How Many Cars Should One Person Own?

​Car ownership is a rite of passage; it seems everyone wants to own a car of their own someday. Many aspire to have more than one car. But then we need to be practical when it comes to cars. We’d love to have one car for every driver in the family. But the truth is we probably should only have one car assuming we should even have one.

​When Is It Okay to Have Many Cars?
The answer is when you are rich, of course! Kidding aside, the family must first have the income to make multiple car payments before it can even think of trying to acquire a second vehicle.
 
On the practical side of things, more than one car is only justified if the people in the family have to go separate routes or if there is no smart way to divide the use of the family car during the day. For example, if the mother is a medical sales representative she needs her car for traveling to the various doctors as she does her rounds. If the husband is also doing a job that requires him on the field a lot, then that family needs a second car.
 
Or maybe the family has both parents traveling a lot, and the children need a service vehicle. Perhaps the eldest child is old enough to drive so he should get his beater.
 
When Is It Okay to Have One Car?
Again, you should when it is needed and affordable. Some occupations need a car. Sometimes we live so far from our place of work that a car is a necessity. Another important consideration for a family that wants to have even just one car is that they need to have parking like a garage or some form of a place to put the car.
 
When Is It Not a Good Idea To Own a Vehicle?
A car is an expensive investment and a long-term drain on a family’s finances. Unless there are no other feasible alternatives, it should not be considered. Uber, Lyft, or even carpool are good options. Even the bus or train might be a better idea than committing to buying a car and the expenses the comes with it.
 
After all, with all the other household expenses the average person has to deal with a monthly car payment might be the straw that breaks the camel’s back.
 
Speaking of broken backs, if you do decide to get a car to remember that compulsory insurance only covers so much. Additional insurance might be good for you. At AVA Insurance & Auto Tags​, we aim to make our client's life easier with policies that are tailored to their needs. You can get more information about our products and services by calling our agency at (954) 454-5483. Get your free quote today by CLICKING HERE.