by Jackie Beck
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 a used car, or to buy a new car and then hang onto it instead of replacing it regularly.
“If I were rich,” you might think, “I’d drive a really nice car.”
After all, you’d think a millionaire could afford a brand new car. So why not get the latest and greatest? Read the rest of this entry »Posted in Money Management on 06.19.13 with 2 comments.