Dave Ramsey's List Of The Top 10 Cars Driven By Millionaires May Surprise You — Or Not
Personal finance expert and bestselling author Dave Ramsey has released his list of the top 10 cars driven by millionaires, and we bet some of these cars will surprise you. Here's what cars the super wealthy enjoy driving.
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There's certainly no shortage of millionaires living in the U.S., and according to World Population Review data, the country is currently home to a whopping 24,480 millionaires. This is roughly 10% of the world's population, and the cars these wealthy people drive may surprise you. According to Ramsey, the number one car choice for millionaires is the Japanese car brand Toyota. This may be surprising since most people would assume millionaires drive sports cars like Ferraris. Still, according to a Facebook post from the finance expert, "Most millionaires don't drive flashy cars" and added, "69% of millionaires did not average $100,000 or more in household income per year (get this) one-third of millionaires never had a six-figure household income in their entire careers."
Another study that Yahoo Finance shared from an Experian Automotive study cited by the Financial Times revealed that "61% of people who earn more than $250,000 are more likely to be driving Hondas, Fords and Toyotas." The Japanese Motor Company established its foothold in the U.S. in 1957, known as Toyota Motor Sales, U.S.A., Inc. Since then, Toyota has released a range of cars for every budget while earning its reputation for being a reliable manufacturer. According to information from Cox Automotive, the average cost of a Toyota went up to $38,198 this year. Some of the top-selling Toyotas in the U.S. market for 2024 are the classic Toyota Corolla, which comes with a premium GR version for added horsepower, the reliable Toyota Camry, and the king of SUVs, the Toyota RAV4.
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Don't believe this? Billionaires like Sergey Brin and Larry Page have been known to drive Toyotas. For example, Brin and Page drove the Prius, which started at $39,920.
According to Ramsey, Honda is the next popular car brand that millionaires drive in the U.S. Honda is another popular Japanese car brand. Next to Toyota, Honda is another popular choice for millionaires and even billionaires, as Amazon founder Jeff Bezos has been seen driving around in the Honda Accord, which starts at an affordable $16,995.
The third car on Ramsey's list is Ford, an All-American car brand beloved by many in the country, including the millionaires. For example, Yahoo Finance shared data from MaritzCX that revealed that for "Americans earning more than $200,000 a year, the Ford F-150 pickup truck was the most popular choice of vehicle to drive." Motor1 has listed the Ford F-series as the number one most popular truck in the U.S. market, with over 750,000 trucks sold last year.
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Next on Ramsey's list is Lexus, another Japanese car brand that sells reliable and cost-effective vehicles to the U.S. auto market. What makes this car brand popular is the range of affordable models starting from $35,000 and the premiums going over $90,000. After the Lexus, the Japanese car brand Subaru and then luxury car brand BMW. After BMW, Ramsey included Acura, Honda’s performance and luxury division. Facebook founder Mark Zuckerberg has been known to drive around in an Acura TSX that starts from $30,635.
After Acura, Ramsey cites the Korean motor brand Hyundai as the 8th most popular choice of car that millionaires like to drive, with American motor group Lincoln in 9th place. Last on the list is Buick. According to CNN, after a lull in sales during 2023, Buick sales have risen by more than 60% this year compared to 2022.
According to Ramsey, "Most millionaires don't drive flashy cars," and this list proves his opinion correct.
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