I've de-badged my 135i then put a hardly visible (black on black) ///M badge in its place.
I live in an area where theft is particularly low - so there's no logic here!
I debadge for two reasons:
1. Not to advertise that it's the top-of-the-range model. If you know your BMW's you'll know it's a 135i from the bumper & mags, but for everyone else: There's no need to advertise what I know I've got.
2. It's easier to clean.
I put ///M logos front back and side:
1) because I like them
2) as a subtle warning to other motorists that I'm a hoon,
3) because it pisses M3 drivers off.
I don't see it as 'pretending' to drive an M, since BMW is now putting them on every car they make. (Why BMW, Why?!)
Honestly, I'm considering removing them for exactly the same reasons.
If you buy a de-badged car, it's going to cost you about $20 on eBay to get replacement badges and put them on yourself, so don't loose any sleep over it.
... but to honestly answer your question: We all do things sometimes that defy logic. Any attempt to justify our actions is really just finding excuses.
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