What do most financial advisors say when it comes to owning 2 vehicles? I have a truck that is worth $9000 and a beater car worth $5000 both paid off. Both have a good track record of running good. Reason why I own 2 vehicles is just incase one breaks down I won't have to deal with rental cars. I had my car in the shop for 9 months at one point getting the transmission replaced so having 2 vehicles came in handy here. Neither one is a luxury vehicle and the car is great on gas. The truck aint bad on gas either but I mainly got the truck to haul stuff as well. I know vehicles are depreciable assets but I never see any of the popular advisors on youtube discuss having 2 vehicles. I have about $6,000 in credit card debt and that's it which I keep on 0% apr cards until the debt is gone. I have the cash to pay that off now but i prefer to keep cash in my money market account incase of future emergencies.
So what is the question? Can you own 2 vehicles? If so you just answered your own question.
My question was is it financially sound to own 2 vehicles or is it better to just own one?
If you're asking about it being financially ideal, then no, probably not. You're 'losing' some money paying insurance and maintenance etc on two vehicles vs one. But you clearly have a good reason to have two based on some personal experience. So you have to place some amount of non-monetary value on that.
You could technically sell one and pay off all your credit card debt, but seem to have a good plan in progress for taking care of that in due time.
Really, I don't think you need to change anything.
I've owned two or more vehicles several times. Honestly, owning (free and clear) and insuring two older vehicles to cover your bases can be significantly less expensive compared to owning a new(ish) vehicle and making payments on it.
As for what the various pundits say about this type of plan, one shouldn't give a rat's hind parts what they say, they aren't you, so do what works best for you. 
I think most financial experts would agree that buying a used car is better financially than buying new. If you can buy them with cash, even better. Keep them in working order and drive them as long as you can before getting another one. I don't think it matters that you have two. You're just extending the life of them both because you are putting half the miles on each one. The only downside is having to carry insurance on both. Unless you have two drivers of course.
I have 3 cars and mrs. p has one. Am I losing money by having 3 when I can only be driving one at a time? Probably. But I have my reasons (one is a daily/beater, one is a luxurious sports sedan that I enjoy modifying, and one has nostalgic value to me). You are allowed to own things that you enjoy in life, even if they are 'redundant'. If we asked ourselves if we'd have more money if we didn't buy (or keep) items x, y, and z, then we'd never own anything other than a small shelter, one vehicle, 5 outfits, rice and beans, 1 TV, etc. You are allowed to have 'extra' things in life. Enjoy your two vehicles! 
But do pay off that CC debt before it starts incurring interest!
But do pay off that CC debt before it starts incurring interest!
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@Horseshoez wrote:I've owned two or more vehicles several times. Honestly, owning (free and clear) and insuring two older vehicles to cover your bases can be significantly less expensive compared to owning a new(ish) vehicle and making payments on it.
As for what the various pundits say about this type of plan, one shouldn't give a rat's hind parts what they say, they aren't you, so do what works best for you.
^^^^ This
I have 5 cars and 2 trucks.
Need that sports, off-road, lux, grocery, sunday, and truck for horses and camping.
Two does not even count. 
