We are looking at buying a second vehicle. We live in Saskatchewan, Canada.
We have 3 dependent children at home-ages 17(6 foot 1 teenager) 11 year old boy and a 7 year old boy that would be ferried around in our current vehicle. I am a homeschooling Mom with many homeschool activities that I bring the children to. I have plans to build a cabin in the next year or two with land that we have purchased and paid for. We also are planning a trip to either British Columbia or Ontario in 2013.
My husband uses our main vehicle (1998 Camry LE, 276K) for travelling to work. He commutes 166km round trip per day about 10-12 times per month. It is a contract position that pays very well-can clear $700 per day. He also gets paid $86 per day for gas mileage. We currently have a second vehicle, 1994 Mazda Van (225K) needs a new motor at the cost of about $2600CAD and burns oil which makes us uncomfortable with the environmental consciousness. We could still drive it for awhile now but it doesn`t feel right to. Any options on this issueÉ
We have thought about not fixing the Mazda van and buying a second vehicle that would be more economical to run for my husband to drive back and forth to worth rather than the Camry and I would keep the Camry to run around in the city with.
We have rewiewed the article posted on the website regarding purchasing economical cars.
We value any comments and advice here please!
Also, we are pretty close to FI-my dh is 57 though-have over 980 K invested with no debt. Our expenses can be high at times probably averaging 4500-5000 per month in the last 12 years(have been tracking this long). Goal is to get this to 4000 per month now that older two are more independent(have 5 children total).
Look very forward to your Mustachian Responses!
Sincerely,
Pachipres