The Case For Not Needing a Car in NYC
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As many may know, New York City is not one of the cheapest cities in the world to live in.
In addition to the million dollar condos and extravagant luxuries along Fifth Avenue, I feel that a car joins that group of extraneous expenses if it isn’t absolutely necessary.
Of course, I’m speaking from my personal perspective but I do make a case for those in the same living situation as myself.
No Car For Me Yet
If I can get to work just fine without a car, then I probably won’t need it. Most people who have cars either need it to commute to work or have families. In my financial situation, the money saved from not buying a car would be better put in appreciative assets.
So, the predominant reasons for not buying a car yet:
- High insurance premiums. Auto insurance for any young 20-year-old with a registered address within the five boroughs is expensive. Move out of the city limits and insurance plans cost 50% less.
- Convenient public transportation. The subway system is an extensive labyrinth that will take us to 95% of the places we will ever need to go within the city. This kind of accessibility is the deal-maker.
In spite of the impending fare hikes, unlimited rides for a year would cost less than $1,400 – a persuasive reason for becoming a regular subway passenger. And, don’t forget the money saved on gas and maintenance.
- Unbearable city traffic. Anyone who has ever driven in the city can relate to the occasional anger of slow, crowded traffic or reckless cab drivers. The amount of vehicles in these streets still amazes me. Parking also becomes a time-consuming hassle.
Even wealthy professionals, who own one or two cars, still choose to take the train out to work because they know just how troublesome it will be. Others living in the outskirts of the city drive to the train station and use public transportation to get to work.
Until a car becomes a more convenient choice to get things done, I’ll stick to driving my dad’s humongous minivan during my free time while I travel with the masses for everything else.
What’s your case for sticking it out without a car?
(Photo credit: realSMILEY)
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3 Comments on this post
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Kay Lynn Akers said:
If I lived in NYC, I wouldn’t own a car either. Unfortunately, in spread-out Southern California I can’t imagine getting by without one.
October 8th, 2010 at 7:54 pm -
Khaleef @ KNS Financial said:
Many people who live in this area (I’m actually from a huge city in NJ) don’t own a car, but will rent or borrow one when a situation comes up.
That’s a great way to save money!
October 8th, 2010 at 10:01 pm -
Sandy @ yesiamcheap said:
There are something like 8.5 million people in NYC. Most of us don’t and will never own a car. It’s way too expensive and public transportation is safe cheap and reliable. Trust me, it’s the way to go. Now, with that said, I live on the very edge of the city, so I own a car and now that I’ve gotten accustomed to it, I don’t know if I could give it up. Then again, there is a Zipcar right down the street from me.
October 12th, 2010 at 7:17 pm
