Math on having a second vehicle
I'm thinking about getting a little run around car instead of driving my Duramax as a DD. I drive about 200-250 miles a week and am looking as spending around $5000-$6000 on a little car. I would l...
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When I looked into it, the math didn't work out. In your case, 200-250/week means about 12K miles per year. I don't know what kind of mileage you get right now, but say for instance you get 18 MPG average based on the diesel price from gas buddy, it would cost you about $2530 for fuel. If you get 20 MPG, it would be about $2280. If you get a car that gets 30 MPG (gas), you would spend about $1440 and at 35 MPG you would spend about $1230. So it will cost you about $1000/year more in fuel for the truck. So just for fuel, you are looking at a 5-6 year break-even point. That doesn't count the additional insurance, license, registration, taxes, and/or maintenance for the car.
When I was trying to see if it worked, I think I ended up with the break-even point at about 7-8 years. Only you can decide if it is worth it to you based on the numbers for your situation.
When I was trying to see if it worked, I think I ended up with the break-even point at about 7-8 years. Only you can decide if it is worth it to you based on the numbers for your situation.
