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The Middle Class buying the majority of the Model S's?

Discussion in 'Model S' started by Alexander, Aug 4, 2013.

?

Who's Buying the Model S

  1. $16k or Less - Lower Class

    2 vote(s)
    0.8%
  2. $16k to $30K - Working Class

    1 vote(s)
    0.4%
  3. $35k to $75k - Middle Class

    17 vote(s)
    6.9%
  4. $80k to $195k - Upper Middle Class

    113 vote(s)
    45.7%
  5. $200 to $380k - Upper Class

    72 vote(s)
    29.1%
  6. $395k or More - 1%'ers (per 2009 IRS data on what classifies a 1%'er)

    42 vote(s)
    17.0%
  1. Alexander

    Alexander P# 8,878

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    #1 Alexander, Aug 4, 2013
    Last edited: Aug 6, 2013
    I've ran into a lot of Model S owners/reservationists that (like myself) fall into the Middle or Upper Middle Class category for income. So much so, that I'm curious to see who's buying/reserving Model S's. My feeling is that the Upper Middle Class is driving most of the demand, but I want to see if that's true.

    Cast your vote! If your married, this would be your combined yearly income.

    Also, vote here as well: Model-S-Buyers-What-s-Your-Income
     
  2. v12 to 12v

    v12 to 12v Active Member

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    There was a a few studies done and it was discovered that almost all Americans think that they are "Middle Class", regardless of their income or living situation because, as they see it, there is always someone else that has more or less money and assets than they have. There is a few obvious exceptions, of of course.

    What is the source of your income bracket qualifications? It seems as if the definitions would be variable due to economic region/location.
    Just curious. This has always been a fascination of mine.
     
  3. Alexander

    Alexander P# 8,878

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  4. JRP3

    JRP3 Hyperactive Member

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    Very interested to see the results. So far it's about what I would have predicted, and rather disproves the "1%er" theory so many detractors try to claim.
     
  5. darthvdr

    darthvdr Member

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    I fall into the 42% category. This is a very nice visual. However, I am interested to see what the split is between 85k-$130k and 130k-195k
     
  6. gg_got_a_tesla

    gg_got_a_tesla Model S: VIN P65513, Model 3 Res Holder

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    The issue I have with raw income brackets such as here is that they don't take into account regional differences in cost of living. For e.g., with say, $200K, I can live like a king in the suburbs of Dallas, TX but, would be 'just okay' in the SF Bay Area.
     
  7. AmpedRealtor

    AmpedRealtor Active Member

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    I live in Phoenix, own five homes (four are rentals, one primary), two person household making a combined income of approximately $150k. Primary house has a pool w/ 14 kW solar array. $110,000 Model S soon to be in my driveway. Combined monthly payment for Model S and primary residence: $1,900. Yes, you can have it all... :)
     
  8. islandbayy

    islandbayy Active Member

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    I'm working class. I make 2 mortgages, 2 auto payments (including the model s), have 2 children, and have never missed or been late on a bill in my life. I don't make a lot, though, I know how to spend wisely, and I can still add to my GROWING savings :) . That, and I'm VERY good at Roulette ;)

    I attribute this to my parents for teaching me good money managment skills. More people my age should know how to spend wisely. (I'm 28)
     
  9. Jason S

    Jason S Model S Sig Perf (P85)

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    This is looking at income as opposed to assets. Assets will determine to a large degree the people who can buy a Model S while income determines how much people get before expenses in a year.
     
  10. ckessel

    ckessel Active Member

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    That could just as easily describe a lot of upper class. Just because they make a high yearly salary doesn't mean they don't have mortgages and car payments, albeit much more expensive ones.

    I don't know anyone "middle class" looking at a model S, but lots of lower upper class folks like attorneys, senior software engineers, and such are interested. I'm a software guy and Turbo Tax tells me each year I'm near the upper 15% in total income.
     
  11. brianman

    brianman Burrito Founder

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    As others have noted, these categories are problematic because they aren't defined.

    Some view the upper class as "never worried about money". Even that is loosely defined.

    Do I worry about starving? No; to some that makes me at least middle class.
    Do I worry about paying the bills on larger items (mortgage)? Yes; to some that makes me not upper class.

    In some social circles, there's a stigma to being lower class so many people want to think of themselves as at least middle class.
    In some social circles, there's a stigma to being upper class so many people want to think of themselves as at most middle class.

    Thus, the realistic definition for some is:
    00.0000000-00.0000001% Lower class
    00.0000002-99.9999999% Middle class

    And then let's talk about taxes... "Oh, no no... I'm lower class. Don't tax me."
     
  12. NigelM

    NigelM Recovering Member

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    1. We already had this poll: Model-S-Buyers-What-s-Your-Income

    2. The result will always be a data spread from a TMC subset and not representative of Model S owners as a whole
     
  13. jerry33

    jerry33 S85 - VIN:P05130 - 3/2/13

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    Been there.

    That's me now.
     
  14. brianman

    brianman Burrito Founder

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    Please make it clear when you modify someone's text while quoting them.

    At best it's confusing. In this case it it's not a huge deal, but it did make me go back to my original post because I thought I must have typo'd that.
     
  15. B-Chicago

    B-Chicago Member

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    Jerry33. Unacceptable!
     
  16. Lloyd

    Lloyd Active Member

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    You did not define what income you are polling. Gross, Net, taxable, savings??
     
  17. earlyretirement

    earlyretirement Model X 90D

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    I totally agree with Lloyd. I assumed they are talking about Gross income.
     
  18. Alexander

    Alexander P# 8,878

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    I intentionally left it up to interpretation.

    My gross income would of put me in one category, and my net would of put me in another. Since economic class structures can be categorized is several different ways (living standards, yearly income, and even perception), I decided to keep it vague so voters could decide for themselves.

    Personally, I choose to vote based on my net income because I feel that my standard of living is more in line with my net income and not my gross. Others would/do feel differently.
     
  19. Alexander

    Alexander P# 8,878

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    Only posting to refresh this. By now there should be more owners which means more data points and voters :D
     
  20. Pilot_51

    Pilot_51 Member

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    By gross income I'm bottom upper middle class. After taxes and employee "benefits" I'm solid middle class. After rent (room & board), insurance, and gas, my spendable income is between working class and middle class. Almost all of it goes toward my Model S purchase. I'll pretty much have no money for the next year or so while I pay it off as quickly as possible.
     

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