I’m a terrible personal finance blogger in the aspect that I constantly think about what I will eventually buy. Pay off debt to spend more money, just not on credit!
I’ve mentioned before that one of the big purchases we will be making once our debt is paid off is a second vehicle for me. Right now we’re a one vehicle family and it mostly works. There are some inconveniences, like me being off every Monday and being stuck at home rather than attempting more out-of-house productivity, but we make it work. Especially when we’re talking money savings by eliminating the associated costs with a second vehicle. But the time will come we will eventually need one.
When we move to a house even more outside of the city, I will need a vehicle to get to work. Right now my husband is able to drive me to a public transit terminal and I commute that way, but given the probable location of house #2, this will no longer be an option. We will also likely have more children and with both parents working full-time in opposite ends of the city, a second vehicle will be necessary to coordinate our lives (even when debt is paid off I have no aspirations of not working in my chosen career).
We’ve established that we need a second vehicle but aren’t sure what to buy.
Come vehicle #2 purchase time, we will have a nine-year-old crossover, who to this moment in time, has served us very well. Our second vehicle purchase will either include an older used car for myself, keeping current vehicle. A new(ish) truck for my husband (living in country he wants a pick-up) as well as a used car for me to get around town in (trading in our current vehicle) or keep current vehicle until she dies and get new car for me.
While I think my husband is hopeful we go with option #2 (new truck for him and a complimenting a car for me) I don’t foresee us trading in a paid-off vehicle and having the funds to buy two new vehicles. We will more likely keep the current vehicle (pending no major issues) and get a new(ish) car for me. Then start saving for hubby’s truck.
I’ve driven older used cars. My first was an old Corolla that I loved. Though I was pretty lucky not needing too much major work, I definitely have more peace of mind with our current vehicle which we bought brand new. Though I probably wouldn’t go the brand-new route I will likely buy a reliable car that is within a year old, with a warranty.
My sister-in-law has a new Hyundai Elantra and I love it. It’s the exact size car I’d be looking for. Not huge like a full-sized sedan (I grew up in a Camry house) but big enough that I could get groceries while having a car seat (or two) in the back seat. I’m short so I definitely want a car as my own to make it easier to put kids in and out of. I have a hell of a time now with our current vehicle, one of my only complaints and it has nothing to do with the vehicle per se.
We still have a few years (probably three to four) before we make this purchase but I’m constantly doing my homework on different vehicles and checking out what friends and family have to maintain my list of contenders.
Do you have more than one vehicle in your household?