2 ms·
I'm in a similar boat. I drive my car a few times a month, so I made a spreadsheet calculating the cost of car ownership, and it was ~$1600 per year including i
by xur17 7y ago
I'm in a similar boat. I drive my car a few times a month, so I made a spreadsheet calculating the cost of car ownership, and it was ~$1600 per year including insurance, depreciation, regular repairs, car registration, investment losses, etc (a fairly large portion of the cost is the "opportunity cost" of having funds locked up in a car vs investments). For the number of trips I take Uber ended up costing me about the same, but I lose a fair amount of flexibility in the process.
Based on this I went without a car for about a year and used ride sharing services exclusively, but I found it to be more hassle for very minimal savings. (Some of the variables obviously depend on where you live though. ex: parking)
The fact of the matter is that owning a used car that's 5-10 years old actually isn't that expensive. I purchased my current car for $8k when it was ~6 years old, and did the same for the car before that. Repairs have been basically non-existent, just the normal oil change every year or two (I drive a few times a month).