My previous car was an 1987 Audi 5000S Wagon, which I bought in 2006 for $875. I sold it in 2007 for $800. Taxes and liability insurance ran at about $300/year. I also had to pay about $400 during that year for repairs. It did about 17-18 mpg in the city. I drove about 300 miles in 2 weeks. I think it beat all other cars I knew in terms of cost of driving a mile.
The author is missing one important thing in his/her economic analysis: the psychological cost of NOT owning a car. If people keep buying new, expensive cars even though it’s expensive, it means that they value the opportunity to drive such cars more than the money they have to spend (or waste, depending on your point of view). Also, think about the point of this website. Get rich slowly? What for? What’s the point of having a million dollars when I am 75? I completely sympathize with John Wagnitz. I believe that driving less and walking or biking more is a great idea, but unfortunately, that’s not what most people think (especially if you’re in Texas).
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