how much do you save not owning a car (rent, insurance) - New York City - New York (NY) - City-Data Forum

Radical_Car · 08-01-2009, 09:56 PM

how much do you save by not owning a car and how much does the public transportation cost, like a pass for 1 year or something.
thank you

Chava61 · 08-02-2009, 06:29 AM

In NYC, the current subway/bus fare is $2.25 per ride. If you buy a 30 day unlimited card it costs $89. So do the calculation....

ddhboy · 08-02-2009, 06:44 AM

Depends on where you live and how your paying for public transportation. The cheapest way is via transitchek which is deducted from your paycheck before taxes (because its tax free according to the IRS) and I think they currently take out like 50 dollars a month for that, so you'd pay 600 dollars (of tax free income) a year for that. But you can only get it if your company offers a transitchek program.

Other than that I'd say the only vehicles that are comparable in price to riding the subway in this city are motorcycles and scooters, which explains why they've gotten so popular recently.

bluedog2 · 08-02-2009, 06:46 AM

Let's see. Most people have car payments(owning or renting) of at least 200/mo.That's 2,400/yr. Insurance in NYC is at least 2,000/yr. You either pay to park or get a couple of tickets every month.Another 200/mo min I would say( 2,400/yr) for 'housing your vehicle.Average gas and maintenance ? 3,000 yr( min).
It must cost at least $9,000/yr to keep a vehicle in NYC.A year's metro cards would be a little over $1,000.
Ya,I know some own their cars(no payments) and park in their driveways and drive around with no insurance,but that's not typical.

Viralmd · 08-02-2009, 09:32 AM

In Manhattan, unless you own a townhouse with a garage or have lots of time to find street parking, garages generally START at $400/month. Add to that the insurance, maintenance, registration, etc. and you're probably seeing about $8000 plus /year.

Chava61 · 08-02-2009, 02:45 PM

Well the cheapest way to own a car is if you have older car that has no car payments on it and you are willing to park on the street & move your car for street cleaning twice a week in lot of places in NYC.

oberon_1 · 08-02-2009, 06:32 PM

Quote:

Originally Posted by bluedog2

Let's see. Most people have car payments(owning or renting) of at least 200/mo.That's 2,400/yr. Insurance in NYC is at least 2,000/yr. You either pay to park or get a couple of tickets every month.Another 200/mo min I would say( 2,400/yr) for 'housing your vehicle.Average gas and maintenance ? 3,000 yr( min).
It must cost at least $9,000/yr to keep a vehicle in NYC.A year's metro cards would be a little over $1,000.
Ya,I know some own their cars(no payments) and park in their driveways and drive around with no insurance,but that's not typical.

Not exactly true. If you don't own a car and want to get away on weekends and holidays (summer - to beach, winter - to ski areas, visiting out of city friends and relatives) you will either rent a car or spend on taxi or train. That can add a big expense. That said, its probably still cheaper not owning a car, but you pay with convenience and comfort.