Having a Car in Florida

Chuck,

We were wondering if you, or anyone you know have bought and registered a car to their house in Florida. We like the idea of buying a car and keeping it in safe storage to use when we go over.

Answer:

Generally, it doesn’t make financial sense to own a car.

Be sure to add up all the costs to purchase a car and insurance.
Consider the cost of a taxi or bus to get from the airport to your car every time you visit. Also remember that you’ll be forfeiting use of part of your garage and that your stored automobile could be subjected to damage by guests.

Now, take all those costs of ownership and compare them to the total amount you paid for car rentals last year while in Florida. Generally, renting makes much more sense.



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