Being rich doesn't necessarily mean driving rich. Lots of folks with oodles of money drive a Ford or a Chevy, says a new study.
According to a recent survey of 500 families with at least $5 million in liquid assets, about 40 percent had a "nonprestige" vehicle, said Doug Harrison, CEO of Harrison Group, which did the study with Worth magazine.
And the upper crust also maintains a relatively small fleet: 2.7 vehicles per family. "The Jay Leno factor isn't really present," Harrison said, alluding to the comedian's vast stable of cars.
Many of the affluent don't discard their proletarian wheels, perhaps because being rich hasn't sunk in. Eighty-one percent of those studied said they considered themselves middle-class at heart - even though their average net worth was $28 million, according to the survey.
And while the well-heeled don't immediately shed their Chevys upon making it big, their preferences do evolve. The No. 1 brand was Mercedes, followed by BMW and Lexus.