Poll:What is your Car Value to Home Value ratio

[Marathoner]

I'm at less than 1%; mostly because my car is a beater. I'll probably have to buy something else in the next few years, but I'm holding off as long as I can!

 

[Miranda]

2010 & 2014 models: 5.5% of home value. I am envious of those living where public transportation is robust enough to make a car unecessary.

Sent from my SPH-L720 using Early Retirement Forum mobile app

 

[splitwdw]

Glad to see there's a car guy here. I wasn't sure if I posted I would skew the poll. We own 6 antique/collectible cars and 2 trucks. Vehicles worth 385,000. and smallish house with big garage worth 425,000.

 

[Meadbh]

I voted 1%-5%. But after I retire, move north to an area with lower housing prices, and buy my new car, my ratio will be more like 20%.

But W2R, didn't you buy a gorgeous new Toyota Venza after you retired just a few years ago? Didn't you say it might be your last car? I reckon you should be able to get many more years out of the Venza as I know you don't do much long distance driving with it.

 

[W2R]

But W2R, didn't you buy a gorgeous new Toyota Venza after you retired just a few years ago? Didn't you say it might be your last car? I reckon you should be able to get many more years out of the Venza as I know you don't do much long distance driving with it.

But Meadbh, did you notice that my post that you quoted, was from 3/23/2009? I didn't retire until later that year, and I didn't buy my Venza until 2010.

You're right - - I only have 15,000 miles on it even though I drive it almost every day. I just don't drive very far, I guess!

The present value of my Venza is about 10%-11% of the value of my home. It has gone down in value quite a lot since 2010, and my home isn't worth much either.

 

[Meadbh]

But Meadbh, did you notice that my post that you quoted, was from 3/23/2009? I didn't retire until later that year, and I didn't buy my Venza until 2010.

You're right - - I only have 15,000 miles on it even though I drive it almost every day. I just don't drive very far, I guess!

The present value of my Venza is about 10%-11% of the value of my home. It has gone down in value quite a lot since 2010, and my home isn't worth much either.

Oops, I completely missed the date on your old post. I assumed this was a recent thread. Now it all makes sense!

I calculated about 15% based on what I paid for the car in 2012 and the home in 2010. Both gave decreased in value so anything else is a guess.

 

[NW-Bound]

Looking through the thread, I saw that I participated with a post. Way back then, we had just 2 cars, but have since added an RV and a toad, both bought used.

These recent vehicles and the other old cars that I still have do not even add up to the Audi that my son bought, so I won't bother to estimate their values relative to my 2 homes.

 

[W2R]

Oops, I completely missed the date on your old post. I assumed this was a recent thread. Now it all makes sense!

I just noticed that it was posted 3/23/09, and today is 3/23/14. No wonder it was confusing! What a coincidence.

 

[NYEXPAT]

No need for a car as I can walk everywhere, public transit is good and a Big Mac can be delivered in 15 minutes.

 

[REWahoo]

I just noticed that it was posted 3/23/09, and today is 3/23/14. No wonder it was confusing! What a coincidence.

Yes, someone just bought an expensive new car and wanted to tell us about it...

 

[W2R]

Yes, someone just bought an expensive new car and wanted to tell is about it...

Huh? I was driving a 9 year old car on 3/23/09 when I posted that, and I am driving a 4 year old car now. If either of those qualifies as "new" to you, you need to take your DW out car shopping!

 

[38Chevy454]

I was not around when this thread started, but since I do old cars as hobby and have a lot of cars and trucks, my ratio is around 50%.

 

[REWahoo]

Huh? I was driving a 9 year old car on 3/23/09 when I posted that, and I am driving a 4 year old car now. If either of those qualifies as "new" to you, you need to take your DW out car shopping!

Uh...I was talking about the post below, resurrecting the thread from the dead and the source of the confusion...

Just got my new car today. About 7% of the value of the house.

 

[W2R]

Uh...I was talking about the post below, resurrecting the thread from the dead and the source of the confusion...

Oh, right!! I get it now.

I think that is terrific that somebody got a cool new car. It was a bit confusing, though, wasn't it!

 

[scrinch]

As expats we only have an old minivan we use during our semi-annual US visits. Value: $3000. But we still have two houses in the US...value:$900k. Overseas we don't own anything. So ratio <1%.

 

[daylatedollarshort]

I thought we were being rather frugal on our car purchases but I see I still have much to learn from the frugal masters that post here. Lower car values would lower our registration and insurance costs, too, so I'll have to keep that in mind on our next budget review.

 

[SJ1_]

Anyone care to post your car(s) value / home value.

Mine is ~3.7% which I think is pretty low thanks to my junker I bought an old Mazda Miata 3 years ago which was a great financial decision. The thing is a blast to drive, has held up well and kept it's residual value. My commute is only 2 miles so it's tough to justify a new car.

I wonder what the average ratio is on these forums. Who has the lowest?

Car $1800
House $450,000

.4 of a percent

 

[foxfirev5]

Two 10 year old cars - less than 2%

 

[haha]

I don't have a car now; but if or when I do again have one, I will not be joining the race to the bottom with cheap. If you are in meaningful wreck, as I have been, a newer car with new design and safety features might save your life or a loved one's life.

Of course if you spend a lot of time on motorcycles or bicycles in traffic likely you will not improve much by driving newer, larger, safer cars, as being taken out at an intersection on your bike or bicycle would pretty much cancel whatever safety advantage you get from driving a Mercedes automobile.

Ha

 

[FIREd]

Cars, about $10K combined.
Home, $240K.
Ratio: 4.2%

My my, things have changed quite a bit since 2009!

Our 2 older vehicles were replaced by brand new ones in 2010 (current value $25K combined). And we became renters in 2012 and currently own no real estate for personal use.

 

[ChiliPepr]

I voted 1-5% since my car is worth about $20 and my house is around $600k...

I would have to go to 5-10% if the vote was for vehicles, since I just brought home a new 2014 Harley Davidson Street Glide Special last Friday.

 

[foxfirev5]

Two 10 year old cars - less than 2%

My DW reminds me that will change when I lose my $40k company vehicle. Another reason to postpone ER.

 

[Amethyst]

There's no option for "0 to 1%"?

Our car is worth approximately 1/375th of our estimated home value. Of course we may well be inflating the value of our home, as owners tend to do. It might be only 1/300th.

Amethyst

 

[chris66]

We have a much higher ratio of cars to house right now, but this is just timing. In 1999, we traded a pickup for our Fit on a Cash for Clunkers deal. Last year, before the layoffs, we had an urban home that sold for 425K and a rural home in another state worth about 200K, and the Fit and an old Vibe - so before the move, we were probably about 1 or 2 percent (the Vibe had been rode hard). Last year, we sold our urban home, but bought a new truck for hauling building and gardening supplies, and so we'd have 4WD. So, we're probably at 16%! But, since we generally have a pretty low ratio...I guess I'll have to keep improving this house and get that back down to single digits

 

[accountingsucks]

My ratio is 0.007%. Approx 3k car on house value of 380k.