Which Cars and Trucks Do Wealthy Americans Drive?
Market research firm MaritzCX found some surprising results when surveying the car-buying habits of the wealthy. Namely: Those earning more than $200,000 a year prefer driving the Ford F-150 pickup truck over the Audi R8 V10 Plus Coupe or the Lamborghini Huracán LP610-4 Spyder—the top two luxury models named in the 2017 Robb Report, a magazine catering to the ultra-wealthy
- A recent study shows that while the wealthy appreciate luxury, including luxury cars, a significant number of them also like to drive decidedly non-luxurious trucks, jeeps, and Land Rovers.
- The wealthy might collect high-end, exclusive automobiles, but many of those are for show or for occasional use; day-to-day cars, while still pricey, tend toward the practical, rather than the remarkable.
- Some wealthy people prefer comparatively modest cars because they see cars like appliances, rather than true status symbols; others might be newly wealthy and not comfortable with high-end cars.
- In some cases, the wealthy might purchase a comparatively modestly-priced car and then soup it up with so-called deluxe trim packages—luxury extras to make the car stand out.
Top Vehicles Owned by the Rich
Other mainstream vehicles favored by the wealthy include the Jeep Grand Cherokee, the Jeep Wrangler, the Honda Civic and the Honda Pilot—the most expensive model of the group, with a manufacturer’s suggested retail price (MSRP) starting at $30,595. But price figures can deceive because most wealthy buyers of modestly priced vehicles opt for deluxe trim packages, which can spike costs considerably. Case in point: The Ford F-150’s starting MSRP of $26,700 jumps to nearly $60,000 when outfitted with luxury extras.
The $400K Switch
The MaritzCX study found another interesting data point: Individuals earning more than $400,000 a year tend to favor luxury vehicles, such as the Lexus RX350 and the Tesla Model S. But when annual incomes rise above $500,000, the F-150 reclaims its number one spot, followed by two Land Rover models, the BMW X5 and the Lexus RX 350.
The Ford F-150 pickup truck, the Jeep Grand Cherokee, the Jeep Wrangler, the Honda Civic, the Honda Pilot and several Land Rover models are among the most highly-favored mainstream vehicles owned by the super-rich.
Behind the Move to Modest
Wealthy individuals desire less expensive cars, for a number of reasons. According to Robert Ross, automotive editor for Robb Report, some rich folks tend to view vehicles more like appliances than status symbols. While they may have a Rolls-Royce in their garages, they rely on their Ford F-150s for towing their expensive Airstream travel trailers.
Others appreciate how mainstream vehicles now have many of the same technological features that luxury vehicles have, for a much lower price tag. After all, even the ultra-wealthy like to save a buck. Finally, those who have recently come into wealth, such as Silicon Valley CEOs, prefer driving the cars they owned before striking it rich.
The Bottom Line
When it comes to the vehicle-buying habits of the wealthy, luxury autos may not hold the same status and prestige as they did in years past. Furthermore, some studies show that many rich people prefer buying secondhand cars with cash, then driving them until they wear out.The top vehicles owned by the wealthy today are less about prestige and more about towing capacity.
What Is The Most Common Car For Millionaires?
- BMW 328i.
- Mercedez-Benz C-Class.
- Lexus RX 350.
- Toyota Prius.
- Volkswagen Jetta.
- Honda Accord.
- Toyota Camry.
- BMW X5. With a suggested retail price of $58,595, the BMW X5 is the priciest ride on the list of 10 most sought-after rides among the richest Americans, according to TrueCar.com.
What is the most popular car driven by millionaires?
If you think the wealthiest Americans all drive either a Lexus, Mercedes or Porsche, think again! A new study from MaritzCX found that the Ford F-150 was the most popular vehicle among people earning more than $200,000 a year, according to USA Today.
What car does Bill Gates drive?
Gates’ collection includes a 1988 Porsche 959 Coupe, a Porsche 911 Carrera and a Porsche 930.
What is the easiest car to sell?
America’s 10 Fastest-Selling Used Cars
- Toyota Prius Plug-in: 19.7 Days. It’s no big surprise there’s a Prius anywhere on this list.
- Nissan Leaf: 24.3 Days. Already the most affordable pure electric car on the market that still feels like a real car, the Nissan Leaf only gets more affordable when it’s used.
- Mazda2: 29.9 Days.
- Lexus RX 350: 29.7 Days.
What kind of car does Mark Zuckerberg drive?
What are the top 5 vehicles owned by millionaires?
The top 10 cars for $250,000-plus households include the Mercedes E-class, the Lexus RX 350 and the BMW 5 series and 3 series. Following those top four were three Hondas, a Toyota, an Acura and a Volkswagen. Also, it’s sadly not surprising that 8% of people who make less than $100,000 own a luxury model car.
What car does Steve Jobs drive?
So, Jobs apparently worked out an arrangement to lease a brand new car every six months. In the 1980s he drove Porsches; by the 2000s he was driving Mercedes SL55 AMGs. By replacing each car with a nearly identical one twice a year, it meant he never had to have a license plate.
Will Amazon go up?
In the last year, Amazon stock has accelerated upward — up 109%. If that keeps up, its stock will hit $4,000 in the summer of 2019.
How much does Bill Gates house cost?
It took Gates seven years and $63 million to build his Medina, Washington, estate, named “Xanadu 2.0” after the fictional home of Charles Foster Kane, the title character of “Citizen Kane.” At 66,000 square feet, the home is absolutely massive, and it’s loaded to the brim with high-tech details.
Can you make good money selling cars?
The short answer is that most car salespeople don’t earn a whole hell of a lot of money. Dealership salespeople average about 10 car sales per month, and earn an average of about $40k per year. New vehicle sales rarely pay $300+ commissions, while used cars can sometimes pay $1,000 commissions.
Is it profitable to sell cars?
To buy and sell cars for profit, purchase cars sold by their owners through car auctions, classifieds, or Craigslist, since buying cars from dealers usually isn’t profitable.
Do millionaires buy new cars?
The book reports that “nearly 37 percent” of millionaires bought their cars used. The reality that most millionaires buy their cars new, and that their cars are three or fewer years old, isn’t surprising.
What kind of car does Warren Buffet drive?
A look at the 2014 Cadillac XTS, the same car Warren Buffett drives.
What is the cheapest supercar to maintain?
10 Cheapest (Most Affordable) Supercars
- Acura NSX-$156,000.
- BMW i8-$140,700.
- Mercedes-AMG GT-$133,600.
- Jaguar F-Type SVR-$125,950.
- Nissan GT-R-$109,990.
- Aston Martin Vantage GT-$99,900.
- Dodge Viper SRT-$87,895.
- Chevrolet Corvette Z06-$79,400.
What is the best exotic car?
Top 10 Exotic Cars
- Audi R8 V10 Plus — $191,150.
- BMW i8 — $140,700.
- Bugatti Chiron — $2.5 million.
- Bentley Continental GT Speed — $240,300.
- Dodge Viper — $87,895.
- Ferrari LaFerrari Convertible — Price not yet announced.
- Koenigsegg Agera RS — Price not known, but it doesn’t matter.
- Lamborghini Centenario — $1.9 million.
What is the most reliable supercar?
Top 10 best supercars 2019
- Lamborghini Huracan Performante.
- Ferrari 812 Superfast.
- Porsche 911 GT2 RS.
- Audi R8 V10 Plus.
- Ford GT.
- Aston Martin DBS Superleggera.
- Lamborghini Aventador S.
- Honda NSX. Next: 1. McLaren 720S.