Car ownership is now a luxury

[Anonymous]

Anonymous wrote:It is an insane expense for a depreciating asset. That’s why I drove an old crappy corrolla. Try to keep costs low as possible. If you want wheels if you can manage to keep the annualized cost incl insurance to around 100/mo on average that’s a “good” deal. So if you want wheels - 100/mo minimum and that’s driving some old pos

I have a 19 year old honda and insurance is only $400 a year (Maryland). Maintenance probably another $250/year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is an insane expense for a depreciating asset. That’s why I drove an old crappy corrolla. Try to keep costs low as possible. If you want wheels if you can manage to keep the annualized cost incl insurance to around 100/mo on average that’s a “good” deal. So if you want wheels - 100/mo minimum and that’s driving some old pos

I have a 19 year old honda and insurance is only $400 a year (Maryland). Maintenance probably another $250/year.

How much do you drive? Seems like you aren't factoring in new tires, brakes, battery, etc. that likely had to be replaced several times, assuming you drive say 1000 miles per month. However, if you only drive 5,000 miles a year...probably a different story.

[Anonymous]

Too bad Trump and the Republicans will not allow Chinese cars to be sold in the US. They cost 1/2 of what an American car cost.

[Anonymous]

Anonymous wrote:Too bad Trump and the Republicans will not allow Chinese cars to be sold in the US. They cost 1/2 of what an American car cost.

1/2...seems like 1/4th. You can buy an incredible electric car with like 300 miles+ range for like $12k.

China is just eating our lunch now in so many areas...electric cars, drones, solar, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wouldn't be shocked that if one really did the math of owning a car vs. taking reasonable public transport/ubers/zip cars/Turo...that car ownership would lose for many/most people.

The issue is that rural areas are not well served by any of the alternatives above.

+1

We have three kids and no car, and it's a delight. We rent a car probably 3-4 times a year for 4-10 days (vacations, mostly), and then we have a zipcar membership, and we probably rent a zip car a month. And we probably take an average of... 5? Round trip cab/uber rides a month. We both have a pre-tax employer match on our SmarTrip money, so that cost is almost nothing. We pay an absolute fraction of the costs of most people on transportation. That's less than $5k a year total for a family of five. Unbeatable. Plus never worrying about repairs, parking, saving for a new car... when we first went car free we thought it'd be a headache worth the savings but it's actually also a headache saver. And we walk a ton, which is fabulous exercise - good for mental and physical health. It's really been such an awesome switch (and we sold the last car before the birth of the first kid).

And we're not poor either - HHI roughly $250k.

That sounds great!

But this only works if you live in a city, not suburbs or somewhere with amazing public transportation and you can easily walk to it.

[Anonymous]

Anonymous wrote:Too bad Trump and the Republicans will not allow Chinese cars to be sold in the US. They cost 1/2 of what an American car cost.

No on Chinese cars. We are likely in a shooting war with them in the next 10 years.

[Anonymous]

Car prices are even more insane when you consider that most people are driving SUVs and trucks, which are generally more expensive than sedans. Like most things in capitalism, auto companies want Americans to buy more and more expensive cars and get in debt and be chained to your job so they can have increased profits. It's especially outrageous when you realize most families have two cars.

[Anonymous]

Skip paying the insurance and registration if you have to. Cannot really skip gas and such.

[Anonymous]

What is worse in my opinion is the normalization of $500+/month car payment. I don't care how much you make a month, $500/month just for the car note is wild.

[Anonymous]

Anonymous wrote:What is worse in my opinion is the normalization of $500+/month car payment. I don't care how much you make a month, $500/month just for the car note is wild.

Not nearly as wild as $1000/mo car insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I cycle to work. It’s free, except for a few dollars on oil for the chain and occasional tune-ups. And it’s free exercise too.

Just stay out of my way.

No, I have as much right to be on the road as you.

[Anonymous]

Anonymous wrote:My perspective on cars has changed. I always thought that when I got older, I’d get an expensive luxury car. Now that I’m older, and can afford it, I no longer want that. I really just want a solid reliable car with maybe a little creature comfort (leather seats and warmers).

+1

My car is pretty beat up. I can afford a much nicer one, but it runs. I’m kind of a goblin when it comes to cars, anyway. The interior always looks like a hellscape.

[Anonymous]

Anonymous wrote:It is an insane expense for a depreciating asset. That’s why I drove an old crappy corrolla. Try to keep costs low as possible. If you want wheels if you can manage to keep the annualized cost incl insurance to around 100/mo on average that’s a “good” deal. So if you want wheels - 100/mo minimum and that’s driving some old pos

+1

I drive Toyotas because they last. They are rarely in the shop. I have one that is eighteen years old. Saves a ton of money.

[Anonymous]

How is the payment so low?!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Too bad Trump and the Republicans will not allow Chinese cars to be sold in the US. They cost 1/2 of what an American car cost.

No on Chinese cars. We are likely in a shooting war with them in the next 10 years.

Our robots will be shooting their robots.