I’ve always been the opinion of having a very cost efficient, reliable, DD. Truck, sports or performance car, or luxury vehicle, doesn’t make a good daily. They cost too much and doesn’t make sense to me to drive those on a daily basis to commute in or go get groceries, IE necessity driving. DD something inexpensive and if going to own truck, performance car, luxury car, save it for the weekends or as needed. Then your expensive vehicles will last 3X, 4X, or more longer, comparatively. And insurance gets inexpensive the older the vehicle is. The daily I’d want a warranty on since it’s the most used. I typically get the longest warranty I can possibly get on a DD through the manu that made it. Not afraid to run out of warranty either and keep driving it. Just to hedge my bets. My other vehicles, since they are used on a daily basis, fuck the warranty. I make sure anything I buy is going to have a solid drivetrain and powertrain so if I have doubts about reliability, it won’t get purchased.

I’d say replace the daily driver. At 350k on the ODO it has done its job.

We drive older well maintained vehicles. Because they are machines and machines can break even regularly maintained, we keep a third vehicle. When we had young drivers at home, they would drive the third unless we needed it. This rotation worked for us

My opinion is if you have the means, you should have at least one vehicle that is fairly new. That’s the one my wife drives. I’m good with an older truck as long as everything is up to date. I really don’t see anything wrong with keeping your current daily driver as a spare if it’s not a burden to insure and register.

I'm single. I have 1 currently functional vehicle. I'm making payments on it solely to build credit, but the rate sucks so im paying as quickly as I can. I did ride my last vehicle until the frame rotted and was forced to buy something not exactly what I wanted because of needing it now...

If I was driving 20 year old cars again, I would likely have a spare as my experience has proven the necessity.

Upon retirement, I purchased a 2023 MINI Clubman S. This has replaced the daily driver 2013 GMC 3/4 ton monster...which has 195K now.

My life stage is different than many. But, I am likely to focus on my operational needs, and not my aspirational hopes. I don't need, apparently, the chance that I can tow the rented RV, or the borrowed 16' lawn utility trailer. Yes, these occasional events can make me smile, driving the old truck around. But, operationally, all I need is the MINI. Even my 7' fishing rods and my golf bag fit in the MINI.

My encouragement is to think honestly about operational needs. With that defined, purchase the vehicle that brings you the most joy. IF that is a MINI, super. If it is a BMW M-series X5 SUV, so be it. Use the chosen joy-producing vehicle, don't keep it on a pedestal for special occasions.

By the way, I spend $9 per day ($3,124 per year) on truck maintenance, and $1200 per year in taxes and insurance. I'm thinking -- what else can I do with $4K per year? Vacation, new camera, etc. Remember these costs in your analysis.

If you have the space to park, drive the 350K vehicle into the ground. When the next major maintenance item comes up, drive it to the Dealer or junkyard. Insurance is a non-factor - you're not going to carry collision on it and liability for a 3rd vehicle is typically negligible for a 2-driver family.

Similar to other posters in this thread, I myself would only keep a 3rd vehicle (2 drivers) if it was my "fun" mobile.

I'm a new car guy so I would favor replacing the 350K miler with something much newer, unless you have some sentimental reasons for keeping it, in which case I'd update one of the 10 year old vehicles.

I guess it comes down to your needs and if the 20 year old vehicle is reliable enough to keep as the DD then by all means keep it going.

I've bought 21 new cars since 84, so I average about every 2 or 3 years or so getting something new. Right now my oldest vehicle is my Harley, a 2000. Oldest car is the wife's 2017 RX350 with 112K miles. It will be the next to be replaced most likely.

We've often had 3 cars and a motorcycle or two for the past 40+ years, and had 4 when both kids were driving and still in college. Kid's are out of the house but we are back to having 4 cars again as my daughter went overseas for grad school so I "bought" hers. That turned into at least 2 years abroad so I have more cars than I'd like but don't want to sell hers as it is a 2023 with only 24K miles on it and should be perfect for her when she gets back in the states.

I realize that buying new isn't the most financially efficient way to own a car, especially if you turn them over as often as I do, but as I said I like newer cars and the cost is within my means. So it works for me. That said, I normally pay cash - my last car loans (other than a .9% special on a 2010 Acura TSX and my current 0% on my 2022 F150) were in 1989 - so I'm not breaking the bank. I either keep them long term or sell them after about 4 years when the value starts to decline more rapidly and the warranty has expired.

Not for everybody, but that's my take on it. My 4th vehicle is a 2024 Mustang GT convertible that is strictly for fun trips out in the country when the weather is perfect.

Two is plenty for my wife and I, but know that we are retired.

Just did this with a 20+ year old F150, it was time for a lot of things to be maintained that are expensive IE more than the truck was worth.

Still ran but the Timing Chain on the 5.4 was on the short list and it's a huge job, Transmission was in need of rebuild but the kicker was rust on the roof that wasn't repaired properly by a body shop. Still got $5K in trade value so, new EQEV it is...

Down the road a used Cybertruck, GMC EV or Silverado EV, or Tesla Y will probably be on the short list.

We have 3, but it's 2 dailies & a toy [which is frequently broken, 50 year old grumpy Brit]

My wife has an Expedition Max for kid hauling & trips
I had a Fiesta ST until a teenager ran a light & totaled it.
Just replaced with a Subaru Legacy. Comfortable, and almost 30mpg. AWD a perk I guess, but it's Houston, rarely needed.
The toy is a 1975 MG Midget, that has yet to make a successful round trip journey, without an issue, since I bought it

Will have a 3rd driver next year, so the fleet will grow by 1 at some point.
And have given some thought to adding a bike back to the mix.

My wife and have three vehicles. She has a new 2025 Altima, I have a 2011 Explorer with only 140k and a 2010 Fusion my mom can no longer drive. That Fusion only had 36k miles on it when I got it and it’s my beater car for work. I’m in Austin daily and love my setup.

Wife has her car,
I have a company car, (I own the company) and a Tundra, and a shop van, and my old shop van

the company car is a RAV4. and is my daily
the shop van a 2023 T-250 used for buys and gunshows,

my tundra and the old shop van have not been driven in few months, so will likely need to charge the battery and drive it to the dump, for a run

the van, need to sell, not really needed,

Was in the automobile business for about ten years, earlier in my life.
I've always purchased carefully selected 3-5 year old cars and driven them until they were 70-80% used up. I keep them clean and well maintained. In other words, they didn't cost me to dispose of them and I actually got a little money from them.
During that time, I used the extra funds to pay off my (originally) 30 year mortgage in about ten.
Today, when it's not uncommon tho see many vehicles near or over $100 grand, I check out the drivers or the homes where they sit in the driveway, and shake my head.
I still own using the same principals.

I thought I really didn't need an extra vehicle. The other two work great and fulfill all of my needs...

Now when I found something that sits really low and has a V-10...

Three cars now for several years.

I keep vehicles a long time, I also do my own work on them, which I frankly find therapeutic, so doing regular maintenance is not a chore. I also like projects, again, its as much therapy for me as something that needs doing, so last year I added a 1986 F150 to the fleet, non-running at the time but has actually turned into a reliable enough vehicle that I’m currently in the process of pulling the transmission to rebuild it. Honestly, the truck is my toy, but it’s functional (after a few months of figuring out where all the mice had eaten the wiring) and a completely different experience driving around town. Aside from the truck, which lives outside, my daily is a 2017 Expedition, my wife drives a 2015 Highlander, and I have a 2006 BMW Z4M Roadster which is the sports car I can never see myself getting rid of. I am religious about regular maintenance, and I expect these vehicles to continue to provide reliable service for another decade. Given that I can (and will) do all the basic maintenance for these vehicles, I don’t see the benefit of purchasing anything else currently.