Owning Multiple Cars: Read This Before Buying Another Car

Have you ever been shopping for a car and found yourself forced to pick between 2 different cars you love? There’s a sneaky third option: why not both? Why not indeed as that’s the subject of this article. Hopefully, this helps you decide whether or not owning multiple cars is a good idea for you.

Extra Costs Associated With Owning Two or More Cars

Now there are some obvious downsides to owning multiple cars, the biggest one being financial. Clearly buying two cars will cost you double the price of buying 1 car but there are actually other extra costs that you may not initially think about.

Taxes for example will increase when you have multiple cars under your name, and insurance premiums will go up if you have multiple cards registered to one driver.

You may think that doubling also applies to fuel costs but that’s generally not true, since you’re not going to be driving both cars at once, the fuel costs are actually split between both cars and will remain similar to the cost of fueling one car.

Do You Have the Room?

The second big issue of owning multiple cars is storage, having two cars means you need to have the space to store two cars. Depending on your current living situation this may require careful consideration, or it may not even be possible. For example if you live in an apartment complex with one designated parking space then getting more than one car is essentially impossible.

If you do have a house with a garage then you should consider if both cars will be able to fit in the garage at once, and if not you need to decide which one is better suited to sitting out in the elements.

Benefits of Owning Two or More Cars

It’s not all negatives however, there are some distinct advantages to having multiple cars. Different cars are designed for different things, and having more than one gives you the ability to optimize choices. You can take the smaller, more fuel-efficient car on your daily commute, and take the bigger car with extra storage for your weekly shopping.

If you live in a house with multiple drivers then having multiple vehicles, even if they’re all owned by the same person, means that people can be out doing different things without it being a massive hassle.

You can also view it as a sort of safety net. If one of the cars won’t start or is having issues on a morning when you really need to get to the office, then you have a backup plan to make sure that you can still make it in on time 

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