No, rich people may be rich, but wealthy people have the luxury of time, while sufficient funds to pay for things by not financing unless there are tax benefits to do so. There seem to be a lot of "rich" people where I live but a few of us are wealthy. They run themselves ragged making themselves rich while the rest of us enjoy the quiet luxury of multiple streams of investment income.
Rich people lease those cars through their company so they can write off the payments. Sales are down because the middle class can't buy them anymore because the prices are out of reach.
always buy US-made cars.. they are better and much more reliable.... (edit: sorry... can't even finish that sentence... I'm not very good at making up stuff) 🤣
@@S_Paoli I used to buy American. The cars were great, it was all the parts that made up the cars that kept breaking, even after a month. I buy Toyota/Lexus now.
@@tommrugala1513 I like how you think. Guess I was wrong to blame all the awful GM and Ford/Lincoln cars/SUVs that I owned before. They were excellent vehicles, but just had bad parts that kept breaking? :)
BMW is having issues because they look extremely ugly after the new chief designer 🤡 Domegoj Ducek took over in 2018. Thank god he was finally fired earlier this year.
Rich people aren’t feeling the pain. It’s the people who want to give off the illusion of wealth who are suffering. Yes sales in China are down, that’s not a reflection on BMW and Audi alone. All the foreign manufacturers have experienced a drop in sales.
Car makers have abused their customers for a long time offering cheaply made expensive "premium" vehicles that are impossibly expensive to buy and maintain.
I work at a major company corporate office. Many, many six figure incomes, some seven figures. Most lease their luxury vehicles. Why? Because they know how to lease well.
The problem with vehicle manufacturers like BMW is they charge high prices for their vehicles, then hit you with ridiculous prices for parts. I hate manufacturers that do that.
What is up with calling successful people "scumbags with money?" We live in a capitalist society and as such there are many hard working people who through their savings and investments and/or entrepreneurship have been rewarded financially. Villianizing successful people for buying a luxury automobile just sounds like sour grapes at best.
Do you think making a short video with a stupid opinion makes you smart and special? People like him just cry around if is not able go get something nice … Idiots everywhere😜 Sometimes economy is going down… good timing for smart buyers😜
Agreed! I work hard, have diligently saved and invested for many years, and was happy to buy a new bmw a couple years ago. So that makes me a scumbag? Some people will always be envious….
This will always happen when you try to GROW way to fast. All German car companies make too many models, get rid of the BMW 1's and the 2's. cut some out of the others, or loose your company. This is why the resale price is terrible. Audi is a very temperamental car. Repairs will kill your wallet. VW stay away!!
Resale price is terrible because that's what their actually worth. They sell for what the engine is worth. They are a crap shoot. One can last another 100k or 1k no telling how they have been cared for and being maintained by the dealer means nothing. They only maintain them ok enough to get thru warranty.
The BMW X1 is actually the BMW entry-level vehicle and is actually the most reliable model they make. The X2 is basically the same vehicle just smaller. If you want one 2019 and up rate pretty good for reliability. One of the issues with BMW is they charge a lot for parts.
I hate BMW! I don't know what I was thinking when I bought a new unreliable 325i in my 20's, which I kept for 11 years. And then here I go again, trading in the 325i for a new X5 right after. Both cars were so unreliable and the costs to maintain and repair was astronomically unethical. Both had electrical issues too. I missed so much time at work taking these cars at the BMW service center BMW's are junk. Do not get enticed by the design.
I have had many brands over the years. Later model BMWs have been the best. Current BMW is five years on the job. The only costs are a new set of tires from a local tire shop, a couple of oil changes at the BMW dealer ($100 each) and a defective rear signal fixed under warranty. Other solid brands have been Honda, Toyota, Mazda. The worst brands have been Ford, Dodge, Kia and VW.
I had same miserable experience with Audi. The last straw was an expensive avant A6 that mechanically totaled itself at 48k miles. And fan boys don't dare to tell me I didn't maintain it. I lived at the damn dealership for regular maintenance and all the issues. Finally dumped that pos in order that I didn't lose my IT job that afforded such a car. Bought an Outback and a Lexus and now live a life of vehicle peace with zero non maintenance trips to service. German and Euro cars are low quality excrement!
@@ivanvarykino8202 Hey Thanks for validating these POS German Cars. I wanted an Audi S5 or S6 until a friend who owns one advised me that it was worst than BMW. I drove a Lexus GS 350 after the X5 for 14 years and had no issues until the 15th year. Now, I drive a Toyota Camry. Though it's not my ideal car, its definitely reliable for the time being until I can figure out which SUV I want to trade it in for in a few years time. Thanks.
friend of mine just got quoted $650 from a dealer to replace a window motor on old Buick , he did it himself for 60 bucks … $250 won’t get you much anywhere , not just BMW
I remember seeing my first Lamborghini countache on Rodeo Drive in 1987. The price was $100,000 and I thought it was madness. Today the average car is that price.😂
What that should tell you is you need to study how the government has diluted the money value over decades. All Fiat currency is losing value, some faster than others, start looking into hard assets like bitcoin and gold for wealth preservation and even wealth building when it comes to bitcoin
@@petrolo72👏👏👏👏👏👏👏👏👏. I’m glad somebody on this chat gets it. You can either make videos calling rich people names or you can study and get rich yourself.
@@revnation_auto I apologize for my previous comment. I understand and agree with you 100%. Rivian is a company that deserves to go under and the government has no business giving them our hard earned tax dollars. I couldn’t agree with you more. Again, I apologize for speaking before watching the whole video. You are 100% correct.
if you don’t want to pay 50K for BMW SUV , you can always go get a Jeep Gladiator for the same price , or if $140K sounds too much for loaded BMW 740 , you can get a nice Dodge pickup truck for about the same price … average car price in US is around $50K … and if BMW crashing profits are bad, think about 1000 workers who just got fired by Stelantis at Wrangler assembly plant…
You are so correct..😜 Some folks just cry becouse they know they are not able get one… My 20yrs old Buick gets me from point a to b 😂😂😂 Since when they think they are smarter just because they can’t afford shit?😂😂😂
I think that as usual there is a massive confusion between "wealthy" and "rich". As a wealthy person, purchasing a car is not a big deal. Once the details are ironed out, I call my advisor to wire the funds to the dealer. I think that what appears to be "rich" people buying expensive cars and things are high income earners living paycheck to paycheck. That is not how the wealthy live.
I couldn’t agree with you more. Also, there’s nothing wrong with being rich or a high income earner buying things that you want. People who make these videos and refer to successful people as scumbags, etc. etc. sound extremely childish and sounds like they are not where they want to be in life and are looking for others to blame.
You lost me at 28 seconds in when you called people who can afford a BMW ’aholes’. People who can afford more expensive things in life are keeping many people in employment, just in case you didn’t know!
If German car companies are truly suffering, it’s only because of their reliability shortcomings. If they offered consistently reliable, luxurious, and non-gimmicky vehicles, they would sell. Lexus has no problem selling their luxury vehicles because although they are not the most exciting, they are some of the most reliable. Porsche has no problem selling their super expensive sports cars either. They are reasonably reliable, luxurious, and down right exciting to drive. They have a good formula going.
I don't see your correlation with rich people and this car market. Most of the people that I know that have money want to teach other people how to do the same thing. Rich people buy time, poor people buy things and ambitious people buy knowledge.
Plllleeeaasse...People with money have money because other people dont have money. You are delusional and a fool....I know people with money as well and the last thing they want is other people having a financial upper hand where they could potentially be their competitor...
What most people don't understand is the people who buy these cars do it for tax reasons. Waste it on a new BMW or give it to Uncle Sam. They are paying very little for them in the end.
Btw. Audi is not just a Volkswagen because it uses Volkswagen parts it also uses Lamborghini parts. That doesn't make it a Lamborghini either. This guy is slow.
Rich people generally buy reliable vehicles like previous generation/older Tacomas and 4 Runners. That's how they got rich, by saving money and making good decisions, not buying these overpriced throwaway modern cars.
Exactly. There's a lot to be said about sensible practical motoring. Percieved brand superiority has reached the end of the road due to an overtraded car market, unnecessary and unreliable tech pushing up prices and obscenely poor quality. I predict lots of IMPLOSION on the cards for 2025. Too many models and brands out there competing for a limited customer base and now the EV farce has entered the stage. No happy ending by any stretch of the imagination.
German cars are high price and high maintenance. Buy at your own risk. Only if you have $$$, otherwise it is impractical for regular middle class consumer.
Just like about any other cars , unless you want a Nissan Kicks or Corolla … try to take your car to Buick dealership and see what happens… or any outer dealership for that matter
Most of the people with new ones are leasing. Audis out of warranty are terrible and expensive, Benzes are expensive. I have no ownership experience with BMW and probably never will…
It all depends… you can say how lucky you are with your model. My wife drives Q7 , 80k mile and not one single probl. I owned an X 5 diesel for 10 yrs. not one single probl. i sold it with 100k mil. I bought a 428 series with around 30k miles after 4 yrs i sold it with 75k miles on it and i never had any issues. 5 mo ago ai bought for Half price Pre certified , still under warranty M850 my new lover . Paid $65k only 9k miles… Different opinions…
I looked at new BMWs when I took my car to get serviced. They had very few to choose from. The only ones that don't seem to sell is their EVs. BMW doesn't need a bailout, the reasons their profits are down is because of what is currently taking place in China with EVs. The Chinese have basically stopped buying American, European, and Japanese cars. Causing plant closers there. The BMW plant in Spartanburg SC, employs thousands of people where most of their SUVs are built. It is because of rich people those who work at that plant have a job, even if they can't afford the cars made there. So before you wish the worst for them, at least care about Americans who will suffer if BMW goes under.
Well, if they built their cars to last more than 24 months, this probably wouldn't be so bad for them. The world will be just fine with no more BMW/drivers...
Depends on where you live. Where I live in Texas the police hate bicycles and will take any chance they get to ticket you. Seen another mugshot recently where a guy got arrested on sight for running a stop sign and riding on the left side of the road. Riding on sidewalks is also a ticket and so is not having a front white light and rear reflector. On top of that there's no bike lanes so you have to be smart not to get run over and then there's the high crime rate so you have to carry a loaded gun and be ready for the worst. Thinking about selling my ebike and maybe I'll start riding again when I move to a bike friendly state.
I'm on the outskirts of Houston and have a 33 mile commute one way usually but I can work at various locations closer to further away up to 60 miles away. Of course I'm not justifing a BMW, I'm driving a 20 year old beater. What I am saying is it that it would be impossible to do my job effectively and dangerous if I tried to do it on an electric bike. Bikes only work if you have short commutes in the inner city, you don't need to have passengers ever, and don't need to haul anything more than a backpack which applies to a small subset of the population.
Just a note that many responses on here REFUSED to mention or either they are not smart enough to figure it out. Not every BMW consumer is Rich, many of them are typical working class that are trying to impress someone they don't know with borrowed money.
Audi- the worst decision you will ever TRY to keep running. Our Dr. had one that sat and rusted in his back yard because mechanics could never find why it wouldn’t run. We also had a little used gas saving Audi, it was in the shop so many times, we traded the @#$%^ thing in on a used Toyota , no trouble w it at all!
Most of you here who criticize the content producer for his qualms with the elite class, Ceo's, and assett management firms are too naive, unintelligent, and apathetic to understand what Blackrock is , ESG, who Larry Fink is, and most certainly what Fink's early life history is....
@@18_rabbit Google Larry Fink's early life history on wikipedia as well as Rob Capito. Honesly all of the ceo's except one share the same early life history. I cant share the results here or otherwise the information will get deleted. Hopefully you can pick up on the pattern recognition and not try to deny the significance of the information.
Maybe it's just ordinary people who used to drive these cars when they were more reasonably priced and often discounted saying no to out of control inflation. In a representative sample of one, I paid £34k for a new 320d in 2018 and then 5 years later I was looking to replace it and a new version with the same spec came out at £51k. I'm quite sure the new model was better but it's just not a price I could or would pay so that was the end of that. 50% price inflation in 5 years, if only my own money worked that hard.
The prices you quoted if the $$ just to get into one of these things…. Then u have ALL OF the other expenses…. The higher octane fuel, maintenance visits, PARTS( if you can even try at being a shade tree mechanic)…insurance! Insane numbers…
just think about it this way: even the final non turbo BMW straight six engines were so complicated that u cannot find a mechanic here in the US who has the skills to change out a little vital part called the Vanos spring. Our nation is not competent when it comes to euro cars repairs/overhauls etc. It's not practical any longer to own them here as used cars.
I think you are spot on. The cars are full of glam and glitz that costs a bundle, fails often and serves little use. Then it costs an arm and leg to get any of it fixed. Cars are a product gone crazy.
We're now in some very strange territory where the old Chinese curse applies "May you live in interesting times" All of the wannabe endless status seekers, the fake rich (not the truly rich, they have more sense than this current lot.) all getting their comeuppance So, now we are truly a 3rd world country with a Gucci bag, although that's probably fake
One of my friends just bought an X1. He's a real estate broker in New York and he's very busy. He does deals from $500K to $20 million and a lot of wealthy people have been moving out of the city. He bought his old X1 in 2018 and has had some problems with it. He loves the car though and is just getting a replacement. I'm shopping for a Camry myself but am in no particular hurry.
@@dchawk81 A former colleague of mine when I was working at a Honda store, is now the GSM at this particular dealer. Car sales still hot.. Toyota across the street selling around 500 a month as well.
These BMW's just like Jaguar and Range Rover/ Land Rovers ( I had a hard time even remembering the exact names of those last two turds) are absolute maintenance nightmares waiting to inevitably happen. They've got more sensors, ECU's, and relays than the international space station and rest assured they are going to go wrong and usually it's far sooner than the idiot drivers of these ever imagine. Generally when it does happen the amount of money it costs for a goofball mechanic at the dealership to fix or replace it all makes even the most strident trust fund douchebags that buy these "vehicles" wince at the price. This ultimately gives the owners a dose of reality that they really don't have near as many shekels as they thought they had...
No, I don't feel for any of these corporations; they're all predatory and this is what happens when all of the money is funneled to the top. It's those who thought they were well off who can no longer afford these. The rich don't purchase enough to sustain any of these brands except perhaps the likes Rolls Royce, Ferrari, etc.
Problem is that all these cars are too expensive. Why? Because they is too much electronic inside, that maintenace is expensive. Why? Because EU demands mostly this electronic because if security.
I don't know if you have been paying attention, but the rich are doing just fine. A big problem for BMW and the like is that the aspirational middle class is not feeling as good about their prospects with the IT sector shrinking and AI starting to threaten whole categories of high tech employment. German luxury has also been a victim of its own success...these cars do not look or feel all that special. Tesla has taken a bite, for sure. But where the BMW 3-Series seemed like a rite of passage not so long ago, they seem invisible now.
So, as we are going down the rabbit hole of just casting most as these cars off as junk…. I bought an A6 3.0Tdi Quattro Le Mans brand new in 2006. I paid £56k for it. I still drive it to this day and in 18 years of ownership, apart from brakes and tyres and oil etc, it has cost me less than £2k in parts. It’s STILL running its original lead acid battery although it is tired and needs replacement. Junk it is not, it’s the best car I’ve ever owned which is why it’s still in the garage. Reliable, economical, powerful, fast and starts in the button every time. The cost of manufacture in Germany since the US torpedoed Nordstream (which I fully agree with), as well as labour costs etc is making building German cars anymore uncompetitive. Like already said, don’t think the rich are taking a bath in these cars, most of them are end of lease, they’ve already passed off the debt or written it off. I am by no means rich or wealthy, and I have nothing against rich or wealthy people, nor poor people. I happen to not like BMW’s because of how they look and the image they convey, but some will say the same of Audi owners. A lot of these cars will end up under the hammer at auction for a lot less than they are up for now. When they do, go grab yourself a bargain.
i've owned a couple of audis over the years. i used to think they were for the rich. funny that what i used to think was for blue collar workers like pickup trucks are more expensive than some of the top of the line audis. probably more reliable too. my q7 rs is worth next to nothing compared to what it cost new. had multiple issues throughout the warranty period. still making expensive repairs out of warranty still under 100k miles. i will basically buy the car twice. they are vehicles to make you broke more likely.
My 2009 528i has 175K miles on it and still purs like new. Which is why i was confident in purchasing a preowned 2021 X5 40i last year. Not rich but have great credit score and saved over my 40+ years to afford some (overpriced) toys.
The servicing costs on those pigs is insane as well. They drive nice for sure, but for how long? The only one I would consider is the M340i. Turbo straight 6. Pretty stout motor. They use to the 530d for highway patrol in Australia and even 2nd hand flogged out ex police beamers have stupid price tags on them at the dealerships. I'll stick with my V6 Camry 👍
I just drove the M340i. It’s slow and not very fun at all. Its suspension can’t handle its weight properly. Cornering was a joke. The interior wasn’t very premium. I’d go with a standard 540i.
@@movdqa there aren't many in Australia either. Only 4% of all 2018-2021 Camrys sold had the V6. The first one I bought was totaled by a runaway bus. Took me 18 months to find another one in similar condition. But they are smooth comfy cheap and made in Japan. Worth hunting down imo. I'm looking for another one for the wife.
I agree with you wholeheartedly. Also, crazy how pick-up trucks cost about the same these days. Nothing is reliable. Everything has smaller motors with engine killing turbo & super chargers on them.
Most luxury cars are leased for three to four years, after that you can buy these used, look for a low mileage, one owner, full history report, sometimes you can find one for 60% off the original price! Just have to do your research!
Not sure what your issue is with people that can afford to buy luxury cars. The pain is a ripple effect - BMW has invested over 3 billion into SC and employees 23000 workers... all of whom will feel the pain if production slows down.
Own 2000 Silverado crowding 1/2 million clicks that I bought from original owner in 2002. Paid for 10 times over, faithfully serviced and rust proofed and doesn't miss a beat. Zero carbon footprint and zero negative equity.
The reason BMW and VAG are having those massive losses is because the Chinese market pretty much collapsed. As Evergrande and Market Garden started piling on huge losses following the institution of the Three Red Lines, Chinese people lost their sense of economic security and started hoarding their cash. As a result, big ticket items, from designer labels to premium car brands, are seeing their sales evaporate. This is a tsunami that got started about three years ago and is now hitting the shore.
The German car companies have become fools for tech & hype. Back in 2003, I leased a VW Golf 4-dr. auto. TDI. Fantastic little car, the Diesel got great fuel mileage, cruise at 75mph & get around 42mpg, go through snow drifts, started every time even when it was really cold. Turned it in for the bigger engine & all I got was salesman crap. Wouldn't deal, "...car is pretty rare, we don't have a lot of inventory..." etc. Then there was 'TDI-gate', which was more about internal VW politics & I said 'never more'. From there, German car reliability took a down turn. I won't consider another German car again. That Little TDI Golf was fun, I miss it!
And on top of that i own 4 german cars😂😂😂 Q7, Porche Cayenne and 2 BMW a 7 series and my new lover M850 😂 What’s up with that??? And i sleep perfectly fine.
Most rich people aren’t driving these vehicles. They drive Toyotas and Hondas! It’s people that can’t afford these luxury vehicles anymore that can no longer finance them.
My opinion is,...the dealerships have gone rogue! They make more profit than the OEM! I see a nasty market correction coming for the dealerships,...this cannot go on!
lol. No the avg person cannot do that at all unless they have a great shop who is unusually skilled and affordable, and even then, for most ppl, the repairs and overhauls will make it unpleasant or unaffordable. Everything changed in the past decade re this.
Its clearly due to super high labour cost , high energy cost that is in Germany... Take look at latest chinese luxury cars.. they r far far superior in quality and cheaper.. here in India also mahindra released EV that has all bells and wistles... rock bottom cheap to maintain and they r very good quality... Germans must act quickly to manufacturer out EU and reduce cost ama maintenance
BMW is a scam, I worked there in the 80's at a dealer, they stated they were going to a niche market in 87, they changed out the e28 for the crappy e34 American designner, the e28 had 10 years left like the 911.
Rich people are good with money. They always set a budget that they strictly stick to and set an investment goal every year to build passive income. They pay cash for everything including cars because most hate debt and mortgages. This builds many safeguards that shelters them from economic uncertainties like recessions. Being debt free, have passive income, and own a fully paid off property is a good example. The loud people making all the noise and want all the attention on the internet are the ones who can't stick to a budget and live within their means. They have very little net worth and are out there leveraging everything they buy including groceries, cars, cell phones, etc. I would even argue they make their purchasing decisions not based on a proper budget but solely on their feelings and what feels good.
@@revnation_auto it's pretty well insulated/rigged, i sense. It was my field for over 15-25 years. From '15/16 on i left it behind entirely, lost my passion for all things economics/finance for the first time ever.
Add in the long-term cost of parts, you are looking at a much, much higher pricetag, be it BMW, AUDI or Mercedes. Audi and VW are in huge trouble. Should be an interesting few years ahead for the luxury car market.
What people don't understand is the legacy manufacturers were making most of their profits in China. Not only that they are losing other markets like Norway and Australia Thailand Mexica all over the world except the USA and maybe Europe etc.
I worked in a large Gov't building in DC. The FBI walked a block down and arrested a Govt. contractor alleged to have double billed the US Govt. for 20 mil. The FBI handcuffed him and perp walked him a block back to their building. Now, on Sept 10, 2001, Fmr. Sec. Def. Donald Rumsfeld stated publicly that the Pentagon couldn't account for 2.3 Trillion. Now, admittedly, I'm bad at maff but, I do know that 20 million is way way way waaaayyy, less than 2.3 trillion. My question is, why haven't the big bad brave FBI gone and perp walked old Rummy? Please keep in mind the 2.e trillion is in 2001 dollars, not the super inflated 2024 dollars today. 🤔🤔🤔🤔
Audi’s and BMW’s were largely bare bones, however relatively nice cars in the 1970’s and reasonably priced. Not so reasonably priced anymore. You can only ride the coattails of a fancy emblem but so long.
Owning a BMW is not the flex (i.e. brag) it uses to be......people who flex moved to electric cars (Tesla, Mach-E, etc.) and many just buy well-built Asian vehicles and the flex is to do ALL MAINTENANCE EARLY and only fix issues QUICKLY with DEALER-BRANDED PARTS..... ....not hard to keep a Honda/Acura or Toyota/Lexus maintained if you make BMW-class money.
Though fun to drive, these cars are absolute junk. My X5 essentially blew the motor at 120K after being driven very modestly for years. It leaks oil from everywhere and costs $800-$1000 per oil leak to fix. Starter went at 90K miles, AC pump at 100K, motor at 120k. I would never buy a BMW again and at the prices now, I dont think anyone will be buying these cars for a while.
Gladly driving my well maintained 2008 lincoln navigator, no payments, all the way to the bank. Wouldn't spend more than $20,000 on a new car. They can keep them on the lot!
You are talking nonsense. Bmw leases 70 percent of their vehicles. They have not posted any incentives except on EVs. Interest rates have jacked up money factor rates which is why people don’t lease them or buy them anymore. A $120k m850i in 2021 was $976 and same car now is $1499 or higher.
No. Rich people are still rich. Its poor morons who thought they were rich that are in trouble.
totally AGREE
No, rich people may be rich, but wealthy people have the luxury of time, while sufficient funds to pay for things by not financing unless there are tax benefits to do so. There seem to be a lot of "rich" people where I live but a few of us are wealthy. They run themselves ragged making themselves rich while the rest of us enjoy the quiet luxury of multiple streams of investment income.
Yeah and the latter are the mass market for luxury goods.
It's not what you make, it's what you save / invest for the future "you".
@ Save more, spend less and don’t get ripped off. I earn income while I sleep , sit on the toilet etc.
Rich people lease those cars through their company so they can write off the payments. Sales are down because the middle class can't buy them anymore because the prices are out of reach.
The thing is you can go to a Ford, GM, or any CJDR dealership and see these same prices on Jeeps , Tahoes and Expeditions.
always buy US-made cars.. they are better and much more reliable.... (edit: sorry... can't even finish that sentence... I'm not very good at making up stuff) 🤣
@@S_Paoli I used to buy American. The cars were great, it was all the parts that made up the cars that kept breaking, even after a month. I buy Toyota/Lexus now.
@@tommrugala1513 I like how you think. Guess I was wrong to blame all the awful GM and Ford/Lincoln cars/SUVs that I owned before. They were excellent vehicles, but just had bad parts that kept breaking? :)
@@S_Paoli 😃Yep. ALL the parts.
BMW is having issues because they look extremely ugly after the new chief designer 🤡 Domegoj Ducek took over in 2018. Thank god he was finally fired earlier this year.
That guy sucked terribly.
They should have kept him on. He was doing a great job wrecking the company 😂
Probably he got hired by Jaguar! 😂
He is transferred to Rolls R.
LOL they DO look ugly
Rich people aren’t feeling the pain. It’s the people who want to give off the illusion of wealth who are suffering. Yes sales in China are down, that’s not a reflection on BMW and Audi alone. All the foreign manufacturers have experienced a drop in sales.
Car makers have
abused their customers for a long time offering cheaply made expensive "premium" vehicles that are impossibly expensive to buy and maintain.
"Rich" people don't use credit and leases to purchase luxury autos. I suspect this is more fallout from the impending credit collapse.
The only time I would consider leasing a car would be to use it as a business tax write off.
I work at a major company corporate office. Many, many six figure incomes, some seven figures. Most lease their luxury vehicles.
Why? Because they know how to lease well.
BMW, Benz, VW and Audi all overpriced and bad quality. Let them sit and eat it. Good video!
you haven’t been out there shopping for a new car lately , haven’t you?
So says a guy clueless about BMW.
@@jerrylundegaard2592 latest reliability ratings have BMW rivaling Toyota...so there's that...
@@johnadair6108 only bcuz toyota is having their first hiccup in their entire history!
The problem with vehicle manufacturers like BMW is they charge high prices for their vehicles, then hit you with ridiculous prices for parts. I hate manufacturers that do that.
The major problem is their overpriced cars and the stupid path of going down the EV road.
What is up with calling successful people "scumbags with money?" We live in a capitalist society and as such there are many hard working people who through their savings and investments and/or entrepreneurship have been rewarded financially. Villianizing successful people for buying a luxury automobile just sounds like sour grapes at best.
Do you think making a short video with a stupid opinion makes you smart and special? People like him just cry around if is not able go get something nice … Idiots everywhere😜 Sometimes economy is going down… good timing for smart buyers😜
The commentator is clearly a bitter/ angry man.
Agreed! I work hard, have diligently saved and invested for many years, and was happy to buy a new bmw a couple years ago. So that makes me a scumbag? Some people will always be envious….
@@seanm3ify I was stunned
Haters will hate!
This will always happen when you try to GROW way to fast. All German car companies make too many models, get rid of the BMW 1's and the 2's. cut some out of the others, or loose your company. This is why the resale price is terrible. Audi is a very temperamental car. Repairs will kill your wallet. VW stay away!!
Resale price is terrible because that's what their actually worth. They sell for what the engine is worth. They are a crap shoot. One can last another 100k or 1k no telling how they have been cared for and being maintained by the dealer means nothing. They only maintain them ok enough to get thru warranty.
The BMW X1 is actually the BMW entry-level vehicle and is actually the most reliable model they make. The X2 is basically the same vehicle just smaller. If you want one 2019 and up rate pretty good for reliability. One of the issues with BMW is they charge a lot for parts.
I hate BMW! I don't know what I was thinking when I bought a new unreliable 325i in my 20's, which I kept for 11 years. And then here I go again, trading in the 325i for a new X5 right after. Both cars were so unreliable and the costs to maintain and repair was astronomically unethical. Both had electrical issues too. I missed so much time at work taking these cars at the BMW service center BMW's are junk. Do not get enticed by the design.
I have had many brands over the years. Later model BMWs have been the best. Current BMW is five years on the job. The only costs are a new set of tires from a local tire shop, a couple of oil changes at the BMW dealer ($100 each) and a defective rear signal fixed under warranty.
Other solid brands have been Honda, Toyota, Mazda.
The worst brands have been Ford, Dodge, Kia and VW.
Some people golf.
Sounds familiar
I had same miserable experience with Audi. The last straw was an expensive avant A6 that mechanically totaled itself at 48k miles. And fan boys don't dare to tell me I didn't maintain it. I lived at the damn dealership for regular maintenance and all the issues. Finally dumped that pos in order that I didn't lose my IT job that afforded such a car. Bought an Outback and a Lexus and now live a life of vehicle peace with zero non maintenance trips to service. German and Euro cars are low quality excrement!
@@ivanvarykino8202 Hey Thanks for validating these POS German Cars. I wanted an Audi S5 or S6 until a friend who owns one advised me that it was worst than BMW.
I drove a Lexus GS 350 after the X5 for 14 years and had no issues until the 15th year. Now, I drive a Toyota Camry. Though it's not my ideal car, its definitely reliable for the time being until I can figure out which SUV I want to trade it in for in a few years time. Thanks.
And don't forget, $250 just to start having BMW look at your vehicle
friend of mine just got quoted $650 from a dealer to replace a window motor on old Buick , he did it himself for 60 bucks … $250 won’t get you much anywhere , not just BMW
@@damirzanne exactly! regular car repairs now are unaffordable, at any shop, even w/ used parts! It's rapidly become difficult to own a used car!
I remember seeing my first Lamborghini countache on Rodeo Drive in 1987. The price was $100,000 and I thought it was madness. Today the average car is that price.😂
The average car is half that.
@@wizzyno1566 The average truck is $75,000. That was Porsche 911 money in the 90's...
That's almost $285K in today's dollars.
What that should tell you is you need to study how the government has diluted the money value over decades. All Fiat currency is losing value, some faster than others, start looking into hard assets like bitcoin and gold for wealth preservation and even wealth building when it comes to bitcoin
@@petrolo72👏👏👏👏👏👏👏👏👏. I’m glad somebody on this chat gets it. You can either make videos calling rich people names or you can study and get rich yourself.
BMW - Bring My Wallet
Big Money Wasted
Break My Wallet
Bring Mommies Wallet
@@sydbarrett1146 oh that's a good one!!!! Fits most BMW drivers to a tee!!!!
Big Mexican Wiener
What is your issue with wealthy ppl?
His point about a billion dollar company can get tax breaks and bail outs from the government, while the working class gets treated differently.
I support capitalism and hard work. Handouts and unfair advantages are neither of those.
@@revnation_auto I apologize for my previous comment. I understand and agree with you 100%. Rivian is a company that deserves to go under and the government has no business giving them our hard earned tax dollars. I couldn’t agree with you more. Again, I apologize for speaking before watching the whole video. You are 100% correct.
if you don’t want to pay 50K for BMW SUV , you can always go get a Jeep Gladiator for the same price , or if $140K sounds too much for loaded BMW 740 , you can get a nice Dodge pickup truck for about the same price … average car price in US is around $50K … and if BMW crashing profits are bad, think about 1000 workers who just got fired by Stelantis at Wrangler assembly plant…
You are so correct..😜 Some folks just cry becouse they know they are not able get one… My 20yrs old Buick gets me from point a to b 😂😂😂 Since when they think they are smarter just because they can’t afford shit?😂😂😂
Thanks for the reporting rev, keep up the good work.
I think that as usual there is a massive confusion between "wealthy" and "rich". As a wealthy person, purchasing a car is not a big deal. Once the details are ironed out, I call my advisor to wire the funds to the dealer. I think that what appears to be "rich" people buying expensive cars and things are high income earners living paycheck to paycheck. That is not how the wealthy live.
😂 piss off.
I couldn’t agree with you more. Also, there’s nothing wrong with being rich or a high income earner buying things that you want. People who make these videos and refer to successful people as scumbags, etc. etc. sound extremely childish and sounds like they are not where they want to be in life and are looking for others to blame.
You lost me at 28 seconds in when you called people who can afford a BMW ’aholes’. People who can afford more expensive things in life are keeping many people in employment, just in case you didn’t know!
Haha so tone deaf and out of touch with the American people you are. You must be a "rich" person. Lmao
Funny that. My subconscious mind just seems to do that all on it's own.
If German car companies are truly suffering, it’s only because of their reliability shortcomings. If they offered consistently reliable, luxurious, and non-gimmicky vehicles, they would sell. Lexus has no problem selling their luxury vehicles because although they are not the most exciting, they are some of the most reliable.
Porsche has no problem selling their super expensive sports cars either. They are reasonably reliable, luxurious, and down right exciting to drive. They have a good formula going.
Rich people vs wealthy people are very different.
I don't see your correlation with rich people and this car market. Most of the people that I know that have money want to teach other people how to do the same thing. Rich people buy time, poor people buy things and ambitious people buy knowledge.
This man sure sounds bitter about being broke. I think he needs to lift himself up by his boot straps. Put down his phone and get to work...
I don’t care how much money you got. You can’t buy time. Your money won’t save you from the grave.
Plllleeeaasse...People with money have money because other people dont have money. You are delusional and a fool....I know people with money as well and the last thing they want is other people having a financial upper hand where they could potentially be their competitor...
Anyone who pays thousands for these piles of trash has got serious mental issues..
They’re crap for sure
What most people don't understand is the people who buy these cars do it for tax reasons. Waste it on a new BMW or give it to Uncle Sam. They are paying very little for them in the end.
Btw. Audi is not just a Volkswagen because it uses Volkswagen parts it also uses Lamborghini parts. That doesn't make it a Lamborghini either. This guy is slow.
@@revnation_auto why, because you can’t afford one?
I wonder how come you are not in a hospital with mental issues …
NO BAIL OUTS!
Yep, let’s keep calling them out.
Was just filling up at Costco, Premium was $ .70 more a gallon, insane. None of these care are worth a damn. WAY, WAY over priced
If you worry about that $.70 a gallon, a BMW/Audi is way beyond your ability to buy.
Rich people generally buy reliable vehicles like previous generation/older Tacomas and 4 Runners. That's how they got rich, by saving money and making good decisions, not buying these overpriced throwaway modern cars.
Exactly. There's a lot to be said about sensible practical motoring. Percieved brand superiority has reached the end of the road due to an overtraded car market, unnecessary and unreliable tech pushing up prices and obscenely poor quality. I predict lots of IMPLOSION on the cards for 2025. Too many models and brands out there competing for a limited customer base and now the EV farce has entered the stage. No happy ending by any stretch of the imagination.
I love my BMW. A 2006 F650GS motorcycle I bought from a Craigslist add for $3,000. Perfect bike for the last 5 years.
German cars are high price and high maintenance. Buy at your own risk. Only if you have $$$, otherwise it is impractical for regular middle class consumer.
Just like about any other cars , unless you want a Nissan Kicks or Corolla … try to take your car to Buick dealership and see what happens… or any outer dealership for that matter
Most of the people with new ones are leasing. Audis out of warranty are terrible and expensive, Benzes are expensive. I have no ownership experience with BMW and probably never will…
It all depends… you can say how lucky you are with your model. My wife drives Q7 , 80k mile and not one single probl. I owned an X 5 diesel for 10 yrs. not one single probl. i sold it with 100k mil. I bought a 428 series with around 30k miles after 4 yrs i sold it with 75k miles on it and i never had any issues. 5 mo ago ai bought for Half price Pre certified , still under warranty M850 my new lover . Paid $65k only 9k miles… Different opinions…
I looked at new BMWs when I took my car to get serviced. They had very few to choose from. The only ones that don't seem to sell is their EVs. BMW doesn't need a bailout, the reasons their profits are down is because of what is currently taking place in China with EVs. The Chinese have basically stopped buying American, European, and Japanese cars. Causing plant closers there. The BMW plant in Spartanburg SC, employs thousands of people where most of their SUVs are built. It is because of rich people those who work at that plant have a job, even if they can't afford the cars made there. So before you wish the worst for them, at least care about Americans who will suffer if BMW goes under.
No matter what- the all consuming Chinese Dragon has set it's eyes on destroying the industry for their benefit alone.
Hope ppl are realizing you don’t need to spend 100k for a vehicle you will be tired of way before it’s paid for. Then it’s worth nothing
If your not writing one of these cars off as a business expenses you have no business buying one. If you do. Your mathematically challenged.
Well, if they built their cars to last more than 24 months, this probably wouldn't be so bad for them. The world will be just fine with no more BMW/drivers...
Billionaires are the problem. Mass market luxury customers are not the problem.
Game over ! Get an electric bike !! No insurance , no gas, no parking tickets !!
Depends on where you live. Where I live in Texas the police hate bicycles and will take any chance they get to ticket you. Seen another mugshot recently where a guy got arrested on sight for running a stop sign and riding on the left side of the road. Riding on sidewalks is also a ticket and so is not having a front white light and rear reflector. On top of that there's no bike lanes so you have to be smart not to get run over and then there's the high crime rate so you have to carry a loaded gun and be ready for the worst. Thinking about selling my ebike and maybe I'll start riding again when I move to a bike friendly state.
I'm on the outskirts of Houston and have a 33 mile commute one way usually but I can work at various locations closer to further away up to 60 miles away. Of course I'm not justifing a BMW, I'm driving a 20 year old beater. What I am saying is it that it would be impossible to do my job effectively and dangerous if I tried to do it on an electric bike. Bikes only work if you have short commutes in the inner city, you don't need to have passengers ever, and don't need to haul anything more than a backpack which applies to a small subset of the population.
I'm too old to ride an electric bike to get groceries...
@@woooose are u exaggerating/?? wtaf? i did not know that about TX, if true! Pls try to gtfo of that is fascism central if it's that bad, holy shit..
Just a note that many responses on here REFUSED to mention or either they are not smart enough to figure it out. Not every BMW consumer is Rich, many of them are typical working class that are trying to impress someone they don't know with borrowed money.
My daughter’s mom ran the finance division at a large BMW auto group. The vast majority of their customers are what would be considered rich.
or just someone who wants to enjoy the car of his youth dream
Audi- the worst decision you will ever TRY to keep running. Our Dr. had one that sat and rusted in his back yard because mechanics could never find why it wouldn’t run. We also had a little used gas saving Audi, it was in the shop so many times, we traded the @#$%^ thing in on a used Toyota , no trouble w it at all!
Sorry if my comment doesn’t really fit your topic. Just venting here, hoping i can help someone from getting taken, even on a used one.
Most of you here who criticize the content producer for his qualms with the elite class, Ceo's, and assett management firms are too naive, unintelligent, and apathetic to understand what Blackrock is , ESG, who Larry Fink is, and most certainly what Fink's early life history is....
i can't recall Fink's early life history, pls inform us!
@@18_rabbit Google Larry Fink's early life history on wikipedia as well as Rob Capito. Honesly all of the ceo's except one share the same early life history. I cant share the results here or otherwise the information will get deleted. Hopefully you can pick up on the pattern recognition and not try to deny the significance of the information.
Maybe it's just ordinary people who used to drive these cars when they were more reasonably priced and often discounted saying no to out of control inflation. In a representative sample of one, I paid £34k for a new 320d in 2018 and then 5 years later I was looking to replace it and a new version with the same spec came out at £51k. I'm quite sure the new model was better but it's just not a price I could or would pay so that was the end of that. 50% price inflation in 5 years, if only my own money worked that hard.
precisely! global mkt ,same here in the US, even w/ low end brands, japanese in particular, the prices and segments jumped up dramatically.
The prices you quoted if the $$ just to get into one of these things…. Then u have ALL OF the other expenses…. The higher octane fuel, maintenance visits, PARTS( if you can even try at being a shade tree mechanic)…insurance!
Insane numbers…
just think about it this way: even the final non turbo BMW straight six engines were so complicated that u cannot find a mechanic here in the US who has the skills to change out a little vital part called the Vanos spring. Our nation is not competent when it comes to euro cars repairs/overhauls etc. It's not practical any longer to own them here as used cars.
I think you are spot on. The cars are full of glam and glitz that costs a bundle, fails often and serves little use. Then it costs an arm and leg to get any of it fixed. Cars are a product gone crazy.
We're now in some very strange territory where the old Chinese curse applies "May you live in interesting times" All of the wannabe endless status seekers, the fake rich (not the truly rich, they have more sense than this current lot.) all getting their comeuppance So, now we are truly a 3rd world country with a Gucci bag, although that's probably fake
Going to HELL IN A HANDBAG resonates here. Well said.
One of my friends just bought an X1. He's a real estate broker in New York and he's very busy. He does deals from $500K to $20 million and a lot of wealthy people have been moving out of the city. He bought his old X1 in 2018 and has had some problems with it. He loves the car though and is just getting a replacement. I'm shopping for a Camry myself but am in no particular hurry.
I don't understand how. I seemorr and more regular people driving these very expensive cars
Don't know where you are, but BMW sales are still hot. My local BMW dealer is still churning out 400 cars a month. Selling like hotcakes.
You have personal access to their sales records, or is that what a salesman told you?
@@dchawk81 A former colleague of mine when I was working at a Honda store, is now the GSM at this particular dealer. Car sales still hot.. Toyota across the street selling around 500 a month as well.
These BMW's just like Jaguar and Range Rover/ Land Rovers ( I had a hard time even remembering the exact names of those last two turds) are absolute maintenance nightmares waiting to inevitably happen. They've got more sensors, ECU's, and relays than the international space station and rest assured they are going to go wrong and usually it's far sooner than the idiot drivers of these ever imagine. Generally when it does happen the amount of money it costs for a goofball mechanic at the dealership to fix or replace it all makes even the most strident trust fund douchebags that buy these "vehicles" wince at the price. This ultimately gives the owners a dose of reality that they really don't have near as many shekels as they thought they had...
Those large kidney shaped grills 🤔 Believe they evolved from the Chinese market, lol.
No, I don't feel for any of these corporations; they're all predatory and this is what happens when all of the money is funneled to the top. It's those who thought they were well off who can no longer afford these. The rich don't purchase enough to sustain any of these brands except perhaps the likes Rolls Royce, Ferrari, etc.
Problem is that all these cars are too expensive. Why? Because they is too much electronic inside, that maintenace is expensive. Why? Because EU demands mostly this electronic because if security.
I don't know if you have been paying attention, but the rich are doing just fine. A big problem for BMW and the like is that the aspirational middle class is not feeling as good about their prospects with the IT sector shrinking and AI starting to threaten whole categories of high tech employment. German luxury has also been a victim of its own success...these cars do not look or feel all that special. Tesla has taken a bite, for sure. But where the BMW 3-Series seemed like a rite of passage not so long ago, they seem invisible now.
So, as we are going down the rabbit hole of just casting most as these cars off as junk….
I bought an A6 3.0Tdi Quattro Le Mans brand new in 2006. I paid £56k for it.
I still drive it to this day and in 18 years of ownership, apart from brakes and tyres and oil etc, it has cost me less than £2k in parts. It’s STILL running its original lead acid battery although it is tired and needs replacement.
Junk it is not, it’s the best car I’ve ever owned which is why it’s still in the garage. Reliable, economical, powerful, fast and starts in the button every time.
The cost of manufacture in Germany since the US torpedoed Nordstream (which I fully agree with), as well as labour costs etc is making building German cars anymore uncompetitive.
Like already said, don’t think the rich are taking a bath in these cars, most of them are end of lease, they’ve already passed off the debt or written it off.
I am by no means rich or wealthy, and I have nothing against rich or wealthy people, nor poor people. I happen to not like BMW’s because of how they look and the image they convey, but some will say the same of Audi owners.
A lot of these cars will end up under the hammer at auction for a lot less than they are up for now. When they do, go grab yourself a bargain.
Not Rich People , but the well off Middle Class , people who buy an Audi or BMW .
i've owned a couple of audis over the years. i used to think they were for the rich. funny that what i used to think was for blue collar workers like pickup trucks are more expensive than some of the top of the line audis. probably more reliable too. my q7 rs is worth next to nothing compared to what it cost new. had multiple issues throughout the warranty period. still making expensive repairs out of warranty still under 100k miles. i will basically buy the car twice. they are vehicles to make you broke more likely.
My 2009 528i has 175K miles on it and still purs like new. Which is why i was confident in purchasing a preowned 2021 X5 40i last year. Not rich but have great credit score and saved over my 40+ years to afford some (overpriced) toys.
Buy used, if you need to buy at all. Only way to make it in this economy.
The servicing costs on those pigs is insane as well. They drive nice for sure, but for how long? The only one I would consider is the M340i. Turbo straight 6. Pretty stout motor. They use to the 530d for highway patrol in Australia and even 2nd hand flogged out ex police beamers have stupid price tags on them at the dealerships. I'll stick with my V6 Camry 👍
I just drove the M340i. It’s slow and not very fun at all. Its suspension can’t handle its weight properly. Cornering was a joke. The interior wasn’t very premium. I’d go with a standard 540i.
They do make very good very detailed service manuals for them and you can buy tools at the store. Just saying.
Your V6 Camry is now a classic. They are all fours now.
@@movdqa there aren't many in Australia either. Only 4% of all 2018-2021 Camrys sold had the V6. The first one I bought was totaled by a runaway bus. Took me 18 months to find another one in similar condition. But they are smooth comfy cheap and made in Japan. Worth hunting down imo. I'm looking for another one for the wife.
I agree with you wholeheartedly. Also, crazy how pick-up trucks cost about the same these days. Nothing is reliable. Everything has smaller motors with engine killing turbo & super chargers on them.
yeah , ford.. i'd never buy those turbo v6's. What trash
Most luxury cars are leased for three to four years, after that you can buy these used, look for a low mileage, one owner, full history report, sometimes you can find one for 60% off the original price! Just have to do your research!
Not sure what your issue is with people that can afford to buy luxury cars. The pain is a ripple effect - BMW has invested over 3 billion into SC and employees 23000 workers... all of whom will feel the pain if production slows down.
Good content! I like how direct you are
Own 2000 Silverado crowding 1/2 million clicks that I bought from original owner in 2002. Paid for 10 times over, faithfully serviced and rust proofed and doesn't miss a beat. Zero carbon footprint and zero negative equity.
cant imagine letting a car just sit around for a year would be good for it . these should be discounted 60% +
I'd love to see Merc, BMW and Audi go so broke that they learn how to make good, reliable cars again instead of making engines out of plastic.
The reason BMW and VAG are having those massive losses is because the Chinese market pretty much collapsed. As Evergrande and Market Garden started piling on huge losses following the institution of the Three Red Lines, Chinese people lost their sense of economic security and started hoarding their cash.
As a result, big ticket items, from designer labels to premium car brands, are seeing their sales evaporate. This is a tsunami that got started about three years ago and is now hitting the shore.
The German car companies have become fools for tech & hype. Back in 2003, I leased a VW Golf 4-dr. auto. TDI. Fantastic little car, the Diesel got great fuel mileage, cruise at 75mph & get around 42mpg, go through snow drifts, started every time even when it was really cold. Turned it in for the bigger engine & all I got was salesman crap. Wouldn't deal, "...car is pretty rare, we don't have a lot of inventory..." etc. Then there was 'TDI-gate', which was more about internal VW politics & I said 'never more'. From there, German car reliability took a down turn. I won't consider another German car again. That Little TDI Golf was fun, I miss it!
I’m a rich asshole. I don’t have a printing press. I’m
A scumbag too.
Don't be so hard on yourself. 😆
That’s hilarious!
And on top of that i own 4 german cars😂😂😂 Q7, Porche Cayenne and 2 BMW a 7 series and my new lover M850 😂 What’s up with that??? And i sleep perfectly fine.
not to mention greedy car companies wanting to charge subscription fees for some features such as seat warmers.
Most rich people aren’t driving these vehicles. They drive Toyotas and Hondas! It’s people that can’t afford these luxury vehicles anymore that can no longer finance them.
Wonder if BMW will drop its plan for subscription based services like heated seats?
I own a BMW and an Audi A5, saved up, paid out right, no loan, no lease, no EV crap. Thats how you do it.
There is absolutely no reason to hate on people during hard times.
My opinion is,...the dealerships have gone rogue! They make more profit than the OEM! I see a nasty market correction coming for the dealerships,...this cannot go on!
Many automakers have lost so much on those EV clown cars so they are trying to make up for the losses by raising prices on everything else…
Exactly what's happening in REAL TIME. Backed the wrong horse & now scrambling to stay solvent.😊
You can always just buy an old BMW if you like the feel of the ride. They are just like you said junk, like every other car.
lol. No the avg person cannot do that at all unless they have a great shop who is unusually skilled and affordable, and even then, for most ppl, the repairs and overhauls will make it unpleasant or unaffordable. Everything changed in the past decade re this.
BMW used to make very driver oriented cars with (mostly) nice design.
Now it's just the automotive equivalent of a designer clothing brand
Its clearly due to super high labour cost , high energy cost that is in Germany...
Take look at latest chinese luxury cars.. they r far far superior in quality and cheaper.. here in India also mahindra released EV that has all bells and wistles... rock bottom cheap to maintain and they r very good quality...
Germans must act quickly to manufacturer out EU and reduce cost ama maintenance
The X5 is the best car BMW make
I owned an Audi Q7 diesel Maintenance nightmare, easily spent the cost of the car over on repairs over 7 years
Yep, that’s why I’ve avoided them
My 2001 Audi 4 was a tank. Amazing car. No idea what the new ones are like.
After the millennium it's been a downhill ride.
I‘m not rich, but why are you calling rich people “scumbags”. Lot of them have work hard to accumulate wealth.
BMW is a scam, I worked there in the 80's at a dealer, they stated they were going to a niche market in 87, they changed out the e28 for the crappy e34 American designner, the e28 had 10 years left like the 911.
Rich people are good with money. They always set a budget that they strictly stick to and set an investment goal every year to build passive income. They pay cash for everything including cars because most hate debt and mortgages. This builds many safeguards that shelters them from economic uncertainties like recessions. Being debt free, have passive income, and own a fully paid off property is a good example.
The loud people making all the noise and want all the attention on the internet are the ones who can't stick to a budget and live within their means. They have very little net worth and are out there leveraging everything they buy including groceries, cars, cell phones, etc. I would even argue they make their purchasing decisions not based on a proper budget but solely on their feelings and what feels good.
Brother, just wait when the stock market crash to rock ‘n’ roll😂🎉
Fingers crossed
@@revnation_auto it's pretty well insulated/rigged, i sense. It was my field for over 15-25 years. From '15/16 on i left it behind entirely, lost my passion for all things economics/finance for the first time ever.
I’ll bet your living in your parents basement. Your bad attitude keeps you from enjoying life .
Add in the long-term cost of parts, you are looking at a much, much higher pricetag, be it BMW, AUDI or Mercedes. Audi and VW are in huge trouble. Should be an interesting few years ahead for the luxury car market.
What people don't understand is the legacy manufacturers were making most of their profits in China. Not only that they are losing other markets like Norway and Australia Thailand Mexica all over the world except the USA and maybe Europe etc.
I worked in a large Gov't building in DC. The FBI walked a block down and arrested a Govt. contractor alleged to have double billed the US Govt. for 20 mil. The FBI handcuffed him and perp walked him a block back to their building. Now, on Sept 10, 2001, Fmr. Sec. Def. Donald Rumsfeld stated publicly that the Pentagon couldn't account for 2.3 Trillion. Now, admittedly, I'm bad at maff but, I do know that 20 million is way way way waaaayyy, less than 2.3 trillion. My question is, why haven't the big bad brave FBI gone and perp walked old Rummy? Please keep in mind the 2.e trillion is in 2001 dollars, not the super inflated 2024 dollars today. 🤔🤔🤔🤔
BMWs don’t come with turn signals, as I have never seen one on the road use one
Maybe 60.000 instead of 90.000 for that x5 then some people can afford
Audi’s and BMW’s were largely bare bones, however relatively nice cars in the 1970’s and reasonably priced. Not so reasonably priced anymore. You can only ride the coattails of a fancy emblem but so long.
Owning a BMW is not the flex (i.e. brag) it uses to be......people who flex moved to electric cars (Tesla, Mach-E, etc.) and many just buy well-built Asian vehicles and the flex is to do ALL MAINTENANCE EARLY and only fix issues QUICKLY with DEALER-BRANDED PARTS.....
....not hard to keep a Honda/Acura or Toyota/Lexus maintained if you make BMW-class money.
Price is a problem but the loan and financing is a bigger problem and maintenance is really a problem
Though fun to drive, these cars are absolute junk. My X5 essentially blew the motor at 120K after being driven very modestly for years. It leaks oil from everywhere and costs $800-$1000 per oil leak to fix. Starter went at 90K miles, AC pump at 100K, motor at 120k. I would never buy a BMW again and at the prices now, I dont think anyone will be buying these cars for a while.
Yup just got $17,000 off on a brand new 2024 BMW X5 as clearance on black friday sale with 0.99% APR on a 5 year loan. Excellent.
Too expensive to repair. You can't take it to a regular mechanic, unless advertised.
if I go look around the dealer's lot, how do I determine the number of days the car has been sitting on the lot? Thanks!
1:06 Shows a 2025 i4 that has only started arriving at dealers in the last month, says it's been on the lot for 212 days.
That’s a 2024 mate.
@@revnation_auto The grille and headlights are from the refreshed 2025. 2024's had horizontal DRL's. 2025's have vertical.
Gladly driving my well maintained 2008 lincoln navigator, no payments, all the way to the bank.
Wouldn't spend more than $20,000 on a new car.
They can keep them on the lot!
Excellent perspective and fine advice
You are talking nonsense. Bmw leases 70 percent of their vehicles. They have not posted any incentives except on EVs. Interest rates have jacked up money factor rates which is why people don’t lease them or buy them anymore. A $120k m850i in 2021 was $976 and same car now is $1499 or higher.
When you lose 90% of your profit and don’t offer incentives means that you have some sort of “reassurance”. There’s bigger issues mate!
Most I pay for any car nowadays is 50K total tax, loaded, extended warranty, registration out the door