What is your Car/s value / Home value ratio?

[presta]

Not sure that the results will be meaningful:

1. I live in a “cheap” property region, so, 4 bed detached house, but, only worth about £325k, my son owns a similar house west of London, £800k

2. Depends on timing, a few months ago, I ran 7 year old car, worth about £6500, then, upgraded to new Yaris £25k, but, of course, it will not be worth that now

3. Some cars in the photo you referred to may be “company cars”

4. Some (many even?) in the photo may not be owned, but on PCP type terms at £x / month

5. House prices are rising faster than cars.
6. House values go up with age, car values go down.

 

[Alex321]

My group is missing from the quiz: own a house but only hire cars.

This is really a comment on how poor the provision of public transport is in most places. If you only need a car for a month or two every year, this is the best solution.

No, you are in the top group - no car.

 

[glasgowcyclist]

About 1% for me and set to drop as we’re looking to move to a detached bungalow which will cost around 50% more than the one we’re in is worth.

 

[Gunk]

5. House prices are rising faster than cars.
6. House values go up with age, car values go down.

Its more than that, I agree that house price inflation has made a difference, but back in the mid 1990’s I had over £65,000 worth of cars on the drive, these days our total fleet would struggle to be worth around £12,000, it’s just not a priority having fancy cars, plus back in the ‘90’s cars were just so much better and much more special, we had a Company 328i touring, my wife had her own Golf VR6 and we also had a 1977 911 Carrera 3, all brilliant cars, nothing these days gets me excited enough to put my hand in my pocket, that’s why I’ve diverted my passion towards motorbikes.

The photo below was taken about 30 years ago.

 

[presta]

nothing these days gets me excited enough to put my hand in my pocket

Tell me about it. I haven't driven for 20 years, but if I was looking for something now I'd despair, SUVs and crash test protection have made everything on the road just downright ugly.

 

[bonzobanana]

Chevrolet Cruze bought new for £7-8k about 11 years ago and worth about £2-3k now perhaps possibly less. House worth £180-200k I think although not checked.

 

[Drago]

My car was a few pence under 40k, but a couple of years on is probably worth, I dunno, 17k.

Mrs D's car was 36k on a lease, probably worth about 25 now.

House worth 450 large, and it's not a castle with a moat or anything fancy.

So around 8%, give ot take a groat, if you include Mrs D's, about 3-4% if you only count the one we own.

 

[johnblack]

Depends on the month, I go through a lot of cars, as does my wife, it's part of my job and I'd have no clue what my house is worth, I don't even really have anything to compare it to, but none of that matters any way, it's a ratio that is pretty meaningless.

 

[SpokeyDokey]

This. The vast majority of "new" cars are leased or PCP. They're not owned outright and give the impression their 'owner' has more money than they really do.

That's not always the case, but I admit it exists as a cliche.

We have friends with an awful lot more money than us (and we are pretty well off) that utilise PCP's.

We have our first ever PCP on our current car, the interest rate payable is less than we earn on our investments, ergo makes financial sense.

And not everyone max's out on PCP's for show either. Our little VW T.Cross cost £27k. This is a long, long way inside what we could afford to buy outright in cash. We have friends in similar situations.

 

[Drago]

When I bought the Mini the salesman couldn't get his head around the idea that someone didn't want to rent a car and change it every 17 minutes.

Apparently people who "buy", in my case with intent to keep it until one of us drops, are so unusual he had to ask a load of questions to check I wasn't a money launderer. Strange, because I could think of slower depreciating things to buy if I were.

Mrs D's is a lease, but so inexpensive and "all-in" we'd be daft not too, much asmit goes against the grain for me.

I own the Volvo, but that's worth 3 and sixpence these days.

 

[Chris S]

Infinity. I don't have a car.

 

[Drago]

Infinity. I don't have a car.

Sensible chap.

 

[icowden]

Got my maths wrong (chose the 30-100 category) House is about 800k at the moment and car is £50k but on a lease. I think that makes it a 16% ?
Sadly I'm in Surrey so it's not the luxury mansion you are thinking it is...

 

[Dave7]

Like others I live in a low value area. House is unique in the area as I have a full granny flat built on.
So, at estimate I would say my 65 plate Astra is about 2% of the house.

 

[stephec]

I've had company cars for the last 25 years so usually over 10%, and though I don't actually own them I have paid somewhere over £20000 in tax as they're available to me for private use.

The last car to have my name on the V5 was a 1.6 Laser Capri, sold for £500, then worth £5000 a few years later.