I would think so, but out in the boonies where I live most people cannot afford to make their car into a status symbol. Here in NM, the car-as-status-symbol means something rather different than in the rest of the country. Here, an old luxury car with new paint and possibly a portrait of the Virgin Mary is pretty rich fare. A lot of cars have large decals in the back window that read like tombstones: "In Memory of Consuelo Gonzales, 1969-2007". One guy in town has a glossy black 70s-vintage Buick with bright gold hubcaps. Another guy has an all-gold Cadillac, and it really looks like gold, not gold paint.
I imagine these cars convey a lot more than just status, and I'd be surprised if they were expensive. Out in the boonies where I live, not many people can afford a rich import that the local mechanic can't work on. Even in the big metro area to the north, the fanciest you get is the odd BMW, the occasional Porsche. Until visiting Chicago I hadn't seen an Aston Martin in the flesh, for instance.