Is it Cheaper to own a car or Rideshare to work?
The answer to this question depends heavily on where you live and how much driving you do. A recent study highlighted 4 major cities where the study determined it is cheaper to Uber than it is to won a car. Before reading the answer below try and guess which 4 cities the study determined are cheaper to Uber than to own a car.
These 4 Major cities its cheaper to Uber:
- Washington DC
- Los Angeles
- New York
The study done by Mary Meeker highlighted that 4 out of the top 5 largest cities in American that you can actually save money by utilizing a ride sharing service instead of owning a car to get back an forth from work. At first this may be shocking, but when you begin to consider the wear and tear that is put on a vehicle, especially in stop and go traffic then it is no surprise that after gas, insurance, and repairs ride sharing becomes a more appealing option.
A major area of convenience larger cities have is the volume of uber drivers available. 5 years ago taking a taxi required planning and patience in order to arrive on time. Now with ride sharing becoming more and more popular it is not uncommon for a customer to turn on their app and have a driver outside waiting for them within minutes of their request. This provides almost the same level of flexibility that owning your own car provides.
An additional benefit of utilizing a ride sharing company for your commute is you are free to drink your morning cup of coffee while reading, checking your email, or texting all without the concern of causing an accident or getting an expensive ticket.