Luxury Vehicles and Happiness

An exciting new purchase may not be exciting for long, and the people around us are also seeking out positional goods. A fancy car feels less fancy when your friend gets a nicer one, and people are in a subconscious arms race to have the nicest stuff.

This hedonic treadmill of conspicuous consumption is difficult to escape. An important question is whether people with luxury vehicles actually enjoy their vehicles more.

Referenced in this video:


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[richlane]

Just my view but I really admire folk who don’t spend to impress and have a humility about them. Great video Ben.

[jps]

"Having is not so pleasing a thing as wanting." -- Spock

[ohedd]

The exception to this is car enthusiasts, who enjoy the cars not primarily for their quality as a positional good, but for their quality as a collectible.

[flewelling]

Lucius Seneca figured this out 2000 years ago. "At last, then, away with all these treacherous goods! They look better to those who hope for them than to those who have attained them. If there were anything substantial in them, they would sooner or later satisfy you; as it is, they merely rouse the drinkers’ thirst. Away with fripperies which only serve for show!"

[jimma]

I am in China, and buying a Luxury Vehicle means something more than a driving experience, which is also an investment. Many or most small business dealers will simply judge your wealth or the company simply on cars. SO, buying a luxury car is like an entrance ticket to a business environment, even it sounds so stupid.

[robpole]

Most people live their lives based on envy. It's not only luxury vehicles. Do we need a 4000sq ft house for a family of four? Great video!!!

[Weedsethesecond]

It is quite fascinating to watch Ben Felix gradually developing himself from stock market guru to evidence based happiness coach. Great content as always!

[hussamg]

Always great to get your views on various topics! Hope you can create more videos

[curtismeyer]

I very much enjoy mine. Which is an upraged model of a car I had previously. The ride and comfort is better. Then there is the aspect of going for a “fun drive” don’t have to worry about those who “ don’t want to let you pass” as the power in most of these cars superceede most cars on the road. His is the positive driving experience for me.
The negative experience is the maintenance cost. Oil changes are stupid expensive comparatively, fixing a broken xxxx is more than 5x. Insurance is almost 2x. Tires are 2-3x.
I will say I did not buy this new and with vehicle depreciation I would never buy new. But it as a dream car for me. I would not change that experience of finally experiencing it but will take greater caution in 10 years when it’s time for a newer vehicle

[JRvillablancademendoza]

WOW!!! The last sentence you said was …. 🤯 I wish I could be as articulate as you so I could help educate my friends around me!!!

[ChaosDarkLight]

Finally finished binging all your videos!

[KingDrewPhilip]

I got a Lexus IS250 last year just to flex. Just kidding, I really needed a car because my 2004 Toyota Corolla broke down at 320k miles. A relative of mine had a 2009 Lexus IS250 and I purchased it in full. I think this luxury car that I have now was worth it because it’s still very reliable as it truly is just a Toyota. What an upgrade from my old car as well. This car feels a lot stronger and more powerful. Like driving a tank, but not really… it’s just built very well.

[tjblondski]

If you can buy “luxury” without putting a financial burden on. Then yes! Buy luxury.

[Deltaangle]

I agree with this video although I think there is a point of diminishing returns In terms of happiness with regards to a vehicles quality. A piece of junk will cause plenty of stress independent of hedonistic adaptation. But a brand new Camry will likely bring about a similar amount of happiness compared to a brand new Cadillac, especially over the long term.

I believe vehicles that bring about experiential benefits like motorcycles can certainly be a good investment in terms of happiness. Experiences such as exploring beautiful riding destinations and relaxing Sunday cruises can be hard to quantify, but they certainly don't get old.

[landongendur]

Still driving my 2008 RAV4 with 177K miles on it. The tire pressure need topping up every few days & it burns oil, but there's no way in hell I'm getting anything different in this crazy 2022 car market.

[blackattack]

As a guy who went from a barely functional rust-bucket to a fancy Mazda6, I NEVER take it for granted.
So maybe it's the jump from decent car to luxury car that's not so grad. Happiness plateaus and status quos and all that.

[ps-dnce]

Well, the "Millionaire Next Door" author died in a Corvette, worth probably way more than $35k.

Thank you for your advice, Ben Felix. I want a Volvo.

[zclaus]

my poorer brother wants to buy a new car cuz he wants the experience of "owning something new." i think this video would apply to him too

[videoforum]

Driving 2009 diesel renault and im having a blast

[TheRealThunderTurtle]

This is the exact information I was in need for.