Mark Cuban Drove An Abandoned Car He Found After His $200 Fiat With Holes In The Floorboard Died – 'I Was Determined To Be Able To Retire'

Long before billionaire Mark Cuban splurged on NBA teams and private jets, he drove cars that cost less than $200 – one of which he even found abandoned. Reflecting on his early days in a December 2022 episode of the Club Random Podcast with Bill Maher, Cuban shared how his passion for financial independence drove him to make unique choices with money and his lifestyle.

Don't Miss:

• Many are using this retirement income calculator to check if they’re on pace — here’s a breakdown on how on what’s behind this formula.
• $100K Sitting In A CD Account, Should I Move Money Into The Stock Market?

In 1982, fresh out of Indiana and chasing opportunities in Dallas, Cuban's 1977 Fiat X1/9 broke down, leaving him without a car. To make things worse, the Fiat had holes in the floorboard, making it unreliable and dangerous. Without a reliable vehicle and limited funds, Cuban relied on friends to get around until, one day, he stumbled on a surprising opportunity: a car abandoned on the side of the road.

He immediately made his friends pull over. He spotted an envelope stuffed with loan documents on the front seat inside the unlocked car. Realizing someone likely gave up the car due to missed payments, Cuban had an idea. "I knew from my own personal experience that someone had abandoned [the car] because they couldn't make the payment," he told Maher. With his history of bad credit and a deep understanding of financial struggles, Cuban took a chance. The next day, he called the bank, explained he'd found the car and asked if he could take over payments. Incredibly, they agreed and Cuban was back on the road.

Trending: Can you guess how many retire with a $5,000,000 nest egg? The percentage may shock you.

Of course, this "strategy" isn't exactly replicable today, as Cuban pointed out to Maher. In the digital age, speaking directly with a bank to make a deal like this is nearly impossible and finding an abandoned car with paperwork intact is just as rare. However, Cuban's resourcefulness and determination to live affordably still hold valuable lessons for anyone hoping to save big.

This car saga is just one example of how creatively Cuban lived on a tight budget. At 24, he shared a three-bedroom apartment with five roommates, eating macaroni and cheese and scoring supermarket discounts to keep his expenses low. Cuban told Maher he used to shop for food at midnight when grocery stores slashed prices on certain items. "I used to go to the grocery store at midnight because they lowered the price of chicken and these big [bags of] french fries to $1.29," Cuban recalled. "And I would buy a bunch of them."

See Also: According to Vanguard’s Advisor’s Alpha Study, working with a financial advisor can result in approximately 3% higher net returns annually, here are the benefits of partnering with a financial advisor and how to find the right one near you in minutes.

His lean lifestyle went beyond his living situation and diet, though. It was grounded in a bigger goal: financial independence. In a 2017 Money interview, Cuban reflected on his younger self, "I was determined to be able to retire. I valued time more than anything. I wanted enough money to travel, have fun and party like a rock star but still live like a student. That was my motivation."

Cuban's relentless drive eventually led to his big break. After years of hustling, he launched a software company called MicroSolutions, which he sold for $6 million in 1990. This set him on the path to building the immense fortune he has today, estimated at $5.1 billion. His next big move came in 1999 when he sold his second company, Broadcast.com, to Yahoo for nearly $6 billion, cementing his status as one of the world's wealthiest self-made billionaires.

For those hoping to achieve financial freedom, Cuban's story is a reminder that the path isn't always glamorous, but strategic frugality and ambition can set a strong foundation. Just remember, consulting a financial advisor can help you make the most of your resources while avoiding some of the tougher financial hurdles Cuban faced.

Read Next:

• Studies show 50% of consumers think Financial Advisors cost much more than they do — to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.
• How do billionaires pay less in income tax than you? Tax deferring is their number one strategy.