According to a 2004 American Automobile Association study, the average American spends $8,410 per year to own a vehicle. That’s equal to $700 per month, and a lot of potential savings when you throw away your keys.
How much? If you take those $700 each month and invest them in an 8 percent annual return, it'll really add up. You'll have enough to do something like make a down payment on a house—$18,153—after two years. Five years of car-free living will net you enough to, say, pay cash for you child's college education (or about $51,433).
Planet Green
4 comments:
And like Brian said in the previous post, you can travel lots with your lady!
I was able to buy a house with all the money saved not owning a car.
Still do carsharing about once a month, but mostly bikes, buses, light rail, and taxis at night.
Saved a down payment big enough to secure a cheap loan.
Real estate holds value much better than owning a car anyway.
If the recession ends, the house you buy now could be worth lots more some day.
Going carfree is just part of the new movement towards being a real cheapskate. This guy is great if you are into being cheap.
http://www.ultimatecheapskate.com/
Yeah. You can send your kids to college on that money! You just won't be able to get them there! Light rail is a great way to move bean bag chairs, I tell you.
Hey "Anonymous"
Breaking News!
Rental car agencies now have trucks. You can rent one for a day and then give it back.
Cheapskate carfree life continues!
Got any other reasons you can't possibly go car free? Bring them on.
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