I came across this tweet from a Twitter user that is known for passion and knowledge about the micro-mobility area
A bit of tracking down his comment section led me to this article which is likely his source
The figure doesn’t include other expenses such as gas, parking or insurance. A monthly insurance can go up to $100 easily and parking fees in my current building are $100 as well. Throw in gas expense and suddenly the cost of ownership can swell up to a significant amount. The estimate doesn’t take into account some ad-hoc expenses such as maintenance, decoration, paperwork…
If your income can easily cover the monthly expenses and a car is an absolute necessity every day; which is the case for many here in America, then owning a car is fine. The issue; however, is that there are many whose income isn’t stable or big enough to cover the expenses. They get themselves into debt and financial troubles for owning a car or upgrading one.
Buying a car is a big investment in my opinion and should be taken seriously.
I was a student for 2.5 years in a town where public transportation is horrible and have lived in the US for 3 years. I don’t drive and I can honestly say I survived quite well. If even I can do it, it’s possible.