costs of owning a second car (DD)

orange150

orange150

Well-Known Member
Joined
Mar 20, 2005
Location
Fairfax City, VA
I'm beginning to feel I need something that's more efficient than my '97 PSD to drive daily.

I'm wanting to know if y'all think it's worth the added expense (insurance, and a car payment) to own a second, more efficient, vehicle.
I'm looking at TDI Passats or Jettas in the $6-$8k range.

I drive about 60 miles a day for work, and am in a lower level management position, with (hopefully) room to grow.

This would also be my first and only loan, and being single I only have my bills to worry about.

Thanks!
 
Cost of ownership would be much lower (compare fuel/maintenance/etc.), for sure -however I would analyze the purchase cost of the second vehicle and convert that into 'how long i would ahve to own the 2nd car before it would actually be saving money over the operating cost of the diesel'

IMO, it's going to take you about a year or so to actually 'save' any money over just driving the truck every day, assuming there are no big maintenance hits on the truck (that would offset teh analysis)


+1 for having a back-up vehicle, though. That can be a lifesaver.

(and obligatory why not buy a much more reliable shitbox like a civic/etc?)
 
Hurley said:
Cost of ownership would be much lower (compare fuel/maintenance/etc.), for sure -however I would analyze the purchase cost of the second vehicle and convert that into 'how long i would ahve to own the 2nd car before it would actually be saving money over the operating cost of the diesel'
IMO, it's going to take you about a year or so to actually 'save' any money over just driving the truck every day, assuming there are no big maintenance hits on the truck (that would offset teh analysis)
+1 for having a back-up vehicle, though. That can be a lifesaver.
(and obligatory why not buy a much more reliable shitbox like a civic/etc?)
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Agreed. Pick up a honda or something fclose or $2-3K or less. cheap to maintain and cheap on gas.
 
Agreed with everything Hurley mentioned.

It will take time to save the cost of the vehicle with just fuel costs, but keep in mind lower maintenance costs with something like a shitbox honda, and lower insurance costs.

A lot of people argue that you will wind up paying more having to insure a second vehicle, but that is just not true if you buy an older shitbox to DD. When I had only my 01 Silverado on my insurance, I was paying roughly $100 per month for full coverage, when I added my 78 K30 on there, and bumped the 01 to "weekend use" and put the 78 as my DD, I got the discount for weekend use and multi car which dropped my insurance to $80 per month, still with full coverage on 01, liability on 78. My insurance was LESS with 2 vehicles. Then I added my 89 Mazda on there, which made it roughly $90 per month. With 3 vehicles, I am still paying less than it cost to insure just the one. Now if you went out and bought a new/newer vehicle, you might not see those savings.

Also it is always great to have a back up vehicle, I couldn't imagine owning just one and having to scramble when something breaks.
 
Depends on how you look at it.....My father in law just bought an 08 Mazda 3. He has an Expedition that he had been driving everyday 14 mi one way to work. He paid 16k for the mazda....he thinks with the gas that he will save that it will make the car payment, which might be true...but you just spent 16k on an additional car which, had he bought something a little cheaper and still good on gas.....he might have came out better.
Me...I bought a cheap little jetta to drive around..well my problem is, I hate stock cars....So i lowered it, re did the exhaust, fixed alot of things on it, so it ended up turning into a project car.

But yeah, those tdi's are really nice and last a long time if you get the 5spd. Heard something about the auto's are terrible.

I'd say, if you can afford to buy one and really stick to driving it everyday...I think you would save a bit of money.
 
Hurley said:
(and obligatory why not buy a much more reliable shitbox like a civic/etc?)
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The short answer? I don't want to drive/buy a POS. And I'm the guy that recommends a beat up honda to people looking for a cheap car to drive.

I'd like to drive something at least a little nice and not so "beige" as a honda/toyota.
 
The way I look at it, if you can pick up the car for cash, you wont be paying for full coverage insurance on it, you will get a multiple car discount on the insurance on the truck, which you can put in the "occasional use" category (or whatever they call it) for insurance, which makes it cheaper, too.

What you will save in gas, will more then cover the insurance on the additional vehicle, which will be minimal, plus you will be saving wear and tear on a big truck. Replacing anything on a small car is cheaper then on a big truck. Maintenance items such as tires, brakes, oil changes, etc. are all much cheaper.

I've seen a bunch of $1000-2000 cars that are still in decent runnable condition. I don't think I'd spend less than that, though. At the rate you are driving, I figure you are burning $11.25 in diesel a day. (based on 20 mpg, $3.75 per gal. - I doubt you are getting that). Switching to a gas powered small car getting 28 mpg at $3.50 per gallon is $7.50 per day. That's $3.75 a day saved just in fuel. A $1000 car will pay for itself in 9 months. This also gives you a second vehicle to use in case one breaks down. Buy one that's 1995 or older so that your inspection is cheaper, too.
 
ManglerYJ said:
The way I look at it, if you can pick up the car for cash, you wont be paying for full coverage insurance on it, you will get a multiple car discount on the insurance on the truck, which you can put in the "occasional use" category (or whatever they call it) for insurance, which makes it cheaper, too.
What you will save in gas, will more then cover the insurance on the additional vehicle, which will be minimal, plus you will be saving wear and tear on a big truck. Replacing anything on a small car is cheaper then on a big truck. Maintenance items such as tires, brakes, oil changes, etc. are all much cheaper.
I've seen a bunch of $1000-2000 cars that are still in decent runnable condition. I don't think I'd spend less than that, though. At the rate you are driving, I figure you are burning $11.25 in diesel a day. (based on 20 mpg, $3.75 per gal. - I doubt you are getting that). Switching to a gas powered small car getting 28 mpg at $3.50 per gallon is $7.50 per day. That's $3.75 a day saved just in fuel. A $1000 car will pay for itself in 9 months. This also gives you a second vehicle to use in case one breaks down. Buy one that's 1995 or older so that your inspection is cheaper, too.
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Actually since you only work 5 days a week (and not 7) it would take 54 weeks to save $1,000. Which covers the cost of purchase. Now look at insurance increase, not much maybe but it wll be some. What about registration and property taxes?

A $6,000 vehicle would have to run problem free for 5+ years to pay for itself. If you enjoy driving the 6k car more then that is a value you can add, or if you love your truck maybe it helps it last longer that has a value. But strictly economically speaking it will never make financial sense, imho.

We have not even calculated interest or opportunity cost into these equations, and I am using Mangler's numbers
 
GCncsuHD said:
Agreed with everything Hurley mentioned.

It will take time to save the cost of the vehicle with just fuel costs, but keep in mind lower maintenance costs with something like a shitbox honda, and lower insurance costs.

A lot of people argue that you will wind up paying more having to insure a second vehicle, but that is just not true if you buy an older shitbox to DD. When I had only my 01 Silverado on my insurance, I was paying roughly $100 per month for full coverage, when I added my 78 K30 on there, and bumped the 01 to "weekend use" and put the 78 as my DD, I got the discount for weekend use and multi car which dropped my insurance to $80 per month, still with full coverage on 01, liability on 78. My insurance was LESS with 2 vehicles. Then I added my 89 Mazda on there, which made it roughly $90 per month. With 3 vehicles, I am still paying less than it cost to insure just the one. Now if you went out and bought a new/newer vehicle, you might not see those savings.

Also it is always great to have a back up vehicle, I couldn't imagine owning just one and having to scramble when something breaks.
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Point blank then ou could have saved money by re-doing your insuranc eon 1 vehicle. There is no formula where it is cheaper to insure 3 vehicles than it is 1.

BTW I dont pay $100 month on 4 vehicles including the 07 f250 and the 05 Expedition full coverage on both, and 500/250/500 levels.
 
its the same arguement for swapping engines to get better mileage. after all the expenses.....you could of paid for several hundred tanks of fuel!
 
Once thing being overlooked is the 'savings' by NOT operating the larger vehicle.

It's easy to cost out the extra expense of the 2nd/3rd vehicle but your omitting that you actually 'need' the transportation in the first place. I average 15k/year. What does that do to your other vehicles overall value and how much does that affect its life span ? What's the replacement cost on your truck when its wore out or now not reliable for DD and Tow duty? The cost savings from minimizing use on your truck should be considered.

The +1 car aspect is HUGE.. At my point in my career I need to be at work. Being able to have one in the shop or just down, and simplify the logistics for that is much easier +1 cars.

Also once your in the +1 DD category, it can change your views on what you need in a tow rig.
 
Ron said:
Actually since you only work 5 days a week (and not 7) it would take 54 weeks to save $1,000. Which covers the cost of purchase. Now look at insurance increase, not much maybe but it wll be some. What about registration and property taxes?
A $6,000 vehicle would have to run problem free for 5+ years to pay for itself. If you enjoy driving the 6k car more then that is a value you can add, or if you love your truck maybe it helps it last longer that has a value. But strictly economically speaking it will never make financial sense, imho.
We have not even calculated interest or opportunity cost into these equations, and I am using Mangler's numbers
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Good point, I had forgotten about the 5 day versus 7 day. Still looking at having it paying you back in a year then. Two years for a $2000 car. Again, I used very conservative numbers in my estimates. There are a LOT of 1995 and older cars that get better than 28 mpg and look good doing it.

As far as registration and property taxes, they are less than $100 on just about any vehicle that age.

I still stand by my claim of lower maint. costs for a smaller vehicle, though. Plus the advantage of having a second vehicle at your disposal is nice too.
 
I bought my 04 TDI Passat in 2007, had 70k miles on it. It will cross 160k sometime next week. I've put 3 sets of tires on it (at $250 a SET!), 1 wheel bearing ($120), changed the timing belt ($250ish), and changed the oil 9 times ($450). I've kept a spreadsheet of every single tank of fuel I've put in it, with mileage, price per gallon, etc. So far I've saved over $13k in fuel costs when compared to the 15mpg I was getting in the TJ. I just drove down to the beach and averaged a little over 43mpg driving in the rain about half the time with the AC on. I paid $16k for the car, so technically it has not paid for itself, however, the fuel savings coupled with the unquantifiable value of having a nice, reliable, low maintenance 4 door car with heated seats and power windows is plenty justified in my mind. With that said, I'll be looking for a 4 door diesel truck here soon, but I won't be getting rid of the Passat.
 
You guys are saying 5 days a week, but he will probably drive it on the w/e's too to run around. Also figure in the savings on trips out of town, like the beach, mountains etc.
 
IMO it's win win for the layman's analysis


...Ron's got dat 190% numba cruncha going on here haah

(this conversation is also why I maintain a 91 civic sedan for general use, if you've got it, you can't beat it, even with maintenance costs)
 
Nah and I am biased...I drive a company car on company gas 65k miles a year. The diesel just on weekends or as needed.
 
yager said:
Once thing being overlooked is the 'savings' by NOT operating the larger vehicle.

It's easy to cost out the extra expense of the 2nd/3rd vehicle but your omitting that you actually 'need' the transportation in the first place. What does that do to your other vehicles overall value and how much does that affect its life span ? What's the replacement cost on your truck when its wore out or now not reliable for DD and Tow duty? The cost savings from minimizing use on your truck should be considered.

The +1 car aspect is HUGE.. At my point in my career I need to be at work. Being able to have one in the shop or just down, and simplify the logistics for that is much easier +1 cars.
Click to expand...

This.

drkelly said:
but he will probably drive it on the w/e's too to run around. Also figure in the savings on trips out of town, like the beach, mountains etc.
Click to expand...

This.

jeepinmatt said:
I just drove down to the beach and averaged a little over 43mpg driving in the rain about half the time with the AC on... the fuel savings coupled with the unquantifiable value of having a nice, reliable, low maintenance 4 door car with heated seats and power windows is plenty justified in my mind.
Click to expand...

And this.


Ron said:
I drive a company car on company gas 65k miles a year. The diesel just on weekends or as needed.
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That was one thing I have been kind of holding out for. I'd hate to buy a car, then in less than a year end up getting a company vehicle.
 
01-03 Jetta TDI 5spd gets 55mpg all day long w/a little tune work. 48-51 stock.
 
Well, that's the great thing about a $1000 car. Buy it for $1000, put 20,000 miles on it and if you get a company car, then sell it for $900. THe depreciation has already been taken. A $1000 car only really depreciates significantly more if it stops running, or is in a wreck.
 
ManglerYJ said:
Well, that's the great thing about a $1000 car. Buy it for $1000, put 20,000 miles on it and if you get a company car, then sell it for $900. THe depreciation has already been taken. A $1000 car only really depreciates significantly more if it stops running, or is in a wreck.
Click to expand...


right but we have established he wants a $9,000 car...so :lol:
 
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