Hi All,
Looking for your advice.
My current car is leased (pre mustachian and being skint at the time decision). The lease expires in September next year. I'm disillusioned with owning a car. Traffic is always shocking here (Manchester UK), it's terrible for the environment and from next year I'll be working from home full time, so I shouldn't have a commute to contend with. I've always 'needed a car' as I manage a few accounts and setup my software at new sites across the UK. With the improvements in technology, I feel I can reduce client visits moving forward. New business can be geared to 'online installation' which saves time and money for both parties.
My car 'costs', very roughly, are:
£2500 per year to lease
£750 per year insurance
£600 per year petrol
£200 Misc (wear and tear + servicing)
That totals out at around £4k. When you take on a new vehicle you usually have to pay a lump sum in the first year on top, which can be anything up to £1k.
I've always been given a car allowance from work, who also pay for any work-related mileage (and would continue to cover expenses for client visits, whether I travel using public transport etc).
I could have a public transport/taxi budget of £300 per month and still have more money in my back pocket (with less damage to the environment and more encouragement to exercise). I don't know what occasions I'd need a taxi for though. A new tram line is being built around 2 miles away from my house into the city centre for nights out or watching my football team, I get my groceries delivered, use my sister's prime account etc. If I want to visit friends/family, most of them are walkable or biking distance away and I usually visit them with my fiance who has no plans of going car-free.
My Fiance drives and has a car, so any joint driving or emergencies we still have access to a car. She is opposed to the idea as she believes it will put an unnecessary burden on her. She doesn't like the idea of me taking her car, and leaving her 'stranded' (I'd give her access to my uber account, so she'd still have access to go anywhere, in the off chance I needed her car desperately). We also plan to start a family after we're married this summer. So having a car might make trecking children around more luxurious if we have two cars at our disposal.
I could easily afford to replace my car. I could buy one tomorrow if I wanted, so should my trial go tits up, I've always got that option.
My circle of family and friends are non-mustachian and wouldn't get it. I've tried explaining the maths behind my thinking, but they just think I'm tight. I'm not bothered by their misconceptions, and it's not my job to try and convert them. Just adds a bit of context to the debate. I'll be seen as that guy who can't afford a car so he gets the bus everywhere, as opposed to that guy who actually cares about the environment and his own back pocket. :P
The pros are:
- more money
- lower my carbon footprint
- more exercise
The cons are:
- less flexibility in travelling and a requirement of further organisation
- potential strain on my partner
- social status impacted (LOL)