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one new car or two older cars
I have $27K to spend on purchasing a car(s). I can purchase one new. Or purchase two older cars. I am need help deciding between spending $27k for a new Honda Accord. Or spend the $27k purchasing two cars. ($14K) used 2007 Honda and ($13k) used 2000 Corvette.
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The question I have is why you think you need two cars unless you are married and are considering getting one for the wife. If you have an older car and it is still working, then get the newer one and you'd still have two cars. Keep in mind insurance and tabs and all are more expensive on new car s. If you got two older cars, especially when in the 10 to 20 yrs old range, there will always be something breaking down that needs replacement. Depending on the mileage, an engine will only go so far, even with good care before it will no longer work and then you face the cost of a rebuit or brand new engine. We put a rebuilt into our car at the cost of 6 grand and that is aubstantial amount of money to come up with. THese are the things you need to consider in whether buying one new or two older. Also, depending on the daily mileage you need to put on car to get to and from work plus other driving, if a big amount of miles, those rack up quickly on a car and are not good news if being put on a car 10 to 20 yrs old.
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