What Do Rich People Drive

Yahoo Finance - February 26th, 2023

For decades now I've just bought myself a new Mazda every 10+ years. 

I know I could save some money by buying used but I've got an 84 mile round trip commute, I'm raising two daughters, and I have a steep driveway at the top of a steep hill so getting a broken car into my garage would be a big hassle.

It's worth it to me to get a zero time everything, never neglected, never abused, never farted in car with the latest tech.

Fight me 

From having spent a little time around Senators and Congressmen, F-150. The well established, high-earning sales guys seem to gravitate towards higher trim Accords too

Hey, I also have a Mazda. :) 

Kind of a silly, or at least extremely superficial article. Sure, lots of rich people are not 'car people' at all, and so are many not rich people. Rich people drive cars that meet their needs and wants, within their (much higher) budgets.

This forum is a zillion percent hard-core car people, so, money notwithstanding, we drive cars we find enjoyable, interesting, and rewarding. We drive cars that meet our needs and wants, too, just with often more limited budgets.

(But I have a Mazda, too, so like, Bill Murray in Caddyshack, I got that goin' for me.)

Now I feel left out, its been a decade since I last owned a Mazda..

As the article kind of points out, a wealthy person has no need to look rich, and will many time have desire to not look rich (certain professions are clearly an exception)

When you see someone driving around a Ferrari or Lamborghini, it really does make you wonder why.  I mean, to really be able to afford to regularly drive such a car you almost have to just have money flying out your butthole  (clearly there are some).

If I was extra wealthy, I would probably drive around a Singer 911 (or have a Corvair converted similarly!) which just looks like a regular older 911 to most.  Driving it would hurt some of its value, but I suspect not that much (and you could easily return it to "new" if you wanted)

I would agree though, if you have the money, no reason to buy used, unless you really like an older car.  Heck, the easy button for extra money is the lease.

My boss is one of the largest private land owners in the country, and drove a 2000-ish Lexus es300 for right at 20 years. Two years ago he got a Tesla model 3. He has expressed interest in cars and driving, but definitely doesn't spend his money on these things. 

The article doesn't seem to take into account Section 179 where a business owner buys two large vehicles (in the company name) for he and his wife to drive. 

This is why a lot of small business owners drive pick up and large SUVs.

If I had a million dollars, we wouldn't have to walk to the store.

If I had a million dollars, we'd ride in a limo because that costs more.

My grandfather, may he rest in peace, owned property in New York City. 

He passed when I was very young, but I remember my grandmother telling a story about him car shopping.

He was thinking of buying a Cadillac.

No, his business partner said, we should drive Buicks.

And my grandmother, may she also rest in peace, always had a Buick. 

What do rich people drive? Whatever they want to....

In reply to David S. Wallens :

My mother-in-law always wanted a new Cadillac as she was from Alabama (Elvis and all) and her era looked at those as you've made it.  My father-in-law worked for General Motors and got the employee discount and bought a new GM sedan every 6 years.  Always got close to that Cadillac but never got it.  

For some reason I feel I should buy that Cadillac in her honor.  I have one picked out but that $130,000 price tag is a bit much.

1. Three Pontiac Bonneville's
2. Oldsmobile Delta 88
3. Oldsmobile 98
4. Buick LeSabre

Is it just me or is $200k not "rich" just "comfortable?"

In reply to Datsun310Guy :

I think for my grandfather and his business partner, it was a humility thing. 

I know an attorney who does a lot of union work and likes Porsches. But he also has a Cayenne. Why? Can’t show up to see clients in a 911. Again, too showy. 

Paul_VR6 (Forum Supporter) said:

Is it just me or is $200k not "rich" just "comfortable?"

I was thinking the same thing, especially based on location. I'm neither rich nor comfortable but I think the thresholds for rich probably need to shift up a little for this to be more relevant.

Paul_VR6 (Forum Supporter) said:

Is it just me or is $200k not "rich" just "comfortable?"

It's upper-middle class, but may not be enough to leave you with fancy car money in a big city with a high COL for example.

In my experience, whether a rich person drives something fancy and ostentatious depends on whether they're a car person any how much they want to show off. Those who aren't into cars and don't want to show off will drive just a nice BMW or a Tesla or something, not something that stands out too much. Those who aren't into cars but do want to show off will buy something flashy and/or rare like a G-Wagen, or a Defender in the states, or a Wrangler in the Caribbean for example. Now when you get to those who ARE into cars, is when you see the really awesome stuff like track-focused high-end sports cars and supercars, full carbon-bodied kit cars with built race engines or custom EV powertrains, ex-WRC cars for competition, super-valuable classics...all of those are from real-world experience.

In reply to David S. Wallens :

I'm in Industrial Sales - same issue.  I can buy a used $25-$30,000 Cadillac and get grief all day long.  Drive a $60,000 Silverado and not a word.  

Wifey worked in the 80's at a company that sold high end office products (engraved stationary) to lawyers, doctors, CEO's, big accounting firms.  Their salesmen wore a suit and you better be in a nice BMW/Benz if you're taking a lawyer to lunch or a Blackhawks game.  

Oh, fun story, I know of a stupendously rich person who often DDs a Tercel. It's the mintiest Tercel you've ever seen and it has all the options, but it's still a Tercel...this same guy once tried to build a Mk4 Supra to break the Internet, after flying in a celebrity Japanese tuner the engine still blew up though, hasn't been any big news on the project since then, that was the early/mid 2010s...

200k a year is not rich by any stretch. That is lower middle class at least in my area. 

The Wealthy, 7-9 figures a year, that I know drive F150's, Range Rovers and Urus's as dailies. All of them have vintage or collectible cars for the weekend and they all use private air travel over a car service. Now a few have a Rolls Royce, a few Bentley flying spurs, but use them sporadically and only in town where they know they can leave them in a parking lot without any issues. Never Phantoms though always ghosts.  

Public policy.

This is so deliciously stereotypical (Santa Clarita Diet)...

I get that realtors need something that can cart around an entire family and be easy to get in and out of for their clients but this is the norm (at least in my area) and makes me think commissions are waaay too high.

Friend of mine was a service advisor at a Mercedes dealership in a nice part of town. He said the truly rich people drove older E-Class models that were meticulously maintained. The new money folks wanted a S-class or SLK, but the "money is no object" plain dressed people just wanted their E-class perfect.

Are we talking rich or wealthy?

Rich people drive the newest Lambo.

Wealthy people are driven.

In reply to RX Reven' :

You're only thinking of the successful agents. Commissions aren't high though in reality. Just ask the typical agent. Commercial can make a E36 M3 ton but they work their ass off for it. I don't think anyone who works hard is overpaid. 

I'm 52 and I have never bought a new car. Usually about 10 years old. Most end up on Hagarty's up and coming classic list a year or so after I buy them. Money, no. Taste, yes.