A Ferrari or a super lux pickup truck for a guy who never hauls anything, however, is an entirely different matter. Oops, no they're not.
Opulence, luxury, and excess all may stem at least in part from a need for significance in comparison to others; e.g., fancy tail feathers. So if we know that, why do we play the game anyway? There's more.
It's unlikely that we would say to ourselves, "I want to look really cool, so I'll spend the extra $30K for a really cool-looking car." More likely, we'll generate a list of reasons for why this or that more prestigious brand-name item is a better choice than the reasonably priced equivalent. We justify such choices more on our wants than on our need, perhaps. Enough isn't enough, more is better. True? Yes, that's another part of the equation. We all do our version of that sort of thing.
A favorite fellow in Spain recounted for us how his stateside sponsors had raised money and bought him a nice Volvo. He drove it briefly, but noted that it set him apart from the regular folks he wanted to serve; they didn't know what it meant that he had this really exotic (to them) car, but it was a wedge between him and their world. He sold it immediately and bought a normal, boring sedan for his family and went back to being among those he served. Interesting choice.Want a better use for your money?