No joke. Rich people in America are smart.
The wealthy are wealthy for a reason. Some may be frugal with their money. Some may blow it all on expensive things.... and some do both!
Wealthy people have one thing in common: They know other wealthy people (also not "stupid").
"They can afford to overpay on a new car"
When it comes to leasing cars, the rich never, EVER, pay full price! Not even close.
In fact, rich people probably end up paying less on their lease because of their credit scores earning them Tier One status.
More than just that though, can you name off where a majority of rich people can be found?
LA? NYC? MIAMI?
If you Google searched "Auto Broker New York", you will find a list 5-10X longer than if you ran that same search for a city like Worcester (nothing wrong with Worcester).
Why do they do this?
- No rich person likes to overpay using their hard earned (or inherited) money.
- TIME. No rich person has the time to go back and forth to get the lowest price.
If rich people are using brokers to save them the time and aggravation, why wouldn't you?
The rich don't like to OVERPAY the same way middle class and poor don't like to overpay.
What's stopping the middle class?
"The brokers fee".
Don't you think this would've stopped a rich person, too?
If the rich person worked his ass off to get rich, he can work his ass off to get a great car deal.
Why he paid the brokers fee is because he found the value in it!
Also, rich people know how to make their money work for them. Without a broker or a car buying agents/concierge, programs such as Multiple Security Deposits or Money Factor rate reductions wouldn't even be talked about.
They'd be in the dark the same way as the poor person.
So if a rich person can get a Camry for cheaper and quicker, you should be able to too.
RICH PEOPLE ARE NOT STUPID!