JimSouCal wrote:Insurance and registration adds mightily to the cost owning any second car...
And also depreciation, along with in general rising prices for vehicles.
Long ago I bought a 1985 Honda Rebel 250, with less than 1000 miles on it, for less than $800. I rode it for almost 20 years, pushing 100K miles with it. Only maintenance was oil changes, new tires, set the valves, and replace the chain/sprockets, and the spark plugs. I could do everything myself. It had the original clutch.
The air cooled engine was never apart. In the beginning I could get over 100 mpg, towards the end it was in the low 50s, so it was needing a bit of care. I'll have to look, but I think I sold it for $400. So $400 for almost 20 years and almost 100K miles of driving.
(And no, no wife on the back "seat" of the Rebel. Anybody who has rode on the back "seat" of the Rebel will know what I mean.)
That motorcycle saved thousands and thousands of dollars, and to an extent was a key aspect of getting ahead when I was MUCH younger.
I worked at a lab, and the new girl came to me and said she wanted to save up, as she had heard I was doing. I told her, look at everybody here, what is the first thing they do? They buy a new car. So a few weeks later she drove up to the lab, in a new car. Another guy one time proudly announced that his credit card debt had dipped under $1K. I'm thinking, at 20% to 30% interest, you'll never get ahead.