Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

How do you think those people got rich in the first place? That kind of mindset doesn't suddenly end.


They got rich because their parents were rich. Duh.

Not all.

Are you saying you’re the exception? Fine. But most wealth is inherited. In my experience, wealthy people have nice cars. The idea that rich Americans are driving around in beaters would be cool, but, in fact most drive luxury cars. And like another PP said, they have multiple cars. Yes, I understand there are exceptions, let’s not act like that’s the norm.

No, most wealth is not inherited and most wealthy Americans are not driving around in bank-owned BMW, Audi, and Mercedes.

https://www.investopedia.com/articles/managing-wealth/022817/which-cars-and-trucks-do-wealthy-americans-drive.asp

Did you even read the article you posted??

For people earning over $500k:
F150 (truck)
LandRover (two models, it doesn’t specify which)
BMW X5
Lexus RX350

The extended cab and Limited Edition F150s are basically marketed to people who want a luxurious-ride family hauler (competing directly with the #2 Land Rover) and/or hauler of expensive sporting equipment, namely horses and boats (yes, you can haul these things behind a SUV but a truck is much better for this job).

That whole article was nuts. These are all luxury cars!

Yep. With trucks especially it is really easy to up the price tag by getting extras. I think the F-150 Limited Editions start at around 67,000 and the Platinum Editions start in the low 60s and that's before you start adding on.

Anonymous wrote:Yes me, drive Lexus RX 350.

Anonymous wrote:The Lexus RX350, while a luxury vehicle, is a very practical car. You can drive those things into the ground and the reliability is outstanding.

If anything, I consider Lexus owners to be savvy buyers who enjoy value.

All of that may be, but Lexus owners are not “driving low-key cheap cars.” If they were, they’d be driving Toyotas.

We have approximately 15M net worth, just bout a $100K+ car, and have two other new-ish cars from luxury brands. One of our neighbors probably has between 50-100M net worth, and drives an older basic pickup truck. Most of our other neighbors are more spendy however. At least in this area, people with money tend to drive nice cars, based on our anecdotal experience. We are mostly new money in this town.

Things may be different further up north or in other areas of the country with old money.

Anonymous wrote:Yes.

A multi-millionaire who co-owns a 1000 employee company. Lives in McLean and drives a Honda Odyssey.

Another one drives a Volvo but owns 30 some classic cars in his warehouse.

A billionaire in mid-west with a truck.

Also, the son of the billionaire drives a Ferrari.

Yes.

A multi-millionaire who co-owns a 1000 employee company. Lives in McLean and drives a Honda Odyssey.

Another one drives a Volvo but owns 30 some classic cars in his warehouse.

A billionaire in mid-west with a truck.

my in laws are sitting on 10 million, they drive a 10 year old accord and 3 year old civic

my parents 8 mill two golf carts and 2020 hundai santa fe, living in a patio home in central florida

my grand mother well north of 15 mil, a golf cart and a 9 year old Cadillac CTS

The Lexus RX350, while a luxury vehicle, is a very practical car. You can drive those things into the ground and the reliability is outstanding.

If anything, I consider Lexus owners to be savvy buyers who enjoy value.

I know a few legit WASP New England types who drive old Volvo's. It's almost like a badge that they wear.

Most wealthy people that I know drive a decent car -- nothing too garish, but something really nice.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

How do you think those people got rich in the first place? That kind of mindset doesn't suddenly end.


They got rich because their parents were rich. Duh.

Not all.

Are you saying you’re the exception? Fine. But most wealth is inherited. In my experience, wealthy people have nice cars. The idea that rich Americans are driving around in beaters would be cool, but, in fact most drive luxury cars. And like another PP said, they have multiple cars. Yes, I understand there are exceptions, let’s not act like that’s the norm.

No, most wealth is not inherited and most wealthy Americans are not driving around in bank-owned BMW, Audi, and Mercedes.

https://www.investopedia.com/articles/managing-wealth/022817/which-cars-and-trucks-do-wealthy-americans-drive.asp

Did you even read the article you posted??

For people earning over $500k:
F150 (truck)
LandRover (two models, it doesn’t specify which)
BMW X5
Lexus RX350

The extended cab and Limited Edition F150s are basically marketed to people who want a luxurious-ride family hauler (competing directly with the #2 Land Rover) and/or hauler of expensive sporting equipment, namely horses and boats (yes, you can haul these things behind a SUV but a truck is much better for this job).

That whole article was nuts. These are all luxury cars!

Anonymous wrote:The owner of IKEA, a multibillionaire, is famous for driving decades old Volvos and being very tight with his money.

So what?

Yeah I know a few millionaires Who drive basic 10 year old Civics and Honda accords. Nothing fancy or luxury at all.

The owner of IKEA, a multibillionaire, is famous for driving decades old Volvos and being very tight with his money.

From that article PP linked above--this is us:

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.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

How do you think those people got rich in the first place? That kind of mindset doesn't suddenly end.


They got rich because their parents were rich. Duh.

Not all.

Are you saying you’re the exception? Fine. But most wealth is inherited. In my experience, wealthy people have nice cars. The idea that rich Americans are driving around in beaters would be cool, but, in fact most drive luxury cars. And like another PP said, they have multiple cars. Yes, I understand there are exceptions, let’s not act like that’s the norm.

No, most wealth is not inherited and most wealthy Americans are not driving around in bank-owned BMW, Audi, and Mercedes.

https://www.investopedia.com/articles/managing-wealth/022817/which-cars-and-trucks-do-wealthy-americans-drive.asp

Did you even read the article you posted??

For people earning over $500k:
F150 (truck)
LandRover (two models, it doesn’t specify which)
BMW X5
Lexus RX350

The extended cab and Limited Edition F150s are basically marketed to people who want a luxurious-ride family hauler (competing directly with the #2 Land Rover) and/or hauler of expensive sporting equipment, namely horses and boats (yes, you can haul these things behind a SUV but a truck is much better for this job).

Completely agree that line of work makes a big difference, but also stage of life. When I was a baby lawyer in biglaw I cared a LOT about projecting that I belonged. Now that I’ve had money for a while, I find it boring. I have expensive things that matter to me personally, but keeping up with certain signals? Meh. Never cared about cars.