Way back when the term limosine liberal was applied to well-off Vietnam War protesters, particularly those from the arts and moneyed backgrounds. I seem to recall that Leonard Bernstein was stuck with this label for a while. This may be the term your friend was thinking of, maahey. Obviously this was the pre-Lexus era. This term still crops up, as witness these quite recent citations:

The dust cover says Mr. Katz owns a home in Pennsylvania and a home in Maine. Another hypocritical limosine liberal!!

While it is generally known that Limosine Liberal Paul Martin owns Canada Steamship Lines, a great shroud of secrecy surrounds the details of his company.

If Barbara Streisand wants to look like an ass in front of her limosine liberal friends, more power to her. I just would like the media to not tell me about it.