Second Vehicles

You would not only save gas money but you would also save depreciation on your primary vehicle since you would put fewer miles on it. The depreciation on an older inexpensive vehicle is not very much compared to the depreciation on a newer vehicle.

I was looking at a truck for sale by the state that was a drug siezure vehicle. I bid $500 for it but it sold for $1500. It was a 1997 Nissan.

 

You are wrong that you would save money.

 

But you would have two depreciating vehicles. The primary variable in the first vehicle depreciating is the time more so than the miles.

 

CArs are fun. If you want to buy a truck, buy it. I have 3 vehicles and don't drive anywhere. I save no money by owning more than 1 car.

You are fooling yourself if you think you're saving money. Just spend the money on the truck and enjoy it as a toy that costs money.

 

You are probably right, it would cost more in the long run. I may still get one though. It is a pain to haul stuff in or on my SUV. I had to haul a mattress the other day by bungee cording it to my roof rack.

 

Get one if you want it...but don't think it's a good economical decision. If you have the money to buy one...invest it. Don't dump it into an deppreciating asset. You'll still have taxes to pay, title, insurance, etc...to save what...$20 per month?

 

My commute to work is about 15 miles. I drive a Rascal in the summer and a Polaris in the winter.

 

SUV at 16 mpg
Truck at 24 mpg
10K commuter miles per year

SUV gallons used 625 at $2.5 per gallon 1562.50
Truck gallons used 416.67 at $2.5 per gallon 1041.68

Gas savings $520.82 or $43.41 per month

Cost of Second Vehicle
Purchase $1000
Tax, tag, title $150
Insurance (annual) $225
Inspection (annual) $10
Tag $20

Total cost per year $260

Annual savings $260.82

Time to recoup one time costs 4.41 years.

Of course this is predicated on not having to spend any money on maintenance to keep a $1000 car running. You would probalby eat up your $260 per year savings in maintenance and repairs pretty quickly.

 

That's the root of the issue - 24mpg still sucks. If you have an SUV and won't use it to haul shit, you shouldn't have an SUV - get a minivan if you need space, a luxury sedan if you need people carrying in style, etc. And your second car should be a corolla or something UBER reliable and UBER gas efficient. Then the math starts to turn... Borrow/rent trucks when you need them unless you live on a farm or work construction (home depot rents trucks relatively cheap for the rare needs I've had). Hell, Meat loves to talk about the huge plywood sheets he can haul in his Odyssey...

 

I just hate hauling trash off in it. I live in a rural area where you have to haul your trash to the dump. I should probably just deal with it though and save the money.