Ditching my car for Uber saves me over 6 days of time and $11,000/ year – Millennial shows a glimpse of the future that auto industry dreads

February 9, 2015 at 6:52 pm

The simple math of owning a car vs. not owning one marks the paradigm shift in attitudes among generations. What was once not feasible – living without a car – has now become easy (at least in many cities across the US), thanks to location-based, on-demand transportation solutions such as Uber and Lyft. In a Business Insider article, Katherine Krug, summarizes her car-free life in San Francisco.

Since giving up my car (in Oct’ 2013) , I now spend an average of $572 per month on transportation, which comes to $11,352 per year in savings. On top of that, I get back my time, the most valuable thing of all. I save an average of 6.5 days per year — almost a full week! — to focus on the things I want to be doing, rather than serving my car.

What caught my attention is the last sentence – Katherine’s elation about not “serving” her car. If this is how the youngsters feel about automobiles there is no way anyone can make an argument for owning a car. Maybe we have turned a new page in America’s love affair with the automobiles (which, at times, seems untrue when you read about booming auto sales)?

In the backdrop of how not owning a car helped manage her mobility needs while also saving her a ton of cash, you would be astonished to see Sarah’s average monthly expenditures (and time associated)  when she owned the car (see table below). Read more here

Image via Business Insider