My wife and I bought a 2010 Subaru Forester brand new in September 2010. I bought an extended warranty, bumper to bumper for 7 years or 70k miles. Since this is our second car and my wife uses the bus or we car pool together it was not going to see a ton of miles so this made a great deal of sense. The car has just over 20k on it now and it is a little over 2 years old. So far the car has been very cheap to maintain, insure and has, in general, been hassle free. We are paying on it monthly and should be finished with it in about twenty four months.
Our other car, a 2000 BMW 3-series, I bought with cash and never had a payment on it. I would say it was reasonable to insure but it needed consistant maintanence. With my wife's job changing location so that we could commute together I took a closer look at our necessity for two vehicles in the next year. At the end of October I decided to sell the BMW. After looking at all the numbers I realized I was forking out, on average, $475 a month for a car that I didn't have a loan on. I was a little astounded it was that high. That amount of money made the decision very easy.
I don't plan on being without a second car for too long. I would like to get a second one before summer but I am really enjoying the added savings that we found in the time being.
How much is your car costing you? Is it worth it?
