OT--- Third Car- Any savings

pburchett · Jun 25, 2010

Help me figure this out or at least what do you think!

Me and the wife started kicking the notion of getting a third car to drive and save the wear and tear on the two good vehicles we now have. She has an 07 Mustang and it has a total of 15,000 miles on it. She loves it so much she would rather set and pet it than drive it as she swears some DUMB A$$ is gonna tear the side out of it and she will have to kill them. Since we both work at the same place she rides with me in the 08 Lariat crew cab and it now has 30,000 miles on it. I drive the truck as we normally haul a friend along with our two kids and her car will not seat five.

Started out looking at cheap beater cars ($1,000-$3,000) but they required more work than they were worth. Finally found two decent vehicles ($8,000 each and about 70,000 miles & 19 MPG) but was starting to think this is a lot of money to put into a third car to save some wear and tear on the good vehicles. The wife then found a couple of newer Ford Focus, that I will admit looked great but was $12,000 and $13, 000 with miles in the 20,00 range (22 MPG).

I got to thinking the taxes, insurance and upkeep on a third car, even with better MPG’s than my truck (13) would just barely offset the savings in fuel.
Any Suggestions?

gregk · Jun 25, 2010

I'm not proud of it but my wife and I have 5 running vehicles between the two of us. We both work aout 30 miles from home and with kids and all we have two dodge neons of different years with at least 160,000 miles on them each(good mileage and they just keep running). We also have the dodge caravan for when the 5 of us are all going together (the in-laws are 8 hours away). Also we have, not my idea, two pickups for the 2 days every winter when the roads are so bad that we may have to ride together and maybe lose an hours pay so aparently that justifies another insurance policy and a payment.

I guess your situation would depend on the miles you drive and is JUST the fuel savings would make up the payment on the car. In my case everything is paid off except the new to me truck so anything could go too.

JDNewbie · Jun 25, 2010

I would think the $8000 you're thinking of spending on a reliable "daily driver" would pay for quite a bit of maintenance/fuel for your '08 Lariat. Besides, if you wear it out, then you get to shop for another one!

RodinNS · Jun 25, 2010

Financially I don't think you'd get ahead with another vehicle. They just suck money from your wallet and nothing else.
The questions are wether you really want a third rig or not and can you afford a third rig...

Rod

GeneMO · Jun 25, 2010

The added costs of owning a third vehicle will never pan out to any kind of savings. Think less and simpler.

Gene

Bill(Wis) · Jun 25, 2010

A plain Toyota Corolla will run about $14-15k new and will get 35mpg+/-. That's better than $12-13k used that gets 22. One of my friends says 40mpg on his Corolla. Depends on how you drive it.

Anonymous-0 · Jun 25, 2010

Rule #1. If it's got nnalert or wheels it'll cost you money. What more needs to be said? Sorry to be so blunt.

Chris (WA) · Jun 25, 2010

We have three plus the van I drive for work. Not sure how much we will save but sure enjoy having the selection for different occasions. Pick up, Small SUV and a convertible.

old · Jun 25, 2010

If you own that new a 3rd one will only hurt you now if you own like I do as in the newest is a 1993 then a 3rd one will only help you. Wish I could afford one that new. But then again heck no I wish I still had a few ot the GOOD older ones that could take a licking and still keep on ticking

Anonymous-0 · Jun 25, 2010

My work ride ia a '97 Pontiac Sunfire coupe with the 2.2 liter 4-banger and the 5-speed... and 123,000 miles on it. I finally had to do a 4-wheel brake job at 119,000 miles, and over the past couple of years I've put 4 new tires on it...first major stuff since we bought it used with 30-some-thousand miles in 2001. The last few tanks of fuel have averaged 33-36 MPG on the cheap stuff, so I really can't afford to "move up" in vehicle. The A/C quit working a few years ago, but at highway speeds it's really not so bad.

NOW...if I was to fix everything that's soon going to need fixing, and do most of the labor myself, I'd be puting well over $1000 into what's STILL gonna only be about an $800-1200 car AFTER I've spent that money. But where am I gonna get a more economical ride,either for that $1000, or for that $1000 plus the trade-in value...that won't STILL need the work I'm gonna have to do on this one anyway?

The way I see it, at the current mileage, I'm due to replace the ORIGINAL clutch [including replacing the release bearing and resurfacing the flywheel], the ORIGINAL CV axles, the ORIGINAL timing chain, the ORIGINAL serpentine belt, and all 4 ORIGINAL struts...not to mention the ORIGINAL behind-the-cat section of the exhaust. Throw in maybe a couple of ORIGINAL lower control arms and ball joints, and even if I buy all the stuff at Rock Auto, I'm simply NOT gonna escape for under a grand...if I should get THAT lucky.

Just some stuff to take into consideration.

Formerly PaMike · Jun 26, 2010

My wife and I have a 3rd car and its worth it for us. We both work so the 3rd allows 1 car to be in the shop with out us having to run the other one to work. It also allows me to do a lot of repairs myself with out having to be under the gun to get the repair done RIGHT NOW. That peace of mind is worth a lot to me. The other big thing is my truck is a 2500 diesel. 50K to replace new. By driving a $3k car to worm every day it keeps the miles off the expensive truck. I only drive the truck when I need to use it as a truck. It works for me.

circus · Jun 26, 2010

Every man needs a sports car, mini van and beat up PU. Sports car to get a girl. Mini van nine months latter. Beat up PU after she kick you out and she takes you sports car and mini van. Got all three now just waiting for the boot.

Dave 2N · Jun 26, 2010

I don't know about the savings part but the third vehicle is handy to have around when one of the others is down or is in the shop.

My wife drives our 2006 Town and Country daily for her 30 mile round trip commute. (23 mpg and she lets me know to keep my hands off HER van.)

My daily driver is a 99 Ford Ranger 4 cyl. 5 spd 2 wheel drive. (25-27 mpg depending on town or highway driving. I love this truck and I DO share it with my wife!)

Also have a 2002 Silverado HD for hauling tractors, 6.0 motor. (10 mpg hauling, 14 mpg on highway.)

Nice to have a backup when needed.

My $.02.

John730D · Jun 26, 2010

Can't give advise about a third car, but the Focus will get better than 22 mpg. I have an 08 and just knocking around it will get 35. On a two lane road @ 60 it will get 42-45. Interstate @ 70 plus---38-40.

Leroy · Jun 26, 2010

For one thing your coworkers will be glad if you get a car as that will alow room in your work parking lot for one more car due to that truck taking up 2 spaces lengthwise and then it will also let the workers that have to park next to you to open their car doors. and everyplace elso you go you will be able to find a parking space that that oversize truck will not fit in. Drive it only when needed and save other drivers some greif with letting them have room as well.

Cas · Jun 26, 2010

I would only consider a third vehicle only if you
have vehicles one and two paid off.

Blackhole49 · Jun 26, 2010

I've allways owned a third vehicle for most of the stated reasons. My current is a 02 Caravan w/125,000. My son is currently on his third Saturn (02 wagon w/170,000). This had by far the fewest miles on it when he got a year ago for $2,400. I wouldn't hesitate to buy one if it ran good. He sold his last one (98 w/250,000) when he bough this, and it is still being driven. At 24, he is not known as being easy on cars.

brian(MN) · Jun 26, 2010

If I were in your shoes, I'd consider getting a third car. They way I see it, your mustang is a "toy" and is used very carefully on nice days and special occasions. Your pick-up is used for commuting and shopping. Once your kids are active with school stuff or what, your are going to have to haul them around, the miles will add up there. I'd consider getting a car that gets good millage (over 30). We have a '06 cobalt, that gets 30-34 mpg.The way we are set up here, I have my '94 pick up for the farm use, she uses the cobalt for work every day and we have the blazer for winter use and for my use when I need to go some distance.
Hopefully your veheicals are paid off.
Brian(MN)

JDemaris · Jun 26, 2010

We (my wife and I) always have around 10 good running cars and trucks. Works great for us. Always have plates on 5 or 6 at a time. One set of summer rigs and one set for winter (they get a lot of road salt and all are 4WD). We like having a mix of small high-fuel mileage cars, small 4WDs, diesel trucks for trailer towing, etc.

Is it expensive? Well, I've never had a car payment in my life. Also never had collision insurance in my life. Here in New York, motor vehicle inpspection is half price (or less) for older vehicles. Also parts are dirt-cheap. I suspect we spend a lot less, in total, to keep 5-6 on the road all the time, then others spend on one newer vehicle. But that only works if you do your own repairs and pre-buy most parts. I like having the choice of different rigs and also like the idea that if one needs repair, I just stick it in the shop and drive something else.

At the moment - we have on the road for the summer - a 1995 Geo 4WD Tracker, a 1999 Kia 4WD Sportage, a 1992 diesel Volkswagen Jetta, a 1992 Dodge extended-cab 4WD Cummins-diesel truck, a 1998 AWD Dodge Grand Caravan, and a 1986 Chevy turbo-diesel 4WD Blazer mini-motorhome.

700 miles from home up in northern Michigan we have a like-new 1994 F250 4WD ex-cab turbo-diesel truck in storage that we use most of the summer when we go there. When we leave NY, I pay $7 to swap plates from my Dodge to the Ford up in Michigan. Works out well.

ericlb · Jun 26, 2010

just an idea, buy a used chevy/ford/dodge, whatever your favorite flavor shortbed 6cylinder pickup from the early to mid 80's, and put er on propayne, they got decent milage, there cheap to buy and maintaine compared to todays trucks, [you can fix er yourself] and around here propayne is .80 a gallon cheaper than gas, other benifits, less polution, more engine life, and your not giving the arab camel jockeys 1 dime when you buy propayne

Riverslim · Jun 26, 2010

Dollars and cents probably wouldnd't justify it, BUT a third beater type is nice to have, spend less than that, though.

JDemaris · Jun 26, 2010

Here in central New York propane is $2.90 per gallon and the "pre-buy" price for this winter is $2.41 per gallon. In Long Island it's now over $3 per gallon.

So, here is what fuel really costs here:

Propane - $2.90 per gallon with 84,000 BTUs.
Diesel - $3.28 per gallon with 130,000 BTUs.
Gasoline - $2.84 per gallon with 114 BTUs.

Better said,
Propane - one dollar buys 29K BTUs of energy
Diesel - one dollar buhys 40K BTUs of energy
Gasoline - one dollar buys 40K BTUs of energy

Propane gives worse overall fuel mileage.
A 2004 2WD Ford F150 with 5.4 engine truck gets:

Propane - 10 MPG city and 14 MPG highway
Gasoline - 12 MPG city and 18 MPG highway

If I had that truck and drove right now in NY:

100 miles with propane on the highway would cost $20.71 in propane fuel and just about nobody sells it anymore at highway service stations.

100 miles with gasoline on the highway would cost
$15.77 in for gasoline.

If I drive my 1982 Chevy diesel truck that 100 miles on the highway it would cost me $14.26. I stuck my old truck in since nobody sells a newer 1/2 ton diesel truck anymore.

Anonymous-0 · Jun 26, 2010

Thats not really true Leroy,90% of the people that drive the puddle jumpers will take up two spaces anyway(park on the line,crossways)making it hard to park next to them properly.

Fordfarmer · Jun 26, 2010

I backed down to 2 vehicles (licensed and insured) due to insurance costs and not driving all that many miles. It would depend on the situation, I think it -may- work for you, depending on how much you pay for the third vehicle and what the insurance costs. My question is... Where are you getting those fuel mileage figures? My '01 F350 V10 gets up to 16 mpg, averages around 13. My wife's '02 Taurus gets up to 24, averages around 20. My Dad's Focus averages about 30mpg. Maybe you're running alot of city driving and have automatics? (my F350 and Dad's Focus are manuals)

Howard H. · Jun 26, 2010

I've got a '97 V6 Mercury Cougar with 253,000 miles and I love it.

I just got back from a 1600 mile trip in it and it averaged 28 mpg and didn't burn a drop of oil.

I put a hot new stereo in it with a complete underlayment of sound deadener everywhere in the cab so it rides as quiet as a Lexus, am redoing the upholstery to new, put new shocks, windshield, etc...

So was it worth putting $1500 in a $2000 car?? To me, yes... I enjoy coaxing more life out of it. And $1500 would barely be a decent down payment on a new vehicle.

With this, insurance is $45/6 months for liability and it wouldn't hurt too bad financially if I got hit. The only other car I'd be interested in driving would be a 2010 Camaro and I'd feel nervous about driving one of those unless I had it insured for replacement value, which obviously would be quite a bit more for ins.

Besides, living cheap with vehicles helps pay for my old tractor habit...

Howard

IndianaRed · Jun 26, 2010

I don't know, seems like cars can be a litle like tractors, let 'em sit and the troubles begin. I'd say drive the two you've got.

camju · Jun 26, 2010

first off you have to figure out how many miles per year do you drive.This divided by fuel milage = how much fuel you buy in 1 year

most people drive 15000 miles per year@ 20 mpg.=750 galones X $4 per gallon = $3000.
to save the cost of 1 more vehicle that costs $3000 to buy you now need to get 40 mpg to pay for it in one year not including insurance Most people can't seem to see this. I've don it so often that I got sick of all the expences and went to 1 or 2 vehicles and am way better off financaly for it.

Anonymous-0 · Jun 26, 2010

You allready have a 3rd, car - the Mustang you just need to add a daily driver. I have had may beaters over the years but today parts/repairs are so expensive you probably dont make out on a beater. Other thing is using an older car for a daily driver costs yos extra gas an the new ones get a lot better mileage.

newfarmer9 · Jun 26, 2010

Vehicles were MADE to be driven, not parked in a garage and petted. Drive the vehicles you have now, and save the money you would have spent on a third vehicle in case something happens to either one of your primary drivers. Then you can fix/replace with the money you saved, should you feel the need to do so as your other vehicles wear and tear.

barn E · Jun 27, 2010

Always have a spare(car). Especially if you do all your own work and are old like me(67) Number 3 died about a month ago and I don't feel like working on it yet. Vertigo will slow you down with working on cars. Purty soon back on road. Soon as one breaks, I cancel insurance until fixed. Gives you a chance to revise rates. Michigan just went up over 100 bucks a car with AAA or they are lying to me. Dave

36 Coupe · Jul 1, 2010

Third cars are called winter beaters in the road salt states.An older car or truck that can be repaired at home would be ideal.I still have the 36 Ford that I bought in 1954.I drove a 2nd car winters,just transfered the ins and reg.I paid 75 bucks for a 48 Ford winter beater.Sold it 5 years later for 35 bucks

OT--- Third Car- Any savings

Member

Member

Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Member

Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Member

Well-known Member

Well-known Member

Well-known Member

Well-known Member

Member

Member

Well-known Member

Member

Member

Well-known Member

Similar threads