George Kamel wrote the book “Breaking Free From Broke.” He also co-hosts “The Ramsey Show.” The bestselling author often helps Americans get out of debt and work their way up to millionaire status. A lot of the work to get there doesn’t have so much to do with how much income you bring in (although, of course, this matters to a point). Rather, it has a lot to do with managing your spending. And most American millionaires, according to Kamel, drive car brands many of us would find, well…pretty boring.
Keep in mind that the average new car costs about $48,000. You might think that’s nothing a millionaire would blink at. However, Ramsey, Kamel, and the rest of their crew insist that their surveys show that millionaires ain’t buying Ferrari, Mercedes-Benz, or Lamborghini models. And they’re mostly not spending $48,000 on any one car, either.
Top 5 car brands American millionaires drive
5. Subaru
These days, used Subaru vehicles, such as the Crosstrek, list between around $9,500 and cap out around $40k. For instance, a 2023 Subaru Crosstrek 2.5i Sport with 18,982 miles is priced at $26,500.
4. Lexus
Used Lexus RX 350 models range from around $18,000 for a 2014 model with 107,250 miles to over $60,000 for newer, certified pre-owned versions.
3. Ford
Certain 2025 Ford F-150 models, like the Raptor, can run buyers as much as $112,000. Used Ford F-150 SuperCrew Cab models from 2020 are priced between $23,696 and $37,374, depending on the trim and mileage.
2. Honda
Used Honda Accord models are available in a wide price range. For example, a 2016 Honda Accord Touring with 102,136 miles is listed at about $18k. You can go older and pay less than $15k. Used Honda CR-V models also vary in price, but are much cheaper than the average new car price. For instance, a 2019 Honda CR-V EX with 45,000 miles is listed at $24,500.
1. Toyota is the top car brand that millionaires drive
You can find lots of used Toyota Camry versions for under $20,000. The RAV4 goes for under $30k used if you’re looking for something in the 5-7 year range.
Millionaires prefer reliable, paid-off cars
This year, the average new car payment is more than $700.
According to Kamel, “Most millionaires buy used cars with cash, avoiding car payments like the plague. They know that driving a fancy car isn’t a sign of success—financial peace is.”
So if you think you need a $1,000 car payment to keep up with your friends, you might need to adjust your thinking…or find new friends.
