Author Topic: Car Value Vs Net Worth  (Read 53215 times)

Dicey

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Re: Car Value Vs Net Worth
« Reply #200 on: July 30, 2021, 03:31:25 PM »
I love when an old thread gets revived. There is so much good stuff in our archives!

I especially love when people post updates.

I have a new to me car since this thread began. DH and bonus kid are still happily driving the same vehicles. I was just fine driving my old car, but DH does the maintenance and he deemed it time to go. We considered a Tesla, but I don't want the stress of such a fancy car, plus the driving ranges are not yet well suited to our needs. My "new"car is still older than this thread, lol. All of them are paid for and I can't be arsed to look up their values, but it's miniscule, compared to our TNW. I'm mostly posting to say congratulations to everyone for making such good progress during the last three years!
Hahaha, look what I wrote three years ago!

We still have all the same cars, but we added an RV, which we paid about $70k. We bought it just as the pandemic started, so we haven't used it much. Our cost per use is astronomical, but we hope to whittle that down in the next few years. All four vehicles are paid for and equal about 2.5% of our TNW.

Note to @boarder42, welcome back. Looks like you have continued to make great progress.
...well, it looks like our cars to net worth ratio is about to drop considerably. It's an MPP for sure.

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #201 on: July 30, 2021, 06:32:15 PM »
@spartana Yeah I have not rode a bike since I emigrated to the US in '96. I'd probably be dead in a week due to the other road users.

Sure miss a fast bike though. I rode a Monster once.. Not the fastest by any means but it was so much fun and handled like a dream..:)

On the new car thing, this is why we just plunked down $35k on a new SUV. When used ones are only a few k less than new and they come with a warranty, it doesn't make much sense buying used.
Used car prices are crazy now. New prices aren't great either but I hoping that will change eventually. So for now I will continue being carless (getting close to 2 years!). When I first Fired I had 2 motorcycles - a small old cruiser I used to commute to work (and morphed into my road trip vehicle after FIRE) and a the crotch rocket Suzuki for fun stuff. Eventually got rid of them both and got an old Ranger truck with a shell for camping and then got the Ducati for fun stuff. But living in SoCal with crazy drivers lead me to sell that but still tempted to buy an ADV type motorcycle but we will see.

Sadly my Wife has heard all my war stories about riding fast bikes back in England, so I mentioned getting a CBR1000RR it was met with a flat "Hell No!"..:(
LOL Wise woman! Lots of horrific accidents and death when it comes to riding (my brother was killed while riding - which I remind myself every time I get motorcycle lust). I think if I lived somewhere safer to ride I might get another bike but for now a little camper van I can haul my mountain bike to cool riding/camping areas sounds like a better idea. At least I don't fly plane like some crazy people do ;-). Now that might take a bigger percent of your NW then your DWs new SUV.

Yeah it would.. And did!..:)

So sorry you lost your Brother, how awful....:(

Dicey

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Re: Car Value Vs Net Worth
« Reply #202 on: July 30, 2021, 10:53:56 PM »
Oh hell no. Were not selling anything.

2Birds1Stone

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Re: Car Value Vs Net Worth
« Reply #203 on: August 03, 2021, 05:14:52 PM »
@Exflyboy, if you don't mind sharing, what was your wife's dream car?

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #204 on: August 03, 2021, 05:49:58 PM »
@Exflyboy, if you don't mind sharing, what was your wife's dream car?

For her its probably not a dream car in the sense of a specific make/model. More of a vehicle that serves a specific need. In this case DW loves to ski which of course means mountains and snow. So an AWD (with ground clearance) car makes travelling to ski areas a much safer proposition.

We both also like to camp so enough room to lie down comfortably is high on the priority.

As our current car is an unreliable and fragile POS (a Chevy Cruze), reliability is high on our list of features.

The Cruze has never actually broken down but every time I open the hood I find something that needs to be fixed. Needless to say any future cars will not have a Chevvy badge on the front!

Zamboni

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Re: Car Value Vs Net Worth
« Reply #205 on: August 03, 2021, 10:03:39 PM »
Oh dear, if I don't count those technically co-owned with college students, my calc is 0.07%-0.23% range now.

KBB research reveals my van is especially sketch . . . I just spent more than half of what it is "worth" buying four new tires bc the old ones dry rotted during the pandemic. But it only has 180K miles on it and it runs like a top! Sure, only one of the passenger side doors can be unlocked from the outside with a key that is now different from the ignition key, which had to be rekeyed, but I'm used to it. Just like I'm used to having to hip bump the rear doors from the outside to get them to completely shut.

I've had a brand new BMW (courtesy of my ex-) in the past and I drive nice new cars when I rent them on trips . . . and I just don't get it. Why do people spend so much money on cars? Traffic laws mean that the overall driving experience is just not that different from driving my beater.

clarkfan1979

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Re: Car Value Vs Net Worth
« Reply #206 on: August 12, 2021, 01:45:39 PM »
2007 Pontiac Vibe: $3000
2007 Honda CRV: $4500
2003 Honda Odyssey: $3500
1973 Camper (22 ft.): $8000

Total Vehicles: $19,000

Net Worth: 1.14 million

Dave Ramsey has a guideline that the total value of your cars should be less than 50% of your annual income. He also recommends not buying a new car with zero miles until your net worth is greater than 1 million. 

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #207 on: August 13, 2021, 08:07:59 PM »
2007 Pontiac Vibe: $3000
2007 Honda CRV: $4500
2003 Honda Odyssey: $3500
1973 Camper (22 ft.): $8000

Total Vehicles: $19,000

Net Worth: 1.14 million

Dave Ramsey has a guideline that the total value of your cars should be less than 50% of your annual income. He also recommends not buying a new car with zero miles until your net worth is greater than 1 million.

Did the vehicles/NW = 5% max not come from DR?

ender

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Re: Car Value Vs Net Worth
« Reply #208 on: August 14, 2021, 07:32:52 AM »
Dave Ramsey talks a lot about depreciating assets not being more than 50% of your income (so anything with engines - so he'd include boats/ATVs/etc).

Which makes sense as a general rule of thumb imo.

jiimmy

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Re: Car Value Vs Net Worth
« Reply #209 on: November 01, 2021, 11:52:28 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.

Car is worth more than I thought, $2.2k

NW of $175k

1.3%

Maybe I'll achieve the elusive sub 1% in 2022.

Car 2200
NW 225000
0.98%

Yay!

This will look even better in the spring, when I go car free. Only vehicle at that point would be my bike, worth about $200

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #210 on: November 01, 2021, 02:34:39 PM »
Since we just bought a new car I should update.

So we now have

1) 2021 Honda Passport Sport
2) 2012 Chev Cruze
3) 1989 POS F250 truck

This brings car value vs NW to exactly 1%.

2Birds1Stone

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Re: Car Value Vs Net Worth
« Reply #211 on: November 01, 2021, 03:55:25 PM »
1990's Subaru Outback worth ~.1% of our NW =D

Car Jack

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Re: Car Value Vs Net Worth
« Reply #212 on: November 03, 2021, 12:02:14 PM »
Never being one to follow the cheap car guy, I've made a firm decision to buy a car in the spring.  Not a replacement car, not something because my other cars are unreliable, but a more fun car.  The car will be a silver Subaru BRZ limited with a 6 speed manual transmission and I'll spring for the factory car cover.  As I head into retirement, it's ultra clear that we have way more than we need.  I've had toy cars at many times in my life, so this isn't new.  I haven't had one since selling my Lotus Elise while my son was in expensive private engineering college.  This is a good, practical choice for me.  Other cars under serious consideration were a Porsche 718 Cayman GT4, a new Lotus Emira and a Nissan GT-R.  The Subaru matches what I like.  Low cost, good handling, hard top, no sunroof, manual seats, not drawing a ton of attention.  I'm looking forward for the new design to hit the showrooms soon and will wait out the winter and my post-accident medical treatments, then go buy one.

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #213 on: November 07, 2021, 12:13:56 AM »
Never being one to follow the cheap car guy, I've made a firm decision to buy a car in the spring.  Not a replacement car, not something because my other cars are unreliable, but a more fun car.  The car will be a silver Subaru BRZ limited with a 6 speed manual transmission and I'll spring for the factory car cover.  As I head into retirement, it's ultra clear that we have way more than we need.  I've had toy cars at many times in my life, so this isn't new.  I haven't had one since selling my Lotus Elise while my son was in expensive private engineering college.  This is a good, practical choice for me.  Other cars under serious consideration were a Porsche 718 Cayman GT4, a new Lotus Emira and a Nissan GT-R.  The Subaru matches what I like.  Low cost, good handling, hard top, no sunroof, manual seats, not drawing a ton of attention.  I'm looking forward for the new design to hit the showrooms soon and will wait out the winter and my post-accident medical treatments, then go buy one.

having grown up in the UK, light nimble cars with a manual transmission is in my blood. My first car was a 1966 MG Midget that I bought at University in 1981. I did a ton of mods and loved that car. Not the fastest but handled well.

I today hanker after the modern equivalent so the Soobie BRZ or the Toyota GR 86 is on my list.

I need to wear out our 2012 Chevvy Cruze first though, maybe it will blow up..:)

RWD

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Re: Car Value Vs Net Worth
« Reply #214 on: January 26, 2022, 10:22:37 AM »
8.4%.........

It's fun to come back and look at this again. It's been almost two years and we replaced one car (with an approximately equal value car). Down to 5.1% of net worth.

Replaced our cheaper car with a new EV. Brings us back up to ~9%.

Taran Wanderer

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Re: Car Value Vs Net Worth
« Reply #215 on: January 28, 2022, 08:43:36 PM »
With the market dropping and used car values through the roof, our car value to net worth ratio is actually climbing.

Wolfpack Mustachian

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Re: Car Value Vs Net Worth
« Reply #216 on: January 29, 2022, 06:36:42 AM »
I like this thread's concept. I'm always proud of my low-cost vehicles, although having 3 albeit low cost puts me in poor company here. That being said, I'm around 0.75% which I don't think is too bad!

RWD

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Re: Car Value Vs Net Worth
« Reply #217 on: January 29, 2022, 11:03:45 AM »
I like this thread's concept. I'm always proud of my low-cost vehicles, although having 3 albeit low cost puts me in poor company here. That being said, I'm around 0.75% which I don't think is too bad!
Anything under 1% is basically a rounding error to your overall finances.

Bateaux

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Re: Car Value Vs Net Worth
« Reply #218 on: January 30, 2022, 06:54:55 PM »
About two weeks ago, I took a ferry boat across the Mississippi River to buy a used set of tires and rims.  My 14 year old Honda Accord had 4 different brands of tires and all in bad condition.  The new set has a smaller diameter rim and taller rubber sidewalls.  The taller rubber sidewalls give a softer ride.
Telling the story at work, I was called a cheap bastard by one coworker.  Another coworker commented, he's a cheap bastard and that's why he's a rich bastard.

CanadianTeacher

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Re: Car Value Vs Net Worth
« Reply #219 on: January 30, 2022, 07:30:09 PM »
1997 Chevy Cavalier. I calculate it's about 0.2% of my networth.

Tyson

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Re: Car Value Vs Net Worth
« Reply #220 on: February 06, 2022, 07:35:45 PM »
2007 Acura MDX - $7k
Net Worth - $820k

Car is 0.8% of my total net worth.

JAYSLOL

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Re: Car Value Vs Net Worth
« Reply #221 on: February 06, 2022, 09:31:52 PM »
About two weeks ago, I took a ferry boat across the Mississippi River to buy a used set of tires and rims.  My 14 year old Honda Accord had 4 different brands of tires and all in bad condition.  The new set has a smaller diameter rim and taller rubber sidewalls.  The taller rubber sidewalls give a softer ride.
Telling the story at work, I was called a cheap bastard by one coworker.  Another coworker commented, he's a cheap bastard and that's why he's a rich bastard.

That’s awesome, I’ve bought lots of sets of used tires with and without rims whenever I find a deal on them, sometimes I can use them on my car, and most of the time I resell them.  It’s an item where prices can be all over the map and it pays to keep an eye out for deals. 

Just Joe

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Re: Car Value Vs Net Worth
« Reply #222 on: February 07, 2022, 09:51:29 AM »
Our cars (x7) used to represent about 3% of our net worth. Parked another antique in the garage to restore and that screwed up the math badly. Worth a bit now, worth alot finished, will cost a fair bit to restore it. I DIY everything.

Our daily driver cars are low value vehicles. There is one nicer weekend vehicle. Three antiques in progress. Need to finish one this summer.

Car Jack

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Re: Car Value Vs Net Worth
« Reply #223 on: February 07, 2022, 10:06:43 AM »
Never being one to follow the cheap car guy, I've made a firm decision to buy a car in the spring.  Not a replacement car, not something because my other cars are unreliable, but a more fun car.  The car will be a silver Subaru BRZ limited with a 6 speed manual transmission and I'll spring for the factory car cover.  As I head into retirement, it's ultra clear that we have way more than we need.  I've had toy cars at many times in my life, so this isn't new.  I haven't had one since selling my Lotus Elise while my son was in expensive private engineering college.  This is a good, practical choice for me.  Other cars under serious consideration were a Porsche 718 Cayman GT4, a new Lotus Emira and a Nissan GT-R.  The Subaru matches what I like.  Low cost, good handling, hard top, no sunroof, manual seats, not drawing a ton of attention.  I'm looking forward for the new design to hit the showrooms soon and will wait out the winter and my post-accident medical treatments, then go buy one.



having grown up in the UK, light nimble cars with a manual transmission is in my blood. My first car was a 1966 MG Midget that I bought at University in 1981. I did a ton of mods and loved that car. Not the fastest but handled well.

I today hanker after the modern equivalent so the Soobie BRZ or the Toyota GR 86 is on my list.

I need to wear out our 2012 Chevvy Cruze first though, maybe it will blow up..:)

I can see that while I have always been on the west side of the pond, we grew up thinking the same.  My first car was a 69 MGB.  Through the years, I've owned a ton of light, low power sports cars.  Started as MGs of various varieties, then a trio of Alfa Spiders.  Various others followed, including track cars.

Dicey

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Re: Car Value Vs Net Worth
« Reply #224 on: February 27, 2022, 09:06:39 AM »
About two weeks ago, I took a ferry boat across the Mississippi River to buy a used set of tires and rims.  My 14 year old Honda Accord had 4 different brands of tires and all in bad condition.  The new set has a smaller diameter rim and taller rubber sidewalls.  The taller rubber sidewalls give a softer ride.
Telling the story at work, I was called a cheap bastard by one coworker.  Another coworker commented, he's a cheap bastard and that's why he's a rich bastard.
I love this story, but why were you driving a vehicle with such shitty tires in the first place? You are a rich dude.

In other news, we peeked at used car values recently, inspired by the ad DH saw for an RV of the same make and model as ours. The rig has 100k more miles on it than ours and is in much more worn condition, yet they want 60% more than we paid two years ago. Turns out, all of our vehicles (1 per driver, plus RV) are worth way more than they used to be. This doesn't really have any effect on our car values-to-net-worth ratio, but it was a fun discovery.

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Re: Car Value Vs Net Worth
« Reply #225 on: January 11, 2024, 10:32:33 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!

Well it's been a while, but I do enjoy seeing the changes through time.  Sorry to everyone who never wanted to see this thread again!

Our cars:  $28,250   A 2015 Subaru Forester and a 2022 Toyota Corolla
Our net worth:  $936,189
3.02% of our net worth.   Might get it down to 2% by the end of 2024?

Arbitrage

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Re: Car Value Vs Net Worth
« Reply #226 on: January 11, 2024, 11:00:52 AM »
Ooh, forgot about this zombie thread, and in the interim I've become even more disdainful of car spending and car culture.

Family of 4
2014 Subaru Outback - $10500
E-bike #1 - $2500
E-bike #2 - $600 (old and needs a new battery)

Net worth - $2.4M

Ratio - 0.57%

RWD

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Re: Car Value Vs Net Worth
« Reply #227 on: January 11, 2024, 11:15:16 AM »
8.4%.........

It's fun to come back and look at this again. It's been almost two years and we replaced one car (with an approximately equal value car). Down to 5.1% of net worth.

Replaced our cheaper car with a new EV. Brings us back up to ~9%.

It's been another two years... back down to 5.3%. Same cars as last update, so just a combination of depreciation and net worth increase.

GilesMM

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Re: Car Value Vs Net Worth
« Reply #228 on: January 11, 2024, 11:34:02 AM »
We bought a third car (summer convertible) bringing us up to a whopping O.2%.

Tigerpine

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Re: Car Value Vs Net Worth
« Reply #229 on: January 11, 2024, 11:49:01 AM »
0.17% based on Kelley's Blue Book value for our car.

2Birds1Stone

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Re: Car Value Vs Net Worth
« Reply #230 on: January 11, 2024, 11:59:07 AM »
1990's Subaru Outback worth ~.1% of our NW =D

We're down to 0% since 2019........soon to be ~5%

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #231 on: January 11, 2024, 04:33:30 PM »
I have to sheepishly admit this calculation is partly why I sold my airplane. I.e it was just hard to stomach $100,000 sitting in what was effectively a toy. Especially as our net investments (not counting house) was a bit under $1M at the time. Even though that airplane is worth double today what I sold it for.. the S&P500 has done quite a bit better which is where I put the money the moment the check cleared.

Oh I also sold our '89 F250 this week, so that will make a HUGE difference..;)

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Re: Car Value Vs Net Worth
« Reply #232 on: January 11, 2024, 07:23:54 PM »
0.5%

I'm astounded at the continuing high level our cars are valued at.   
While the ASKing prices at Autotrader are probably high, my 2000 Boxster is about 9 to 11K (paid 15K in 2011), and DW  2011 HHR is listed at about 5 to 7K (we paid her mother 8K, a discount at the time).
Even 199,000 mile HHR is listed as 5K or more.   

The top and even average prices for fairly high mileage examples of each are astounding.  I would have expected them to level out at 2K or so.

Oh crap, if you add in my motorcycles it becomes    0.7%, mostly due to a 1980 Honda CBX, which I've seen listed for ridiculous prices on Ebay.   
Mine is NOT a unused low mile museum example. It is 60,000 miles of 6 cylinder fun and noise, so I expect a lower price when they pry it out of my dead hands.  Not my problem. 

Exflyboy

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Re: Car Value Vs Net Worth
« Reply #233 on: January 11, 2024, 07:58:17 PM »
0.5%

I'm astounded at the continuing high level our cars are valued at.   
While the ASKing prices at Autotrader are probably high, my 2000 Boxster is about 9 to 11K (paid 15K in 2011), and DW  2011 HHR is listed at about 5 to 7K (we paid her mother 8K, a discount at the time).
Even 199,000 mile HHR is listed as 5K or more.   

The top and even average prices for fairly high mileage examples of each are astounding.  I would have expected them to level out at 2K or so.

Oh crap, if you add in my motorcycles it becomes    0.7%, mostly due to a 1980 Honda CBX, which I've seen listed for ridiculous prices on Ebay.   
Mine is NOT a unused low mile museum example. It is 60,000 miles of 6 cylinder fun and noise, so I expect a lower price when they pry it out of my dead hands.  Not my problem.

Wow I have bot seen a CBX for about 30 years!

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Re: Car Value Vs Net Worth
« Reply #234 on: January 12, 2024, 07:38:43 AM »
KBB says the private party value of my 2007 Focus hatchback is $2,456. Seems high, but I'll take it :). That puts it at 0.48% of NW.

Same car. KBB now says $2,825. Strange world we live in.

.38% of NW.

Redhotdog

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Re: Car Value Vs Net Worth
« Reply #235 on: January 14, 2024, 01:03:40 AM »
Net worth 7.5M usd
1 family car, 13 years old, bought used 7 years ago. 105k miles. About 13k in car Value, so 0.17% of net worth.

I fancy a 911. Have done for years. Maybe when we cross 10M (but likely not). I still get stressed about potential scratches and dinks in my current car, imagine me having a 911 then..lol

JAYSLOL

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Re: Car Value Vs Net Worth
« Reply #236 on: January 14, 2024, 02:20:59 AM »

I fancy a 911. Have done for years. Maybe when we cross 10M (but likely not). I still get stressed about potential scratches and dinks in my current car, imagine me having a 911 then..lol

Me too.  But seriously, I literally can’t afford one, you definitely could.  Buy a lightly used but not cosmetically perfect one, especially in white or some other colour that doesn’t show scratches and dings very easily.  Just don’t get a black one.  Also, ceramic coating the paint makes it much more difficult to scratch.  I wouldn’t bother on my old Hyundai, but if I owned a 911, I would definitely want it ceramic coated

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Re: Car Value Vs Net Worth
« Reply #237 on: January 14, 2024, 06:43:46 AM »

Car Blue Book Value ~$4500 - a 2004 Toyota Matrix w/122k miles

Man, I miss 2015. All these legendary mustachian workhorses in the prime of their life available for pennies.   

I'm gonna lose at this. Cars alone, we're around 1.5%-2% depending on how you count. 

But without the tractor, they'd have no access to the public road network this time of year, so in reality probably pushing 5% (that damn tractor holds it's value extremely well right now).   

OK, time to suit up and go blow snow....


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Re: Car Value Vs Net Worth
« Reply #238 on: January 14, 2024, 11:07:39 AM »

Car Blue Book Value ~$4500 - a 2004 Toyota Matrix w/122k miles

Man, I miss 2015. All these legendary mustachian workhorses in the prime of their life available for pennies.   

I'm gonna lose at this. Cars alone, we're around 1.5%-2% depending on how you count. 

But without the tractor, they'd have no access to the public road network this time of year, so in reality probably pushing 5% (that damn tractor holds it's value extremely well right now).   

OK, time to suit up and go blow snow....

Oh wait.. We're supposed to count the tractor? Thats added another 0.2% to my vehicle number!

Taran Wanderer

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Re: Car Value Vs Net Worth
« Reply #239 on: January 14, 2024, 12:24:48 PM »
What about bicycles and kayaks? Do those count, too?

JAYSLOL

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Re: Car Value Vs Net Worth
« Reply #240 on: January 14, 2024, 01:42:48 PM »

Car Blue Book Value ~$4500 - a 2004 Toyota Matrix w/122k miles

Man, I miss 2015. All these legendary mustachian workhorses in the prime of their life available for pennies.   


I miss 2015 for a lot of reasons lol.  Forget cars, I would kill for 2015 home prices and mortgage rates again lol

Arbitrage

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Re: Car Value Vs Net Worth
« Reply #241 on: January 16, 2024, 10:48:07 AM »
What about bicycles and kayaks? Do those count, too?

If they're your main mode of transport, sure!

I didn't count my kayaks or mountain bike since they're used almost exclusively for recreation.  Occasionally I'll take the mountain bike somewhere for transportation/errands, but 95+% of my riding is either on or to the mountain.  I did count my e-bikes since that's what I use to get around the city.

Just Joe

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Re: Car Value Vs Net Worth
« Reply #242 on: February 12, 2024, 02:52:54 PM »
Don't have time to do the math but we're down one old sedan, up one SUV for the teen going to university. Might keep it a year or so more and then will replace it with another higher MPG vehicle. The SUV (20 years old, almost 195K miles) was a great price from a relative and well kept. Just thirsty. Fortunately teen manages to get by on $20 worth of gas per week.

Must_ache

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Re: Car Value Vs Net Worth
« Reply #243 on: February 13, 2024, 07:58:35 AM »
Car Value $21,500
Net Worth $1.83M
Ratio 1.17%

Don't think this statistic is particularly useful.  Whether your net worth is $1,000 or $1,000,000 you need transport.

Turtle

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Re: Car Value Vs Net Worth
« Reply #244 on: February 13, 2024, 08:30:01 AM »
I still have the same car I bought new in 2012, the same year this forum started.  It doesn't even have 100K miles on it yet, thanks to the pandemic and switching to WFH.  Worth about 6 to 7K per KBB.

Inherited car is 2017 and worth more.  20-22K due to the low mileage.  It could very well be my last car or nearly so.

Older car gets borrowed by out of town kids when they visit and is worth more to me as a spare/backup than I would get for it selling it at the moment.  Might sell it after I retire, depending. 

My vehicles are between 1-2% of my total net worth, which seems pretty much in line with MMM members

mm1970

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Re: Car Value Vs Net Worth
« Reply #245 on: February 13, 2024, 04:09:21 PM »
We are at 0.1%.  A coworker asked me last week if it wasn't time to get a new car.  Different coworker asked me today if I was going to buy my DS17 a car.

Um, no and no?  Yes, I have the oldest car in the parking lot today (but my boss drives a car from the late 1990s, so he has me beat).

spartana

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Re: Car Value Vs Net Worth
« Reply #246 on: February 13, 2024, 04:20:54 PM »
What about bicycles and kayaks? Do those count, too?

If they're your main mode of transport, sure!

I didn't count my kayaks or mountain bike since they're used almost exclusively for recreation.  Occasionally I'll take the mountain bike somewhere for transportation/errands, but 95+% of my riding is either on or to the mountain.  I did count my e-bikes since that's what I use to get around the city.
but how do I value my feet lol. Carless for around 4 years and mostly walked and rode a non-electric mtb everywhere. Got a inexpensive used vehicle last Aug and just sold it yesterday and am back to carless living at the moment. Will be travelling overseas much of this year and won't really need a car and this allows my house sitter to park in my one car garage. So percent of NW is zero unless I count the replacement cost of my shoes and extra food I eat ;-)..

footwear

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Re: Car Value Vs Net Worth
« Reply #247 on: February 13, 2024, 04:24:18 PM »
After reading through much of this thread I feel like an absolute loser than me + my wifes cars are worth about 2.5% of our NW...time to get serious about FI!

JAYSLOL

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Re: Car Value Vs Net Worth
« Reply #248 on: February 13, 2024, 05:16:45 PM »
After reading through much of this thread I feel like an absolute loser than me + my wifes cars are worth about 2.5% of our NW...time to get serious about FI!

If it helps, we have you beat, probably close to 5% for ours combined.  Pretty amazing to see people at 0.1% and stuff like that.  Of course like 9 years ago, our one car would have been close to 100% lol, so 5% for several cars is an improvement. 

Arbitrage

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Re: Car Value Vs Net Worth
« Reply #249 on: February 14, 2024, 08:16:49 AM »
What about bicycles and kayaks? Do those count, too?

If they're your main mode of transport, sure!

I didn't count my kayaks or mountain bike since they're used almost exclusively for recreation.  Occasionally I'll take the mountain bike somewhere for transportation/errands, but 95+% of my riding is either on or to the mountain.  I did count my e-bikes since that's what I use to get around the city.
but how do I value my feet lol. Carless for around 4 years and mostly walked and rode a non-electric mtb everywhere. Got a inexpensive used vehicle last Aug and just sold it yesterday and am back to carless living at the moment. Will be travelling overseas much of this year and won't really need a car and this allows my house sitter to park in my one car garage. So percent of NW is zero unless I count the replacement cost of my shoes and extra food I eat ;-)..

No need to value them.  You've leveled up.