What is your Car/s value / Home value ratio?
- Thread starter Gunk
- Start date
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Chromatic
Legendary Member
- Location
- Gloucestershire
I reckon mine is between 0 and 1%.
- Location
- The TerrorVortex
Well under 1% for me. Car cost £5000 over two years ago, it's a Pug 308 sw hdi, 15 reg. My bike fleet is probably worth more.
No idea what the house is worth, but since it's due to be sold and the money split three ways, I'm hoping for as much as possible.
No idea what the house is worth, but since it's due to be sold and the money split three ways, I'm hoping for as much as possible.
Salad Dodger
Legendary Member
- Location
- Kent Coast
About 3.7% of house value. But only that high because we traded in our old car for something newer and a little more comfortable earlier this year.
Before that it would have been down in the 1% region......
Before that it would have been down in the 1% region......
- Location
- Somewhere wet & hilly in NW England.
This is a strange metric to consider.
roubaixtuesday
self serving virtue signaller
Why? Shows the relative value people put on cars vs homes.
FWIW the Tuesday household is in the very privileged position of owning one house and two cars outright. The house, bought ~25 years ago is worth something well north of £500k now. The cars are both over 10 years old, a Skoda Citigo and a Galaxy. I would guess their combined value is below £2k, as they're both tatty and feature moss growing in various places. Having worthless cars is great, removes all stress and most cost from ownership.
So for the quiz, we're below 1-5% but not quite at zero.
The Galaxy is only really kept as long distance bike transport, and the value of bikes on top definitely exceeds the value of the car, making us rule 25 compliant.
- Location
- Somewhere wet & hilly in NW England.
But relative value calculations are just a product of the value of items that are being compared.
Intrinsic value is, of course, different and probably a more interesting question.
Our car is worth around 3.5% of our house value. That does not reflect, in any way, the value we put on the vehicle vs what we put on our home value.
3.5% is simply a product of the price of the car vs our house value.
roubaixtuesday
self serving virtue signaller
It's not an infallible guide, but surely how much you spend on something gives some indication of the relative importance to you.
If you cared more about the type of car you had, you'd spend more on it, no? Or am I missing something?
BoldonLad
Not part of the Elite
- Location
- South Tyneside
Isn’t it distorted anyway. A given car costs pretty much the same to buy, in (say) South Tyneside as it does in (say) Chelsea, the same is not true of a house.
CanucksTraveller
Macho Business Donkey Wrestler
- Location
- Hertfordshire
About 2 to 3 percent, and yes I think it's a useful (if rough and a bit unscientific) guide of how much you put value in cars... My car is a 5 year old Skoda that's probably now worth only about 8k. My house is a 1952 ex-council house but extended and modernised, and being in Hertfordshire on the commuter belt, it is worth a lot. I value the tiles over my head far more than what car is on the drive, my home makes me feel happy. Cars are niether here nor there for me.
That’s why my late Fathers advice was so sensible, buy a house you can’t afford and buy a car you can afford to throw away.
I didn’t take any notice, here is my 911 outside our two bed terrace 20 years ago!
Have you still got the car?
Sadly not
