The cost of owning a car that sits more than it drives
We moved to Louisville two months ago; it’s got great, walkable neighborhoods, and most of what we need is within about 10 blocks of our house, from cafes to the grocery store, the natural food store, the farmer’s market, the hardware store, the place where I get my hair cut.
Result: we’re driving our car less than 400 miles a month. Gas prices are high, but our consumption has dropped to one tank of gas a month.
This makes me feel pretty good, as far as my pocketbook and my eco-values are concerned. But when we’re driving that little, the total cost of car ownership (or leaser-ship, to coin a term) starts to look out-of-whack.
Monthly car-related costs:
- Lease: $263
- Lease downpayment: $61 ($2200 divided by 36 months)
- Insurance: $82
- Gas: $60 (@ $4/gallon)
- Subsidized parking at work: $35
Total: $501 a month to use a car that we drive less than 400 miles a month.
Getting into the minutiae of owning vs. leasing is beside the point. On a theoretical level, neither makes sense for someone driving less than 5,000 miles a year.
But life is complicated: I leave for work at 4:15am. Bus service doesn’t begin in my neighborhood until about 5am. I could walk to work in about 40 minutes, but I’m not excited about pushing back my wake-up time so I can get out the door at 3:50am.
Here’s a Wacky Plan: I could buy a monthly bus pass for $30 and use the bus to get home from work every day. And I could take a cab to work every morning for a little less than $15 a day. Total cost of Wacky Plan: $360 a month (assuming 22 working days a month).
Not sure what I’ll do about this, if anything. I have another year to figure it out.
Bicycle?
yep, that’s one of the options I’m considering.
My proposal:
1. Get rid of the car as soon as you can
2. Rent a car when you need it OR buy a cheap one (like Robert Paterson’s Echo/Yaris or maybe the new Smart car) and own it outright (no leasing!)
3. Buy a Segway to get to work. It’ll cut your 40-minute walk down to a 10-minute roll (or less).
I’ve actually looked into the Segway lately because I’m in the same situation, where I live close to work and necessary shopping, but still need a car occasionally and only buy one tank of gas per month.
The Segways are pricey, but use no gas. Others have suggested biking to me, but my beef there is that I don’t want to show up at work sweaty, nor do I want to deal with basically a second set of clothes for riding (that adds commute time because of the changing of clothes and such).
Just a thought!
Todd – I feel your frustration. The University I work for has negotiated a deal with the Cincinnati transit system to allow all of its students, faculty and staff to ride for free. Brilliant, right? I have an excellent connection and the schedule is reasonably convenient. Problem is, if I give up my campus parking pass (which I pay $75/month for) I may not be able to get it back should I decide to drive in during the colder months because there are long waiting lists. Parking Services refuses to re-consider their pay-structure, so it’s either 75/month for unlimited parking or… take your chances at the meter. Subsequently, since I’m stuck paying 75/month either way, I have little motivation to take the bus (I live ~5 miles from work so the gas savings aren’t enough of an incentive in light of the convenience I’d be giving up). This is frustrating, since I feel like there is an opportunity being missed here… and all the parties involved would benefit if this plan were implemented well.
On a bright note – I consider living within walking distance of everything a huge luxury, and I’m sure you do as well. Ann Arbor was supposedly soooo convenient, and yet I still found myself in the car for 30-40 minutes at a time, and often on the freeway. Maybe I was doing something wrong…
The Segways are pricey, but use no gas. Others have suggested biking to me, but my beef there is that I don't want to show up at work sweaty, nor do I want to deal with basically a second set of clothes for riding (that adds commute time because of the changing of clothes and such).
Hi Todd,
I also was in your situation, and although I was petrified, I took the big bite, and got rid of my car. I was so fearful at first, wondering how I would get to the hospital at 3:00am if something happened, and how I would survive without the 1:00am drives I used to take when I couldn't sleep….
Well, after one month's time without, I had a complete epiphany. I realized that I was alot less stressed out, since I didn't have to worry about people breaking into my car, and I didn't have to waste a couple hours per weekend washing the car, nor worry about taking it into get maintenance done. Not only that, I saved an extra $300/month because I wasn't buying as many frivolous things at the store (since it wouldn't be so easy taking them home).
Now, one and a half years later, I worry about the day I might have to go back to owning a car (i.e. if my work moves to a remote location). I'm very content and much less stressed without. I dont need to worry about my 1:00am drives, since I'm sleeping much better than ever! All I can say is not only better for the environment, but it's better for you too. I hope you find the courage to take the plunge and go car-free!
Best regards,
Get a used scooter. The convenience will more than pay for itself off. And join a car co op although the use of which is pricey compared to owning a used car, is comparable compared to owning a new car.
Yes, that's the price you have to pay for making our lives easy by those four-wheel thing. Then we need to look for a job that double our income. But cars are really a big help.
Yeah, there's a lot of solution to that problem and lots of people are doing those too. Try walking, bicycle and scooter. Additional savings and exercise too. Get rid of that car or just remove some of your activities. Just use the car for long drives and if it's really necessary if you really need to keep it.