When I last had a personal car, TCO was over 900USD per month (auto financing, parking, insurance).
Since I live in an urban area well served by subways, buses, taxis, Zipcar, and Uber, letting go of that high fixed monthly expense in favor of an a-la-carte approach has been a great financial benefit for me.
Of course, if I had two kids, lived in remote suburbs, or had to commute to suburbs, the equation would be very different.
But for now, for me and many other urban dwellers, the value of owning my own car just doesn't compute.
Since I live in an urban area well served by subways, buses, taxis, Zipcar, and Uber, letting go of that high fixed monthly expense in favor of an a-la-carte approach has been a great financial benefit for me.
Of course, if I had two kids, lived in remote suburbs, or had to commute to suburbs, the equation would be very different.
But for now, for me and many other urban dwellers, the value of owning my own car just doesn't compute.