Here’s my current scenario. I did some more number crunching last night. I’m still playing with the notion that I’d like to keep the Mustang out of salt, versus having to start spending real money for real bodywork in 8 or 10 years. I’m assuming gasoline will still be around by then and won’t cost more than $10 a gallon in today’s money (I’m serious).
Last year I determined that insurance for two cars isn’t too bad for me. I could also manage registering and inspecting two cars if I paid attention to when April was coming up!
If I keep the Buick for winter driving (ideal), then not counting the above, it would cost about $100 a month extra give or take $10, for losing that part of a down payment by not trading it in. The more I spend on the Mustang, the more likely I might have to cut back on an option or two. But I would not have to spend money for extra wheels and snow tires for the Mustang which would save at least $1300 regardless of whether that was in the loan or direct out of pocket. And I know it would be at least $1300 and maybe as much as $1500 as I did a lot of research for that Mustang.
So that helps. As time goes on I refine the numbers more and more. In December I’ll call Allstate again to get the latest numbers for the scenarios I mentioned to them last time, which are the Mustang off the road for at least 4, maybe 5 months, and the Buick off the rest of the year. The other scenario is both cars’ insurance set up for year round driving, which I recall wasn’t a drastic difference as you still pay for vandalism, fire, any kind of loss and all that, plus I’m the sole driver, etc.
If I keep the Buick I’ll get the optional factory cover for the Mustang, and start it up every 3 weeks or whatever and roll the tires to a new position. I might possibly be able to get a set of those tire savers. Maybe you’ve seen those. You set the car down on them. They’re like one piece wheel chocks that are shaped like the tire so there are no flat spots. Or maybe best to put it on jack stands, I don’t know. But I know I don’t want the tires to sit on pavement for even as little as 4 months. Those tires and wheels are too high tech for that; it’s not a pickup truck with monster mudders.
At this point it’s a 25% chance I could keep the Buick. Then there’s the issue of where to park two cars. No sense in spending too much time thinking about this until December and I have a better idea how much money I’m gonna have.