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Study says convertible owners have more money and smarts

Convertibles convey a sense of abandon like no other vehicle type can!
Convertibles convey a sense of abandon like no other vehicle type can!Ford

Reportedly, owning a convertible puts you smack dab with an elitist group of folks, who are typically wealthier and smarter than the average Joes. Experian Automotive, a leading global information services company that provides data and analytical tools to clients worldwide, released information from an analysis that examined trends connected to convertibles. According to the Schaumburg, Illinois company’s findings there are plenty of other eye-openings conclusions about open-air car owners.

And speaking of being more affluent, nearly 19 percent of convertible car owners have an average household income of $175,000 and 12 percent of them even own homes that cost upwards of $1 million. According to Brad Smith, director for Experian Automotive, "The one long-standing perception of convertible vehicles is that they are driven predominantly by consumers who live in sunny, coastal areas. While that notion certainly rings true, it's not the only difference. Our research shows that convertible drivers also tend to be more affluent than the average new car buyer. One explanation to this could be that more luxury brands tend to have a convertible option," Smith noted in a press release.
As far as education, more than fifty percent of ragtop owners have college degrees compared to only 38 percent of average car buyers. Age-wise, 72 percent of those who prefer to drive convertibles are middle-aged, 45 years or older. And interestingly enough, fifty-two percent of these buyers who opt for open-air vehicles either never had, or no longer have a child living with them.

Hot climate lovers, who live in the Sunbelt regions of the U.S., prefer getting behind the wheel of vehicles that enable them to bask in the sun and have their hair whipping across their faces. Experian contends, twenty-three of all convertibles are registered in just three states—California, Florida and Texas.

Even though there are reportedly 4.5 million ragtops registered and on the roads across this country, the vehicles only account for a mere 1.8 percent of the total car market, states Experian. But which are the most popular convertibles on the road today? Experian shares the most preferred ragtops:

1) Ford Mustang
2) Chrysler Sebring
3) Mazda Miata MX-5
4) BMW 3-Series
5) Chevrolet Corvette

--Car Chick