Author Topic: Car Value Vs Net Worth  (Read 24732 times)

englishteacheralex

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Re: Car Value Vs Net Worth
« Reply #100 on: June 10, 2018, 11:07:55 AM »
Cheap cars are the cornerstone of our financial plan, since two kids in daycare and a mortgage in paradise kill so much other potential frugality for us.

2003 Matrix 112k miles: probably could get $2k for it
2007 Mazda 5 70k miles: maybe $3800?

Net worth: $315k

1.7%

tomsang

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Re: Car Value Vs Net Worth
« Reply #101 on: June 10, 2018, 01:35:21 PM »
Three cars which total to .23% of networth.

meatgrinder

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Re: Car Value Vs Net Worth
« Reply #102 on: June 10, 2018, 11:51:07 PM »
two cars (95 camry and 03 accord) total to 0.16% of NW

SpreadsheetMan

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Re: Car Value Vs Net Worth
« Reply #103 on: June 11, 2018, 01:42:59 AM »
Amusing thread. 0.02% for me.

Low value car rather than massive wealth though :-)

Faramir

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Re: Car Value Vs Net Worth
« Reply #104 on: June 11, 2018, 01:58:51 AM »
Net Worth      US$650K
2 Cars Total   US$9.7K

1.5% of NW

mrmoonymartian

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Re: Car Value Vs Net Worth
« Reply #105 on: June 11, 2018, 02:26:17 AM »
Currently 1% for me.

Herbert Derp

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Re: Car Value Vs Net Worth
« Reply #106 on: June 11, 2018, 03:41:26 AM »
0.0042% for me (razor scooter)

Rightflyer

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Re: Car Value Vs Net Worth
« Reply #107 on: June 11, 2018, 04:59:53 AM »
0.0042% for me (razor scooter)

Amusing thread. 0.02% for me.

Low value car rather than massive wealth though :-)

You folks are RICH!!

$1000 car @ .02% =$5 millon

$100 scooter @ .0042% = $2.38 million

Congrats

arebelspy

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Re: Car Value Vs Net Worth
« Reply #108 on: March 29, 2019, 07:46:56 PM »
our car is worth about 0.33% of our net worth.

We sold that car a few months after that post, went carless for multiple years (an RV for a bit in there), and now have a car again. Purchased October 2018.

Using the number we paid for it, and our net worth that month, it comes to 0.36% of our NW.

Pretty similar to before (though car is worth quite a bit more, NW has risen quite a bit as well), and if I guesstimate what it's worth now six months later, with our current NW, it's around .32%.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
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Zamboni

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Re: Car Value Vs Net Worth
« Reply #109 on: March 29, 2019, 08:20:16 PM »
Leave it to Herbert Derp to make me laugh.

Currently I have 2 cars and a van (3 drivers here), so my number probably isn't great. The vehicles aren't worth much, though, in terms of selling value: 2003, 2003, and 2014 model years. All run like tops and are worth a lot to us in terms of driving value.

Dicey

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Re: Car Value Vs Net Worth
« Reply #110 on: March 30, 2019, 12:52:02 AM »
our car is worth about 0.33% of our net worth.

We sold that car a few months after that post, went carless for multiple years (an RV for a bit in there), and now have a car again. Purchased October 2018.

Using the number we paid for it, and our net worth that month, it comes to 0.36% of our NW.

Pretty similar to before (though car is worth quite a bit more, NW has risen quite a bit as well), and if I guesstimate what it's worth now six months later, with our current NW, it's around .32%.
Did you sell the RV? If so, did you do okay on it?

Dicey

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Re: Car Value Vs Net Worth
« Reply #111 on: March 30, 2019, 01:00:02 AM »
Currently I have 2 3 cars and a van (3 drivers here)... The vehicles aren't worth much, though, in terms of selling value: 2003, 2003, and 2014 model years. All run like tops and are worth a lot to us in terms of driving value.
Wow, parallel vehicle lives! Ours are the same years and the description of their condition matches, too.

They are such a small fraction of our NW that we don't count them at all.

middo

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Re: Car Value Vs Net Worth
« Reply #112 on: March 30, 2019, 01:11:18 AM »
When we bought our "new car" it was worth .025% of our net worth.  Not sure what it is worth now, but it hasn't gone up in value.

Little Aussie Battler

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Re: Car Value Vs Net Worth
« Reply #113 on: March 30, 2019, 02:10:57 AM »
About 2%.

Apples

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Re: Car Value Vs Net Worth
« Reply #114 on: March 30, 2019, 07:31:47 AM »
Our car is 8.3% of our net worth.  My (bought brand new) truck is owned by the family business and my Dad chose it, so I don't count it.  Our car is the car my parents bought for me at 18, with the agreement that I would buy it from them when I got into the "real world".  I've now owned it a year, and I have driven it for 5 years.  110,000 miles.  My husband was putting a killer 120 mi/day commute on it, but now it's down to 40/day!  Woohoo! (No, we won't be moving and he won't get closer-this is one of the cons of living on a farm not near a city that the other person can work in).

The next car we buy will probably be about 5-8% of net worth, then drop in value from there.

Most of my friends have vehicles they either own outright since 16 or bought brand new with payments two years ago at graduation.

Tailrated we're close to your numbers!

We're up to 2 vehicles (plus the farm truck), and based on the price of the 2nd one I thought we'd for sure have a higher %.  The two cars together are 7.7% of our net worth.  Not too bad for a 2009 SUV with 170,000 miles and a 2015 SUV bought 3 years old with 50,000 miles.

Oh this is fun to do a 1 year later update.  I believe our vehicles are now worth about 5.05% of our net worth.  Moving the right direction!

philli14

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Re: Car Value Vs Net Worth
« Reply #115 on: March 30, 2019, 09:47:56 AM »
Yikes, I have some work to do. But I plan on (A) having this vehicle for a long time and (B) seeing my net worth explode in the next few years :)

2015 Toyota Corolla S with 94k miles

9.1% of my net worth.

New future goal of getting that number <1%!

arebelspy

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Re: Car Value Vs Net Worth
« Reply #116 on: March 30, 2019, 10:24:22 AM »
Did you sell the RV?

It's on consignment as of 3 days ago.

We used it a total of approximately one week in 2018, and none at all in 2019, so it was well past time to sell it.
We are two former teachers who accumulated a bunch of real estate, retired at 29, and now travel the world full time with two kids.
If you want to know more about me, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

Fishindude

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Re: Car Value Vs Net Worth
« Reply #117 on: March 30, 2019, 10:38:04 AM »
1.3%
High net worth with three late model automobiles.

Car Jack

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Re: Car Value Vs Net Worth
« Reply #118 on: March 31, 2019, 10:28:40 AM »
1.3%
High net worth with three late model automobiles.

4 vehicles: 14 Wrangler Unlimited (a favorite of MMM....yuk, yuk), 17 Legacy Limited, 09 Fusion, 13 Crosstrek.  Total estimated $53k.  1.77%.  This will go higher.  The Crosstrek is getting the short block replaced under the oil consumption settlement in a couple weeks and then we're looking to trade it for a new Crosstrek manual (yes, OMG, I'm buying a new car :D).  Before the winter hits, my younger son will get his license so the Fusion will go and an AWD something will join the family.  I don't know what yet, so my % is going to about double.  All the car swaps will be for cash, of course.  And yes, we use snow tires.  I have more snow tire sets than I have cars (no, really, I have 7 full sets of snows on wheels).

2Birds1Stone

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Re: Car Value Vs Net Worth
« Reply #119 on: March 31, 2019, 11:02:34 AM »
Net Worth - $114k
KBB Vehicle Value - $8k

7.5%

However I have only been at this for 4 years.

Net Worth - $375k
KBB Vehicle Value - $15k

4%

Progress!

I sold the motorcycle and  NW is up by 5%, so now my car is worth 2.9% of NW.

Love this thread

Our NW = $586k
2 Cars total value = $12k

2%

If I sell my older sports luxury car, we are down to one $1k value vehicle =) 2004 Nissan Sentra, base model. I'm listing it in May.
« Last Edit: March 31, 2019, 03:45:11 PM by 2Birds1Stone »

Le Barbu

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Re: Car Value Vs Net Worth
« Reply #120 on: March 31, 2019, 12:07:40 PM »
NW 1.1M$
Cars worth 11k$ (2006 Civic, 2010 Forester) so 1% of NW

I aim for buying 3-8 years old car for less than 10% of annual income and pay cash

Update: same cars, worth less than 10k$ now, NM 1.2M$ so we’re down to 0.8%

RWD

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Re: Car Value Vs Net Worth
« Reply #121 on: March 31, 2019, 01:18:45 PM »
8.4%.........

Bateaux

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Re: Car Value Vs Net Worth
« Reply #122 on: March 31, 2019, 06:07:59 PM »
Net worth 1.6 Million.  Car is 2003 Dodge Ram Conversion Van.  Dodge 318 engine.  125,000 miles.  Worth $1500.  Maybe.  So less than 0.1% of Net Worth

Sold the Dodge Van, $1,200.  Miss her dearly.

Now drive 2008 Honda Accord with 205K miles.   Value, about $1,500. 
New net worth of investments 2.1M.  Car = about 0.07% of net worth.

Money Badger

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Re: Car Value Vs Net Worth
« Reply #123 on: April 12, 2019, 07:45:40 PM »
4% today.   By FIRE in 2021, less than 3% is the goal.

Both are quite new and love them 2 yrs into ownership and drive less than 12K mi per year so hope we enjoy them 10+ years from here. 

Taran Wanderer

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Re: Car Value Vs Net Worth
« Reply #124 on: April 12, 2019, 09:26:32 PM »
2.7%, recently up from 1.5%.  3% is my comfortable ratio, down from 10% when our net worth was much lower.  We could make it lower, but I like a nice car, and I get mileage reimbursement from work that covers most of the cost.

guelphinvestor

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Re: Car Value Vs Net Worth
« Reply #125 on: April 13, 2019, 09:48:43 AM »
0.5 %

Sent from my Nexus 5 using Tapatalk


LeftA

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Re: Car Value Vs Net Worth
« Reply #126 on: April 13, 2019, 12:02:51 PM »
Around 1.8%.

Two cars bought new in 2010 and 2013.

TheHobbit

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Re: Car Value Vs Net Worth
« Reply #127 on: April 28, 2019, 06:44:54 PM »
0.18%,  NW in low M’s.

Kem

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Re: Car Value Vs Net Worth
« Reply #128 on: April 28, 2019, 07:42:59 PM »
NW 122K
Car: 2001 Honda accord manual, purchased for $1,500 3 years ago. Just general upkeep (full list here https://forum.mrmoneymustache.com/welcome-to-the-forum/when-do-you-call-it-quits-on-a-car/)
 
The Honda replaced a $32K vw TDI which liked to leave me stranded and required frequent major repairs... Plus it was fully financed (dang financial illiteracy).

jiimmy

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Re: Car Value Vs Net Worth
« Reply #129 on: May 18, 2019, 09:20:39 AM »
2009 Kia Rio base with 116k miles: ~$1600
NW roughly $80k

Ratio of 2%

My goal is to hit the sub 1% mark a year from now, as NW continues to increase and the ol' Kia continues to slowly depreciate.




leland

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Re: Car Value Vs Net Worth
« Reply #130 on: May 18, 2019, 02:04:22 PM »
0.07% :D

That's with overestimating KBB a tad, but not counting the deferred repairs that baby will need... Sadly when it finally goes I'll probably be in the 0.5-1% range (assuming NW is in the 1-2MM neighborhood).

FLOW

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Re: Car Value Vs Net Worth
« Reply #131 on: May 18, 2019, 02:16:46 PM »
Old Toyota Corolla with 199K miles on it: $2,500, maybe?

Net worth: 527K

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #132 on: May 20, 2019, 12:08:33 PM »
0.29%

Total value of cars/trucks =$9000

NW 3.1M

DadJokes

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Re: Car Value Vs Net Worth
« Reply #133 on: Today at 05:28:19 AM »
Well, I don't think I like this game very much.

2012 GMC Terrain: ~$8.5k
2013 Ford Fusion: ~$7.5k
Net worth: ~$80k

Ratio: 0.2

Enigma

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Re: Car Value Vs Net Worth
« Reply #134 on: Today at 08:01:34 AM »
KBB - 0.40% of my net worth.  Debating on if I should upgrade.