Ideas Please. Public transportation vs. Driving?

Question

I have been thinking of giving up my car a long time mainly because its driving me broke. (gas, insurance, car-note)

I use it mainly to get to work. I live 3 blocks away from my job.

Public transport here is great. but I have invested 2000 so far on the truck I still owe $12000.



should I give up the truck and just ride the bus like everyone else?

Answer 1

Public transportation should be used as much as possible if you want to save money. Besides that, 3 blocks is walking distance.

You might want to trade in for a vehicle that will hold it's value better...last I checked Honda Accords are pretty good at holding value...but if I were you I would look it up and decide based on value and personal preference. Probably won't be a truck.

If you do trade in and hardly use the vehicle, you'll lose less money in a couple of years if you try to sell it. Plus you'll have the car around for whenever you need it until then. It won't save you money in insurance but gas money would be saved.

Oh...if you just bought the truck, then you should sell it immediately and take the hit for any money you lose. It will hurt for now but save you money in the long run.

Answer 2

First, look up the blue book value on the truck for private party sales, then sell your truck to a private party.

That is, if:

You are mainly only using the truck to get to/from work. You will save loads of money by not having a vehicle.

Public transportation where you live is reliable. If you live in a big city, sell that truck.

Personally, I finally bought my first car at age 30 because public transportation where I live isn't reliable, nor convenient (I know, after having relied on it for 8 years). I work 3.5 miles from my house and bike when weather is good, but love having the car when the weather isn't bikeable and when I need to get groceries, visit people, and go where I want. I really don't like depending on others for rides!

Don't worry about "riding the bus like everyone else". Walk to work, if you can, and save on bus fare.

Answer 3

Get rid of the truck and use public transportation. It sounds like you are single right now anyways, so it is not as if you are buying a ton of groceries or anything.

If you do buy something big like a large appliance, many places have free delivery so you do not need a truck for that. When you do purchase groceries you can ride the bus, or put the groceries in a backpack if you want to ride your bicycle.

Sell your truck for 15,000 =)

Answer 4

Working to pay off your car is not a nice way to live. Maybe ride a bicycle to work when weather permits and take the bus the other times. 3 blocks from your work seems fairly close.

Answer 5

Depends. Can you get at least $12,000 for the truck?

Seems to me that having a truck just to drive 3 blocks is a waste. In the city I used to live in, you had to walk at least 3 blocks from your parking place to get to work.

I would sell the truck and invest the money you save in a good mutual fund.

Answer 6

Why don't you just ride a bicycle to work? Is even cheaper than the bus, and less poluting. Unless your not able to ride the bike in your area. And use your truck for big things like groceries, and such.

Answer 7

Well it depends on your pride, I stay in DC and parking fees suck a.ss, but I still drive because there are a lot of crazy people on public transportation! Getting a bike would be better

Answer 8

I live in Okla. I would walk to work and keep the truck. You may want to take a road trip.

Answer 9

Three blocks from your work? Excuse me? Can't you walk?

Answer 10

i would take the bus