> way less than the amortized cost of an actual car, but a $5k used vehicle pays for itself after 20 such trips.First of all, the days of getting a decent car for $5k in the US ended with the pandemic and the supply chain insanity. But even if you could do that, you also need to factor in:
* Gas
* Insurance
* Registration and taxes
* Maintenance
If you don't use a car as part of your commute or regular errands, it's likely cheaper to rent.
Honestly, the best compromise solution is usually to share a single car for a household. Not helpful if you're single, but if you have a partner, then you can usually get by fairly well with just one car and now your individual costs are cut in half.
Another way to balance the trade-offs is to own a car that's smaller and more cost efficient but doesn't cover all your needs. Then rent on the infrequent times when you're traveling, camping, bringing a bunch of kids to a party, hauling lumber, etc. and you need the extra storage or passenger space.
First of all, the days of getting a decent car for $5k in the US ended with the pandemic and the supply chain insanity. But even if you could do that, you also need to factor in:
* Gas
* Insurance
* Registration and taxes
* Maintenance
If you don't use a car as part of your commute or regular errands, it's likely cheaper to rent.
Honestly, the best compromise solution is usually to share a single car for a household. Not helpful if you're single, but if you have a partner, then you can usually get by fairly well with just one car and now your individual costs are cut in half.
Another way to balance the trade-offs is to own a car that's smaller and more cost efficient but doesn't cover all your needs. Then rent on the infrequent times when you're traveling, camping, bringing a bunch of kids to a party, hauling lumber, etc. and you need the extra storage or passenger space.