Studies show that the number of households that own two or more cars has increased dramatically over the past 30 years. However, is this a sane financial choice? Should you or shouldn’t you buy a second car? What are the advantages and what are the disadvantages of doing this? If you want to learn more about what owning a second car actually means, make sure to read on:
The Pros of Owning Two Cars
One of the main reasons many families choose to own two (or more) cars is quite simple to understand: it is far more convenient this way. You don’t have to work your schedule around each other, you can go whenever you want wherever you want, you don’t have to use the bus or to bike if one of the cars is in the service, and so on. Furthermore, for families where the work schedule simply does not allow them to pick each other from work, owning a second car is very frequently more than a matter of option. Even more than that, if you have children, you never have to worry about how to drop them off to their appointments (school, extra-curricular activities, and so on).
The Cons of Owning Two Cars
One of the major disadvantage that comes with owning two cars is related, of course, to money. Having two cars means that you will have to actually pay for two cars – and this does not include the price of the car proper only, but the additional maintenance costs as well. Repairs, insurance (on which you can get a multiple-car discount, but nevertheless, it will be an extra cost), parking – all of these purchases can add up considerably. For a car that originally cost $25,000, you will most likely end up paying about $10,000 more – and that’s a lot of money no matter how much you make at the moment.
Even if you own only one car, you can still live a comfortable life. If you can plan your schedules in a way that helps both of you use the car when you actually need it, if you save some money for rainy days and if you rent a car when you need a second one (some of them can be rented for as low as $15), you will be able to live perfectly without a second car too.
Is There Any Compromise Solution?
Sure, if you really want to own a second car, there are always halfway options to think of. For instance, buying a second car but buying it used will most likely save you some money (especially if you choose to save the money for the car and not to take a loan for it). Furthermore, buying an old “classic” and reconditioning can be cheaper (and it will provide you with other types of satisfaction as well). Also, keeping the old car when you buy a new one and driving it for shorter trips (or leaving it to your kids) can be a good compromise solution as well. Buying new tyres online is also a great way to save money on your car – especially if you’ve got two of them. Check out Tyre-Shopper for incredible online tyre prices.