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
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