My suggestion would be to set up a separate savings account for a car and save up the amount that yo

I've never owned a vehicle of my own and up until this summer, I was dead set against the idea. I live in Toronto and living in the big city has it's advantages. Sure, the rent is higher but public transportation is so convenient and amenities are so walkable. I ve come to completely embrace the pedestrian lifestyle and now I have virtually southwest airline prices no need for a car, which invariably keeps my transportation costs low.
It's been very tempting to look at that $150 figure and just write off the whole idea of owning a vehicle. I KNOW that owning a car is big expense, however I did not want to write off the option without knowing exactly how owning a car would affect my financial picture.
I decided to have fun with this and took a day to ambush car dealerships. Some background on Ken: I took a shop class back in high-school, but since moving southwest airline prices away to university, I have essentially checked southwest airline prices out of automotive culture. I have no concept of fuel economy or the significance of horsepower or resale value ? Trying not to let that intimidate me,  I test drove simple, fuel-efficient cars that weren't overly ostentatious. After shopping around at different dealerships and negotiating the best deal I could find, I took the numbers home and started doing the math. I took my existing monthly budget and created a few hypothetical situations where car ownership was an option.
Car payments, Insurance, Maintenance, Fuel and Parking. These are all new (to me) factors that I had to consider. Through this process, I learned that owning a car in the city is more expensive than in the suburbs or the country. Higher insurance, pricier gas and PARKING omg the parking! Best case scenario, I'd be adding at least $550/month to my existing transportation costs.  I have to admit that test driving cars really got me emotionally vested in car ownership but this number was really hard to swallow. In my head, that is money that I'd be diverting from savings and investing, as well as other fun stuff like travel.
1. Rent cars as I need them. I lose a lot of the spontaneity but I make up for it with overall savings. I save on car payments, and maintenance, but, once that rental money is gone, it's gone. It's not like I have anything to show for it.
As ominous as I have made this out to be, I still haven't southwest airline prices completely abandoned the idea of getting a car. In reality, I COULD afford the luxury southwest airline prices without compromising my basic savings or going into debt. It would free me from being trapped in the city, allowing me to visit family who aren't as conveniently located, take spontaneous road trips, and give my friends and family a break from having to pick my sorry self up from train stations and airports.
Ken is a twenty-something professional, living in Toronto, Ontario. After finishing university with over $25k in student debt and zero financial literacy, Ken decided it was time to take control southwest airline prices and start building his financial foundation. southwest airline prices Inspired by the wise words of Gail Vaz-Oxlade and other Canadian personal financial gurus, Ken was able to finally clear his debts and start focusing on his future.
I ve lived in 2 expensive southwest airline prices cities in Canada. In Vancouver, I did the same as you do now. Car sharing (which was actually through work), and rentals whenever I needed to make a trip (+/-3 times per year). southwest airline prices I lived right downtown, and though groceries were more expensive, I walked southwest airline prices every where. And I loved it. In Toronto, I have access to my DH s vehicle (which he bought before we were married.) This is important as his family is out of town by a few hours, and we do that drive at least once a month. However, I still do car sharing through work, and we live a bit further that I could still walk everywhere southwest airline prices if I wanted to. Though I have used the car for work as well. Personally, I really wouldn t need the car, but since we have the convenience, I appreciate it. And we pay for the parking! I can t imagine going back to the suburbs where I grew up and having to drive everywhere again! Of course, if we want to move out of our condo, we ll have to look there because anything in the city we can t afford.
Also factor southwest airline prices in your time for getting car maintenance done. You actually have to bring it to the shop. It is quite a pain really. Did you include seasonal tire changing with that? Do you have a place to do it yourself or will you bring it into a shop (add $). What about detailing once a year (often done, costs between $150 $200)? If you do yourself, you will need the extra time and the supplies / equipment.
If it was me I would be using the car share option more often. I used it when I lived downtown TO and it was great. There were at least 3 cars in my area that I would book and normally one was available at any time. Guaranteed, you would not spend $550 a month. As a bonus you get to use different types of cars! Take a convertible for a trip out of town in the summer, an electric car just for the experience
I m living downtown in a medium sized city while going to school and absolutely hating the idea of someday having to get a car. I d much rather be driven than drive and thinking of the costs of car ownership makes me a little dizzy. Sure, there are times when it would be nice to have a car (ie visiting my parents 4h away, taking roadtrips etc) but I feel like by taking the occasional taxi home with my bulky/heavy groceries and saving the difference from transit vs car ownership to put towards renting is the better choice for me right now.
My husband has a car, and I m in the midst of getting my license. A car is certainly convenient for weekend errands and driving north to visit my family, but honestly, I still rely on the TTC to get me around.
Otherwise, it s a huge expense and doesn t seem all that worthwhile. It s a huge expense for convenience, and honestly, we still TTC to the airport. My pass includes the fare anyways, so $5.20 covers us going to and from the airport as opposed to $65+ for a week of parking or $100+ for a taxi there and back!
This is so intriguing. If I were in your situation, I think I would stick with what you already know works the public transit, trains and car share. The extra for parking alone wow. I live in a prairie province where we were recently thinking of getting a THIRD vehicle (two for gas mileage/commuting plus the truck for towing and hauling). We decided to stick with the 10 year old car (that I love) (and its long since paid for) and the truck. We do not pay for any type of parking though so there is a truck payment in that amount alone.
Public transportation there is none where I live, nor are there car share opportunities. Carpooling, like to work in the city is moderately common, but most people drive themselves and I don t know of anyone who carpools with another family for groceries or errands.
The new cars do look so awesome though had a warranty issue last week and while I was waiting, I was looking at the vehicles on the show room floor, and took one for a test drive even came back with the kids to see how everyone fit and sounded so affordable . Instead of buying it then, I have added another savings account and I will put the affordable monthly payment into there to see if I can really afford it.
My suggestion would be to set up a separate savings account for a car and save up the amount that you would need to buy a car with cash and pay for insurance for a year. When you have done that revisit the idea of car ownership in the city. You may decide that the money would be better spent elsewhere or you may purchase a car. At least you won t be paying interest if you do decide on a car.
My husband is a huge car fan loves his sporty little cars. But even he is coming around to the idea of sharing one car between us. The expense of having two vehicles is crazy! We are also in a very expensive-to-insure neighbourhood. southwest airline prices Getting rid of both cars is not an option unfortunately. My work is 30-40 min by car but 2 hours by public transit.
I think you need to recalculate southwest airline prices your monthly estimate because it looks more like $190/month than $150.00. My advice is to stay carless as long as possible. You ll likely need one should you decide to settle down and have kids, but for now te inconveniences and expenses will outweigh the benefits.
I m debating the same thing! I have 2 part time jobs and go to school full time, in different cities. I live at home with my parents and drive their car. I don t have the time for public southwest airline prices transit! That being said I don t live in Toronto, public transit in my area is not nearly southwest airline prices as convenient. southwest airline prices If I lived downtown I don t think I would want a car. I am waiting until I graduate in a few short months to get a one of my own.
For a long time I was stuck on the idea of getting a new car, but the cost can get ridiculous. There are always hundreds/thousands extra for basic add-ons (think automatic transmission), then of course taxes. Ouch. I recently have been looking into some used cars, and demos- I think that is the way to go for me, unless I can get a really good deal on a new car. Car sharing wouldn t work for me personally because like you mentioned, I like the idea of owning something, and the convenience of using it whenever and wherever I want.
Ken, I admire you for living your life to this point virtually car free! My views of vehicle ownership have shifted in recent months and while many consider a car a luxury, if not a necessity, I don t see it that way anymore.
I recently sold my 12 year old car only a few months ago and I have no plans to replace it anytime soon. I don t regret my decision for one minute. In the last two years my car was spending the majority of its days literally sitting in the interior parking garage of my apartment building collecting dust. I live in Winnipeg, which has a decent public transit system southwest airline prices but by no means the extent of Toronto. Being car-free is NOT for everyone. For some in my city, public transit is not as accessible or convenient, someone s job might depend on a vehicle or you m