Levels of Wealth (Car Edition)

your car tells the world how well you're doing in life so in this video we'll break down what different levels of wealth drive around let's see how high of a level you've made it to here are levels of wealth the car Edition welcome to alux the place where future billionaires come to get inspired so starting at level zero you've got no car right you're still a student you still live with your parents you live in a dorm in a cheap rental apartment you walk you take the Subway or bus to get places now and then you might take an Uber but these have gotten so expensive you would rather walk you've been thinking of getting a bike and dream of having a car at some point but there's not enough money for you to get one and the idea of Maintenance insurance and dealing with parking kind of puts you off you can't afford another thing to take care of because you can't even fully take care of yourself just yet then you move on to level one a cheap old car the price tag on this is around $110,000 or less this is your starter car you practiced driving on your parents car but this is when you become a real driver it's not flashy but hey it gets you from point A to point B your friends ask you to drive them places and you split fuel money your gas tank is Never full you put in like 20 bucks at a time you probably got the car passed down to you or your parents spoted off of someone else it doesn't have any of them the modern bells and whistles but you still found ways to make it your own usually by applying some sort of sticker you clean it yourself and you've got no right to complain you look at other more expensive cars and can't think of ways to justify a higher price tag since in your words they all have the same four wheels it's fine though because the cheapest car is still better than the most expensive walk but after a while you skip on over to level two an older second hand car with a leather interior price tag somewhere between 10 and 20,000 this is the first upgrade you do in life the old car had too many issues and you're no longer a starter driver by this point you've got a job and a fairly predictable income you can't afford to buy a house yet but you can afford a much better car you pull together some savings and spend the night's browsing internet listings you know exactly what you're looking for you know what you want in order to feel like you're making some progress well the Comfort needs to go up a little bit so you're fine with a 10 plus yearold model as long as it's got some leather seats and you can still get apple carplay to work a sunroof is a really cool bonus the car has a sporty Vibe it's a cool car and you use it to impress potential Partners you take pride riding around in it because you bought it yourself you look down on people who got theirs handed over to them because you remember our quote the kid who buys their own Toyota is more successful than the one flexing in Daddy's Range Rover level three under 5-year-old Car Plus a second car for the spouse price tag $25 to $40,000 so you're beginning to mature financially and it's time for that second upgrade since you're still playing catchup with the Joneses you buy a 5-year-old car and it feels like a spaceship it's probably the largest one item purchase you've ever made so far but tomorrow looks brighter than today so you Splurge by now you've established yourself in the workplace and maybe you've got a partner or even a spouse you've been sharing the same car because you were thinking of getting a mortgage together but with housing prices the way they are you postpone that decision you rent a decent place and because you don't have any kids yet you've got disposable income so you decide to buy a second car for them to use if your car is paid off or almost paid off the second car is most likely Al loone and you'll be making car payments on it until you eventually pay that one off as well you take pride in seeing two cars in that driveway sure they might not be your dream cars but you remember the days when you used to take the bus and you feel great about yourself level four luxury secondhand car or brand new mid-range car price tag between 40 to 70,000 now this is usually where the middle class peaks in terms of car acquisition power because your you're smart with your money you know that spending over $100,000 on a car doesn't make sense unless it's a truck you use for work this is your main family car it's either a minivan that you drive your kids to school in a Ford F-150 or something like a Volvo a mid model Mercedes or a Tesla Model 3 if you really pushed yourself you could have gotten something even more expensive but you played it smart you're in a management position and you didn't want to send the wrong message plus there are a bunch of other expenses in your life that require a good chunk of your budget such as your mortgage your kids travel and hobbies but after a while you hit Level five a brand new luxury car price tag between 100 to $150,000 this is the first time when you feel like you're spending a lot of money on a car you either go with an SUV think Range Rover Sport BMW X5 Volvo XC90 Porsche Cayenne or Tesla Model X now this is usually your dream car moving up the car ladder at least a dream you can justify by buying it through your company not as an individual usually an operating lease it's when you get your Beamer your Lexus your Escalade even a Porsche 911 with a few miles you buy it because it signals to everyone else from your past that you made it it reads successful and you look at it as a big reward for all the hard work you've put in a mistake we see poorly educated people make is they buy the car before they buy the house let's get you educated okay the value of the car should be between 10 to 15% of the value of the home you live in very rarely should it exceed 20% of the value of your primary residence or 10% of your entire real estate portfolio or to put it in more simpler terms you shouldn't get a $100,000 plus car if you're not worth over $1 million yet you see it often where people drive cars more expensive than the home they live in these are the same people who more often than not end up broke in a 5-year window after that purchase but if you make it past this you hit Level six brand new luxury his and her cars you now own two cars a big car and a fun car you drive one your partner drives the other put together you paid over $200,000 for the pair your family says you're rich and you kind of believe that about yourself now too life is good gone are the days of vondo you now live in a house and the cars are parked in your garage you probably even got a pool your friends are passionate about cars and you're already thinking about what the next upgrade should be recently you've been thinking about older cars and the idea of starting a car collection if the opportunity ever presented itself but you postpone those thoughts because you're focusing on upgrading your main drive just once more at level seven the G wagon Maybach Bentley or the cheapest Ferrari price tag $175 to $300,000 so this level carries one of two names either Comfort or Flex you always wanted a G wagon and now you can comfortably afford it for the sophisticated City Life you choose a Maybach or a Bentley if it's a Bentley a Continental GT or a flying spur will do and if you can afford a driver for mybach you're a millionaire your net worth is between 2. 5 to 5 million us but you're not afraid to buy the cars because things are looking good you've earned over $500,000 in the last year alone and if you're going to sport this route you're probably looking at a Ferrari Roma an Aston Martin or a Porsche GT3 RS these are the cars that popular Financial influencers lease to shoot promos for their scam courses something like a 2019 Lambo they're loud they're flashy rigid to drive but they do get the attention you're after then there's level eight rollsroyce or Supercar price tag between $400,000 to $1. 2 million if the journey starts with a Lamborghini Urus or a Rolls-Royce cullinen for the luxury SUV slot it gets really expensive really really fast you can afford a proper Ferrari you run an established business that's printing cash and you're involved in a bunch of projects you've got a reputation in your geography you live in one of the best ZIP codes in your country people know who you are and they recognize the car in traffic you're not in the Bugatti or Pagani territory but you've got a lot of options your net worth is between1 and $25 million and you probably earned over $1 million last year and now level 9 Supercar collection price tag $5 million plus Plus in cars although $5 million in cars might sound like a lot the truth is you can get there with just two or three cars one McLaren P1 is approximately $2.

5 million one Bugatti Chiron approximately 3. 2 million buy another keg rera for 4.