Comments on: Life Without Wheels

By: Takako Komori

Takako Komori — Sun, 08 Mar 2009 01:44:04 +0000

My family and I live in Waterloo, Ontario in the suburban part of town, about 5 km from downtown. We are leasing a Toyota and my husband uses it during the day so during the day, I have no access to a vehicle. Most people on our street seem to have two cars and although there are two bus lines a short walk from here, each runs only once every half an hour, i.e. four buses/hour. Not very convenient, when you consider there is no direct route to my kids` karate lessons. Consequently, we end up taking taxis frequently, and I`ve been adding up the total amount we spend on taxis per month. Usually comes out to be more than $100/month but less than $200 most months. This would be a lot cheaper than owning/leasing a second car because right now we are paying $590/month for lease, $180/month for insurance; that`s already $770 and the rest is gas. So we`re paying probably around $900/month! Imagine leasing a second car!
It would be really expensive!

By: Everyman’s Guide to Decreasing Expenses

Everyman’s Guide to Decreasing Expenses — Fri, 09 May 2008 09:19:19 +0000

[...] from. If you have more than one car, consider selling the extras and getting by with just one. I’ve never owned a car. Maybe you can’t get rid of it if you’re living in it though [...]

By: Festival of Frugality #115 — Broke Grad Student

Festival of Frugality #115 — Broke Grad Student — Tue, 04 Mar 2008 13:11:01 +0000

[...] Cheap presents Life Without Wheels at Quest For Four Pillars. Would you be able to live life without [...]

By: Four Pillars

Four Pillars — Mon, 03 Mar 2008 00:54:06 +0000

Traciatim – I agree with you. Unless you like staying home all the time or you live in a big city near a good transportation loop then living without a car is tough.

Mike

By: Traciatim

Traciatim — Sun, 02 Mar 2008 23:44:01 +0000

I agree with Plop, unless you live very close to work ( < 20-30 minutes walking) in most areas a car is needed. In my case my GF’s job is around 18KM away, but at highway speed it takes you just about 12 minutes to get there. If you walked 3KM/h you could get there instead in 6 hours, or bike at 25KM/h at around 45 minutes.

Looking at my situation I’ve spent probably 9000 on my car, and purchased it for 12600, and probably paid 1K in finance charges until I paid it off, we pay 50 bucks a week for gas, and 125 a month for insurance; another 4100 a year over 4 years or 12400.

That puts my cost at 35000 over 4 years, or 8750/ year. It would be much less had we not blown an engine, but it can happen to anyone. Once my work is done I could probably sell it for 7 grands, for a total cost of ownership of 28000 or 7000 per year.

Now since there is no good public transit between my spouses work and here, and the fact that a taxi from here to there is 18 bucks each way, or 36 bucks a day and she works 3 days a week there, just her cabs alone would come to 5616 a year. Plus cabs when we get groceries once a week, or another 520 a year, for 6136. Add in me taking a cab to work twice a month for weather, and the bus every other day (240 + 300 for cabs and buses) we’re at 6676.

This doesn’t count that we can now hop in the car and go to the park/beach/visit friends and the like any time we like, the net profit from not having the car looks like around 324 bucks a year, or 2074 bucks a year is you don’t include the sales cost. That’s 27 – 172 bucks a month depending on how you want to calculate it.

So, just the same as the argument of rent vs own, RRSP vs Mortgage vs TFSA, or any of these individual cases it comes down to a personal choice. Depending on what things you count and what things your situation costs in each case, as well as an emotional side which can’t really be quantified all plays the roll of ‘Is it worth it to you?’.

P.S. What happens when you go away for a week and rent a car? That’s going to cost you 275 for the rental and 25 bucks a day for insurance 175, plus tax or around 500 bucks . . . just for a week away. For us on ‘the inside’ it’s just an extra 40 bucks of gas.

By: Four Pillars

Four Pillars — Sun, 02 Mar 2008 19:15:50 +0000

Traciatim – too bad about the car repairs.

Plop – I guess it really depends on your location and requirements for transportation.

By: Plop

Plop — Sun, 02 Mar 2008 16:36:55 +0000

40 minute bike ride to work? Jeez, your poor c0-workers! You must really be ‘ripe’ for work after that!

(I’d send you home if you showed up after a 40 minute bike ride).

By: Plop

Plop — Sun, 02 Mar 2008 16:34:26 +0000

Freedom is worth more to me than living on someone else’s schedule.

The transit in this major city is garbage. Good luck if you need to get somewhere on the weekend (wait 1-2 hours for a bus that ends at 6:00PM, whee!).

My car + gas + insurance is less than a transit pass here ($80). And I can go where I like, WHEN I like. Good luck waiting for the bus in -40 degree like we had this winter.

I haven’t taken transit in 20+ years, and never (hopefully) have to!

By: Prime Time Money March Madness Roundup | Prime Time Money

Prime Time Money March Madness Roundup | Prime Time Money — Sun, 02 Mar 2008 00:24:55 +0000

[...] living in. Paid Twice is paying off debt using Dave Ramsey’s Debt Snowball method. Quest for Four Pillars shares what it’s like to live without an automobile. Single Guy Money provides part three on [...]

By: Traciatim

Traciatim — Sat, 01 Mar 2008 16:21:44 +0000

So, just an update for anyone who is interested. I just sunk 2600 after tax in to my car to do a ton of suspension/brake/wheel work and a nice set of 4 tires. 4 days later my oil pump failed while running at highway speed . . . engine is destroyed. Cost of a used engine plus labour to put it in is quoted at 3600 + all the fluids that will be needed. That’s 6200, when my car is worth probably 7 grand anyway . . . but since I’m already half way through I don’t have much of a choice.

Here’s hoping nothing else catastrophic goes wrong between now and 2012, my estimated ‘new to me’ car date (when mine is 10 years old).