When you think of the wealthy and the cars they drive, you probably get images of flashy, fast sports cars. Luxury models such as Audi and Lamborghini, that the rest of the population cannot really afford. However, are these the cars that the rich people out there are driving?
For some, yes, they absolutely love the fancy cars and SUVs that cost as much as multi-bedroomed mansions. There’s however a group of wealthy people who you wouldn’t be able to tell were ultra rich by the cars they drive. Some studies even suggest that many rich people prefer trucks. That’s right, pickup trucks, but of course, of the more tastier, expensive kind such as the Ford F-150. This shows that while there’s a group that savors luxury, others go for practicality. For some it’s a matter of personal preferences while others, well, just don’t want to spend insane amounts of money on an extravagantly expensive automobile.
It’s without a doubt that a huge portion of the wealthy have a luxury car among the several in their garages. Cars such as the Lexus RX350, the BMW X5 and some Land Rover models feature on many lists. Usually viewed as a status symbol, some rich people may actually leave these unused for long while they go for more practical models. Given a lot of mainstream vehicles are coming with many desired features, some wealthy people decide to go for them since they come at much lower prices than luxury options.
A study published on Forbes actually indicated that more than half of rich people drive mainstream vehicles from makes like Toyota, Ford and Honda. These are cars that you find everywhere. There even exists a large group who prefer buying second hand cars. This is in complete contrast to what many people believe the rich spend on their cars. It goes with the fact that many rich people including millionaires have actually been proved to be very frugal with how they spend their hard earned money.
People earning more than $250,000 per year seem to like certain models of Volkswagen, Honda, Toyota, BMW, Lexus and Mercedes. It also happens that people who are not exactly considered wealthy may be the ones going for the luxury models, even more than the wealthy. For many, it’s a manner of seeking a status symbol. Well, that seems like a misplaced ideology given even the really rich ones are not spending all their millions on super expensive cars.
The stereotype around that cars that rich people drive therefore seems to be on the most part, misplaced. It seems that while the rest of the world is so worried about image, they are not. Perhaps that’s because a lot of people choose physical symbols to try to project an image of being at a financial level that they are not at yet. Millionaires on the other hand don’t have to fake anything. Everybody should definitely take a leaf from these wealthy people. If one thing is clear, it’s that you don’t get to this class by spending money you don’t have on cars you don’t need.