Why You Should Ditch Your Own Car and Get a Rental Instead
Have you ever stopped for a minute to consider the inefficiency of driving? It doesn't take much for your mind to wander in this direction when you're sitting in a traffic jam during rush hour, trying to get home. Yet while it's fairly obvious to see the inefficiencies associated with the cost of commuting, have you stopped to consider the ineffective capital expenditure associated with even buying a car?
Pure Inefficiencies
As the population grows, more and more people seem to be taking to the road. It's far from unusual to see two cars parked in the driveway of an average suburban house and also far from unusual to see just a single occupant in those commuting vehicles. But there is also a reason why there is so much congestion at those so-called "peak" hours. It's because the majority of people use their cars just for one reason, to get back and forth to work.
The 5% Rule
Did you know that numerous studies have been conducted, which almost universally conclude that people use their cars for only 4% of a typical day? This means that, on average, you are only actually driving your car for about an hour each day.
So for the remaining 23 hours this car has to be parked up somewhere, occupying valuable real estate and invariably costing you money for the privilege.
What Are The Real Costs?
Everybody knows that cars depreciate quite considerably and that it's a real cost of car ownership. It certainly concentrates the mind when you realise how much money you have to fork out in depreciation terms for a vehicle that's effectively just sitting there for the majority of the time. Also, even though there have been considerable advancements in this area over time, these cars are still prone to corrosion when exposed to the elements, which is another potential cost factor.
Thinking about Options
It is little wonder therefore that many people are considering whether or not they actually need to own a car and how they can make the trip to work more efficient. It's another reason why people are turning to rental cars, for those occasions when they need a vehicle for a specific trip. When you analyse the cost of a rental car in this way it becomes extremely cost-effective compared to the capital cost, depreciation and the other monthly expenses associated with owning your own vehicle.
