Why Millionaires Drive Old Cars
Ever wondered why millionaires drive old cars? The Millionaire Next Door famously states that “Only a minority of [millionaires] drive the current model year automobile.” And about 33% of those millionaires-next-door only buy used cars.
At a glance, it may be hard to understand why they’d choose to drive an old car, or to buy a new car and then hang onto it for years instead of replacing it regularly.
“If I were rich,” you might think, “I’d drive a really nice new car.”
After all, you’d think a millionaire could afford a brand new car. So why not get the latest and greatest?
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