10 Cars Only the Rich Can Afford in 2024 (2024)

10 Cars Only the Rich Can Afford in 2024 (1)

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The average list price of a new 2024 car came to just under $49,100 in January 2024, according to Cars.com, which is lower than in August 2023 when the price added up to a high of $50,253. And yet, even with automotive prices dropping, there will still be some ultra-expensive 2024 model cars that only rich people can buy.

Some start in the low six figures, then go higher and cost a bundle just to take off the lot. What makes these cars so expensive and luxurious? GOBankingRates reached out to some automotive experts to get their takes — along with the key features and manufacturer’s suggested retail price (MSRP) — on what cars only the rich can afford in 2024. Here is the list of the top ten.

Mercedes Vision AMG

“[M]ost high-end luxury cars, like Mercedes-Benz, get you into the territory where not only are they extremely expensive to buy, but expensive to maintain as well,” said Ben Michael, director of auto at Michael & Associates.

The estimated starting MSRP for the 2024 Mercedes Vision AMG is $136,050, which Michael said is due to “various trim and design options” that only make that price tag go up the more you decide to add on to this luxury vehicle.

“You’ll need to find a shop or dealership that will service them, you’ll need proprietary parts, tools and even fluids,” Michael said.

Ferrari Purosangue

“If you are into Sports Utility Vehicles (SUV) and Ferraris, this is the car you always dreamed about,” said Geoff Cudd, consumer advocate and owner of Findthebestcarprice.com.

“A four-door Ferrari SUV by itself is a significant boost to the prancing horse inventory,” Cudd said. “The car gets a 6.5-liter naturally aspirated V12 engine that produces 715 horsepower and 528 pounds of torque. This can help the big Ferrari to go from 0-62 mph in just 3.2 seconds with a top speed of 193 mph.”

The price tag attached to this model of Ferrari — which is estimated to sell for around $398,350 — also makes it a smart buy for anyone hunting for a luxury-performance car in 2024, Cudd said.

Rolls-Royce Phantom

“The 2024 Rolls-Royce Phantom is the pinnacle of luxury, crafted with unmatched attention to detail,” said Jason Mueller, the marketing manager at A-1 Auto Transport.

“Its lavish features like custom-tailored interiors, enhanced legroom, starlight headliner and uncompromised attention to detail make it the epitome of luxury,” said Chris Estrada, CEO & founder of Nationwide United Auto Transport.

“A robust V12 engine drives its plush interior and smooth performance,” Mueller said, noting that this year’s Rolls-Royce model is priced around $450,000. “[T]he Phantom is more than a car; it’s a status symbol, offering a driving experience akin to moving in a piece of fine art.”

Lamborghini Aventador SVJ

“With its fierce V12 engine and bold design, the Aventador SVJ is the epitome of Lamborghini’s daring spirit,” Mueller said.

“It’s incredibly fast and visually striking, making it a favorite among those who crave thrill and luxury, with prices starting over $500,000. It’s a car that looks as powerful as it feels on the road,” Mueller said.

Ferrari SF90 Stradale

“The SF90 Stradale is Ferrari’s leap into the hybrid future, blending immense power with electric efficiency,” Mueller said.

Cudd said, “[T]his hybrid supercar offers blistering performance, innovative hybrid technology and the Ferrari legacy of luxury and speed.”

“The Ferrari SF90 is one of the most beautiful Ferrari cars of all time and the 2024 variant does not disappoint,” said Ralph Robert, content writer and car enthusiast at Way, a car savings app. “If you have some more money to spend, you could go for the top-of-the-line SF90 XX variant that produces 1016 hp.”

“With nearly 1,000 horsepower, it’s a speed demon that doesn’t compromise on luxury or innovation, priced around $500,000,” Mueller said. “It represents Ferrari’s commitment to pushing boundaries and redefining what a supercar can be.”

Lamborghini Revuelto

For $608,000, you can pick up your own Revuelto, which gets the trophy for being the first plug-in hybrid from the Italian manufacturer with global brand recognition.

“If you love Lamborghini, the new Revuelto is probably the perfect combination of their greatest cars. It is powered by a 6.5-liter V12 engine that produces 814hp,” Robert said. “As a [plug-in hybrid electric vehicle] (PHEV), the car also gets three electric motors — two driving the front wheels and the third one integrated into the eight-speed automatic transmission. Together, they produce a whopping 1001 hp, making it one of the most powerful cars at this price range.”

McLaren Senna

The McLaren Senna needs no introduction, Robert said, calling it “one of the most iconic racers ever.”

“While it’s a borderline six-figure car with price tiptoeing between $900,000 to [over] $1,000,000, this car won’t give you regrets. The car has a 4.0-liter V8 engine that produces 789 hp and 590 pounds of torque,” Robert said.

“The McLaren Senna also gets a seven-speed dual-clutch automatic transmission,” Robert said. “This is one lightning-quick car with a zero to 60 mph of just 2.8 seconds and adjustable suspension that improves aerodynamic efficiency.”

Lamborghini Sian

Estrada also had a Lamborghini on the list, only this time it was the 2024 Sian, which only a multimillionaire could afford.

“At around $2.6 million, it boasts of a V12 engine and electric motor combo, making it Lamborghini’s first hybrid vehicle,” Estrada said.

It’s a rare model of car no matter what year due to its small production line output. “Exclusivity comes from its limited numbers — only 63 in production,” Estrada said.

Aston Martin Valkyrie

“The Valkyrie is Aston Martin’s vision of a hypercar, blending racetrack performance with road-going practicality, priced at an estimated $3.2 million,” Mueller said.

This 2024 Valkyrie from Aston Martin “presents a powerful V12 engine. Its lavish interiors, unique design inspired by Formula 1 race cars and cutting-edge aerodynamics explain the pricing,” Estrada said.

“It’s incredibly rare and powerful, designed with input from Formula 1 experts to deliver an unparalleled driving experience,” Mueller said. “For those who get their hands on one, it’s not just a car; it’s a collector’s dream.”

Bugatti Chiron

“At around $3.5 million, the Bugatti Chiron is the definition of a hypercar…with off-the-charts horsepower,” Mueller said.

The Super Sport edition “offers unbeatable speed, sporting a quad-turbocharged W16 engine,” Estrada said. “Its [reputation] for high performance, exclusivity and design are what truly set it apart.”

“At the pinnacle of automotive extravagance, the Bugatti Chiron commands attention,” Cudd said. “This machine is the epitome of performance and luxury,” labeling it as top-tier craftsmanship in the automotive field.

“Owning a Chiron means belonging to an exclusive club of automotive enthusiasts,” Mueller said.

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10 Cars Only the Rich Can Afford in 2024 (2024)

FAQs

10 Cars Only the Rich Can Afford in 2024? ›

That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data. For individuals, the numbers are even worse, with 82 percent of people below the $100,000 line.

How many people drive cars they can't afford? ›

That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data. For individuals, the numbers are even worse, with 82 percent of people below the $100,000 line.

What will cars be like in 10 years? ›

Based on our expert's predictions, cars in 10 years' time will still look quite familiar, and resemble some of the high-end super cars usually reserved for the rich and famous. Advances in materials could increase the use of carbon fiber, graphene and composites in automotive manufacturing.

Are 2024 cars available? ›

What Month Do 2024 Cars Come Out? Automakers typically begin rolling out their 2024 model year vehicles in the summer of the previous year – or sometimes earlier. There are a number of 2024 model year vehicles that have already been released prior to the new year while others will debut in just a few months.

Why can't the middle class afford a new car? ›

The average American salary isn't high enough to afford a brand-new car. Rising costs, interest rates, insurance rates and gas prices are putting pressure on the American middle class — but that doesn't mean there's no hope. It might just mean that new cars aren't worth the hype anymore.

Are cars becoming unaffordable? ›

"Simply put, cars have become more expensive," Joseph Yoon, consumer insights analyst at car consumer guide Edmunds—an online resource for cars inventory and information—told Newsweek. "In November 2019, the average transaction price for a new vehicle was $38,500. In November of 2023, that figure jumped to $47,939."

Will there still be gas cars in 10 years? ›

A measure approved by the California Air Resources Board in August 2022 requires all new cars, SUVs and pickup trucks sold in the state to generate zero tailpipe emissions by 2035.

What car will last you the longest? ›

The 20 Longest-Lasting Cars You Can Buy
  • What are the longest-lasting vehicles on the road? A study by iSeeCars.com provides the answer. ...
  • Toyota Land Cruiser. Toyota. ...
  • Toyota Tundra. Toyota. ...
  • Ford F-250 Super Duty. Ford F-Series Super Duty. ...
  • Honda Pilot. Honda. ...
  • GMC Sierra 2500HD. GMC. ...
  • Chevrolet Silverado 2500 HD. ...
  • Toyota Avalon.
Mar 17, 2024

Will cars become obsolete? ›

Many states have passed laws or had governors sign executive orders banning the sale of new gasoline passenger cars in their states by 2035. If this happens nationally, most passenger cars on the road by 2050 could be electric.

Will 2024 be a good year to buy a car? ›

Experts say that 2024 will be the best year to purchase a new car since 2019. As interest rates slowly drop throughout the remainder of the year, payments will become more manageable. Don't overlook manufacturer rate promotions, as they can save you thousands of dollars.

Which car is best to buy in 2024? ›

Top 10 Popular Cars in 2024
ModelPriceMileage / Range
Mahindra TharRs. 11.25 Lakh9 kmpl - 15.2 Kmpl
Tata PunchRs. 6.12 Lakh18.8 Kmpl - 26.99 Km/Kg
Hyundai CretaRs. 10.99 Lakh17.4 Kmpl - 21.8 Kmpl
Maruti SwiftRs. 6.24 Lakh22 kmpl - 30.9 Km/Kg
6 more rows

What not to say to a car salesman? ›

Eliminating the following statements when you buy a car can help you negotiate a better deal.
  • 'I love this car! ' ...
  • 'I've got to have a monthly payment of $350. ' ...
  • 'My lease is up next week. ' ...
  • 'I want $10,000 for my trade-in, and I won't take a penny less. ' ...
  • 'I've been looking all over for this color. '
Feb 14, 2021

What percentage of people can't afford a car? ›

Based on the Market Watch data, more than 60% of American households can't afford to purchase a new car, which even rules out cheaper vehicles like the Toyota Corolla and Nissan Versa. It's even worse for single people, as 82% are earning below the $100,000 threshold.

How many people in poverty own a car? ›

The 2021 data indicates a reversal, as the share of workers in poverty commuting by personal vehicle now exceeds the rate of others. According to American Community Survey data, 71.6% of in poverty workers use personal vehicles, 2.3% above other commuters, at 70.1%.

Can the average American afford a car? ›

Jerry says the average annual costs for a used car come in at about $12,200. For a median-earning household with about $64,000 of real after-tax income, paying that sum would mean spending 19% of their earnings on a used car. In other words, the once-frugal choice of transportation is now slightly out of budget.

What percentage of people have a car payment? ›

According to a recent survey of over 1,000 Americans conducted by GOBankingRates, 40% stated that they had a car monthly payment. Of those who admitted to having car payments, 46% said they were spending between $301 to $500 monthly.

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