Is it worth it owning two cars?

[GoingUp]

Heres the scoop, I have an explorer that I love, but its killing me on Gas. I'm thinking about getting a smaller car thats better on fuel economy. I can get a good deal on an older Neon. I'd like to keep the explorer for when I need the extra size and in the winter when the weather gets snowy and crappy. I figured it out and assuming Gas is 2.50 a gallon, I'll save $950 a year in gas based on my current driving mileages. Of course, I'll have to pay a extra car insurace and probably garage fees too which adds up to almost $750.

Is it stupid to get another car to save $150 a year in gas? I have enough cash to buy the other car outright, but I just talked to my mom and she reminded me of all of the additional expenses that I would have. If I was getting rid of the explorer, it would be a no brainer, but because winters can get crappy up here, I want to keep it around...

Your thoughts please. And I don't give a rats ass if you like my choice in cars, im more concerned about how much or little sense this would make.

 

[BlueWeasel]

Originally posted by: Gobadgrs

Is it stupid to get another car to save $150 a year in gas?

That comes down to $13/month....definately not worth getting another car over.

 

[zebano]

The time you will spend dealing with the new cars quirks/trouble will easily cost more than that.

 

[dxkj]

Originally posted by: BlueWeasel

Originally posted by: Gobadgrs

Is it stupid to get another car to save $150 a year in gas?

That comes down to $13/month....definately not worth getting another car over.

And the math doesnt work anyway, your paying $13 a month + the cost of buying the 2nd car.... which adds up to a lot more.

 

[radioouman]

You have to want the other car for another reason. Gas mileage is OK, but if you want to make the other vehicle last longer or something, then it is worth it. Otherwise, no.

 

[Mr N8]

Get a mid-90's AWD Imprezza and dump the Exploder.

 

[GoingUp]

Looks like im gonna keep the explorer... id really like a car that gets better mileage, but i just dont drive far enough every year to justify a second car

edit: and because i want to keep the explorer because winters suck up here

 

[mchammer187]

Originally posted by: Mr N8
Get a mid-90's AWD Imprezza and dump the Exploder.

 

[suse920]

Originally posted by: mchammer187

Originally posted by: Mr N8
Get a mid-90's AWD Imprezza and dump the Exploder.

yeah both cars are fugly so go with the suburu

 

[So]

how much is the neon and how many years could you reasonably keep it?

If it's 3k, you're gonna need to keep it 20 years to recoup your investment. Nevertheless, I'd say you should recalculate your figure to assume that gas will be $3 a year from now, and conservatively, will creep up about .10 a year, also, over ten years, consider inflation.

 

[Tommunist]

yeup - buy a subbie that gets decent mpg and drive it all year round (w00t).

note: i drive a fwd car year round in New England and just put snow tires on in the winter and have had zero problems.

 

[Ronstang]

I have 5 cars and it is worth it to me to have all of them but I am a car guy and collect them. In you case the math does not add up considering the reason you think you need a new car. You will effectively spend more money (factoring in the price of the new vehicle) and primarily be driving a crappy little car you don't really enjoy. Doesn't make much sense to me.

 

[OffTopic1]

Originally posted by: radioouman
You have to want the other car for another reason. Gas mileage is OK, but if you want to make the other vehicle last longer or something, then it is worth it. Otherwise, no.

It is not worth it to have 2 cars because the longevity of both cars doesn?t offset the cost of insure both vehicles at the same time. And, technology gets better with time, therefore it is better to use one car then get a later model than having 2 older cars.

The anwer to the OP is, it is not a wise choice to spend $1000+ of dollar on insurance per year & initial cost of purchase a car to save $150. You will be wost off even if only insure for the road one car at a time.

 

[V00DOO]

Doesn't insurance alone wipes out any savings?

 

[Whoozyerdaddy]

Originally posted by: Gobadgrs

Is it stupid to get another car to save $150 a year in gas?

Yes.

 

[BurnItDwn]

If you buy a POS sh!tbox ... and you make that the "daily driver" on the insurance, and keep your SUV as the "sh!tty weather vehicle" ... you may actually wind up paying LESS on your insurance overall.

Also, I dunno how much garage fees are, but I'd say if you can park one in a garage and one on the street, and pay no more fees, it could be worth it.

 

[thedarkwolf]

Its worth it for me but it doesn't sound like it is for you. I have two older cars and like to tinker on them. Rightnow my mustang is setting in my garage with the upper intake off so I can change the valve cover gaskets but I have my van if I need to go anywhere so I work when I want and quit when I want. Plus its nice to have one performance car and one handy for hauling crap winter car.