With Charlotte in Seattle, I’m tightening up my expenditures and dumping my car & garage. It’s startling how expensive my car is… $7320 per year! Of course, I need a car to get around, I can’t just say something like, “food is too expensive, I’m not going to eat any more.” So I’m getting a Zip Car membership.
car costs per month
$200 garage – it also doubles as storage, now squished into the apartment
$90 insurance – $1,000/year
$120 gas – 10,000 miles/year, $4/gallon, 27MPG
$120 depreciation – $20,000 new in Sept 1998, worth $1,000 now, that’s 13 years
$50 maintenance – car repairs, oil
$610/month… $7320 per year!
Zip Car by comparison
if I don’t change my driving habits:
10,000 miles/year if driven at an average speed of 20MPH is 500 hours. * $9/hour = $4,500/year If I drive less:
6,000 miles/year = $2,700/year
Update 1-26-12: the above isn’t correct because it doesn’t account for the hours and days that a car sits. With Zipcar I am paying whether the car is moving or not. So I’m not sure what Zipcar really costs.
I can rent a truck or a Mini Cooper when need be, it’s always clean, it’s always new, never any fuss, and it’s parked directly across the street. Ask me again in 6 months if I still love it.
How much does your car cost?