Why Do Many Affluent Individuals Drive Old Subarus?

The common stereotype that rich people tend to drive old Subarus is a misconception. This perception stems from selective observations rather than a widespread trend among the wealthy. There are, however, several valid reasons why some affluent individuals might choose to drive older Subarus or similar vehicles.

Practicality and Reliability

Subarus are renowned for their practicality and reliability, particularly due to their all-wheel drive (AWD) capability. Many wealthy individuals prioritize functionality over branding. AWD vehicles are ideal for various driving conditions, making them reliable and suitable for different terrains and climates. Wealthy buyers who value their automobiles for practical use may find these vehicles more appealing than high-end luxuries.

Anti-Status Symbol

Some affluent people intentionally choose less flashy cars to avoid drawing attention to their wealth. This practice can be seen as a counter to consumerism and status-driven behavior. Driving a more modest vehicle can serve as a personal statement, indicating a preference for genuine experiences over material possessions.

Environmental Concerns

With growing awareness of environmental issues, some wealthy individuals may opt for older, more fuel-efficient cars as part of their commitment to sustainability. While they might be able to afford luxury vehicles with top-of-the-line environmental features, they might choose less expensive cars with proven fuel efficiency, aligning with their values on environmental responsibility.

Nostalgia and Sentimentality

Older Subarus, particularly models like the Subaru Outback, can evoke a sense of nostalgia and connection to simpler times. These cars can hold a sentimental value for many people, regardless of their financial status. Nostalgia can be a powerful factor in purchasing decisions, prompting many to seek out older models that hold a personal significance.

Cost-Effectiveness

Maintaining an older car can be more cost-effective than purchasing a new luxury vehicle. Wealthy individuals might prefer to invest their money elsewhere, such as in business ventures, investments, or improving their quality of life in other ways. Even when the cost of maintaining an older vehicle is higher, this might still be a more financially prudent decision compared to buying a new, expensive car.

However, it is essential to note that this trend is not universally applicable. Affluent individuals may prefer high-end luxury vehicles like BMW, Porsche, or Audi. These cars often offer the latest technology, superior performance, and luxury features that align with their status and personal preferences.

For example, high earners or professionals who work in industries like finance or law may drive newer, expensive luxury vehicles to convey their success and status. Conversely, those working in academia or public service may find older Subarus to be a practical and personal choice due to their familiarity and cost-effectiveness.

Illustrative of these dynamics, I have worked with many highly paid professionals, and none of them drive Subarus. Instead, they prefer high-end brands like BMW and Porsche. My daughter, who works in academia, drives Subarus because these vehicles are common in university staff parking lots. This trend reflects the individual preferences and values of the individuals rather than a universal trend among the affluent.

Furthermore, it is important to consider that many affluent individuals have diverse budgets and priorities. For instance, forty years ago, some might have driven RWD Volvos, which were known for their reliability and efficiency. As Volvo began to compete with other premium brands and the cost of maintenance increased, some found a cheaper alternative in AWD Subarus. This shift highlights the practical considerations that may factor into their purchasing decisions.

Lastly, my personal experience with driving a 2003 Outback with 200,000 miles on it speaks to the cost-effectiveness and sentimentality of older vehicles. When I purchased it for $6,000 in 2012, it contributed significantly to my financial wellness. Conversely, my aspiration to waste my money on a similar vintage Jaguar XJR reflects the luxury and status associated with newer, more expensive vehicles.

Overall, the choice of driving an older Subaru or luxury vehicles among the wealthy is characterized by a combination of practicality, personal values, budget, and brand loyalty. While the stereotype of the wealthy driving old Subarus exists, it is a misleading and oversimplified view of a complex and diverse reality.