Cars. They serve a simple purpose, to get one from Point A to Point B. While their purpose is pretty straightforward, the bells and whistles that come with them are anything but. From heated seats to cars that parallel park themselves, features don’t come cheap.
What’s more, cars are also the most expensive depreciating asset most of us will ever own. So today, I thought we’d take a look under the hood and see how dirty PDITF readers are riding…
The rules are simple, total up the value of whatever cars you own (if you were to sell them today) and share that value below. It would obviously be helpful if you also shared the year, make, and model.
Car 1: 2007 Scion tC, 59k miles, $9,500. Owe: $0
Car 2: 2006 Honda Pilot, 85k miles, $14,800. Owe: $0
Total Vehicle Assets: $24,300
For those of you that lease, just pretend you owned the car.
Car #1: 1998 BMW M3, 231K miles, $6K. Owe $0 (Bought for 2.6K 🙂 )
Car #2: 1999 Mercedes ML320, 108K miles, $5K. Owe $0
Total Vehicle Assets: 11K
Car 1 – 2007 Corolla S, 35k miles, $11k, Owe $0
Car 2 – 2000 Sienna XLE, 215k miles, $4k, Owe $0
Total Vehicle Assets: $15k
Car 1 – 2003 Ford Focus, 140,000 miles, $1200, owe $0
Car 2 – 1997 Ford Ranger, 150,000 miles, $1500, owe $0
Total vehicle assets -$2700
We will drive them until they die!
2007 Honda Accord 86k miles, $9k Owe $0
1999 Ford F-250 7.3 diesel valued at $9000 I bought it used and paid it off more than five years ago. My truck has about the same mileage as most trucks half its age. I also have an older model horse trailer that I paid cash for.
Total vehicle assets: $13700
2004 Honda Civic bought used for $2300 fully paid off but it’s been in an accident since we bought it and I doubt we could even get $500 for it.
Car 1: 2007 Toyota Tacoma 96K $15,000, Owe $0
Car 2: 2004 Volkswagen Jetta 114K $3,000, Owe $0
Total Vehicle Asset: $18,000
Car: 2010 Toyota Camry, 50.5K, estimated BlueBook $12k, owe $3K, plan to keep another 5 years.
Total vehicle asset: $9K
2013 Smart Car 2k $10,685 owe 10k(0% interest so not paying off)
2014 Nissan Pathfinder 3k $39,220 owe 0
2008 Tuscon 62k $13,968 owe 0
Car 1: 2009 Subaru Impreza 93K $9,000, Owe $0
Car 2: 2012 Nissan Altima 35K $15,000, Owe $11,750
Total vehicle asset: ~ $12,000
Seriously considering Elio Motors for next vehicle if they make it to production. 3 wheeled commuter “car”, low purchase price, high MPG.
Car 1: 2006 Scion xA 92k $5,000, owe $0
Car 2: 2005 Pontiac Aztek 104k $4,500, owe $0
We’ll drive them ’til they drop, but with the mileage getting up there, we know it’s coming…
Any car should last 200K these days.
Car 1: 1994 Volvo 850, 160k, $2,700, Owe $0
Car 2: 2008 Ford Fusion, 85k, $9,800, Owe $0
2006 Saab 9-3 w/ 107k miles; paid $11,000 and owe $0.
2013 Chevy Traverse; $1700 down and $200/month for a 15,000 mi/yr lease for the next year and a half.
2005 Toyota Matrix w/ 140k miles – paid $10,000 but worth $6,000 now, and owe $0
1998 Toyota Camry with @30k miles – paid $3,000 but worth $2,800 now, and owe $0
Total Vehicle Assets: $8,800 (on paper)
However…I’d argue in cost savings they’re worth WAY more because their mileage is so high insuring them costs very little, and because they’re Toyotas they run forever on little maintenance.
2010 VW Routan w/ 30k miles; worth $17,000 and owe $0
2012 MINI Cooper S w/ 17k miles; worth ~$18,000 and owe $8,000
2000 Honda Civic, 126k miles, $2,500
2009 Chevy Malibu, 72k miles, KBB est of $9200 and owe $0. The goal is to get at least 150k miles, preferably 200k. I love not having a car payment.
1998 Honda Civic, 160k miles, $2,500, owe $0
Zip Car Membership: $60/year
Total Vehicle Assets: $0
Car #1 – 2007 Toyota Yaris, 96k miles, $6,000, owe $0
Car #2 – 1994 Honda Accord, 110k miles, was $2000 according to the insurance company from a recent accident but probably less now, owe $0
Car #3 – 2006 Dodge Caravan, 160k miles, $1000 or so, owe $0
Total vehicle assets – Less than $9,000. My fiance and I plan to drive them all into the ground, particularly the Toyota and Honda. I don’t like the idea of ever having a car payment (we’ve always paid in full).
2010 Nissan Note, 60K miles, USD 10,000 (in this country), owe 0
Plan to drive until the end of 2018 if not more. Never buy cars with a loan. Always pay cash.
2011 Chevy Cruze, 31k miles, $13,152, owe $0
2003 Ford F350 Diesel, 85,000 miles $15K, 2012 Honda Civic 12,000 miles $14K, total $29K.
I always buy new, and run them until they die. The truck was a $1100 payment for three years, 0% interest. The car, $275 a month, 0.9% interest.
Leasing never gets you a cheap ride, you always make payments.
Car 1:2009 GMC Sierra Denali, 30,000 miles, value ~$39,000, owe 0.00
Car 2: 2008 Buick Lucerne, 80,000 miles, value $8,000, owe 0.00
Car 3: 2004 Chevy Trailblazer, 130,000 miles, value $4,500, owe 0.00
Total vehicle assets: 51,500.00
Car 1: 2007 Honda Element SC, 98,400 miles; KBB.com value $11,270; owe $0.
Car 2: 2010 Toyota Corolla, 67,500 miles; KBB.com value $10,630; owe $0.
Total vehicle assets: $21,900
We’ll need new tires on both of our cars soon (eek!). We’re planning on driving them until they fall apart. My dad still drives a 1992 GMC Suburban with over 300,000 miles- he jokes that its value fluctuates with the amount of gas that’s in the car.
Car 1: 2005 GMC 2500HD CC Truck, 115K value: $22K, owe $0 (my toy hauler)
Car 2: 2002 Chevy Trailblazer, 180K value: $3K owe $0 (wife’s car)
Car 3: 1995 GMC 2500 EC Truck, 195K value: $4K owe $0 (my daily driver)
Car 1: 2001 Volkswagon Beetle (Diesel), 240k miles, value $2500, owe $0
Car 2: 2007 Chevy Impala, 160k miles, value $5000, owe $0
Total value: $7500
Gosh! Everyone here owes $0 on their vehicles makes me feel depressed! Good for ya’ll — bad for me.
2011 Chevy Malibu worth $11,500 and owe about $12,000
2010 Chevy Avalanche worth $16,500 and owe probably about $25,000 <– *The truck is my boyfriends – and this depresses me more than anything. It is so upside down there is no way out of it besides keeping it till it's paid off. That could be fine but we've already replaced the transmission and the gas mileage is ridiculous considering he works 60 miles from home. 🙁
This problem is so de-motivating for me.
2002 Hyundai Accent – anywhere from $2000 to $3000 depending on whether I use it as a trade-in or sell it to an individual buyer.
2010 Chrysler Town & Country. 113km $16,000 Owe $0
2011 Ford Escape. 68,000km $16,000 Owe $15,000
2011 Nissan Xtera, 60K miles, $16,900 owe $0
2002 Toyota Camry 160K $5,000 owe $1,300 (needed loan to build credit)
2003 Toyota Solara 175K $5,000 owe $0
1998 Ford Explorer 220K $1,500 owe $0
1995 Ford F-150 95K $4,500 owe $0
2005 Mazda 6, 120K, $4,600 owe $0
We don’t own a car but still thinking to have one in the future. Nice topic, btw, that guy really made me laugh! 🙂
Ummm… in no specific order:
09 Toyota Corolla, 75K miles, $12K value, just made the last payment (wheee!)
94 Honda DelSol, 165K miles, $3K value, $0 owed
91 Isuzu Pup, 155K miles, $1K value, $0 owed
74 VW beetle, odometer broken, $1K, $0 owed
I have had a company vehicle for last 9 years
My wife has a 2005 Ford Escape 90,000miles worth @$4500 we owe zero
2008 or 2006 Hyundai Accent, ~145,000 mi, owe $4500 – value ???
Husband drives for work and is in the process of driving this into the ground. I highly doubt it would resell for anything.
2007 Toyota Prius, ~60 miles, worth ~$11K, owe nothing.
2014 Subaru Outback, ~5K miles, worth ?$22K, owe nothing. This is less than a year old and replaced a minivan that was totaled when a little old lady ran a red light. Argh. Considered replacing it, but we don’t really need the space anymore so used insurance money and savings for a new wagon instead.
Since we prefer to pay in full for vehicles, I also keep a dedicated savings account to replace the value that they lose to depreciation so we can replace them when the time comes. This is currently only at ~$3500 because we just bought the outback, but the goal is to replace at least ~4K/year.
total vehicle assets ~$33K or ~^36.5K if you count the savings account.
2003 VW Golf TDI (Diesel) 380,000km Worth 4K owe $0
2006 Caravan, 120,000km, Worth 5k owe $0
2003 Suzuki Volusia (Motorcycle), 41,000km, Worth 4k, owe $0
My golf is running strong and I plan to drive it past 500,000km and keep going. The caravan is already looking old and will probably only be around a couple more years before it has been run into the ground and we have to replace it.
I just got my bike last year and plan to keep it as long as I can.
Car 1: 1995 Honda Accord 120K $1,700, Owe $0
Car 2: 2002 Subaru WRX 60K $9,500, Owe $0
Car 3: 2013 Subaru Outback 20k $30,000, Owe $0
Car 4: 2014 Subaru WRX 3k $32,000, Owe $26,500
Total Vehicle Asset: $46,700
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