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Convertible drivers more educated

By Tara Baukus Mello · Bankrate.com
Thursday, July 31, 2014
Posted: 6 am ET

If you think that convertibles are only driven by carefree types who live for the sun and the beach, you're only partially right. Convertible buyers are more educated and more affluent than the average new car buyer.

More than 50 percent of all convertible buyers had at least a bachelor's degree compared to 38.2 percent of new car buyers overall, according to a recent Experian Automotive analysis of convertible car buyers in the first quarter of 2014. In addition, nearly 19 percent of convertible buyers had an average household income of $175,000 or more compared to 10.7 percent of average new car buyers. Finally, 11.7 percent owned a home valued at more than $1 million, while only 4.4 percent of average new car buyers owned a home valued at that price.

Convertible drivers also are more likely to be older and without children in the household. Experian said that more than 72 percent of convertible buyers were over age 45 compared to 60 percent of new car buyers overall, and almost 52 percent of convertible buyers had no children in the household compared to just 42 percent of new car buyers on average.

Experian also found that most convertible drivers live in the major metropolitan areas surrounding Los Angeles (6.4 percent), New York City (5.2 percent), San Francisco (2.9 percent), Chicago (2.9 percent) and Atlanta (2.5 percent).

While there were 4.5 million convertibles on U.S. roads in the first quarter of 2014, there are still relatively few compared to other types of cars. Convertibles represent just 1.8 percent of the entire vehicle market in the U.S.

Thinking of going topless? Find out whether you should buy a convertible in the fall or the spring.

Tara Baukus Mello writes the cars blog as well as the weekly Driving for Dollars column, providing both practical financial advice for consumers as well as insight into the latest developments in the automotive world. Follow her on Facebook here or on Twitter @SheDrives.

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29 Comments
Teri
August 01, 2014 at 8:58 pm

It isn't management, engineering, or the laborers that cause the US-brand vehicles to be junk. It is the garbage they are shipping out of Mexico that they are building them with.

terry
August 01, 2014 at 1:03 pm

TO ALAN; I DISAGREE WITH YOUR COMMENT, IN WHICH YOU ARE ENTITLED TO IT.THE UNION PROTECTS TO MANY POOR WORKERS!!! IN REGUARD TO MERCEDES BUILDING CARS DOWN SOUTH. THAT PLANT IS NON-UNION, SHAPE-UP OR SHIP OUT!!! THE CAR I BOUGHT HOWEVER WAS NOT BUILT IN THE USA, IT WAS BUILT IN STUTTGART, GERMANY!!! HOME BASE FOR MERCEDES BENZ!!! IT YOUR MONEY AND CAN BUY WHAT YOU LIKE!!!

ALAN
August 01, 2014 at 11:29 am

Terry
It is not the American workforce to blame for the poor quality of top three cars. It is management. If the American workforce is so terrible why did Mercedes build a plant in the good old US of A.

Al
August 01, 2014 at 11:17 am

I have a BS & MS but I feel convertibles are trendy and not
practical, especially if you live in a suburban area. Don't
automatically equate education with intelligence and common-
sense. People in big cities tend to make more money and having
any particular car or even a second car is more likely for them.

terry
August 01, 2014 at 11:08 am

TO JA; NO RETURNING COMMENTS ON THE WORD REALISM BECAUSE I MISSED THE "L" NOBODYS PERFECT OR ARE THEY??? MERCEDES BENZ!!!THANK YOU VERY MUCH!!!!

terry
August 01, 2014 at 10:54 am

TO JA; MERCEDES BENZ!!! ITS NOT ABOUT THE MONEY OR STATIS SYMBOL!!! ITS MORE ABOUT REAISM AND NO WORRYS!!! I HAVE BOUGHT AMERICAN JUNK!!! FOR 42 YEARS FROM ALL THE BIG THREE(NEW AND USED) I HAVE HAD NOTHING BUT TROUBLES!!! I BOUGHT A PREVIOUSLY OWNED MERCEDES BENZ WHICH COSTS LESS THAN A NEW AMERICAN PRODUCT, AND MY CAR WILL LAST A LOT LONGER!!! I HAVE COME TO THE FACT THAT THE AMERICANS HAVE A VERY POOR WORKFORCE!!! I COULD TAKE MY BENZ FROM CHICAGO(ROUTE 66) TO CALF. WITH NO WORRIES AT ALL!!! CAN YOU SAY THAT??? SEE IF YOUR RIDE CAN MAKE IT THROUGH DEATH VALLEY!!! I WAS WONDERING IF YOU WORK FOR THE BIG THREE??? BECAUSE I DID!!!! JA, PLEASE GET REAL!!!

Kevin
August 01, 2014 at 10:53 am

More educated does not mean smarter !!!

Paul Keats
August 01, 2014 at 10:49 am

I am 66 years old and have 4 grandsons. While servicing my red Corvette Convertible, the shop owner told me of one of his clients, 91 years old, who was talked into trading in his C6 Corvette for a four-door Chevy Malibu, a more practical ride. After a month the old boy brought back the Malibu, which he called a piece of S*&%, and picked up a new Vette, also a C6. Brought it over to the Corvette Shop and had them install a supercharger. The 91 year old is a retired doctor.

JA
August 01, 2014 at 1:58 am

It really is amazing on how a typo error can make people
say the things they say. That just shows how simple minded
people like John, Stotdard, and Harlow really are. I guess
they are perfect

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