If you want to emulate the spending habits of the rich and successful, these cars should be on your list.
Arizona-based Real Estate Guru and TikToker Matthew Long recently replied to a popular prompt asking, “What are the rich people cars (that are) low-key so only super rich people know about these cars?”
As a Harvard grad, military Veteran, over a decade in the real estate industry and experience, Long gave a thorough and detailed response that confirmed my suspicions but might surprise you.
Here’s Long’s video below.
@hellomatthewlong #stitch with @Detranslightful What Cars do the Rich Buy? ???????? #cars #rich #carbuying #wealth #money ♬ original sound – HelloMatthew
“I’ve lived in Scottsdale for over 12 years now and anyone that’s lived in this city starts to recognize the trends.”
“The trends are very simple. Everyone’s a millionaire!” Long says surprisingly.
“Everyone drives a Mercedes, BMW, Audi, and a Range Rover. They’re all over the town.”
If you haven’t caught on, this is sarcasm!
“As a licensed mortgage broker and realtor, I see a lot of the finances that come across my desk, and honestly, there’s not that many millionaires here.”
“The reality is credit scores are pretty poor, debt-to-income ratios are really poor, but they are all out there driving high-end, used, pre-owned luxury cars.”
“You want to know the secret to what the really rich people are driving around this town?”
Before Long gives his answer, I’ll let you take an educated guess.
If I was answering without knowing the actual answer, I’d think rich people also drive the latest and greatest luxury cars and exotics.
They only difference is they actually have the money to finance, properly insure, and maintain them.
What’s the point of having money if you can’t flaunt it, right?
If you thought that, you’re 100 percent wrong!
“That’s right, Toyota, Honda and Ford! They are the most popular brands for some of my wealthiest clients.”
“And the best part, my favorite client who’s a really renowned surgeon absolutely loves his Honda CR-V”
I also have a very well off banker who loves his Subie. All he talks about is Subaru.”
“Guys, the secret to wealth is not giving a dang of what other people think about you or what you drive. The very wealthy couldn’t care less, they just want something reliable.
“And these brands like Toyota are incredibly reliable, and they hold their value so well. So, if you ever need to sell it, you can get your money back.”
“The secret to the rich and what they like to drive, is simplicity.”
Tire Meets Road’s take
As a car enthusiast and hearing what rich people drive, it reflexively leaves a sour taste in my mouth.
What’s the point of having money if you can’t make adult decisions and own something that raises your pulse a couple of BPM or flexes on your neighbors a little (everyone has a little ego, right?)
Do I have to choose between driving what I really want but settling for a low net worth or am I relegated to a life of driving Camrys and Accords but I have a decent house and sizeable retirement account to show for it.
Of course, the answer is no.
This isn’t a case of correlation is- causation. Just because you drive old Toyotas and Hondas, it’s not going to make you rich. If that were the case, I’d be a millionaire.
It’s just that a lot of successful people who don’t care about performance or ego choose cars for their reliability and simplicity above all else, two things (among others) Toyotas, Hondas, and Fords excel at.
If your goal is to maintain some level of financial security at all times on your way to greater success but you gain some satisfaction from the act of driving, you can begin to find your footing in life and drive something sporty and/or luxurious.
You have to realize, like those successful people, that cars are often the second biggest purchase in your life and, if unchecked, can eat away at your wealth.
Money that could be going to savings, investments, or paying down other debts instead goes to unforeseen maintenance, insurance, and other miscellaneous expenses that pop up along the way.
Want that new Honda Civic Type R? Think about getting a Honda Accord Coupe with a V6 and not too many miles, instead.
Also, listen to the wisdom of the crowd when they say a particular car is a money pit.
Jealous that your friends are driving the latest Mercedes? Spend a fraction of that on a used but well taken cared of Lexus IS250. It’s got just as much luxury with the reliability of a Toyota.
And if you plan ahead of time to upgrade to something more sporty and/or luxurious later on down the line after you’ve achieved what you set out to, congrats, go get those wheels.
By that time, instead of being 30 with a sick ride and no savings while living at home, you’ll be the same age with a reasonable ride, some savings, and maybe you’ve got your own place, too.