Reply to: Car to house value ratios

[wendigo100]

Yup.

It's on its last legs though 211,400 odd... barely run in, but the engine has developed a habit of going out while taking low speed corners... and the complete lack of accellaration from standstill is getting a bit dicey...

I've got a rover on its last legs with 190K. The engine is still sweet as a nut, one of the old Honda jobs, but the bodywork is flaking off...

I'm not a very good contractor running one of those am I.

[Xenophon]

Yup.

It's on its last legs though 211,400 odd... barely run in, but the engine has developed a habit of going out while taking low speed corners... and the complete lack of accellaration from standstill is getting a bit dicey...

I reckon you should try to get it to 250k!

[minsky1]

6% and 6%....... I think its a bit high because my daily driver is a 911.

[wendigo100]

Me, I just made those figures up...lolol

I did wonder - assuming you've got a house of 300,000 your car would be worth £30.

We had a cricket teammate last season who literally lived in his car, some old banger with two suitcases in the back seat. So I guess he'd come out at 100%. Harrow education, Durham University, and all he does is swan around the country playing cricket.

[andy]

the first one is 0/0%
no car no house

[Bagpuss]

The first one is 8% or 0.2% depending on which car I am driving.

[angusglover]

Scottish parsimony?

For me it's 0.125% for the first one, but I can't be arsed to work out what savings I've got, what with all my cash being in the mortgage account, funds, and all that baloney.

Me, I just made those figures up...lolol

[wendigo100]

0.001% and 0.00034%

Scottish parsimony?

For me it's 0.125% for the first one, but I can't be arsed to work out what savings I've got, what with all my cash being in the mortgage account, funds, and all that baloney.

[thunderlizard]

I've got neither so we'd be back on discussing the value of 0/0 again.

[Bagpuss]

The value of my car doubles when I fill it up with petrol...

I though you'd be running it on chip fat

[Xenophon]

The value of my car doubles when I fill it up with petrol...

Still running that Volvo, ZG?

[Bagpuss]

came up with the car to house value ratio, and we could also add the car to liquid assets ratio. The optimium % is as low as possible, with a car value of 5% of house value being a sensible maximum.
But I should think there is quite a difference in the averages between north and south.

Surely this is a contest to see who has the cheapest car, obviously the winner will be someone without a car, or someone running an old banger. So the winner will be a tight b@stard.

[angusglover]

0.001% and 0.00034%

[Bagpuss]

I was thinking of a financial p1ssing contest for today where you don't actually reveal how much you earn or how expensive your house is.

I came up with the car to house value ratio, and we could also add the car to liquid assets ratio. The optimium % is as low as possible, with a car value of 5% of house value being a sensible maximum.
But I should think there is quite a difference in the averages between north and south.

As for the car to liquid assets ratio, I would guess due to the uncertain nature of contracting we are much more likely to have savings as multiples of car values, rather than the other way around like permies trying to keep up with the Jones while concealing ever increasing levels of unsecured debt.
As a sensible target I guess your car value could be at most 30% of the value of your liquid assets. For some it maybe 3%, then again for other people could be over 100% if they have finance and no savings.

This idea was brought on by seeing a Lambo outside a really scabby terraced house and wondering what they were thinking.

Then again, maybe you live in a million pound mansion and ride a bike.

Don't forget house prices are silly now, a scabby terrace house (or cottage as it's called in the sarf, in the north a cottage is in the countryside) is worth as much if not more than a supercar, this was never the case until recent history which shows how over valued houses are.

[sasguru]

Then again, maybe you live in a million pound mansion and ride a bike.