Comments on: 3 Keys to Sharing a Car

By: Becky Striepe

Becky Striepe — Fri, 04 Nov 2011 19:53:42 +0000

Thanks for catching that, David and Elisa! I talked to Jade and made a correction above. That $60k was over 5 years, not for 1 year.

By: Jade Evans

Jade Evans — Fri, 04 Nov 2011 12:48:05 +0000

David and Elisa –

Thank you for pointing that out – I actually made a typo! It’s more like $60,000 over five years rather than $60,000/year. Thank you for making me double check! I didn’t catch the incorrect citation. I found the figure at bankrate.com, so I’m assuming it’s somewhat skewed, but as I say in the article, the figure calculation includes things like insurance and upkeep as well as averaging in the cost of gas. Here’s the full quote and context:
“How does an extra $62,000 sound?
Give up one of the family cars and sock away the monthly expenses and that’s about how much you could save over five years, according to Heathrow, Fla.-based AAA.”
The full slideshow is at : http://www.bankrate.com/finance/auto/5-tips-to-becoming-a-one-car-family-1.aspx#ixzz1cjxAmWy6

By: elisa

elisa — Thu, 03 Nov 2011 21:51:17 +0000

I have to agree with David, where is that $60k figure coming from. Did you mean $6k a year?

We’re a 1 car family and I have to agree. Communication, simplification and scheduling are key. Living within walking distance from the grocery store and other ammenities has been the biggest factor in our success. And, it is nice to spend more time in the car together.

By: David

David — Thu, 03 Nov 2011 21:30:12 +0000

Not to be a stickler, but would love to see how the amount of $60,000 per year in savings was produced. That’s an average of $5,000 per month spent on one car, and I doubt there is anyone spending that kind of money . Anyway, would love to see how they came up with that!