By Jim Probasco
Which are the top vehicles owned by the wealthy today? Surprisingly, a recent survey by market research firm MaritzCX found that people earning more than $200,000 a year prefer to drive a Ford F-150 pickup truck rather than, for example, an Audi R8 V10 Plus Coupe or Lamborghini Huracán LP610-4 Spyder – the two luxury models vying for 2017 car of the year in the Robb Report, a magazine that caters to the ultra-wealthy). (For more, see 5 Money Secrets the Rich and Frugal Already Know.)
Top Vehicles Owned by the Rich
In addition to the Ford F-150, other vehicles most favored by the wealthy include the Jeep Grand Cherokee, Honda Pilot, Jeep Wrangler and Honda Civic. The most expensive (but not very) is the Pilot, which has a manufacturer’s suggested retail price (MSRP) starting at $30,595. Price figures can be slightly deceiving, however. Most wealthy buyers of modestly priced cars get them with deluxe trim packages, raising the cost considerably. The Ford F-150, for example, has a starting MSRP of $26,700. Outfitted by a wealthy buyer, the price can go rise to nearly $60,000.
The $400K Switch
And remember there’s “wealthy,” then really rich and it goes up from there. The MaritzCX study found that when annual income goes above $400,000, luxury vehicles are much more prevalent in garages and driveways. At that income level, top sellers are the Lexus RX350 and Tesla Model S. Coming in at number three, however, is the venerable (and modest) Honda Civic. When income rises above $500,000 a year, the F-150 pops up again in the number one spot – but it’s followed by two Land Rover models, plus the BMW X5 and Lexus RX 350.