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Cars-what percentage of your net worth?

Discussion in 'Living Room' started by Barny, 29th Jun, 2016.

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Cars-what percentage of your net worth?

  1. 0-2%

    54 vote(s)
    62.8%
  2. 3-5%

    16 vote(s)
    18.6%
  3. 5%+

    9 vote(s)
    10.5%
  4. 10%+

    5 vote(s)
    5.8%
  5. 15%+

    0 vote(s)
    0.0%
  6. 20%+

    0 vote(s)
    0.0%
  7. 30%+

    2 vote(s)
    2.3%
  1. Barny

    Barny Well-Known Member

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    Melbourne
    Looking at buying another car very soon, I've read the wealthy spend on average of 2% of their net worth.
    Curious what others spend in % to their net worth?
     
  2. EN710

    EN710 Well-Known Member

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    Location:
    NSW
    A 2% networth of a minus balance is... :(
    Well, it will be at my 5% as there is not many reliable car under $10K...
     
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  3. Player

    Player Well-Known Member

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    Paradiso
    Currently both our cars combined are around 0.5 % of net worth. I will be treating my self to at least one (souped) V8 in my life and that is likely to be the next vehicle, so the percentage may rise slightly. It would never crack 2 % though.
     
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  4. chylld

    chylld Well-Known Member

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    Location:
    Sydney
    Voted 5-10% but as a percentage of total net cashflow/growth, not simply networth. A $300k McLaren that will hold value for a couple of years has a lower total cost of ownership than a $200k Jaguar that will be worth $130k in a couple of years, even after factoring in insurance, running costs, opportunity cost etc.

    This beauty is currently on a boat, due to be in my garage in about a month :)

    [​IMG]

    Maybe a bad time to buy a car from the UK lol but then again, I've only seen 2 types of car enthusiasts: those who set themselves goals and plan to buy their dream car in x years, and those who actually buy them.
     
  5. Barny

    Barny Well-Known Member

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    Congrats, good timing lol.
     
    chylld likes this.
  6. Ace in the Hole

    Ace in the Hole Well-Known Member Premium Member

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    Sydney
    Our cars are about 0.5% too.
     
  7. inspiredbyprop

    inspiredbyprop Well-Known Member

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    19th Jun, 2015
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    159
    Location:
    Sydney
    Wow at the results!

    Either:
    1. Members in this forum have high net worth or
    2. Super tight ass in the car department

    I suspect I have already known the answer.
    PS: I will share my recent car buying experience in other thread.
     
    MsAli likes this.
  8. Barny

    Barny Well-Known Member

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    Melbourne
    Your welcome to share the new car, congrats.
    And what are your thoughts. Members have high net worth or super tight ass?
     
  9. lewy89

    lewy89 Well-Known Member

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    Location:
    Brisbane
    I sold my car last year and SS a new one out so technically dont own one. But it would never be above 2%. Could never justify buying a brand new car outright
     
    Bayview likes this.
  10. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    2,458
    Location:
    Sydney & Gold Coast
    About 0.5%.
     
  11. Bran

    Bran Well-Known Member

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    At work
    It just went up to 1% with my newest purchase.

    I'm a tightass.
     
    Barny likes this.
  12. bashworth

    bashworth Well-Known Member

    Joined:
    18th Jun, 2015
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    107
    Location:
    Footscray
    Just bought a brand new car and its around 1.5%.

    Plan on keeping it around 10 years by which time it will be about 0.15%
     
  13. chylld

    chylld Well-Known Member

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    Sydney
    More importantly, many members on this forum can tell you their networth almost immediately because they're in control of their financial situations and understand their assets and cashflows.

    Being a car tightass depends on whether or not owning an expensive car is one of their life goals :)
     
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  14. Ed Barton

    Ed Barton Well-Known Member

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    I want one of the these
     
  15. Barny

    Barny Well-Known Member

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    Bedding furniture outlet?
     
    House likes this.
  16. gman65

    gman65 Well-Known Member

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    23rd Jun, 2015
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    268
    Location:
    Brisbane
    0.75% - wow what a waste
     
  17. spludgey

    spludgey Well-Known Member

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    18th Jun, 2015
    Posts:
    694
    Location:
    Sydney
    Our current cars are under 1%, however we're planning on buying a new used car which will lift this to around 1.5%.

    I tossed up a little as others haven't revealed networths and car values, but here we go:

    Networth: $1.1M (me and the wife combined, super excluded)
    Car value: $2000 and $5000
     
    Last edited: 29th Jun, 2016
    Barny likes this.
  18. Barny

    Barny Well-Known Member

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    Melbourne
    Our cars combined are at 3%.
    Wifey has the better car at 2%...not for long
     
  19. Ed Barton

    Ed Barton Well-Known Member

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    Brisbane
  20. Barny

    Barny Well-Known Member

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