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Anonymous gross income poll of M3 reservation holders
- Thread starter voip-ninja
- Start date
Shouldn't this be more of a function of cash on hand in addition to income? Not everyone lives paycheck to paycheck...
DR61
Member
We live in a relatively low-cost area of California, and our income is near the middle of this poll. But we can EASILY afford to buy a fully optioned M3 for cash (and trade-in). It is not about gross annual income.
Yes, sorry, I didn't take the Czech living situation carefully into account when constructing a quick fun poll to see what the typical reservation holder earns.
Household income is important because in most US and Western European households there is a single family living in the home and many times the adults in the house pool income for purposes of doing things like purchasing extravagant electric automobiles.
That's good data but you also need to realize that in the median car purchasing segment that Model 3 falls into (slightly higher but well under full on luxury purchase territory) the majority of purchasers are going to finance the vehicle or lease it with a small down payment.
My hat is off to those who are financially prudent and put away for years towards a big car purchase they will either make with cash or put a large cash payment down and not have to finance the bulk of the purchase.
I am also in that demographic but it is still the minority for these types of car purchases.
If editing the poll were possible I would add a $150,001-$200,000 and >200,001 option to it, but editing the poll is not possible.
I have to admit that the poll sample skewed much harder towards the top income bracket than I had anticipated.
Why didn't you take the Czech living standard into consideration?!?!?! : )
SageBrush
REJECT Fascism
Would it surprise you learn that households with incomes around 50k are buying cars that cost about half that amount ?
Or that my rural area that has a median income below $40k is awash with trucks and SUVs ?
Some living costs are mostly "fixed" and don't cost more for someone with a high income compared to a low income. Utility bills, cable/internet, groceries.... all more or less fit into this category.
As income goes up those fixed costs remain the same and it becomes easier to justify committing a higher percentage of monthly/annual income to things like vehicle purchases... also a person who wants to drive a nice car and doesn't take a vacation has different expenditures than someone who goes on a fancy two week vacation annually.
Personally, I think that a person with a $50K income who goes out and buys a $25K car is insane, but that's just my .02.
Definitely!
For us, we're enthusiastic to show support for a company that's intent on getting the world away from fossil fuels and also happens to offer the best looking, performing, and safest EVs on the market. Buying TSLA stock could also show support, but def not as sexy or practical of an option for us on a daily basis versus grabbing a Model 3 (will be our only car). Neither the Model S or X are in our price range.
davedavedave
Member
Yep... I think your results are showing a lot of dual income households in that upper bracket...
Here in the DC area you meet a lot of doctor/lawyer couples and the like - well over the $400K gross household income. Of course, they're also squarely in Model S/X territory
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JBare
Member
I'm in the top bracket here, but my family gross income is around $175K. I'm not a fan of debt and I just bought a new house (doubled my payment from the townhouse we were in for 9.5 yrs) but luckily that is our only debt. Unless you include my 5 and 2.5 year old...
Luckily I'm on the East Coast and have at least 6 months to save up a little more. If the Fed tax credit goes away I'll have to back down from 100% to 51% to decide. For me that credit is roughly 1 years worth of payments, or at least how I'm selling it to my wife.
Luckily I'm on the East Coast and have at least 6 months to save up a little more. If the Fed tax credit goes away I'll have to back down from 100% to 51% to decide. For me that credit is roughly 1 years worth of payments, or at least how I'm selling it to my wife.
I wonder if these results are a bit skewed on the high side due to TMC “membership” having a relatively high percentage of existing S/X owners (even in the M3 forum).
sperkin
Active Member
Lol, you're right. In our industry in LA, we start college grads at $160k and they still refuse. They all wanna join Apple, Google, FB, or startups. Can't compelete with tech giants. Also, 160k is nothing here. Middle class.
My household is most definitely off the end of the poll, and a M3 will be a stretch and the most expensive car we've had by a decent margin....
I think that Gross Income can be very deceptive - here in the Seattle area daycare (per child) costs more than mortgages in most of the country. I'd imagine that's true in coastal Cali as well. That's not to mention that the median home price hit 880k last summer.
I think that Gross Income can be very deceptive - here in the Seattle area daycare (per child) costs more than mortgages in most of the country. I'd imagine that's true in coastal Cali as well. That's not to mention that the median home price hit 880k last summer.
Seriously. Our part-time nanny is $1500 a month, which seems like a bargain in this market, and we'll certainly have to add days/pay more after baby #2 arrives next year.
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