kyounge1956
Thinks s/he gets paid by the post
- Joined
- Sep 11, 2008
- Messages
- 2,171
Well, if you had asked me this three years ago, I could have said the ratio was darn close to zero, but I still had a driveable car. At the time my 1980 Toyota Tercel was still running, but when it died, I refinanced my house and took cash out for a new car. At the time of the refinance, the house was appraised for $303K. I donated the old car to charity, and according to the receipt I got to fill out my taxes the next year, they got $100 for it, I assume as scrap metal. So, for the few months it took my new car to get to the dealership, the ratio was $100/$303,000, which is 0.033%. Even if the car before it died was worth several times as much, I'd still have had a ratio of under 1% with a driveable car.
At this point, I have a going-on-three-year-old car, which is worth much more than my decrepit old Tercel was, and the probable sale price of the house has declined quite a bit, so today my car/house ratio is probably somewhere around 8%.
At this point, I have a going-on-three-year-old car, which is worth much more than my decrepit old Tercel was, and the probable sale price of the house has declined quite a bit, so today my car/house ratio is probably somewhere around 8%.