If you’ve already got one vehicle in the garage, you may be wondering what it’s going to mean to get another. What will be the benefits of such a choice, and what will be detrimental? Let’s take a look at the positives and negatives of owning more than one vehicle.
One downside of owning multiple vehicles is that you’re going to be paying a bit more for insurance and registration. However, if you have good vehicle history, prices likely won’t be too extreme in this regard.
Some claim that maintenance fees go up, but if you’re still driving the same amount as before, service fees should stay roughly the same as you’ll only be getting 50% of the previous service on each vehicle instead of all 100% on one.
Similarly, each vehicle should only be experiencing 50% of the wear and tear that your single vehicle would otherwise get. So service and maintenance fees should not change much.
The nice thing about having a spare vehicle is you have a back-up. If you go out to your main car one morning and find a flat tire, you’ll still be able to take your other vehicle to get to work on time and can deal with the flat tire problem at your choosing. You won’t be as seriously inconvenienced by the unexpected.
If one of your vehicles is your pride and joy, you’ll be able to protect that ride from mundane or rough daily driving by using the other car for such “dirty tasks.” This will help your primary machine stay in good condition, stay clean, and last longer.
Of course, for a family, having multiple cars is highly convenient and often near-necessary. This becomes even more so once a child gets to driving age.
Having multiple vehicles can also open up a wider range of life possibilities: for example, you can have one sports car and one SUV, granting the ability to do quick runs at the track while also being able to take your family camping. If you own a pick-up as one of your vehicles, you can use it to take care of work that needs to be done while not having to deal with the downsides of its cramped space and more difficult city-maneuverability.
Trade-Ins and Space
Two final things to consider are whether or not you’d prefer to get the trade-in value of your old vehicle, and whether or not you’ll have a place to put a second one. When buying a new vehicle, you can get a fair amount of money towards it by trading in your old one. Also, consider the space you have at your home and where you’re going to store your second ride.