Used cars cost roughly what new cars cost still, interest rates are higher than ever - insurance, gas, maintenance, car payments, parking, tickets, tolls, regis

Used cars cost roughly what new cars cost still, interest rates are higher than ever - insurance, gas, maintenance, car payments, parking, tickets, tolls, registration, license, etc, etc, it adds up really fast. Since it's so diffuse people aren't as sensitive. Not to mention with a used car w/o warranty you're on the hook for the whole cost if something goes wrong. Of course there will be outliers, but owning a car is a massive money sinkhole and a disproportionate burden on the poor. The average car insurance payment alone is $136 (and significantly more for those with 'bad credit' - i.e. the poor). Gas is another $150-200 per month. That's almost $4000 per year right there. The average monthly transit pass in the US is $83. [1, 2] [1] https://www.statista.com/statistics/990891/us-average-monthly-passes-in-transit-mode-transport/ https://www.statista.com/statistics/990891/us-average-monthl... [2] https://www.nerdwallet.com/article/insurance/how-much-is-car-insurance https://www.nerdwallet.com/article/insurance/how-much-is-car...