Infographic: The True Cost of Commuting

Car’s are not a cheap proposition, and with rising fuel costs, they are only getting more expensive. But it can be hard to put a number on just how much cars are really costing us in the long run. Streamline Refinance came up with this handy infographic and, if the figures are to be believed, a car is actually costing you a lot more money than you realize.
A Study In Cost

Now I say “if the figures can be believed” because pretty much any study can be put together by cherry-picking data. That said, I don’t find the figures presented in this infographic all that outlandish. Cars are expensive to buy, and, more importantly, maintain, and a vehicle is a huge investment. And as it turns out, even a modest commute can have a serious detriment to your “real” wages.

But the most stark numbers come after 10 years of ownership. A two-car household after ten years of each owning a car will sink over $125,000 into their cars if they spend, on average, $19 a day on fuel and maintenance costs (like changing the oil, fixing a broken part, etc. etc.) That is going by the IRS’s own estimate that driving a car costs 51-cents per mile. The infographic also tries to take into account driving a “thrifty” car, but the numbers are still rather intimidating…and this from a car-lover! The infographic recommeds moving closer to home and biking to work, if possible…hwich for many of us, it isn’t.

I always take studies like this with a grain of salt…but knowing what I alone have spent on cars in less than a decade of having my license, I would say these numbers probably aren’t that far off. What do you think, dear readers? Is this a bunch of baloney, or are automobiles really costing us as much money as this infrographic would lead us to believe?

Source: Streamline Refinance

 

Christopher DeMorro

A writer and gearhead who loves all things automotive, from hybrids to HEMIs, can be found wrenching or writing- or else, he's running, because he's one of those crazy people who gets enjoyment from running insane distances.