Owning a car becomes less relevant?

[Britanny_Wells]

Recently, I've discussed with my friend that the interest of modern consumers in buying their own car is declining. It seems that saving money is what makes consumers abandon a personal car. Owning a car also involves other expenses: insurance, gasoline, parking, maintenance. Therefore, some people really prefer to use taxi services. What do you think, guys? Is there a need to invest in own car?

[disneysteve]

I've read a number of articles about this in recent years. I hate to use the term but for lack of a better one Millennials are gravitating more toward urban areas. Those are the same areas where managing without a personal vehicle is much easier. Between public transportation and ride services like Uber and Lyft, it can be convenient and cheaper to not own a car. You can always rent one if you really need one for a day or two or a week to go on a road trip.

There are pros and cons to this, of course. It has cut into auto sales. It is also starting to impact home sales and property values in the suburbs as younger folks who constitute many first time home buyers aren't moving to those areas that are less friendly to folks who don't own a car. That issue is aggravated by folks on the other end of the age range too. Seniors tend to move out of the bigger multi-story homes and move to places where they are on one floor and have better access to things when they are no longer able to drive.

I know a few people at work who don't have a car. They use Uber/Lyft to get to and from work each day. They're spending far less overall than if they owned their own vehicle.

[TexasHusker]

Cars are luxury items, no different than watches, shoes, and fur coats. Some folks “need” a car more than others.

I couldn’t have my businesses without my car, but I could certainly get by with far less car than what I drive. But enjoy expensive cars, so I am mixing need and want.

My family could also do ok with a 2 bedroom apartment if we had to, but we live in a 3500 sq ft house. Mixing need and want.

In America, you have the freedom to save or spend on almost whatever your heart desires. If you don’t feel you need a vehicle, you’re free to not have one.

Our country is a consumption economy. Most folks consume stuff, and lots of it. That might be irresponsible and imprudent, but if everyone turns prudent, there’s going to be lots of folks looking for jobs, as our economy will come to a grinding halt.

[GrimJack]

I was without a car for 7 months and use Car2Go; this made me reconsider every trip (it only cost 49 cents per minute but the clock is ticking for everything). I think I averaged a cost of $10 per trip and, maybe, 2-4 trips per week. They are discontinuing the 'Smart' car and going with Mercedes-Benz - pretty darn nice ride.

[LivingAlmostLarge]

Many of our friends who live in the city don't own cars.

[bjl584]

I need a car where I live. I'm too far out in a rural area to make Uber/taxi service affordable or practical.

[amastewa93]

This is one of the biggest reasons I moved closer to the city. Currently, I don't have a vehicle and when I decide to buy one it will truly be a luxury for me. I can walk to the grocery store, mall, movie theater, a number of restaurants. If for some reason I need to leave the area, there are four bus stops within two miles of my home. Uber/Lyft are also readily available and generally fairly cheap if I need that as well.

For me - a car is simply an added expense that I really only use when I am going out of town.

[disneysteve]

I can walk to the grocery store, mall, movie theater, a number of restaurants.

This is really the key and part of why suburbs are going to be in trouble in the coming years.

I grew up in Philadelphia. I could walk or bike easily to everything one would need: supermarket, bank, post office, movie theater, deli, restaurants, library, hardware store, pharmacy, department stores, etc. Now I live in the suburbs and we can't easily walk anywhere. The nearest store of any kind is about one mile away. I often miss that walkability factor.

[Nutria]

This is really the key and part of why suburbs are going to be in trouble in the coming years.

I grew up in Philadelphia. I could walk or bike easily to everything one would need: supermarket, bank, post office, movie theater, deli, restaurants, library, hardware store, pharmacy, department stores, etc. Now I live in the suburbs and we can't easily walk anywhere. The nearest store of any kind is about one mile away. I often miss that walkability factor.

Grass and quiet are higher on my list. I would expect lots of Millennials to migrate out just like many others in the middle class have in the past 70 years when they started to nest.

[disneysteve]

Grass and quiet are higher on my list. I would expect lots of Millennials to migrate out just like many others in the middle class have in the past 70 years when they started to nest.

Time will tell. I've just read a few articles pointing to changing trends compared to previous generations.

It's also why many suburbs have undertaken revitalization projects to build up or establish "Main Street" types of developments with mixed use complexes with shops, restaurants, condos, offices, and entertainment options.

[colby99]

Many people in major cities have calculated that the cost of using services like uber or public transport is cheaper that the overall cost of car ownership

For example, a car owner in London will have to pay for his lease or his loan repayments, then there's a congestion charge and the annual DMV check, insurance and the obscene cost of parking.

Instead you could use the underground, and get around faster and cheaper

[Mjenn]

We didn't get a car until we wanted one as a luxury item. We use it mostly for day trips or big grocery shopping trips, but to be honest we have no intention, as long as we stay in our neighborhood, to be a 2 car family.

We get around mostly by walking, bicycle or bus/train. It is cheap, easy and environmentally friendly. Before we got a car we belonged to a car share where we paid a monthly fee and could use a car a few times a month.

When we have been looking into moving further out of town we always calculate the additional car and mileage. It is one of the biggest reasons we are still here. It is so nice the kids can walk or bike to school, I can bike to work, we can swing by the grocery store or bike to a bar without having a designated driver.

My kids have access to 4-5 really great playgrounds and can go to 2-3 of them on their own. While we miss having a yard, the variety of environments they can play is really a benefit. But then we live in a university town so it is a bit of a special, international environment.

[Nutria]

I can bike to work, we can swing by the grocery store or bike to a bar without having a designated driver.

Here, two minutes of biking in the summer, and you'd be drenched. During spring and fall (right now, it's 79°F with 72% humidity) "only" 10 minutes of biking would drench you.

[SavingMoneyGoals]

I think it really all depends on how accessible the place you live is. Also, how easily you can get to public transport or cab services.

[Gailete]

I think it really all depends on how accessible the place you live is. Also, how easily you can get to public transport or cab services.

Exactly! My town may have a taxi, I'm not sure. A bus comes morning and evening into town mostly to pick up kids to a small college in town. But if you live rural like we do none of that is any help. Getting around our town for the most part, folks drive.