I'm still driving a 1997 GMC Sierra. Its a POS, gets 9-10 mpg, breaks down every other month. Currently driving it with a transmission that is on its way out. 1st to 2nd shift is horribly rough, and I lost overdrive about a month ago. I will have to buy another truck before too long, but I will keep this one around as a hunting/work truck.
Bought the wife a new Fusion and I took her 2013 ford focus, my 2003 focus was a good car. Sold her for 500 bucks. I did the math once, In one week I use two tanks of gas now. In the focus at 2.50 Gallon that is 27.50(11 gallons tank) a tank, 55.00 a week and 220.00 month In my truck at 2.50 Gallon that is 85.00(34 gallons tank) a tank 170.00 a week and 680.00 month Car payment for my focus is 170.00 month 220 + 170 = 390.00 680 - 390 = 290 So I am still 290.00 ahead by driving the beater car, this was 680.00 until I bought my wife a new car. I am saving all those miles my truck.
Sounds like it might make sense for you to do that. A lot of people fail to figure in all the expenses that go with an extra vehicle. You still have to pay insurance and license and older vehicles are more prone to need repairs. If you drive a ton of miles, the math works. And, the nicer vehicle still depreciates while its sitting in the garage, just not as fast. All things to consider.
I'm still working through that on my side. I've figured in registration, gas mileage, insurance, $1.5k in maintenance, and also figured 20 cents a mile for saved depreciation on the nicer vehicle. Looks like I'll come out about $2k ahead over a 2 year period. Still not sure it's worth that to drive the beater when a surprise unknown expense could sink that equation quickly. It would also be nice to stick the $$$ for that beater car into my savings account. I think I'm going to list it with an ambitious price tag on it locally. If I sell it for that I'll unload it, if not I'll keep driving it.
Yeah I have a beater that I drive everyday. 1999 Subaru Forester that my wife used to drive. We got her a Honda Accord a few years back. When I got the Subaru from her it around 70k on it. I have put an additional 320k on it in 4 years. 388k and still going strong. I bought a truck last year and I can keep the miles down on it for a long time by driving the Subaru everyday.
Haven't paid more then $3000 for a vehicle in a while. Current car is a 2002 Cavalier that I bought 3 years ago for $2200 with 50,000 miles. I hate spending money on vehicles.
Absolutely Fletch, I keep my trucks for 10 plus years. I drive a lot for kids stuff right now, honestly having 3 cars has really worked out at times.
What is the annual maintenance on the focus? Depreciation vs depreciation saved on the truck? insurance? Is it truly getting 310% better gas mileage? I'm not saying it doesn't make sense to have two vehicles financially... but the math is way more in depth than driving roughly two tanks of gas and having a car payment.
I had two vehicles when I still ran a lawn company back in Kentucky. I had an 05 Camry for my daily driver while living in Bama, and left the truck in KY for the employees to use during summer months. I kept the truck during hunting season and the winter. It worked out great as I always had a truck if I needed, so I didn't mind the car. Once I decided to sell the truck after I sold the company, I despised my car. Didn't realize how many little things/times a truck came in handy. I quickly sold the car as well and moved back to a truck. Starting next year depending on my commute, I may buy a car again. If my commute is 50+ miles one way, I think the math works out to be beneficial (not to mention keeping my truck good for decades).
I keep the cars until they're dead, so I don't care about depreciation. My last focus was 12 years old. The last 6 years I budget of 1500 a year for maintenance. My current focus is under warranty. Where do you get 310% better gas mileage? Both go about 380-400 miles on a tank. One has a 11 gallon tank and one has a 34. Sent from my iPhone using Tapatalk
What's the point in paying for a vehicle (either a car loan or cash) if you aren't gonna use it? I understand having a fuel efficient vehicle for long commutes but I wouldn't have a beater. It would be a nice car because you're spending a good part of the day in it. If I had a nice truck I certainly wouldn't spend money on something else while the truck sat in the garage. Sent from my iPhone using Tapatalk
My Focus cannot pull my travel trailer. Trucks are now the same as cars these days. Trucks used to be used for work, those who had a truck did something with it. Trucks were not used to drive back and fourth from work. My truck is used for camping and hunting, it's not my work car. I do not need 6.2 liters to drive down the hwy to work. That's just me, I have found have a beater car works really well for us right now. When the kids are gone, will just have truck.
