Owning multiple vehicles

[Jigaman]

My wife and I currently have 3 vehicles. She drives a mid-size SUV (Chevy traverse) and I have an f150 that is basically only used to hunt/fish/pull stuff and then I drive an older car as my daily driver and hauling the kids around. I have been looking at replacing the car since it is getting high mileage and there are a few things that need replaced/fixed so am considering selling it (worth about 2k) and replacing with a newer one (8-10k price range). wondering if I should just drive the old car until it dies and then just drive the truck everyday or upgrade cars. Back when I bought this car was when gas was really expensive so it made more sense. I really do like driving the car for running the kids around and just everyday use. It is also very convenient having a spare vehicle. What would you do. average mileage per year for each vehicle is below.

wifes suv - 12k
truck - 6k
car - 12k

 

[KDM]

Figure out how many payments for the "New to you" car it would take to fix the old one and then compare it to the duration of the "New to you" car loan. Just as an example: I can buy a new engine, transmission, and drive train for about 3800 bucks. A new car that would be acceptable and do what the current vehicle does would be about 4 times that. Good Luck!!

 

[Jigaman]

How much would it cost to fix the car? I'd rather shell out 2-3K for upgrades vs paying 10K over 4-5 years for a "new" one.

probably 2500 to fix everything. My concern is with 140,000 miles it will start to be one thing after another. the newer cars I am looking at have less than 80,000 miles. I am not mechanical so everything goes to the mechanic to get fixed.

 

[FishSticks]

probably 2500 to fix everything. My concern is with 140,000 miles it will start to be one thing after another. the newer cars I am looking at have less than 80,000 miles. I am not mechanical so everything goes to the mechanic to get fixed.

This is what I was going to say. If you can get a few grand out of each of your vehicles then you can use that to buy one with less miles or a down payment on a new one.

 

[PrairieGhost]

We had the same problem. In 2012 we bought a new Chev Diesel pickup, and a new Buick LaCross. We would like a fun 4X4, but didn't know if we could justify it. The pickup gets about 20K a year and the car about 18k a year. We thought about a Jeep, but I told my wife a Toyota FJ Cruiser with 100K would outlast a new Jeep and do everything it did.
My last pickup I kept 11 years. I'm 68 years old so if I don't put to many miles on this pickup I can keep it until I am 78. I am not dragging our 17K pound 5th wheel to Arizona when I am 78 so with a third vehicle keeping miles low on the truck I would never have to buy another diesel. Also, hunting and around town the diesel does 12 miles to the gallon. The FJ Cruiser is rated for 18 around town.
So I found a 2010 with 23k miles for $30K. A month later it was $28K, a month after that it was $26K, a month later they called and said at 3:00pm it's going on a truck and headed to the auctions. If you want it today you can have it for $24K. So we bought it. No matter what I do I get 20 mpg. On the highway if I drive 65 I get 22 mpg. If we keep this vehicle for eight years we break even. I plan on making 20 years. If I keep it for 12 years and don't need to pay the extra for a diesel in a few years I will have saved about $15K. Twenty years will have saved me about $18k.
My wife and I thought it would be nuts for two old people to have three vehicles, but if you put the pencil to it you may be surprised. After deer season it was February before I drove the truck again. It's white which in itself got me excited when I thought about coyote hunting. Instead of walking a mile I hope I am getting by with only walking one half mile to a call stand.

 

[jdinny]

my wife and I are in the same boat

I have a Pontiac Bonneville with 204k and counting. she going til she dead, when she dies im looking for another one with 100K+

I have learned to do most of the maintence my self with my father in law, brakes, hoses, alternator, belts, pulleys , water pump etc. I generally bring it in 2x per year for things like the 02 sensor, mass air flow sensore, wheel bearings, tie rods etc etc.

if you can learn to do half the maintenance that car doesn't owe you a thing. car payments blow.

imo if its a daily to work and back thing, buy another car with high mileage do half the fixes yourself and your way ahead financially.

 

[Sluggo]

Miles shmiles. Vehicles are no longer shot after 100K miles. I would take a 2 year old vehicle with 80K over a 10 year old vehicle with 50K. I would drop down to 2 vehicles. Tires, batteries, repairs, insurance, oil changes, etc. add up on that 3rd vehicle too. Not too mention the space it takes up in the garage or you are scraping windows. I'm almost in the same boat you are and have only 2 vehicles, main diff is that I don't put quite as many miles on my F150 as you. That 8-10 grand can be used towards buying a new F150 in 10 years

 

[Kentucky Windage]

What's the total yearly average cost to own 3 vehicles vs 2? License, insurance, fuel, maintenance, etc. I would roughly calc that out to see if you need 3 vehicles. This will help answer your other questions.

 

[ItemB]

Same boat as got a newer pick up to hunt fish tow stuff with gets used in fall/winter when 4wd is needed or I want it. I have an older car I drive to run errands and back and forth to work has about 130000 on it have been having a few smaller things go wrong and I am worried like you are that it is just going to keep compounding problems on problems, but it has been cheap to fix and is cheap to drive.
I have been tossing around the idea of getting a smaller awd suv(subaru specifically) that gets decent mileage to drive back and forth to work, run errands, and could be used for longer scouting trips and what not to save on some fuel.:;:huh

I don't have kids but one thing to consider is the safety ratings on new vehicles vs older ones if your using it to haul kids around. May offers some piece of mind that has to be worth something.

 

[Ericb]

if youve been generally happy with the car i would stay with it untill its toast if your trying to save money. With modern cars and all the electronics your just as likley to have major repairs with a 80k+ vehicle as you are with a 140k. plus you never know how a car may have been treated

 

[FishReaper]

As a die hard Ford guy get yourself any gm with the 3.8 v6. and drive it till the wheels fall off. then bolt the wheels back on and drive another 200,000 miles

 

[Sum1]

Nothing I like more than no payments. I drive older vehicles that are paid off. I firmly believe the only way to get your money out of a vehicle is to drive it till the proverbial doors fall off.

Some people like driving nicer vehicles and I completely get that. I like having excess spending cash for gas and my tackle addiction. My boat is newer and nicer than any of my vehicles. Fishing is where my hearts at. I say drive'em till there dead.

 

[Jigaman]

As a die hard Ford guy get yourself any gm with the 3.8 v6. and drive it till the wheels fall off. then bolt the wheels back on and drive another 200,000 miles

Funny you mention this. My car now is a 2000 park ave and am looking at upgrading to a newer park ave or lucerne (06-08 had the 3.8)

 

[Kentucky Windage]

The energizer bunny is powered by a 3.8 V6.

 

[FishReaper]

The energizer bunny is powered by a 3.8 V6.

only thing more dependable is the Ford 300 I6

 

[Tikka280ai]

hell 140,000 miles is jus broke in. my daily driver has over 200,000 and still running strong

 

[ND 41 Hunter]

Another thing to consider, how old is is oldest child? You will need a beater for their first vehicle to keep the insurance down, as in liability only type vehicle.

 

[Jigaman]

Another thing to consider, how old is is oldest child? You will need a beater for their first vehicle to keep the insurance down, as in liability only type vehicle.

Oldest is just about 10. I will have a upgraded car before he is driving. Also, am going to be putting on more miles now due to kid starting squirts hockey this year and traveling all over the damn place.

 

[5575]

Myself,my son and my 3 brothers and father have put millions of miles on 3800 engines.
All used Grand Prix or Park avenues that were bought for usually under 6 grand with less than 100k on them. And almost all have went over 300K with little maintenance. I had really good luck with 3.1 engines as well. Yea most needed a $1100 gasket job sooner or later but that was it and they all went over 300K as well.


I bought a little 4x4 toyotoa 4 cyl 5 speed years ago for hunting and running around and I bought it for almost nothing. Best thing I ever did. Hardly put any miles on my 2001 F250 crew, I think its at only 108K or something and has been paid off a long long time and still looks like new.

After over 20 yrs of marriage mama got a brand new vehicle this year. We looked at them all and she chose the Hyundai Tucson, to tell you the truth I like the little bugger! 1.6 turbo 4 cyl all wheel drive and we have gotten over 30 mpg with the thing. Was 27K new out the door, heck it was almost half the price as allot of crossovers out there and it has a 100K warranty.

Me, I'm driving another 3800 grand prix

 

[johnr]

I have a Ford Taurus for a work vehicle, saveso running miles on my big diesel. Might not save me any money, but I feel good about saving wear and tear on my f250