Do you know any wealthy people who actually drive low-key cheap cars?

[Anonymous]

Anonymous wrote:We're early 30s committed childfree DINKs with net worth reaching towards $2.5 mil, so we're not super rich by DCUM standards, but feel very comfortable. We share one tiny car worth $4K that's dented, scratched, and only has one hubcap left. It runs and we hope it lasts another 10 years. I occasionally think about getting a nicer car but then remember it'll come with higher insurance, and especially the anxiety and anger it'll give me when it inevitably gets marked up or broken into in the city. Maybe this is why there are so many angry car drivers.

Yes, you are rich... you can afford a new car. My insurance dropped with a newer car because of all the safety features. The city driving is the only reason I would not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The oldest car I have driven in a very long time was a loaner on Nantucket. It was an old metal Ford suv that was falling apart. Every light on the dashboard was on. The owner is the father of my friend. They are loaded. This is what he uses every day year round. I borrowed it to run to the store as it was the last one in the driveway. I thought it was going to die the whole time.

+1. My DH is from New England and lots of very wealthy people drive older, non luxury cars.

Martha's Vinyard, Block Island. Look at the airport parking lot. All those old cars probably belong to rich people and probably have the keys in them somewhere.

A New England thing, for sure. Plenty of people who could buy and sell you drive around in Hondas, Subarus and Toyotas.

[Anonymous]

Lol no. Wealthy people drive nice, expensive cars.

The wealthy person driving a Honda Accord is a myth dcum likes to perpetuate.

[Anonymous]

Anonymous wrote:Lol no. Wealthy people drive nice, expensive cars.

The wealthy person driving a Honda Accord is a myth dcum likes to perpetuate.

I know it’s hard to believe that different people do different things with their money - just because you might buy luxury items with your money not everyone does. Rich people are not a monolith.

[Anonymous]

Anonymous wrote:Lol no. Wealthy people drive nice, expensive cars.

The wealthy person driving a Honda Accord is a myth dcum likes to perpetuate.

I know multiple millionaires and at least 3 billionaires and I can assure you that most are not driving expensive cars in my experience. They spend their money on experiences and don't flash their wealth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lol no. Wealthy people drive nice, expensive cars.

The wealthy person driving a Honda Accord is a myth dcum likes to perpetuate.

I know multiple millionaires and at least 3 billionaires and I can assure you that most are not driving expensive cars in my experience. They spend their money on experiences and don't flash their wealth.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lol no. Wealthy people drive nice, expensive cars.

The wealthy person driving a Honda Accord is a myth dcum likes to perpetuate.

I know multiple millionaires and at least 3 billionaires and I can assure you that most are not driving expensive cars in my experience. They spend their money on experiences and don't flash their wealth.

And all the rich people i know spend on experiences and have nice expensive cars. Also, nice clothes. Tailored, well-fitted.

[Anonymous]

I think it’s an old money versus new money difference. My dad is old money wealthy and has always driven cars into the ground - like 250k miles.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lol no. Wealthy people drive nice, expensive cars.

The wealthy person driving a Honda Accord is a myth dcum likes to perpetuate.

I know multiple millionaires and at least 3 billionaires and I can assure you that most are not driving expensive cars in my experience. They spend their money on experiences and don't flash their wealth.

And all the rich people i know spend on experiences and have nice expensive cars. Also, nice clothes. Tailored, well-fitted.

Driving a car with modern safety features, heated seats and steering wheel, and good road feel with tight handling, is an experience. Just like driving a crappy old front wheel drive Honda is a terrible experience. All the wealthy people I know drove nice cars. Maybe they keep them a long time but they are not crappy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The oldest car I have driven in a very long time was a loaner on Nantucket. It was an old metal Ford suv that was falling apart. Every light on the dashboard was on. The owner is the father of my friend. They are loaded. This is what he uses every day year round. I borrowed it to run to the store as it was the last one in the driveway. I thought it was going to die the whole time.

+1. My DH is from New England and lots of very wealthy people drive older, non luxury cars.

Martha's Vinyard, Block Island. Look at the airport parking lot. All those old cars probably belong to rich people and probably have the keys in them somewhere.

Lol. I’m the Nantucket poster and the keys were in the cup holder, the whole family leaves their keys in their cars and their huge houses unlocked.

[Anonymous]

Anonymous wrote:Haven’t read all 9 pages but the IKEA founder (forgot his name) drives an old beat up car. And I think I read somewhere that Warren Buffet also lives frugally (old car, old house, etc...).

I recall from a documentary (on Netflix maybe?) that the founder of IKEA was a Nazi sympathizer. Not related to the topic but just of interest...

Buffet lives in a house in Omaha and for the longest time flew coach. Eventually shareholders forced him to fly in a private jet because of security concerns.

[Anonymous]

In my in-laws circle; either 20K prius or 100K tesla. Founder tech money; most have NW 50M+ after selling 2-3 startups since the late 70s onward.

However there are a few that really like cars. One has a warehouse of Ferraris (yes a full warehouse). Another has a dozen Porches.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We're early 30s committed childfree DINKs with net worth reaching towards $2.5 mil, so we're not super rich by DCUM standards, but feel very comfortable. We share one tiny car worth $4K that's dented, scratched, and only has one hubcap left. It runs and we hope it lasts another 10 years. I occasionally think about getting a nicer car but then remember it'll come with higher insurance, and especially the anxiety and anger it'll give me when it inevitably gets marked up or broken into in the city. Maybe this is why there are so many angry car drivers.

Yes, you are rich... you can afford a new car. My insurance dropped with a newer car because of all the safety features. The city driving is the only reason I would not.

Yep I would just buy a cheap base model new car. Even base models of cheap cars from the major makers now have more safety features than a 10+ year old car.

[Anonymous]

Anonymous wrote:In my in-laws circle; either 20K prius or 100K tesla. Founder tech money; most have NW 50M+ after selling 2-3 startups since the late 70s onward.

However there are a few that really like cars. One has a warehouse of Ferraris (yes a full warehouse). Another has a dozen Porches.

Yes, I'm the one who posted about Prius people. It's a thing. My old boss could afford all the car he wanted but was a Prius person. He was from San Francisco.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In my in-laws circle; either 20K prius or 100K tesla. Founder tech money; most have NW 50M+ after selling 2-3 startups since the late 70s onward.

However there are a few that really like cars. One has a warehouse of Ferraris (yes a full warehouse). Another has a dozen Porches.

Yes, I'm the one who posted about Prius people. It's a thing. My old boss could afford all the car he wanted but was a Prius person. He was from San Francisco.

+1. Our law firm equity partners in our SF office--who are pulling in on average $2M-$4M/year--drive Priuses into the office. Clearly they can afford nicer cars, but it's definitely a noticeable trend. In fact, there seems to be some cache to being an early adopter of the Prius and having an older model. Some of it might just be SF traffic and garage parking--you want a smaller more nimble car. People mock you if you own one of the massive gas guzzlers you see in the DC private school carpools.