Wealthy people might be able to afford luxury cars.
but not everyone opts to buy them. Many economically-minded affulent individuals opt to drive a surprisingly affordable car.
That way, they pay less on installments — or on a total amount, in case they are to pay the full amount — and may also spend less on repairing. Expensive cars often have a higher repair cost compared with more reasonably priced automobiles.
“Non-luxury cars that the upper class buy to save money are almost always EV leases,” said Noah Damsky, chartered financial analyst (CFA) and principal at Marina Wealth Advisors. “We pass along great deals on EVs that we come across to clients.”
“Leases qualify for the $7,500 EV tax credit
so they’re a great way for the upper class to capitalize on the opportunity since their income exceeds the qualification limits to get the tax credit on a purchase,” he said.
While many wealthy individuals are buying non-luxury electric vehicles, others are sticking to traditional gas-powered models. Sarah Maitre, CFA, financial planner and founder Camriel Advisors, has worked with highly-compensated clients who fit into this category.
If you’re interested in getting around town like the economically-minded wealthy individuals who drive affordable cars, you’re in luck. Damsky and Maitre shared a look at seven non-luxury cars the upper class are driving to save money.
Hyundai Ioniq5
- Baseline price: $42,500
An electric SUV, the Hyundai Ioniq5 has a Tesla Supercharger compatible NACS port and comes with complimentary factory scheduled maintenance for three years — a feature of every 2025 Hyundai.
Hyundai Ioniq6
- Baseline price: $37,750
The Hyundai Ioniq6 is an electric sedan with up to 320 horsepower and an EPA-estimated 342-mile range.
Kia EV6
Baseline price: $42,600
A powerful lightweight electric sedan, the Kia EV6 offers fast charging, near-instant acceleration and is designed to handle the elements.
Toyota Prius
Baseline price: $28,350
A classic option for eco-conscious individuals, Maitre said clients like the great gas mileage — 57 miles per gallon combined — offered by the Toyota Prius.
Subaru Crosstrek
Baseline price: $25,810
Offering all-wheel drive and 8.7 inches of ground clearance, Maitre said wealthy clients like the Subaru Crosstrek for weekend trips to the mountains.
Honda Odyssey
Baseline price: $42,220
Maitre said wealthy clients like the Honda Odyssey — a minivan with seating for eight — because it’s a classic family car that’s extremely affordable. The top Elite trim starts at $51,180.
Ford F-150
Baseline price: $38,710
Offering seating for up to six and a 13,500-pound towing capacity, Maitre said upper-class clients with homes outside the city have opted for the Ford F-150.
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