Household budget does not leave much room for unexpected events. The part of the budget dedicated to transportation and commuting is usually second after shelter. It is a lot easier to cut on this expense than others since simple decisions can have a huge impact.
Car owners do not necessarily realize the cost of their vehicle. A new study from AAA reveals that owning a vehicle cost in average $8,469 annually. Depreciation, fuel, maintenance and repairs are all factors influencing this number. Fortunately, solutions exist to limit your expenses or even to try out some alternatives.
Carpooling and ridesharing to reduce expenses
Carpooling is nothing new, it is claimed that it dates back to World War II. At that time, the authorities were trying to find ways to limit the use of fuel that was lacking. Today, the practice is known to all, but much work remains to be done to increase its wide adoption. Ridesharing and carpooling shouldn’t be confused with on-demand transportation services like Uber or Lyft. These services are comparable with taxi where the driver is making revenues out of it.
Carpooling on your daily commute has a high money saving potential. With two passengers on board, you could expect to save about $ 3,500 annually. Obviously the more passengers in the vehicle, the more your wallet will thank you!
In addition to carpooling for your daily commute, long-distance trips are a great way to take advantage of ridesharing. A platform like Ridesharing.com is a great way to share transportation costs with other people looking to make the same trip. The legislation usually requires drivers to request an amount that represents a share of the costs related to transportation. Generating revenues would usually require acquiring a transportation permit. Our platform automatically suggests an amount to ensure you ask for a fair cost.
A logical strategy is to experiment transportation alternatives available on a given territory. We can think of services such as Car2go for carsharing, Turo, Getaround or the brand new Maven service from GM for car rental between individuals, Uber or Lyft for on-demand transportation and of course buses, trains and subway for mass transit. Using a mix of those services can even allow you to get rid of a car without losing the flexibility associated with it.