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

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

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.

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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.

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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.

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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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This article originally appeared on GOBankingRates.com: 10 Cars Only the Rich Can Afford in 2024

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


10 Cars Only the Rich Can Afford in 2024? ›

"2024 is probably the best year since the pandemic to buy a new car," Mark Schirmer, director of industry insights at Cox Automotive, told ABC News. "2021 and 2022 were really difficult years. Dealers are talking about discounts again ... this was not happening 18 months ago.

Will it be better to buy a car in 2024? ›

"2024 is probably the best year since the pandemic to buy a new car," Mark Schirmer, director of industry insights at Cox Automotive, told ABC News. "2021 and 2022 were really difficult years. Dealers are talking about discounts again ... this was not happening 18 months ago.

How many people have 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 not to say to 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

Will cars get cheaper in 2024? ›

Car Prices Will Likely Continue To Decrease

“Last month, the average price for a new vehicle was [$47,936] — a [1.4%] dip from last year, according to the latest KBB data. This suggests that new car prices might drop in 2024.” One factor that could lead to price drops is an oversupply of new cars.

What is the 20 3 8 rule? ›

The 20/3/8 car buying rule says you should put 20% down, pay off your car loan in three years (36 months), and spend no more than 8% of your pretax income on car payments. As we go into depth to determine how realistic this rule is, you may consider whether it can actually help you budget for your next car.

Do millionaires have car payments? ›

The average millionaire drives a nice, slightly used, two- or three-year-old car that they bought with cash, and they practically never drive a brand-new car off the lot. People always say, “Well, Dave, if I were a millionaire, I'd be able to pay cash for a car too!” No, you're not getting it.

How many millionaires purchase a car rather than lease? ›

But what about the acquisition methods employed by America's millionaires? According to my national survey database of millionaires, overall only 11.3% [about 1 in 9] leased their most recently acquired vehicle. Also, only 13.8% of millionaires indicated that they leased a Mercedes-Benz [Toyota 8.0%].

Will cars be cheaper in 2025? ›

Car prices could fall by about 7% by 2025, providing some much-needed relief for car shoppers after years of jacked-up prices, according to consultancy AlixPartners. But the drop won't be the result of individual vehicles getting cheaper.

What is the forecast for automotive sales in 2024? ›

Retail sales of new vehicles are expected to reach 1,225,000 units, a 10.7% increase from March 2023. New-vehicle retail sales for Q1 2024 are projected to reach 3,066,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days.

What will the interest rate be on a car loan in 2024? ›

Prediction: Auto loan rates edge down to 7%

McBride expects five-year new car loans to drop to 7% by the end of the year.

What is the outlook for the automotive industry in 2024? ›

The automotive supply chain will likely never look like it did pre-pandemic, but inventory levels generally recovered in 2023 and are expected to continue doing so in 2024 and 2025. Car prices remain elevated in 2024 due to inflation but are showing initial signs of decreasing as inventory stabilizes.

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