Context:
-I mostly bike to work and the gym (15 minutes each, give or take).
-If it's snowy, I walk or take transit (paid for by employer).
-I own a 2011 Kia Soul Base (manual transmission), 88k miles. Paid for.
-I tried to sell it, but, at best, I might get 4000$ if I'm patient. More realistically, say 3500$.
-I have a street parking permit (40$/year). Street parking is pretty easy.
-Insurance is about 700$/year (maybe I'm over-insured).
-Looking at
http://www.mrmoneymustache.com/2011/10/06/the-true-cost-of-commuting/ , my non-gas costs per mile are roughly 4 cents depreciation + 0.6 cents tires + 0.5 cents oil + 1 cent other = 7.1 cents per mile.
-I get about 35 MPG. At 2.5$/gallon, gas is also 7.1 cents per mile.
-I ride about 60 miles per month for things like driving friends around, going to Aldi (3 miles, I know, I could bike, but I'm a pampered Mr. Fancypants), going to the mountains, etc. That's a cost of about 800$ per year.
-Also, the occasional 2x300 miles to visit family. When I do this, I get carpoolers through the internet. I get between 150$ and 250$ through this. Thus I net (after about 90$ expense) between 60 and 160$ per trip. Say 4 per year (Thanksgiving + Christmas + Easter + Other). Say netting 400$ per year. (Instead of costing me 240$ or so of traveling monies if I were to take such a carpool/bus)
-I also rent out my car on Turo. I get 20$ per day or so. It gets rented 6 days a month or so. Mostly on the weekends. It gets used an average of 40 miles per day. Thus costs are about 3$ per day. I net 17$ per day (or 100$ per month; 1200$/year).
My impression is that this car is annually making me 100$ = 1200$ (Turo) + 400$ (Trips) - 700$ (insurance) - 800$ (going around town). Thus, it's essentially costing me nothing.
Question: Is this math about right? It seems to me that I should simply keep this car and continue renting it out. Is that right?