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-   -   How much of your net worth does your car represent? (http://www.early-retirement.org/forums/f28/how-much-of-your-net-worth-does-your-car-represent-74374.html)

eta2020 11-08-2014 02:35 PM

How much of your net worth does your car represent?
 
Your are what you drive or you are not what you drive?

MooreBonds 11-08-2014 02:39 PM

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.

Mulligan 11-08-2014 02:50 PM

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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eta2020 11-08-2014 02:54 PM

Quote:

Originally Posted by Mulligan (Post 1514672)
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.

Walt34 11-08-2014 03:00 PM

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.

Mulligan 11-08-2014 03:00 PM

How much of your net worth does your car represent?
 
Quote:

Originally Posted by eta2020 (Post 1514675)
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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ls99 11-08-2014 03:03 PM

My fleet of over 15 yo vehicles, off the cuff, about 0.0001%

RonBoyd 11-08-2014 03:19 PM

Quote:

Originally Posted by eta2020 (Post 1514664)
Your are what you drive or you are not what you drive?

I don't know what that means.

braumeister 11-08-2014 03:26 PM

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.

ReadySkiDaddy 11-08-2014 04:47 PM

Cars are vehicles of depreciation. That's why I always buy Hondas.

RE2Boys 11-08-2014 04:51 PM

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

Totoro 11-08-2014 04:53 PM

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.

samclem 11-08-2014 06:25 PM

We own three cars for the two of us--two of them quite old. They total about 1.5% of our net worth.

FANOFJESUS 11-08-2014 06:25 PM

Somewhere under .5%

Sea Kayaker 11-08-2014 06:32 PM

Too insignifcant a number to even bother doing the math.

rodi 11-08-2014 06:37 PM

Quote:

Originally Posted by Sea Kayaker (Post 1514794)
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.

Lakewood90712 11-08-2014 06:39 PM

Quote:

Originally Posted by Mulligan (Post 1514672)
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) https://www.youtube.com/watch?v=hOzbWtJLuLo

Midpack 11-08-2014 06:39 PM

Quote:

Originally Posted by Sea Kayaker (Post 1514794)
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.

Lakewood90712 11-08-2014 06:42 PM

Time for the OP to set up a poll ?

dallas27 11-08-2014 06:51 PM

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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