The short answer: It Depends!
(Updated 11/4/2017, and again in 6/10/2025.)
At various times in our marriage, we've had more cars than drivers.
Sometimes it's been a headache, and other times it's been a blessing.
Our extra cars back in 2007
Back in 2007, my wife and I had three cars between us.
Two of the cars had more than 160k miles each: a 1997 Oldsmobile Achieva and a 1997 Chrysler Town and Country.
The third one was a 2004 Toyota Corolla that we had just bought because the Achieva was starting to let us down.
We had about $1,000 in exhaust repairs on the Achieva at the time. These needed to get done because we hadn't bought the Corolla yet.
All three cars were running fine; my wife used the van and I commuted with the Corolla.
Our extra cars recently
I was gifted a 2009 Kia Rondo in 2021.
Our daughter was getting to be driving age. Word got around our church. A couple was looking to upgrade their vehicle, and gave their Rondo to us.
My daughter used the Corolla to get back and forth to school, and I used the Rondo to get to work.
At this point we didn't have more cars than vehicles.
When our daughter finished her first semester, we set her up with a more reliable vehicle.
At this point (December 2023) we now had three vehicles again: the Rondo, the Corolla (still!) and a 2005 Toyota Sienna that we had had since 2012.
An extra car is handy if you have a fender bender
My wife got into a minor fender bender in the 2000s decade. (No one was hurt, and as far as we know it wasn't even her fault.)
But the fender bender did knock the van out of alignment, so we took it into the garage to have it checked out and fixed.
It was nice to have that third vehicle ready to go in this circumstance. No need to borrow another vehicle, or “suffer” with just one vehicle between us, or rent a vehicle.
An extra car is handy while fixing another car
My in-laws needed to fix their Ford, which had run on hard times.
Because we had three cars, we had a spare to loan to them while they were working on getting the parts for theirs and doing the repairs.
It was nice to be able to do that for them.
Reasons not to carry an extra car
Back in 2007, it was an expensive proposition to carry an extra car.
In 2025, it's a bit easier for us. We don't have any car loans and the cars don't have any major problems. Given the current political climate, I'm just as happy not looking for replacements at the moment.
Here's a list of reasons why it can be a bad idea to carry the extra vehicle:
- The carrying costs can be expensive. Even with raising deductibles and taking collision off of the older cars, it's still an extra insurance payment. Add on registration, inspection, and other maintenance, and it can start to cost real money.
- You have to drive the car regularly to keep it in shape. A car just sitting around will deteriorate like anything else. The first time around, as much as I intended to keep the extra car active, I didn't, and we had to have someone buy the car as a junk vehicle. The second time around (2025) I'm better at switching the cars out, though.
- We could have gotten a loaner from our mechanic. We have given our mechanic a lot of business. A couple of times he let us borrow one of his vehicles if he had to keep our car more than one day. That was an option to take care of our one-car “problem” that didn't require us to have another car waiting in the wings.
- An accident is a fairly rare occurrence. The rareness of the occurrence is why insurance companies make so much money. If things were serious enough, we would have been covered for a vehicle rental. Carrying that extra car was unnecessary for 99% of the time.
- Legal help can be more important than a backup car. In serious situations, like car accident cases, the real challenges aren’t just about having a second vehicle on hand—they’re about handling medical bills, liability issues, and lost income. Insurance can cover a rental, but what you really need is good legal support to protect your rights and keep the costs from piling up. So, having trusted legal help lined up matters way more than owning an extra car.
- The extra car wasn't a toy. The one way that having an extra car might be justifiable is if it were a convertible or an otherwise collectible antique car. If that were the case, it would be garaged, protected, and loved. Not so with our third car. It was nothing more than insurance, and old, and smelly, and not even that pretty.
Smart alternatives to carrying an extra car
- See the writing on the wall and sell. We tend to absolutely, ruthlessly drive our cars into the ground. Like a person in their final months, a car on its last legs costs a lot of money, mainly in repairs of big pieces like alternators, starters, transmissions, and engines. Once we get a good ride out of a vehicle, we should sell it while it still has some use to someone else as a vehicle.
- Reduce the absolute need for a second vehicle. This is a longer, bigger change, but in 2010 we moved closer to where I work. My wife could drop me off at work and get back home in about ten minutes. That's not terribly inconvenient if we're without a second vehicle for a bit. We were a bit farther away from my work when we had three vehicles.
- Get more reliable cars. Hate to say it, but not holding your breath every time you start up a vehicle is a nice feeling and reduces the feeling of needing a backup vehicle. We don't want to look for new vehicles, but now (2025) our newest vehicle is the 2009 Rondo.
Photo by Michael Fousert on Unsplash
I wouldn't keep a third car in your case if one person can stand driving a minivan as an every-day driver. Get rid of the Achieva. The new corollas are great. Mid nineties oldses, not so much.
The next 1,000 dollar repair you might want to grt rid of the Achieva but if you really want three cars that's your choice.
It's not like it's three pricey cars with heavy payments.
We also have 3 cars (only 1 paid off), and it's great to have the third car when another is in the shop for whatever reason, or to reduce the mileage on your other vehicles. However, I agree it's an added expense that you need to justify with usage.
With our third car (a 10 year old grand am), we drive it maybe 4-6k miles per year, but it only costs us about $400 per year in maintenance and repairs and $30 a month in insurance.
Right now, I'm looking into selling my Ridgeline since it's $25,000 in debt we can dump easily. I can go buy a $10,000 truck if I need one and get one with low mileage and decent options.
For me it is worth it. I commute by motorcycle and my wife and I have 2 other vehicles. But when one of our vehicles breaks down we have the spare; no worries about getting a rental, and I can keep the broken vehicle in the garage for a week while I look for cheap parts. This allows me the time to find great deals, as well as the time to fix it at my leisure.
A spare vehicle can also be classified by your insurance company as a pleasure vehicle, which gives you a discount. If you don't drive it often (you should drive it on an errand twice a month to keep it running well), oil changes become minimal – I personally feel the 'monthly interval' oil changes are silly…oil doesn't lose its viscosity or get any dirtier just sitting there (imagine how long it sat on the shelf or in a warehouse before making it into your engine).
It doesn't work for everyone, but I find it a great convenience and money saver.
Good question. We have an extra vehicle too, and keep changing our minds about what to do about it. One of our three is "newer" ('02), while the other two cars are old ('93 and '94). Having a spare comes in handy, but we keep thinking we should get rid of one of the older pair. The problems is that each has its plusses and problems, so it's not clear which one should go… And so we don't do anything 🙂
It's funny, my husband and I were just discussing a movement in the opposite direction – that when our second car dies, we might not replace it. We've been carpooling to work most days, and while it's more convenient to have 2 cars, it might be worth the extra hassle to bring our costs down further. I am concerned about what we would do if the car needed repairs, however.
Based on your wife's driving history, maybe she should be driving a tank (ask her about the left turn out of the parking lot in Francis) instead of a mini-van. 😉
Thanks for the comments!
More people than I thought would keep the extra car. I do agree that the car is an added expense that has to be justified. I think I'd have a tough time convincing the insurance company that my beater is a pleasure vehicle, though.
Anitra: That's quite a step. That would really be tough for us given our driving habits and schedules, but it can be a big money-saver if you can work it out.
VirginiaGal: Ahhhh … you were in that little episode. BTW the mini-van is Kate, my new car is Cori, the Achieva is Will, and our other vehicles (no longer with us) were my Accord, Art, and our Nissan Quest, Bob. And a comment from my wife 😛
My wife and I only have one car. I don't know how we could pull off having another. We're barely getting by with just the one. Sharing a car not only has helped us save money, but it has also given us time to talk to each other as my wife drives me to and from school. So, it's been a boon to our relationship.
My wife and I also have three vehicles. They are all high mileage vehicles and are all paid off.
92 Isuzu Pickup truck – 175k miles
97 Maxima 140k miles
95 Camry V6 – 169k miles
The Isuzu is only worth about $1000 so we have dropped full coverage on it. The other two have full coverage, but $1000 deductibles.
There are times when the pickup comes in handy for hauling large items, towing bulldozers, moving furniture, picking up a pallet of sod, etc.. The list goes on. In addition, if one of the other vehicles breaks down, I can park it in the garage and take my time fixing it. If we only had two vehicles, it would be a hassle to take it to the repair shop.
I would keep the third vehicle as long as it isn't costing a lot in maintenance. Just make sure you drive it every once in a while. Old cars or trucks that sit in the driveway eventually start to have problems unless they are driven every once in a while.
If you have another large repair with the van or Achieva, I would sell it and buy an older model Toyota or Honda that are have less maintenance problems as they age.
I’m a single guy and I own two vehicles. I do my own repair work, so having two has treated me well.
I also live in Ohio where the weather can be anything from day to day and the salty roads in the winter make having a “nice car” problematic.
One is an ’03 Mustang Mach 1 and the other is a ’92 Ranger custom. They are on a rotating maintenance schedule. They are both prepared for their respective seasons. One is for dirty work and winter, the other is for everything else.
Both being from the same manufacturer helps because they share a common vernacular of design. With the help of the factory maintenance manuals and having time on my side, I can wait and hunt for parts or do larger jobs without pressure. The Mach is a little on the rare side, but the Ranger’s parts are cheep and readily available. The Mach isn’t the workhorse.
The additional cost of insurance, storage, parts, registration, and tools can add up quickly. Two cars= two times the problems. The advantage comes with the longevity of properly maintained vehicles and I get to have fun working on the cars myself. I save on labor big time. Far less than the cost of buying new cars all the time. This is not a good idea for super busy people. Having a family and a fleet of cars isn’t wise.
I simply like my cars. I’d like to keep them on the road for a long time.
Thanks Shawn for your comment!
Nothing at all wrong with enjoying your cars; it sounds like you do!
When I had the extra car, it was simply a barely functional backup and nothing special at all. A bit different story than yours, of course.
Best to you!
I have two cars (17 Highlander/17 CRV), both run well but it’s difficult finding a good used car. It took me 6 months to fined the CRV and it ended up having issues but covered under warranty. My daughter will need a car in two years when she graduates from college. She gets the CRV, 56k miles now, but really want to keep the miles low so she can not worry about it once she gets it. My insurance agent has said they have clients that had accidents and it’s taken months to get body parts and rental cars cost a lot. So look at 2010 Lexus RX350. They are built like tanks and one of the safest cars made. 116k miles, 5900 dollars which is fairly priced. Mechanic looking at it. My thought is to limit crv use to very little and drive the Lexus. Wife drives the Highlander. So buy the Lexus and park Honda? Or just wait another year to look for car? Insurance is 1000 per year on Lexus from Progressive. State Farm wanted 4k per year.
I’m experimenting with having no car, even though there is zero zip nada public transportation in my town of 83K people. I moved into a new cohousing (aka intentional neighborhood) community, and most of my neighbor-friends invite me along when they run errands. They also travel a lot, for weeks and even months at a time…and I have my own non-owner insurance (so that any accident claims don’t go through theirs). I’ve only been here 3 months, but one of my neighbors offered me her car for the 6 weeks she was away. I’m not a mooch – she declined my offer to cover her insurance bill, so I mowed her front lawn, brought in the mail, and put a few things in her fridge for her late-night return. I still hope to find more ways to reciprocate in some way.
My mother is 75 and of limited mobility thanks to a muscle issue on her hip-butt and breaking her shoulder last year. I suspect her accelerating cognitive decline (mostly due to hearing loss she won’t deal with) means she will only be driving another 2-3 years, at which point I get her 2019 CRV with very low mileage. I’d rather be wrong though, and deal with car usage another way for another decade.
This is a long way of saying that having so many cars strikes me as a very inefficient use of resources – both in terms of releasing an affordable used car into the wild, and the money you’re spending on insurance, registration, maintenance and repairs. Rental car coverage as part of your insurance doesn’t cost anywhere near that. Know what would suit your situation? An e-bike. Short commute or local errands – the range is just right for this option. No transmission to remanufacture, no registration or insurance to deal with…just a low-effort, low cost way to plug that gap in your car needs currently served by an extra whole car.
The e-bike idea is interesting! It looks like you’re correct about the licensing on it, at least in my state.
For a number of reasons, I’d probably be taking my life into my own hands more than if I drove one of those old cars though 😀
I probably should run the numbers on replacing the two cars with an affordable but newer car. A 2013 Corolla only runs about $13k from Carmax. That’s less than I expected.