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You Need To Save Some Money
The 2008 Consumer Expenditure Survey, done by the Bureau of Labor Statistics, indicated the costs associated with transportation
AVERAGED $8,604 per household. This was for an average of 2.0 cars per household but does not include one of the major
costs of car ownership, namely, depreciation.
For a look at specific costs per vehicle check out the Edmunds "True Cost to Own" calculator. Even looking at a used car, say, a 2006 Honda Accord bought in 2010 for a cash price of $13,782. A 5 year
cost of ownership would be $29,910 including depreciation, fuel, maintenance, insurance, and financing. That's $5,982
per year, or almost $500 bucks a month! If you exceed the average miles driven, maintenance or insurance costs, this number
will be even higher.
The average cost per mile for the example used vehicle is $0.40 while the average costs per mile calculated for bicycling
is $0.03.
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