{"id":7064751,"date":"2026-09-23T11:28:56","date_gmt":"2026-09-23T11:28:56","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/finance\/92-of-self-made-millionaires-do-not-own-a-luxury-automobile\/"},"modified":"2026-09-23T11:28:56","modified_gmt":"2026-09-23T11:28:56","slug":"92-of-self-made-millionaires-do-not-own-a-luxury-automobile","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7064751","title":{"rendered":"92% of Self-Made Millionaires Do Not Own a Luxury Automobile"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<figure id=\"attachment_119900\" aria-describedby=\"caption-attachment-119900\" style=\"width: 702px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ez3ykfnip4f.exactdn.com\/images\/92-percent-of-self-made-millionaires-do-not-own-a-luxury-automobile.jpg?strip=all&amp;w=2560\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-119900\" src=\"https:\/\/ez3ykfnip4f.exactdn.com\/images\/92-percent-of-self-made-millionaires-do-not-own-a-luxury-automobile.jpg?strip=all\" alt=\"Image of a rich man contrasted with a poor man.\" width=\"702\" height=\"443\" \/><\/a><figcaption id=\"caption-attachment-119900\" class=\"wp-caption-text\">Image of a rich man contrasted with a poor man. Image source: Richhabits.net.<\/figcaption><\/figure>\n<p class=\"wp-block-paragraph\">In my five-year long <a href=\"https:\/\/richhabits.net\/rich-habits-study-background-and-methodology\/\" target=\"_blank\" rel=\"noopener\">Rich Habits Study<\/a> I studied the habits of 233 wealthy individuals and 128 poor individuals. I asked each individual 144 questions about every aspect of their lives, which translates into 51,984 questions. Thanks to my study, I learned some interesting things about the wealthy that I never knew or read about before.<\/p>\n<p class=\"wp-block-paragraph\">One of those interesting things was the fact that 92% of self-made millionaires said they did not drive a luxury automobile. I just assumed most wealthy individuals owned luxury cars, so this surprised me.<\/p>\n<p class=\"wp-block-paragraph\">Another data point which caught me by surprise was that 97% of the self-made millionaires in my Study did not lease their cars. Instead, they almost all purchased their cars and took excellent care of their cars, which enabled them to drive their cars for ten years or more. These millionaires only replaced their car when either the transmission or engine needed to be replaced.<\/p>\n<p class=\"wp-block-paragraph\">Here\u2019s another interesting fact \u2013 55% of the self-made millionaires in my Study purchased only used cars. These were typically new cars coming off a two or three-year lease.<\/p>\n<p class=\"wp-block-paragraph\">I learned from my study that most self-made millionaires saw cars as a utility or tool to get them from point A to point B. They weren\u2019t interested in or didn\u2019t need to impress others by driving some luxury automobile.<\/p>\n<p class=\"wp-block-paragraph\">Before I embarked on my Rich Habits Study, I had driven a Mazda RX7 sports car, Jaguar, Lincoln Continental and even leased a Mercedes. Nice cars!<\/p>\n<p class=\"wp-block-paragraph\">My Study data caused me to think long and hard about any future cars I would drive.<\/p>\n<p class=\"wp-block-paragraph\">In 2013 I purchased a new 2013 Hyundai Elantra. It cost me about $26,000 back then. I decided to pay $500 a month, with the goal of paying off the loan on my car within 4 years, which I accomplished.<\/p>\n<p class=\"wp-block-paragraph\">When I purchased that car, I wanted to do what most of the millionaires in my study did and drive it until the transmission or engine needed to be replaced.<\/p>\n<p class=\"wp-block-paragraph\">Like my self-made millionaires, I have been diligent about taking care of my Elantra. I have been driving this car for 11 years now and have, at this writing, 196,400 miles on it. This year, I set a goal of trying to hit 250,000 miles or more on my car.<\/p>\n<p class=\"wp-block-paragraph\">I think my self-made millionaires would be proud of me.<\/p>\n<p>The post <a href=\"https:\/\/www.cleverdude.com\/content\/92-of-self-made-millionaires-do-not-own-a-luxury-automobile\/\">92% of Self-Made Millionaires Do Not Own a Luxury Automobile<\/a> appeared first on <a href=\"https:\/\/www.cleverdude.com\">Clever Dude Personal Finance &amp; Money<\/a>.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>Image of a rich man contrasted with a poor man. Image source: Richhabits.net. In my five-year long Rich Habits Study I studied the habits of 233 wealthy individuals and 128 poor individuals. I asked each individual 144 questions about every aspect of their lives, which translates into 51,984 questions. Thanks to my study, I learned [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7064752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[67146,358,6836,82607],"dealstore":[],"offerexpiration":[],"class_list":["post-7064751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-automobile","tag-luxury","tag-millionaires","tag-selfmade"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>92% of Self-Made Millionaires Do Not Own a Luxury Automobile - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7064751\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"92% of Self-Made Millionaires Do Not Own a Luxury Automobile - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Image of a rich man contrasted with a poor man. Image source: Richhabits.net. In my five-year long Rich Habits Study I studied the habits of 233 wealthy individuals and 128 poor individuals. I asked each individual 144 questions about every aspect of their lives, which translates into 51,984 questions. Thanks to my study, I learned [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=7064751\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-23T11:28:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/09\/92-percent-of-self-made-millionaires-do-not-own-a-luxury-automobile.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"702\" \/>\n\t<meta property=\"og:image:height\" content=\"443\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=7064751#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=7064751\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"92% of Self-Made Millionaires Do Not Own a Luxury Automobile\",\"datePublished\":\"2026-09-23T11:28:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=7064751\"},\"wordCount\":429,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/fivemor.com\/?p=7064751#primaryimage\"},\"thumbnailUrl\":\"https:\/\/fivemor.com\/wp-content\/uploads\/2026\/09\/92-percent-of-self-made-millionaires-do-not-own-a-luxury-automobile.jpg\",\"keywords\":[\"Automobile\",\"Luxury\",\"Millionaires\",\"SelfMade\"],\"articleSection\":[\"Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=7064751#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=7064751\",\"url\":\"https:\/\/fivemor.com\/?p=7064751\",\"name\":\"92% of Self-Made Millionaires Do Not Own a Luxury Automobile - 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