You know something's wrong with this country when even a humble doctor can't afford to drive his Maserati down to the country club for a restorative afternoon out on the links.
Outliers: Even doctors are being driven out of luxury leases
Two years ago, according to an analysis by LeaseTrader.com, it was real estate agents and executives at financial firms who most often were turning in the keys to their premium, high-powered sports cars by claiming poverty. Perhaps this was related to the fact that the worldwide financial collapse was caused by the combined actions of these professionals in real estate and high finance.
But if the fast clip of luxury-car lease-endings in 2008 was triggered by bad karma, Outliers has to wonder what doctors have been doing recently.
For 2010, LeaseTrader.com reports that 54% of doctors trying to escape luxury car leases claimed “financial reasons” for doing so. Has all the recent criticism of secret payments from Big Pharma dried up doctors' driving-around money? Are physicians preparing for the worst case if the “doc fix” to Medicare physician payment formulas does not pass the House this week? In any case, LeaseTrader.com notes in its news release that financial executives appear to have regained their former luxurious ways, as the number of lease exits for financial reasons among bankers is only half in 2010 what it was in 2008.
Outliers would suggest that some of those Wall Street titans consider buying their old cars back from the doctors instead of buying new. After all, who knows if the now-blooming “robo-signer” mortgage fiasco will again bring the economy to its knees.
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