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· California Über Alles
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So an article on The Bestselling Cars in America's Wealthiest Zip Codes concludes the BMW 328 ranks among the most popular. Don't know why this is, maybe just staying on the down low to discourage kidnappers or hijackers or maybe just to discourage the relatives from putting the touch on 'em. In Manhattan zip code 10274, where the average annual income is $5,711,000, is the fourth most popular car, sandwiched between the Accord and CR-V. To slum any lower, they'd probably have to take the bus.
 

· Always laughing loudest
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The vast majority of millionaires in America earned their money vs inherited it (don't remember the numbers that were quoted). And the common thread amongst those is frugality. There is entire chapter of "The Millionaire Next Door" attributed to being frugal.

Although mere commoners like myself tend to think all millionaires drive lavish cars that advertise their wealth, this is somewhat of a stereotype. Many are simply displaying the same frugal and disciplined spending habits that got them their millions to begin with. Wealth isn't necessarily tantamount to extravagance.

And in terms of spending, a house is still considered an investment, whereas a car virtually never is (ultra-rare exotics aside, whereby you're probably super wealthy already if you can buy it). So they choose to spend wisely on a large house in an appreciating neighborhood vs a car that is just a means to an end for transportation. So in short, I'm not terribly surprised.

Answer 2: The car belongs to their 16 year old daughter and was purchased as a "company car" for a fictitious Cayman Island-based corporation and is written off under accelerated depreciation as part of an expansive tax evading loophole tactic. And the Bentleys are kept inside, away from prying eyes.
 

· Banned
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The car belongs to their 16 year old daughter and was purchased as a "company car" for a fictitious Cayman Island-based corporation and is written off under accelerated depreciation as part of an expansive tax evading loophole tactic. And the Bentleys are kept inside, away from prying eyes.
You got it. High priced spread registered to the company warehouse address.

Live-in staff.

.
 

· pay it forward
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1,486 Posts
Cal, you seem to be fixating on money lately in your posts. I want to know more about whether or not I should put Koni's on my 335xi vs tint.
 

· Tastes like chicken
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1,165 Posts
The vast majority of millionaires in America earned their money vs inherited it (don't remember the numbers that were quoted). And the common thread amongst those is frugality. There is entire chapter of "The Millionaire Next Door" attributed to being frugal.

Although mere commoners like myself tend to think all millionaires drive lavish cars that advertise their wealth, this is somewhat of a stereotype. Many are simply displaying the same frugal and disciplined spending habits that got them their millions to begin with. Wealth isn't necessarily tantamount to extravagance.

And in terms of spending, a house is still considered an investment, whereas a car virtually never is (ultra-rare exotics aside, whereby you're probably super wealthy already if you can buy it). So they choose to spend wisely on a large house in an appreciating neighborhood vs a car that is just a means to an end for transportation. So in short, I'm not terribly surprised.

Answer 2: The car belongs to their 16 year old daughter and was purchased as a "company car" for a fictitious Cayman Island-based corporation and is written off under accelerated depreciation as part of an expansive tax evading loophole tactic. And the Bentleys are kept inside, away from prying eyes.
More than 60% of BMWs are leased (recently that number has been as high as 75%). Tax write-offs are a wonderful thing.
 

· Worlds Foremost Authority
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22,293 Posts
In Manhattan the "Richest Zip Code" statistics can be deceptive. I live in 10021 which is on the Upper East Side and stretches from Central Park to the East River. There are people living in mansions and brownstones that cost tens of millions of dollars, people living in apartments that cost tens of millions of dollars and people living above stores in semi-decrepit rent controlled apartments that pay a few hundred dollars per month. The majority of the residents live in high rise buildings and most of them don't own cars. The cost of living in Manhattan is ridiculousy high. A garage space can costs between $600 and $1000 per month and a car is a luxury rather than a necessity for most people. BMWs are very common and you see a lot of chauffered 7 Series, S Class Mercedes, Bentleys, etc. in front of the most expensive buildings. I don't know what the most common car is in this neighborhood but whatever it is it is not what is owned by the wealthiest residents.

Per Capita income can be deceptive. For example if you take a group of 6 people and one of them has an income of $10,000,000 and the other 5 have an income of $75,000 that works out to an average income of $1,729,166.67. Having a few billionaires in the neighborhood can really skew the statistics,
 

· Registered
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I live next to Franklin Lakes, NJ (yeah the housewives of NJ thing). I have seen more Porsches (GT2, GT3, Turbo ..., 7/6 series, M5s, M3s, Ferraris, Bentlys, Lotus (Loti?), and Lamborghini's than you can shake a stick at. Sure there are a lot of 328's, A4s, Hondas and the like. I am sure most are living close to maxing out thier means, but Wall Street seems to have bounced back and a lot of people here work in that industry.
 

· Worlds Foremost Authority
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Saw a white Ferrari 458 convertable tonight in FL. First vert I have seen for this model. What's the topic of this post?
What Zip Code were you in when you saw it?

CA
 
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