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Friday, July 23, 2010

Costs of car ownership - followup

I just received a solicitation from Habitat for Humanity. It listed the monthly costs of a "typical" renter family with two parents making the federal minimum wage of $7.25/hr. Interestingly, it notes that to own and maintain one used car costs $425.

Using a 30-day month, that translates to $14/day for one car, which is more than my earlier estimate of $11-$22/day for two cars. And this car is used!

Again, the figure of people spending like 10-20% of their income on transportation is not uncommon these days. Such so-called fixed expenses disproportionately impact the poor, not to mention are ridiculous as a drain on the national economy. Having walkable/bikeable communities would drastically reduce such waste.

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