We bought our car back in 2007. It was built in 2004 and so is older than this blog. At the last service, the mechanic said that there are some expensive repairs coming up. So, we decided to buy a new car. I didn't trust buying an electric car at this stage of the evolution of that technology. I especially wouldn't buy a second hand electric car. Wanting to reduce our carbon emissions we decided to get a hybrid. We test drove three different Toyota models: Kluger, RAV4, and Camry. It turns out there is more legroom in a Camry than in a RAV4! Kluger seemed a bit big. Today, we test drove the (white as in the photo above) Camry and decided to buy it. It's similar to our old Ford Falcon, but 20 years newer and being a hybrid, uses about 1/3 of the fuel. Price is $34.5k vs. the $16,750 we paid for the Falcon in 2007. With 67% inflation in Australia since then, $16,750 would be $28k today. Back then, we thought Toyota was too expensive. We only got $500 for the old car from the dealer. Their argument is that it will need a lot of work to be saleable, which is true, and why we are getting rid of it.
BTW, the car is worth about 1/2 percent of net worth. No where near the 5% cap suggested by Financial Samurai.
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