Cars & Motorbikes 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%

    79 vote(s)
    65.3%
  2. 3-5%

    24 vote(s)
    19.8%
  3. 5%+

    10 vote(s)
    8.3%
  4. 10%+

    5 vote(s)
    4.1%
  5. 15%+

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

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

    3 vote(s)
    2.5%
  1. hash_investor

    hash_investor Well-Known Member

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    wanna sell?
     
  2. hash_investor

    hash_investor Well-Known Member

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    Geez, what a waste. Is that just car repayment or car + maintenance?
     
  3. chylld

    chylld Well-Known Member

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    Anyone who maintains their own personal financial statement / balance sheet would be able to calculate this in a blink of an eye. Find car in asset column (or liability column if you want to think that way) and divide by the big number next to "total networth".
     
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  4. DaveM

    DaveM Well-Known Member

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    Why is it a waste? I enjoy nice cars and work very hard, dont take expensive holidays or eat out etc.

    A car to me is vital, and I change it every 3 years so its always newish, in warranty and reliable. Just a business opex cost that allows me to run it inside the business with pre-tax earnings
     
  5. sash

    sash Well-Known Member

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    Yes, I plan on selling it.....
     
  6. hash_investor

    hash_investor Well-Known Member

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    More details please?
     
  7. Xenia

    Xenia Well-Known Member

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    Lol
    Too hard, that's why God invented accountants.
     
  8. Barny

    Barny Well-Known Member

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    I'll do it for you.

    Your lowered VL commodore is worth 18k, diveded by your total net wealth of 7,300,000, X100 and you get...0.24
    So you fall into the 0-2%, which is where most wealthy people are when they conducted similar surveys.
     
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  9. Newyproperty

    Newyproperty Well-Known Member

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    NSW
    Well if you have a net worth of 2 million and you go by the 2% rule you're spending 40k on cars - really not much.

    I am one for keeping my family safe and I like to keep my cars modern and big enough to carry the kids around. So I spend 10%, however not being from Sydney I gather my net worth is not as large as some on here.
     
    hematite likes this.
  10. Timmyd02

    Timmyd02 Active Member

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    I'm not sure what my % is but I spent a fair amount on my work car (4wd) and we use it to get away on the weekends and travel on holidays and enjoy life..... So worth every penny to me
     
  11. Indifference

    Indifference Well-Known Member

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    Wow.... either a lot of voters are retirees (or easily could be) or they drive crazy cheap vehicles.

    As a bit of a horsepower tragic, my % is a tad higher than many here could accept.... 3 cars & 2 bikes.... but I don't own a boat so cost of ownership is pocket change by comparison :)
     
  12. Barny

    Barny Well-Known Member

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    Nothing wrong with a high percentage. I'd prefer 3 cars over investing any day, but I'm at a different stage in life and would like to purchase cars regularly if possible with passive income from investments.
     
  13. Indifference

    Indifference Well-Known Member

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    I'm at the enjoy life stage.... total blasphemy around here, I know. I prefer my semi retired lifestyle.... if I want a new toy I can just work a few months. If not, I can enjoy the ones I already have ;)
     
    Barny likes this.
  14. The Y-man

    The Y-man Moderator Staff Member

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    Crickey you must earn a lot..... don't think I can buy the toys I want (but don't really need) with a few months work.... :(

    The Y-man
     
  15. Indifference

    Indifference Well-Known Member

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    I'm not into boats or exotic cars ;)

    American muscle & thoroughbred Italian sports bikes for me :)
     
  16. Propertunity

    Propertunity Well-Known Member

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  17. mikey7

    mikey7 Well-Known Member

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    I've never really thought of anything as a percentage of networth. I've always looked at it as a percentage of my annual working salary.
     
  18. Barny

    Barny Well-Known Member

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    Blow your mind and try net worth to working salary wage.
     
  19. Timmyd02

    Timmyd02 Active Member

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    Melbourne
    I was going to bring that up also... My cars are always bought and used for the business so I work it out on yearly costs.

    Obviously if someone is earning $500k p/a, then $20k a year is not much especially if its a deduction. But if profit is only $100k p/a then probably not as wise....
     
  20. Whitecat

    Whitecat Well-Known Member

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