• 3 Posts
  • 7 Comments
Joined 1 year ago
cake
Cake day: June 16th, 2023

help-circle







  • One thing I either missed or wasn’t stated is the daily cost of ownership. If you purchased on a loan, you have a monthly fee, which can be a daily fee. Then you have insurance and maintenance, but no one knows how much maintenance is, so we typically underestimate it. And even if your vehicle is paid off, you still have that flat cost, which you could compute to a daily rate for the current lifetime of ownership.

    For example, I had a car in the US that I paid $25k for after taxes and bogus upsells that I didn’t need. Then I had insurance, which was expensive where I lived. My monthly cost just to own it was ~$600/month for the note and insurance, not even including gas.

    So, your trip calculation then becomes the daily rate / # of trips, then you add on the other fees, so for a two leg trip, each leg would cost me $20 for that day plus maintenance, gas, parking.

    And that doesn’t account for how much parking raises costs elsewhere, as noted in the book, The High Cost of Free Parking by Donald Shoup: https://www.amazon.com/High-Cost-Free-Parking-Updated/dp/193236496X