Poll:What is your Car Value to Home Value ratio

[W2R]

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%.

 

[FIREd]

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

 

[TromboneAl]

We slip through the cracks in the poll: .88%

 

[Westernskies]

Mine works out to .92%- (it used to be lower, but my house lost value...)
How do I vote?

...maybe I should get a bumper sticker for my old truck? -

"MY HOUSE IS A PIECE OF SH*T, TOO!"

 

[Lakedog]

Around 2.5% -- 2007 Honda Element and house approx $575k to $600k -- should soon find out what the house is worth since I plan to put it on the market in a couple of weeks.

 

[FUEGO]

Somewhere around 3% to 6% depending if it is one car or both DW's and my car. Both are 9 year old good condition single owner low mileage hondas (civic and accord). I figure the cars might fetch $4000-5000. House = maybe $150-170k.

But this ratio could change drastically if we buy new cars, which we may do in a few years.

 

[youbet]

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%.

In the spring, I fish in an area (a little south of where you'll be) where housing is very inexpensive and fancy pickup trucks and bass boats are high priorities. Picture a new decked-out pickup and $30k bass boat parked in front of a single-wide in a rural location. I'd assume:

1. veh + boat / house ratio > 1.

2. Folks with their priorities straight!

Of course, you have to like fishing to feel that way!

 

[freebird5825]

House $180K maybe. House next door of same age (but nowhere near the attention to maintenance) sold for $145K approx 1 year ago.
3 sets of wheels - 1992 Accord, 2002 Jeep GC, 2005 Mustang. All combined maybe $30K. Welcome to the Rust Belt.

 

[Darryl]

About 9% and feeling a little embarassed right now for letting it get that high.

 

[ziggy29]

About 9% and feeling a little embarassed right now for letting it get that high.

I'm not sure why that's embarrassing unless we're making it a competition to "out-cheap" each other -- who ever owns the cheapest beater of a car wins?

Besides, having a low percentage doesn't necessarily mean you're living in austerity -- it could mean you have way too much house, creating an abnormally large denominator.

And is there *really* no one over 31%, or is no one willing to admit it for fear of losing their credentials as a [-]cheap bastid[/-] strong-saving LBYMer...?

 

[Caoineag]

.9%, fall through the cracks of the poll. 137k paid for house, paid $1250 for the car.

 

[nnkrealtor]

2.35%

 

[CuppaJoe]

Sure I can vote, but not do the ratio thingy

At last, the true advantage to renting, less math.

 

[Notmuchlonger]

Well if you own several homes across the country. Plus renting. Too early for this poll.

 

[Bikerdude]

Pontiac sedan, Chevy pickup and three motorcycles = 7.89%.

 

[Koolau]

Three cars w/total Edmonds (seller) value 9K
House estimated 425K
'bout 2.1%

I learned something about depreciation during this 'episode'. Buy a Honda.

 

[Nords]

I'm not sure why that's embarrassing unless we're making it a competition to "out-cheap" each other -- who ever owns the cheapest beater of a car wins?
... or is no one willing to admit it for fear of losing their credentials as a [-]cheap bastid[/-] strong-saving LBYMer...?

I'd never enter a "cheap" contest against this board's posters. Some of you guys make Amy Dacyczyn and even Jeff Yeager look like wild-eyed hard-partyin' carefree spendthrifts...

 

[Mickey]

Okay, I was the one to put the >31% vote in there - 'cause I took purchase price of [new] car versus purchase price of house (had car before house).

If I get a do-over - to use current values based on Zillow and Edmund - then I would be at 16.7%.

Said poll is now releasable to whomever you wish to use as a perfect lesson, boys and girls, in how depreciation of new vehicles actually works!

Marilyn

[Wanders off, thinking "Don't care! Wanted the car, got the car, keeping the car! It's paid for! So there!..."]

 

[haha]

.66 and 2.33. What does it mean?

It means we are bored.

 

[Westernskies]

It means we are bored.

 

[FUEGO]

Interesting note: I dug through the 2007 Survey of Consumer Finances here:

http://www.federalreserve.gov/pubs/oss/oss2/2007/bulletin.tables.int.xls

Looking at "Table 9 07", it shows the median value of vehicles and primary residences for different groups in the US. For those owning a primary residence, their vehicles were worth $18,400 and their houses were worth $200,000 in the year 2007 in 2007 dollars. This works out to a vehicle to house ratio of 9%.

Interesting to note that for households with above median net worths, the ratio decreases as the net worth increases. The wealthy spend more money on houses than they do on cars? The thought being that houses appreciate, and cars depreciate, so wealth building tendencies lead the wealthy to spend more on appreciating assets than depreciating assets (just my theory).

As of now, this poll looks like our median ratio is right around 5%, making us look like some high net worth individuals, indeed.

 

[FinallyRetired]

About 1% or less. I've never been a car guy. I figure anything above and beyond something to get you from point A to point B without breaking down is a waste of money. I buy used cars and run them into the ground.

 

[Khan]

I'd never enter a "cheap" contest against this board's posters. Some of you guys make Amy Dacyczyn and even Jeff Yeager look like wild-eyed hard-partyin' carefree spendthrifts...

Wise decision.

Car ~$5000
House ~$75000
1/15
~6 %

2 years ago, car ~$800
bit more than 1%

 

[FUEGO]

I'm still waiting for the post that says "Car = $400, house = car, so 100%".

 

[Nords]

I'm still waiting for the post that says "Car = $400, house = car, so 100%".

Yeah, but JG is banned and UncleMick had to find a new home, so the field is wide open on that contest...

Back in the 1980s I had a shipmate who owned a beater car and camped in a tent for $1.50/night. His ratio would probably be well over 1000%...