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The linked article clearly states that number only applies to new car ownership. For reference, I have a 20 year old vehicle which I own outright, runs great, a
by waterheater 6y ago
The linked article clearly states that number only applies to new car ownership. For reference, I have a 20 year old vehicle which I own outright, runs great, and drive maybe 6k miles a year. I usually bike and/or walk to work (or did, before COVID.)
Buy a used car and do your due diligence before purchasing.
Not sure what state they're using for license, tax, and registration. I pay less than $100 a year for that.
Maintenance is about right and can be lower, especially if you don't buy junk.
My insurance is lower than that, but that's a perk of my state.
I fill up maybe once every three weeks, so my fuel usage is way lower than that.
It'll probably go to the scrap yard once I'm done, and this thing was worth around maybe $3k when I bought it some years ago.
All in all, I'm sitting somewhere around $2000 a year for my car. Totally worth having.
Just be smart about it. Cars are very useful to have.
- emiliobumachar 6y agoYou listed a lot of ways to pay in time and energy instead of cash. (Disclaimer: I own a car)
- pc86 6y agoThe only thing I see in the list that takes time is doing due diligence when buying a used car, which isn't really a reason not to buy a car. You should be doing a little research for any $10k+ purchase, I would think.