Buying a second car can seem like a good idea, but is it something you should actually do? Do you really need another car, or is it better to just stick with the one you have? Before you jump into a purchase, consider these key things:
Can you afford two cars?
Owning two cars is pretty expensive! If you plan on driving both of them, then you’ll have to get insurance for each vehicle. Not only that, but you have to deal with maintenance on both as well. While there are ways to save money on car maintenance, it can still get pretty pricey when you have two vehicles under your name. Do the math to figure out if you can financially cope with the responsibility of two cars, or if you’re better off with one.
What’s the purpose of your second car? If you have a family, you may want a new car to operate as the general family car, while your old one is for more personal use. Or, if you have a child that’s just passed their driving test, you may want a second car for them to use. Some people buy second cars to use as weekend drivers or for long trips. All of these are viable reasons to buy another vehicle! However, if you just want one for the sake of it, then it could be a waste of money. The decision is yours, but think about what you will gain from having a second car.
Where will you store your cars?
Do you have enough room on your driveway for two cars? If you have a two-car garage, you’re sorted. But, if you have to keep one car on the roadside, it can be a bit problematic. For one, you have an increased security risk. Secondly, this will also make insurance more expensive! If you don’t have enough space to safely store your second car at home, you may want to consider car storage facilities. These work well if you plan on driving one car sporadically. For example, if it’s a weekend driver, you can go and get it from the storage facility every weekend, then keep it tucked away safely during the week. The underlying point is that you need to have somewhere to safely store both of your vehicles!
This links into the question about why you want a second car. Technically, it’s more of a consideration for people who are certain they want to buy another car. Here, you have to think about the type of car you want; a safe car, a fast car, an SUV, an off-roader, etc. Consider your reasoning for buying a car, then be sure you purchase one that fits the mold. Otherwise, you waste money on a vehicle that doesn’t really do what you want it to.
In some instances, it makes a lot of sense to buy a second car. However, there are just as many cases where it really isn’t a smart option. Think about all the points mentioned above before deciding if you want to splash the cash on another vehicle. A lot of the time, it makes more sense to just upgrade your current car!