So I've made the switch. It was a huge decision, but I feel great about it. No, I'm not talking about Folger's Crystals, but Zipcar.
For those who don't know - it is a car sharing service - and you only pay for what you drive. Need a car for 3 hours on a weekend? Just use Zipcar... http://www.zipcar.com/ if you want details because I don't feel like doing it here.
Anywho, I cashed in my old 1995 Chevy Blazer after its most recent mechanical failure for 100% Zipcar and I feel liberated. I don't pay for gas, I don't pay for insurance, and I don't pay for parking! HA! Of course, I don't have a car either, but I do have access to many. That is the rub, I can't just drive on a whim. On the flip side, I think this will push me to use the T and even walk some! Whilst running the numbers for Zipcar I noticed a trend with my monthly expenses. They are all service subscriptions:
For those who don't know - it is a car sharing service - and you only pay for what you drive. Need a car for 3 hours on a weekend? Just use Zipcar... http://www.zipcar.com/ if you want details because I don't feel like doing it here.
Anywho, I cashed in my old 1995 Chevy Blazer after its most recent mechanical failure for 100% Zipcar and I feel liberated. I don't pay for gas, I don't pay for insurance, and I don't pay for parking! HA! Of course, I don't have a car either, but I do have access to many. That is the rub, I can't just drive on a whim. On the flip side, I think this will push me to use the T and even walk some! Whilst running the numbers for Zipcar I noticed a trend with my monthly expenses. They are all service subscriptions:
Rhapsody
Cell Phone
Netflix
Gamefly
Zipcar
I prefer this to the depreciating asset model of the automobile and because I don't drive much, it makes financial sense for me. When you own (outright) an old car, you usually have two options:
1) Keep the car and deal with stream of payments that increase in both size and frequency as more time passes. I suspect this may be exponential to some degree for very aged cars, but without any testing, I really can't say.
2) Buy a new/used car and deal with a new, stable stream of payments that turns into #1.
Now with Zipcar - there is a third option. This only works for the city dweller and T user - sorry everyone else, but population density rocks and the suburban sprawl sponsored by GM & Ford sucks.
1 comment:
Excellent move. I think Zipcar makes sense for a lot of people who live in a city with a good (defined in relation to "nonexistent") public transportation system that they can take to work and most of their day-to-day destinations, but who also occasionally need to visit the 'burbs or have some additional capacity for hauling major purchases back from the store.
The other nice thing about Zipcar is that you have the ability to test-drive a wide variety of cars, some of which you might not think to try out (or afford) otherwise, so if and when the time comes to buy a car, you're that much more educated. I've even heard of some car-owners signing up for Zipcar for this very reason. I'm half-tempted to do this myself to give the Prius in my building's garage a spin around the block.
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