re: How much car debt in your houshold

$0, been that way since about 2013...

2006 honda ridgeline ( I know, I know...)
2010 honda odyssey ....

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or quarter mile runs have to do with a weiner?

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Well, seeing as I don’t have a “weiner” anyway, I’m happy to drive a $25k paid off 2017 that gets 38 mpg on my daily commute, has more cargo capacity than some midsize SUVs, AND does a 14.5 second quarter mile. #gti

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It depends...does the mutual fund do 0-60 in under 4 seconds and corner like it’s on rails?

A car is not an investment. That’s where your logic is flawed. I am paying that much per month for the enjoyment I get out of driving that vehicle. When you pay your electricity bill at the end of the month, do you have a basket full of electricity to show for it and to sell for more than what you paid for it? No. But your air conditioner and refrigerator and blow dryer worked for that month, right?

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Since I'm also car crazy, I can see your point. But I'd be cautious about mixing wants with needs when justifying car purchases. Electricity is a need. Transportation is a need, but luxury and performance cars are a want. And there's nothing wrong with that. To each his own. You just have to go into those purchases with eyes wide open. Luxury and performance cars tend to depreciate like stink just setting in the garage on their own, and the more miles you put on them (as daily drivers) just makes the situation worse.

But to your point, performance cars, track days and going to races is how I've stayed sane over the decades. I'm still in touch with some of the people I met at CART IndyCar races and track days 30+ years ago. Racing is the only sport that I really keep up with and follow these days. So the money I spend on car/racing related activities is more of an entertainment budget item to me. And I realize that the depreciation that I get hit with when I buy a new car is burnt money that I'll never see again - so I don't rationalize it as anything other than a want. As far as daily drivers, I buy used, though still unique cars, and drive them to death. Those are disposable items and I'm not trying to put on a show for the Joneses. "BDE" is where I'm at now.

I don't have a car note, and probably won't for the foreseeable future. If I truly want a (used - let some other sucker take it in the shorts on the depreciation ) 911 GT3, I'll sell a couple of collector cars and buy one for cash. At this stage of my life, I don't feel that it would be wise to go into debt to buy a play toy... or go to the Italian Grand Prix. One way or another, I'll pay cash to do either or both, if I want to make the move. It's fine to live for the day, but I think about how things will be if there is a tomorrow.

Your situation is kind of special. But IMO, for the average person, buying a new car every few years, or bouncing in and out of leases on grocery getters or soccer mommy mobiles, is just a bad way to delay retirement, while not having anything to show for it.

$0

2015 Range Rover Evoque
2016 Mini Countryman All4

Probably the last two vehicles I’ll ever own.

About $7000 here, at 0% APR. I'd keep it on the books forever if I could but they make me pay it off anyway.

Your rates aren't too bad. Most of your payment is equity, not interest. Sounds like you just bought too much car.

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I don't have a car note,

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that is how i plan to keep it UNLESS it is a needed business expense which it will be. so if i have 1 note and all i buy are used with cash i am good with that.

$0

2016 Avalon.

Had a 2012 Camry until I was in a car accident in September.

I pay cash for cars, and never buy new. I drive a lot in my line of work and need something fuel efficient that holds its value well.

I learned to hate debt more than I like material things. Climbing out of an $80K hole because of stupid purchases and irresponsible behavior will change your life

7800
2012 Lexus Rx350
2013 Toyota Sienna
2006 Toyota Tundra

how do you like the XJL?

Lease $530/month 2018 XC90
Garage is $550/month

Gotta love living in NYC