Planning To Get A Second Car? Ask These Questions First4 min read
Owning a car is one thing, but owning two cars doesn’t mean two things. Whatever your reasons may be for buying a second vehicle with the idea of adding another vehicle to your garage, then you might want to reassess your decision first and ask yourself these questions.
Why do you need a second car?
A lot of households are already contented with owning a second vehicle. There are many reasons people are pining for a second car, or maybe even a third one. However, before you rush to the nearest car dealer, you might want to ask yourself the most important question: why?
(Check out: Five Steps When Buying A Second-Hand Car To Avoid Being Duped)
Do you need a second car because your current vehicle doesn’t provide enough space for the family?
For most people, getting a vehicle means being able to transport your family and belongings in the most convenient way possible. However, there are times that, for instance, a growing family is unavoidable, and your current car cannot accommodate your family. While this may be a valid reason to get a new car, there may still be other options you can consider before adding an additional vehicle to occupy your garage.
Do you need a second car because carpooling is inconvenient?
A lot of families use their vehicles to carpool, with the parents driving off their kids to school before heading to work. However, there may be circumstances that may change your arrangement, such as transfer of work to another location or other factors. If one of the family members taking public transportation is not an option due to several concerns, then this can be a good reason to buy a vehicle.
Do you need a second car to merely keep up with the Joneses?
If you are thinking of merely buying a second vehicle for other purposes other than vanity, then you might want really reconsider getting a vehicle just to amp your social status. While you may say that you can do whatever you want with your money, there are other forms of investment you can use your money for instead of buying a new car. Think about really carefully before you buy out of vanity.
What are the pros and cons of owning a second car?
If you have finally decided that getting a new vehicle is worth it, you might want to brace yourself for all the pros and cons that come with a new vehicle:
- Convenience. Probably the biggest advantage of having a second set of wheels is that you can use your vehicle at a whim without having the need to consider if there are others who might use your car. Furthermore, beating color coding has never been easier with an extra car.
- Status. Although this is difficult to avoid, having two cars in your garage will definitely say something about your financial health. No matter how you look at it, having two cars in your garage looks undeniably good.
- Cost. When you decide to get a second vehicle, keep in mind that you need a huge amount of money to finance your car. If you are planning to buy a new car without enough liquid cash to purchase it, you can think of applying for loans and other ways to finance your car.
- Repairs and maintenance. Owning two cars mean twice the maintenance you have to do. If you do not know the basics of troubleshooting or maintaining, then you’re in for a frequent visit to your mechanic, especially if you’re planning to buy a second hand vehicle. No matter what car you buy next, just brace yourself for repairs.
Tips when buying your second vehicle
The idea of buying a second car is an exciting phase in life, and you may get way over your head with all the adrenaline rushing into your veins. However, you need keep your head in the zone and heed these tips when buying a car.
Consider getting a much bigger car
Even if you are not expecting a growth in the number of family members in the foreseeable future, this doesn’t mean that there is no point in getting a bigger vehicle than what you currently own. For instance, if your first vehicle is a sedan, consider getting a pickup or a sports utility vehicle. You’ll never know when you’ll need that extra space, but you will definitely in the future.
(Check out: Think You’re Driving a Beater? Improve Your Car without Shelling Out a Fortune)
Look for used but reliable secondhand vehicles
If buying a vehicle is really a necessity, then try to look for cars at reputable car dealers or even associates who are selling their vehicles. Sometimes, you can get used but sturdy cars, which are almost as good as something fresh out of the dealer. Just make sure that you will get a car from a renowned person or you might get scammed.
Take the nuclear option—sell your vehicle
If you really need a second car but cannot afford to do so, then take the nuclear option and simply sell your current car so you can get a newer one. Aside weighing other options such as commuting, you can save a lot from avoiding repairs, maintenance, car insurance payment and other payments for your second car.
In the end, it is still up to you whether you’re getting a second vehicle or not. However, keep in mind that there are several factors you need to think about very carefully, and even the slightest miscalculation can cost you a lot.