What Cars Do the Wealthy Drive?

Motive Auto Finance

It may surprise you to know that the richest people do not always drive the most expensive vehicles available. Sure, there are plenty who drive Bentleys, Koenigseggs, etc, but the majority drive vehicles that are far more reasonably priced. Here is a list of the ten most common vehicles owned by people who have an income of more than $100,000 a year.

Honda CRV

Honda CRV…just 23% of annual gross income.

  • Mercedes E350 Bluetec:  $51,400
  • Lexus RX 350:  $40,670
  • BMW 5 Series:  $49,500
  • BMW 3 Series:  $32,750
  • Honda CRV:  $22,945
  • Honda Accord:  $21,955
  • Honda Odyssey:   $28,825
  • Toyota Prius:  $24,200
  • Acura MDX:  $42,290
  • Volkswagen Jetta:  $15,695

As you can see, only one of these models–the Mercedes E350–is in excess of 50% of $100,000–the minimum year income of this demographic.  Interestingly enough, if we take the average MSRP of these models, it’s $33,023–right at 33% of $100,000, which is in line with the percentage of salary we recommend when buying a car. And, keep in mind, these are the top ten most popular vehicles among people who make at least $100,000 a year, so as a percentage of income, these cars are that much lower.

Even though there are no Fords, Chevys, or Dodges on the list, several of these models are manufactured in the United States. As a side note, Warren Buffet, perhaps the best known rich man in the U.S., happens to drive a used Cadillac DTS.

J. Coffey is an advocate of frugal-living and sound money management here at Motive Auto Finance. He works for a major automaker. Need assistance? Contact an auto finance specialist.

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