Because cars are usually a significant investment, many drivers do their best to keep their mileage down to retain the car's value. With a beater, you'll never have to worry! ... Not only can you use it to keep mileage off of your nicer car(s), you won't have to stress about taking the scenic route every now and then.
If you want your vehicles to last longer, experience less wear and tear, and cost less to keep, a second vehicle could be a solution. You can expect both vehicles to last longer and perform better overall without having to worry about buying a replacement car sooner.
If it is a relatively newer car you will definitely do better selling it privately. If it's an old junker of low value and you don't want to deal with the hassle of a private sell, then you sell it to CarMax.
Beater car definition: an old or high-mileage – or both old and high-mileage – car that is still fully functional and legal to drive on the road, and that is so darn cheap to purchase, you can pay for it in cash.
If you don't want to have a monthly car payment to worry about, buying a beater car is the logical choice. Beyond improving your financial situation, driving a beater gives you peace of mind. Dents and dings are no big deal, and if the car has a problem that's not worth fixing, you can buy a new beater.
The longer lifespan has been made possible by more reliable mechanical parts. As the parts have lasted longer and worked more efficiently, cars have needed less maintenance over the years. According to the automotive research firm and car search engine iSeeCars.com, a new car is kept on average for 8.4 years.
So when might it make sense to buy a second car for commuting? If your commute is longer, for one: with a 60-mile round trip (and certainly a 100-mile commute), the savings start to materialize. The other scenario in which buying a commuting car would make sense is if gas prices hit $10.
Owning 2 cars is pretty expensive though, so make sure they're both pretty reliable. Costs are doubled for everything, 2 sets of tires, double oil changes, insurance, etc.. ... Insurance gives me a discount since both cars get half the mileage now, but it definitely is still more than I'd usually pay.
Separate car insurance policies
In some cases, it's cheaper to insure your second car separately. So it's always worth checking single-car quotes to see if they're better value for money. Many insurance providers will still offer discounts on the second car, even with two separate policies.
Beaters go for the cars with the best reliability track records and the best cheap parts. Look for the depreciation sweet spot. The very best time to buy a beater is when it has fully depreciated but there's still plenty of life left in it. It will never go further down in value no matter how long you drive it.
If the charity sells your car sells for $500 or less, you can deduct $500 or your car's fair market value, whichever is less. For example, if your car is valued at $650 but sells for $350, you can deduct $500. Most charities will report the sales price of your car to you on Form 1098-C.
6 ways to get rid of an old car
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