Are you looking to eventually trade in your vehicle for that luxury one you like? New budding small business owners love to flash around top model cars and the hype of money. Interestingly, thousands more are attracted to this level of living. Who wouldn’t trade their latest car for a Tesla, Mercedes or BMW? Many networking and MLM companies also use these top cars as an incentive to become top-earners. There’s something uncertain about how the wealthy and other figure earners view spending habits for luxury cars.
Most people begin their businesses with little to no money, or just enough saved to last for approximately six months to a year. (This is rare). They start with the luxury car as a goal in mind and earning on average $100 to $3500 per week.
Those who aspire to understand how the wealthy think, live and spend learn information with value and sustenance. The aspiring self-made millionaire eventually grasps that luxury cars to the rich are ordinary fully loaded vehicles.
According to a few articles, there are specific cars the wealthy purchase
“What Do Wealthy People Really Drive?”
According to a study done by researchers at Experian Automotive (and published on Forbes), 61% of wealthy people actually drive Hondas and Toyotas and Fords, just like all the rest of us.
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. If that isn’t an effort to keep up with the Joneses, then we don’t know what is. You make $50,000 a year and you own a $60,000 car? That’s insane.
“What the Richest Americans are Driving Now”
Rounding out the top five in MaritzCX’s study, as USA Today reported, are four other vehicles not known for flash or luxury: Jeep Grand Cherokee, Honda Pilot, Jeep Wrangler, and Honda Civic. All of these vehicles feature 2016 sticker prices starting around $30,000 or below, and the Civic starts under $20,000. They’re all basically middle-of-the-road choices and not what you’d expect as the top picks among American consumers earning roughly four times the country’s median household income.
“Many Rich Folks Opt for Plain Ol’ Pickups, Economy Cars”
The wealthiest among us could afford to drive just about any luxury car on the road — Ferraris, Jaguars, Porsches — you name it.
But instead, a study finds the most popular cars for high-income Americans are pretty much what everyone else drives, notably Fords, Jeeps and Hondas.
“12 Vehicles Rich People Want the Most That You Probably Drive Too”
In many cases, rich people make pretty much the same decisions the average Joe does. They, too, eat fast food. Rich people buy the same brands of cat litter. And when it comes to choosing a car, rich people often spring for the same model as average earners.
That’s right: Just because people make a lot of money doesn’t mean they’re looking to buy a luxury vehicle. Even Warren Buffett, one of the richest people on the planet, drives a Cadillac — a fairly thrifty option considering the amount of money he has.
“Top 5 Vehicles Rich Americans are Most Likely to Drive”
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.
Although the vehicles on this list have starting prices of $30,000 or less, they can easily cost more than $40,000 once you add on the features that you really want.
USA Today reports that a third of Ford F-150s sell in the “luxury price realm.”
Interestingly, the Honda Civic is also on the list of top-selling vehicles…