaha!

I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"

personally I enjoy living in urban areas, but keep in mind not all urban areas are created equal. IIRC you live in the Bay Area? really, really not the same thing in terms of public transit and ease/safety of biking/walking as living in Tulsa, Oklahoma (and I live downtown, basically about as urban as you can get in this state).

I wish I could suck it up and go without a car but my badassity's not there yet. also it's usually like 105 in the summer so I would smell pretty bad everywhere I went.

skunkfunk

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Re: Reddit personalfinance strikes again...
« Reply #32 on: April 17, 2015, 10:53:29 AM »
My favorite Reddit response: "Let me put this in perspective for you. 72 months ago, you were 12." bahahahaha!

I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"

personally I enjoy living in urban areas, but keep in mind not all urban areas are created equal. IIRC you live in the Bay Area? really, really not the same thing in terms of public transit and ease/safety of biking/walking as living in Tulsa, Oklahoma (and I live downtown, basically about as urban as you can get in this state).

I wish I could suck it up and go without a car but my badassity's not there yet. also it's usually like 105 in the summer so I would smell pretty bad everywhere I went.

Living near downtown OKC, drivers here don't even know what to do when I'm on my bicycle. About half of them try to kill me, another quarter know what to do, and then the rest of them are too scared to pass. I even had one terribly old lady follow me around honking because I was chugging up a hill with no other way around too slowly for her tastes.

Buses suck. No groceries within a few miles. It just isn't a very well thought out city and I bet it's similar in Tulsa.

MgoSam

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Re: Reddit personalfinance strikes again...
« Reply #33 on: April 17, 2015, 11:20:59 AM »
My favorite Reddit response: "Let me put this in perspective for you. 72 months ago, you were 12." bahahahaha!

I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"

personally I enjoy living in urban areas, but keep in mind not all urban areas are created equal. IIRC you live in the Bay Area? really, really not the same thing in terms of public transit and ease/safety of biking/walking as living in Tulsa, Oklahoma (and I live downtown, basically about as urban as you can get in this state).

I wish I could suck it up and go without a car but my badassity's not there yet. also it's usually like 105 in the summer so I would smell pretty bad everywhere I went.

Living near downtown OKC, drivers here don't even know what to do when I'm on my bicycle. About half of them try to kill me, another quarter know what to do, and then the rest of them are too scared to pass. I even had one terribly old lady follow me around honking because I was chugging up a hill with no other way around too slowly for her tastes.

Buses suck. No groceries within a few miles. It just isn't a very well thought out city and I bet it's similar in Tulsa.

Yeah but in Tulsa you also get faced with the increased prospect of getting shot by a cop.

skunkfunk

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Re: Reddit personalfinance strikes again...
« Reply #34 on: April 17, 2015, 11:22:17 AM »
My favorite Reddit response: "Let me put this in perspective for you. 72 months ago, you were 12." bahahahaha!

I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"

personally I enjoy living in urban areas, but keep in mind not all urban areas are created equal. IIRC you live in the Bay Area? really, really not the same thing in terms of public transit and ease/safety of biking/walking as living in Tulsa, Oklahoma (and I live downtown, basically about as urban as you can get in this state).

I wish I could suck it up and go without a car but my badassity's not there yet. also it's usually like 105 in the summer so I would smell pretty bad everywhere I went.

Living near downtown OKC, drivers here don't even know what to do when I'm on my bicycle. About half of them try to kill me, another quarter know what to do, and then the rest of them are too scared to pass. I even had one terribly old lady follow me around honking because I was chugging up a hill with no other way around too slowly for her tastes.

Buses suck. No groceries within a few miles. It just isn't a very well thought out city and I bet it's similar in Tulsa.

Yeah but in Tulsa you also get faced with the increased prospect of getting shot by a cop.

Nope, I'm your most generic, least-likely-to-get-shot-up-by-a-bad-cop American - middle class white guy in a polo shirt.

Syonyk

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Re: Reddit personalfinance strikes again...
« Reply #35 on: April 17, 2015, 08:49:05 PM »
Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"

Speaking as someone actively planning on a move from what many people feel is an "awesome" urban/suburban area (Seattle-ish) to "pretty damned close to the middle of nowhere" (somewhere in Idaho)...

A "death machine" living in a rural area is a lot cheaper than living in an urban hell.

An urban area is living in a tiny little expensive place (or a larger, mostly unaffordable place), with little or no ability to provide for your own needs (food, energy, heat, etc), and paying out the nose for the "privilege" of hearing nothing but man-made noise all day long, and seeing nothing but man-made light at night  If you can see a star or two, that's impressive.  You're also generally subject to a lot of other people who have the right to tell you what to do (which mostly involves "Don't grow your own food but keep your lawn watered and mowed, how DARE you put solar up, and what are you doing fixing your vehicle in the parking lot!!!").

I'll pass.

And even with a bit more driving, I'll still be able to live on radically less money, because for a few years of rent out here, I can buy somewhere out there, and do what I want with it (which involves a lot of gardening and solar).

YoungInvestor

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Re: Reddit personalfinance strikes again...
« Reply #36 on: April 18, 2015, 07:57:52 AM »
I've never understood why everybody seems to want to own cars, expensive or otherwise. That includes most people on this forum. It's always seemed insane to me to spend thousands of dollars on a method of transportation. The idea of purchasing a car or learning to drive has always been something I've summarily dismissed. Assuming you live in a remote rural area with no necessities in a 100 mile radius, you might currently "need" a car (unlike most car drivers), but your thousands of dollars would be better spent on moving to an urban area rather than purchasing a death machine.

Urban areas may not be large enough to accommodate everybody, but that's the same sort of argument as "What if everybody saved their income!?"

If money wasn't an issue (well, it isn't, but let's say if I was FI with some money to spare), I'd be on my way to buy a jaguar F-type right now.

Cars are fun. Really fun.

Meanwhile, I'm usually walking/taking the bus. But I love driving when I get a chance and taking some country roads is well worth the extra 5$ I might spend on gas.

Sibley

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Re: Reddit personalfinance strikes again...
« Reply #37 on: April 29, 2015, 02:29:31 PM »
The 18 y/o is missing something key. No one respects a kid with an expensive car if mommy and daddy are paying for it (and essentially they are... by not charging room, board, food, etc.). So he can get the coolest car in the world and everyone will be like "ok, kid" because he didn't actually earn it.
And that's the kind of double-think that I see in my students.  It's NOT impressive for a teen to have a 1K prom dress, or to go on an expensive vacation, or to drive whatever.  I'm remembering an episode from the Cosby show when one of the kids was talking about "being rich", and Bill Cosby made it clear:  "Your mother and I are rich.  You have nothing."

I recall in HS that the car guys saw through someone with daddy's car. A guy at school had an almost new Trans Am (this was in '99) and would occassionally drive his dad's 308 Ferrari (impressive to those who don't know Ferrari's). But the car guys saw through it and knew it was all daddy's money.

Of course I don't think the girls examined his income stream in near detail, he always had a "seat cover" lol....

How about the kid I went to HS with who was driving daddy's perfectly restored '67 Corvette without permission, and I tapped the classic car in my dad's near-beater Chevy Corsica?

My parents weren't upset, as the car wasn't worth much, and indeed was replaced soon after (needed too much work in general to be cost effective - I didn't even dent the bumper). They viewed it as expected learning curve for a new driver. The kid? Grounded for a month and lost a bunch of other privileges is what I heard.