You really have no idea what you’re talking about, for this is spoken like someone still of college age. Forget shortsighted. Sure it may be one thing if you’re adept with auto mechanics, but most people frankly are not.

You do realize there is an inflection-point in both cost and reliability (forgetting newer safety and fuel standards) when owning used vehicles…riiiighhht?

The car we have is fine at the moment, but it we expect it will eventually need some costly repairs in the next ~3 years (exhaust? suspension?, etc.) as it gets older. The second car would be because We’re a large family and support another family. We recently hit a deer and it was very inconvenient while we waited for a repair. A second car would go a long way.

Driving a car into the ground is rarely the best financial move or the best approach from a risk perspective.

As cars age, the likelihood of unexpected failure goes up and the cost of repairs goes up. Unless you like missing work, or having unexpected $5,000 bills on a $3,000 car, it’s good to replace your car before it becomes a high risk.

This is the same thing as Terry Pratchett’s boots theory. Poor people are forced to spend more to cycle through shitty cars while people with some money can buy decent cars which will cost them less in the long run.

I personally sell my cars before they hit the 10-year mark. At that point resale prices plummet. And I buy used ones around the 5-year mark, as that’s another price sweet spot. But of course, ymmv.