It's part of the reason I haven't bought a car. I'm in my mid 20s and didn't get my license in high school because insurance would have been too expensive (my parents wanted me to pay for it).
I think driving is a good life skill so I got my license in my early 20s, but I still have zero desire to own a car.
That said, I live in Seattle, where there is good public transportation.
Here are my numbers:
Parking (I work downtown): $250/month * 12 months = $3000
Parking spot at my apartment complex, 5 miles from city center: $130/month * 12 months = $1560
Gas: $100/month * 12 months = $1200
Car registration fees in Seattle: ~$400/year
Insurance for a 25 year old in Seattle: ~$1500 (It might actually be higher?)
Maintenance: we'll say $1000
So the total cost for me would be ~$8660+ per year. And that's excluding the cost of the car!
With a 5 mile commute, public transit 3 days a week plus Uber/Lyft 4 days a week is cheaper, hands down. Uber/Lyft 7 days a week cuts it closer but is still cheaper.
So yeah, it depends on where you live.
I think driving is a good life skill so I got my license in my early 20s, but I still have zero desire to own a car.
That said, I live in Seattle, where there is good public transportation.
Here are my numbers:
Parking (I work downtown): $250/month * 12 months = $3000
Parking spot at my apartment complex, 5 miles from city center: $130/month * 12 months = $1560
Gas: $100/month * 12 months = $1200
Car registration fees in Seattle: ~$400/year
Insurance for a 25 year old in Seattle: ~$1500 (It might actually be higher?)
Maintenance: we'll say $1000
So the total cost for me would be ~$8660+ per year. And that's excluding the cost of the car!
With a 5 mile commute, public transit 3 days a week plus Uber/Lyft 4 days a week is cheaper, hands down. Uber/Lyft 7 days a week cuts it closer but is still cheaper.
So yeah, it depends on where you live.