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How much of your net worth does your car represent?
Old 11-08-2014, 03:35 PM   #1
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How much of your net worth does your car represent?

Your are what you drive or you are not what you drive?
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Old 11-08-2014, 03:39 PM   #2
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To quote Unclemick: I'm agile, mobile, and hostile. My set of wheels is nothing more than my most efficient means of mobility, and clocks in at an agile 0.43% of my NW.
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Old 11-08-2014, 03:50 PM   #3
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I think my vehicle represents what I am. A person who drives a car that looks brand new on inside and out, but too cheap to pay for one that actually is. I stereotype and I find it very beneficial. After seeing a photo online for an out of state vehicle and researching through carfax, I was able to decipher quickly that an old man owned this and took immaculate care of it. So I flew out to get it and drove it home. It took me way too long to figure out cars detract from my net worth and do not add to it...


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Old 11-08-2014, 03:54 PM   #4
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Originally Posted by Mulligan View Post
I think my vehicle represents what I am. A person who drives a car that looks brand new on inside and out, but too cheap to pay for one that actually is. I stereotype and I find it very beneficial. After seeing a photo online for an out of state vehicle and researching through carfax, I was able to decipher quickly that an old man owned this and took immaculate care of it. So I flew out to get it and drove it home. It took me way too long to figure out cars detract from my net worth and do not add to it...


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My used car was previously owned by a Retired Drug Dealer who drove it only on Sundays to a local church and back.

BTW he was also LBYM type ...from what I was told by car salesman.
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Old 11-08-2014, 04:00 PM   #5
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Well, there's a 12-year-old GMC pickup truck, and new Honda Accord, a 5-year-old Suzuki motorcycle - really too small to measure. We buy new and keep 'em until it doesn't make sense to keep it any longer, usually 12-15 years or so. Given the mileage on the truck that might last as long as I do.
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How much of your net worth does your car represent?
Old 11-08-2014, 04:00 PM   #6
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How much of your net worth does your car represent?

Quote:
Originally Posted by eta2020 View Post
My used car was previously owned by a Retired Drug Dealer who drove it only on Sundays to a local church and back.

Was he very old or was it just a "special" Sunday car? It's amazing how you can stereo type and be correct. While researching the car I seen it was purchased with cash, serviced regularly, and always licensed every year a month before it was due, and then sold after 5 years. That had old and retired written all over it. After I bought it I found a paper that had his signature on it in glovebox, so I googled his name and town he was from and yep, he was 74 years old.


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Old 11-08-2014, 04:03 PM   #7
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My fleet of over 15 yo vehicles, off the cuff, about 0.0001%
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Old 11-08-2014, 04:19 PM   #8
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Your are what you drive or you are not what you drive?
I don't know what that means.
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Old 11-08-2014, 04:26 PM   #9
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Honda CR-V, which seems to be about the #10 best selling car in the USA.

I'm currently driving my third one in a row. Just can't say enough good about them. I get a new one about every 5-6 years, around 150,000 miles for me.
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Old 11-08-2014, 05:47 PM   #10
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Cars are vehicles of depreciation. That's why I always buy Hondas.
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Old 11-08-2014, 05:51 PM   #11
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About 0.7%
And they are not part of my net worth calculation. Fleet currently consists of three minivans, two 2005 Fords and a 2011 Kia.
All bought used. Last new car was in 1989
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Old 11-08-2014, 05:53 PM   #12
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0% - no car. I rent a car when I need it.

If I am what I drive I am thus nothing. Or something different every time.
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Old 11-08-2014, 07:25 PM   #13
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We own three cars for the two of us--two of them quite old. They total about 1.5% of our net worth.
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Old 11-08-2014, 07:25 PM   #14
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Somewhere under .5%
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Old 11-08-2014, 07:32 PM   #15
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Too insignifcant a number to even bother doing the math.
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Old 11-08-2014, 07:37 PM   #16
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Too insignifcant a number to even bother doing the math.
Yep. The 19 year old pickup and 9 year old SUV don't have a lot of resale. But they're reliable and get us from point A to point B.
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Old 11-08-2014, 07:39 PM   #17
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Quote:
Originally Posted by Mulligan View Post
I think my vehicle represents what I am. A person who drives a car that looks brand new on inside and out, but too cheap to pay for one that actually is. I stereotype and I find it very beneficial. After seeing a photo online for an out of state vehicle and researching through carfax, I was able to decipher quickly that an old man owned this and took immaculate care of it. So I flew out to get it and drove it home. It took me way too long to figure out cars detract from my net worth and do not add to it...
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Sometimes the "Midlife Crisis red sports car " justifies the draw on net worth (turn the volume down on this u tube link)
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Old 11-08-2014, 07:39 PM   #18
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Quote:
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Too insignifcant a number to even bother doing the math.
+1, trivial % of NW. But every car makes a statement about the owner, whether it's a Bentley, a beater, or anything in between.
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Old 11-08-2014, 07:42 PM   #19
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Time for the OP to set up a poll ?
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Old 11-08-2014, 07:51 PM   #20
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4 door jeep, 2008. Wife has cayman S, 06.

I'd say the cost was 15% my current savings. Maybe 10% NW.

Both cash.


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