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How much do millionaires spend on their wheels?
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03-23-2011, 01:28 PM
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just the messenger
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Join Date: Feb 2006
Vehicles: 2000 Honda Enzyte 5-speed MIMA, CalPod, SGII
Location: Greater Dallas
Posts: 22,878
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How much do millionaires spend on their wheels?
Take a guess, then scroll down to the average according to CNN Money
$31,400 ...that is about what Bill Gates paid for his Prius. 
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All is vanity
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03-23-2011, 01:30 PM
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Beat The System
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Join Date: Jan 2007
Vehicles: 2009 Fit, 2004 Odyssey, 96 Civic retired
Location: Longview, TX
Posts: 12,784
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Re: How much do millionaires spend on their wheels?
Yep. That approach is part of the reason they are millionaires in the first place.
A couple gems from a recent interview with Warren Buffet:
- He has lived in the same 3-bedroom house for 50-some years.
- He drives a 5-year-old Cadillac.
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Andrew
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100 mpg commute / 90.2 mpg tank = 1191 miles
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03-23-2011, 02:02 PM
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Practicing true conservatism!
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Join Date: Apr 2008
Vehicles: 2005 Kia Spectra EX 5spd, 2006 Honda Accord LX-SE VTEC 5spd, 2007 Kymco People S 250
Location: Tallahassee, FL(orida's armpit)
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Re: How much do millionaires spend on their wheels?
Most millionaires don't buy brand new cars and they buy them with cash in full. Debt is dumb, cash is king!
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- Brandon
Best Segment - 76.5 MPG / 2.8 mi
Best Tank - 748.6mi @ 45.1 MPG 11/11/12
 
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03-23-2011, 02:19 PM
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Veteran
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Join Date: Oct 2008
Vehicles: 2010 Toyota Prius Touring (2006 HCHII still in the family)
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Re: How much do millionaires spend on their wheels?
Millionaire isn't what it used to be: got your mortgage payed off? Your RRSP's growing? Set a little rainy day cash aside? Becoming a millionaire can sneek up on you. Anyway:
I agree, pricey cars are not a millionaire trait.
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03-23-2011, 03:21 PM
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Be Inspired
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Join Date: Mar 2008
Vehicles: 1999 Dodge Avenger, 1997 Mitsubishi Eclipse 5sp
Location: Schenectady, NY
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Re: How much do millionaires spend on their wheels?
People buy pricey cars to look like millionaires.
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Ricardo
Best Segment: 25.3mi@76.9mpg
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03-23-2011, 03:51 PM
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Pishtaco
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Join Date: Dec 2008
Vehicles: 2012 Hyundai Elantra A6, 2006 Scion xB M5
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Re: How much do millionaires spend on their wheels?
Here's an interesting link about the people who actually do buy >$40,000 luxury cars.
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Darrell
Boycotting Exxon since 1989, BP since 2010
49.3 mpg avg over 44,900 miles. 176% of '08 EPA
Best flat drive 94.5 mpg for 10.1 mi
Best tank 1033 km (642 mi) on 10.56 gal = 60.8 mpg
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03-23-2011, 04:33 PM
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Hasta Lavista AAA-Vee Von't Be Bach
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Join Date: May 2008
Vehicles: 2011 Hyundai Elantra GLS PZEV 6AT, 2011 Hyundai Sonata 6MT
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Re: How much do millionaires spend on their wheels?
I know a couple that are millionaires. Waterfront home on the south shore. Weekend house in the Hamptons. Vacations all around the world, etc etc etc. He drives a Honda Ridgeline. Since last summer, she drives a 2011 Hyundai Sonata (Limited Nav) - their most recent automotive purchase. Before that, she had a 2002 Camry. Yes, it was nine years old when she sold it - no "new car every year" nonsense.
I have an uncle who is a millionaire. He drives a four year old Chrysler 300 and a ten year old Chevy Tracker.
Generally speaking, people who look like millionaires are just spending money they don't have to put on the appearance of wealth. The materialism of modern culture assigns self-worth based on tangible assets, meaning the more fancy crap you have, the more important you apparently are. But the real millionaires will tell you that you won't be a millionaire for long if you keep dumping your money into depreciating assets.
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04-09-2011, 12:21 PM
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Junior Member
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Join Date: Apr 2011
Posts: 1
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Re: How much do millionaires spend on their wheels?
Quote:
Originally Posted by JusBringIt
People buy pricey cars to look like millionaires.
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That is exactly what i wanted to say  |
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