Ford F-150 Is Most Popular Car for Rich Americans Making Over $200K When people think of the favorite cars of wealthy individuals, luxury car brands like BMW, Mercedes-Benz, Porsche, and Rolls-Royce come to mind. However, reality often does not match perception. According to a recent study, the Ford Pickup truck is the most popular vehicle for the wealthy earning more than $200,000 annually.
Ford F-150 Is Most Popular Car for Rich Americans Making Over $200K
Wealthy car buyers get the Ford F-150 and other mainstream models
If you didn’t have a lot of financial constraints, what car would you buy? You might think that luxury cars would be the best option for wealthy Americans, but that’s not often the case.
MaritzCX, a marketing research firm, conducted a study of car buying habits based on income bracket. It found that the Ford F-150 pickup truck was the most popular vehicle for people in the United States making more than $200,000 a year.
Also, other studies have shown similar results with the dominant models being favored by wealthy car buyers. A study by Experian Automotive found that for Americans with household incomes greater than $250,000, “61% do not drive luxury brands.” Instead, they mostly drive mainstream models, such as Toyotas, Fords, and Hondas – like people from lower income groups.
Billionaires also drive regular cars
Ford F-150 Is Most Popular Car for Rich Americans Making Over $200K
What about billionaires? Do they flaunt their money buying exotic cars? Some celebrities drive regular cars like “the rest of us”. For example, Mark Zuckerberg, co-founder and CEO of Facebook, was seen driving a Honda Fit compact hatchback. Also, Jeff Bezos, the founder and former CEO of Amazon, drove the Honda Accord long after it became a billionaire.
Additionally, legendary investor Warren Buffet has a reputation for living a simple and frugal lifestyle, including cars. In a documentary, his daughter said, “You have to understand, he keeps the cars until I tell him, ‘This is embarrassing — it’s time for a new car. ”
Moreover, the movie star and former professional wrestler, although they did not become a billionaire, drives a Ford F-150.
Many wealthy drivers don’t feel the need to flaunt their wealth with a luxury car
The common perception is that wealthy Americans have lavish lifestyles. However, often, this is not actually the case.
According to Dave Ramsey, a personal finance expert, people who have built their “level one fortune,” which he defines as a “net worth between $1 million and $10 million,” often drive “undervalued” cars. “It’s usually a used or nice used Honda or a nice old pickup truck of some sort,” Ramsey said.
He went on to explain that these people don’t feel the need to flaunt their wealth with a luxury car: “People who make that layer of wealth, one to ten million dollars, the way they did, they didn’t do it to you. They’re not mad at you, but they don’t care what you think.” They weren’t living their lives to impress others.”
Ford F-150 and other trucks line the line between mainstream and luxury models
One thing to keep in mind about the F-150 and other pickup trucks is that they straddle the line between mainstream and luxury models — depending on the trim level. In the past, pickup trucks were giant vehicles. Despite this, in recent years, pickup trucks have become more and more luxurious, especially for the highest trim levels.
The base-tier 2023 Ford F-150 XL is accessible to many truck buyers, with a starting price of $34,585 for MSRP. However, the Limited Edition F-150, with its wide range of luxury amenities, starts at $84,910. Also, when you add feature options, bundles, accessories, and dealer codes, you may have to pay over $100k to get a new F-150 Limited.
