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Is it worth it to have second car for daily use to save money?

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Old 04-24-2018, 12:13 AM   #1  
Jason Lu
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Default Is it worth it to have second car for daily use to save money?

Currently I have only one car, 2018 Corvette GS. I love it and drive it everyday/
But let's face it, daily drive a Vette is fun and all, but it is inconvenient and costly.
I did a quick math, I drive 20 miles to commute (round trip) every weekday, that's 440 mile per month, make it 500 give or take.
Combine weekend trips, I would say I drive around 700 miles every month. With average MPG of 15, assuming gas price 3.5 / gl
I spend 160 on fuel every month.
Tire cost is assuming life of 15k mile, A full set of 4 tires cost around 2000 + 10% tax = 2200. I spend 100 on tires every month.
Combine two, daily drive a Corvette cost me 260 per month.

If I get a Toyota Rav4 Hybrid for daily driver, 36 month lease is 300 per month, gas cost 70 (30 MPG, 3 / gl for regular gas, 700 mile)
Tire cost 28 (set of 4 tires: 800. life 20k mile => (700/20000) * 800)
Total cost 398. Assuming I drive very minimal on Corvette, this still cost 132 more per month.
But I do get a very practical SUV to haul things around, also get me where Corvette can't go (like ski resort and other places)
Should I do that? What do you guys think?
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Old 04-24-2018, 12:24 AM   #2  
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Nah.
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Old 04-24-2018, 12:24 AM   #3  
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You forgot insurance on 2 cars, but no one can answer that question for you. It depends upon your budget and need for two cars.
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Old 04-24-2018, 12:27 AM   #4  
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Life is much easier with a second car, I would say go for it.
Another factor you left out is the cost of insurance on two cars, this will depend on the the company and how your cars are classified for business or pleasure.
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Old 04-24-2018, 12:48 AM   #5  
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I have two other vehicles. A CTSV-2 and a Jeep JKU I love having the option of having choices to drive other vehicles. Specially, if a car is down, you have another vehicle to drive.
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Old 04-24-2018, 04:03 AM   #6  
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I have my truck, a motorcycle, and the wife's Audi to fall back on. I couldn't imagine not having options. I particularly like that I can park the car when the weather is crappy, especially with the SC2's that it's wearing. You're going to have to run the numbers, with insurance cost, and figure out if it makes sense for your lifestyle and budget.
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Old 04-24-2018, 06:27 AM   #7  
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Somewhere I read to figure the car depreciates a dollar a mile, lol!
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Old 04-24-2018, 06:57 AM   #8  
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You need 3. Fun car, commuter car, and truck.
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Old 04-24-2018, 07:01 AM   #9  
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leasehackr.com

Lease a Buick Encore for zero down 150 a month for 24 months...

Even then it doesn't make financial sense because the added cost of insurance...but at least your monthly nut is only $150...

Financially just drive your corvette but if you want a vehicle to park at work that isn't your corvette...go to leasehackr.com...

That 150 dollar no money down Buick Encore lease is a killer deal...

I just don't want the third car...it's a pain in the butt to move around with only a two car garage and no parking on the street allowed...

Last edited by JerriVette; 04-24-2018 at 07:06 AM.
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Old 04-24-2018, 07:05 AM   #10  
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https://leasehackr.com/blog/2018/3/8...h-s0-down-fees

Check out this site for cool deals on leases as a third vehicle at best pricing

https://leasehackr.com/blog/2018/3/8...h-s0-down-fees

Also places like www.legendleasing.com are easy and just stay with advertised specials. They deliver the car the next day or so...

Leasehackr though is anew find that seems even better at first glance

Three left for pickup in Florida...order from this guy and just pick up in Florida if you don't mind flying in for pickup...

I thought about it since it's about the cost of my cell phone plan...I just don't want a third vehicle..

https://forum.leasehackr.com/t/its-b...spots/40737/39

Last edited by JerriVette; 04-24-2018 at 07:21 AM.
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Old 04-24-2018, 07:05 AM   #11  
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My DD is a corolla. I could not imagine having my Vette be my DD. Way too much abuse driving it that way for me. I bought the Vette to be the fun toy I always wanted. I know a bunch of people do drive theirs as a DD and if thats what they want. Only you can decide this. My vote is get another car that you dont mind getting rock chips and door dings on and drive it to the not so fun places like work and grocery shopping.
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Old 04-24-2018, 07:14 AM   #12  
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You will never come up with a purely rational decision whenever a Corvette is part of the equation

I have a 2016 Z06 but I would never have considered it as an only car. Daily driver is a 2014 Cadillac ATS and I use my 2018 Sierra Denali HD when I need the room or weight carrying capacity. Financially buying a Volt and nothing else would make the most sense but I spend a lot of time driving.

With two cars you should be able to get a slight insurance discount if you can get a good price on all of your policies from the same agent. All my vehicles, homeowners, and umbrella liability are through the same provider and the Z06 has a low annual miles policy which fits fine with my use of it.

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Old 04-24-2018, 07:18 AM   #13  
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Quote:
Originally Posted by RyanC7 View Post
You need 3. Fun car, commuter car, and truck.

This used to be my thoughts as well. I actually sold my 11 F350 with only 29k miles and bought a 17 Raptor for a daily driver. Best daily driver I've ever had. No idea how people get by using a Corvette as a daily driver. It's extremely fun but very impractical.
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Old 04-24-2018, 07:24 AM   #14  
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Depends where you live, with the GS having non AS tires for me a second car was important and a SUV to haul stuff around and be able to drive during the winter months was a must.

If you can afford it and live in an area where it is cold, get a second car/truck.
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Old 04-24-2018, 07:28 AM   #15  
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Wow I would say you are overthinking the whole situation. You are enjoying your Corvette it is your DD drive it and enjoy it and stop counting pennies..
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Old 04-24-2018, 07:36 AM   #16  
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Amazing that people think you can not daily a corvette..

I've been doing it for decades and that was after having three cars ...to choose from.

I got rid of the leases and kept the corvette..

There is no problem using a corvette everyday..

Corvettes are built as daily drivers..

Sure I park a little further away but the walk is good for you...

That's the only difference...don't park just anywhere...just park a little further away...

I don't even notice I do that any more..it's just a habit at this point...

Most cuvs cost more than corvettes anyway...my corvettes in mint condition and I still consider it as a relatively inexpensive vehicle...

Why save it in a bubble...? When your done with it or get the urge not having a daily driver just makes it even easier to just buy a new one more often?

Plus you have the fun of using the corvette all the time...

Just a few months and you ll be easy with the idea of daily driving a corvette...

It's just a pretty sports car...

It's not the virgin mary

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Old 04-24-2018, 07:38 AM   #17  
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Toyota Tacoma, C7, BMW M3, Kawa GTR1400, Aprilia Sl1000r... And the wife has a Kia SUV... What do I know about value?

I need a truck for doing truck things.
I need the C7.. Because
I need the M3... well I've owned it for 23 years, and it's like a child.
I need the GTR to go to far away places on a bike
I need the Aprilia, because it's not worth anything to anyone other than me, but it's a damn fine bike..
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Old 04-24-2018, 07:44 AM   #18  
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Even though winters are mild in the Toronto area and we don't get massive snow storms, there is still a good portion of the winter where the roads aren't really Corvette friendly, so the need for a second car is definitely there for me. Not to mention the fact that between my wife and I we have three kids, so there are times when I need a car with more than two seats if my wife is out with her car somewhere.

Also, we've taken some road trips to places that I felt were not really safe to leave a Corvette parked such as Baltimore, Washington DC, Detroit and NYC. But I felt no concern leaving my 2006 Civic in those places.

I love driving my Corvette as much as possible but I also don't like getting it dirty, so if it's raining I see no point in driving it, I won't find it fun at all.
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Old 04-24-2018, 07:46 AM   #19  
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Having 3 kids transportation responsibility is all anyone needs to say...another vehicle is needed even if it's 3 days a week responsibility.

Oh I love seeing my corvette dirty...makes me laugh as I know so many people can't stand it...

I wash and quick wax my corvette once a week..which takes literally 12 minutes flat...the cars garaged and in mint condition...

Twice a year I hit it with an orbital polisher and some Adams products..

It's even black which is a ridiculous color to start with...

With more than one kid...a second car makes sense...

Without question...but using a corvette in every type of weather is easy to do otherwise...as GM builds these things to be used in any kind of weather with just making sure you have the right tires.

Last edited by JerriVette; 04-24-2018 at 07:50 AM.
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Old 04-24-2018, 10:00 AM   #20  
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I am closing in on 70k on my C6 DD Vette. My previous C5 made 160k miles before I sold it and that guy now has it up to 300k.

I average about 40 miles a day. My average mpg is around 24.5. Since mine isnít a GS my tires last longer. My current Firestoneís have 44k miles on them and should make another 10k miles. At 65k miles my original brakes were still good. I got a GMEPP thatís good till 2020 or 100k miles so repair costs will be near zero.

All told I find my Vettes to be fairly economical DDís. I do have a new Ram pick up but only use it in snow or when we go to the beach.

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