I did some back of the napkin math of my own and this is way of base. I don't live anywhere even close to somewhere that uber operates so it doesn't really matter but it made me think, "am I really spending that much on owning a car?" The per mile number is what got me so I came up with a number myself and I'm way closer to $0.50 per mile.
I have a Chevrolet cobalt that I bought 5 years ago for $6000. I will have this car until it dies so depreciation isn't really a factor. Instead I just divided $6000 by 5 years. I live in Canada and gas here is the equivalent of about $5.29 per gallon. It's been a good car and has only cost me about $2000 per year in maintenance (I do some minor stuff myself). Factor in registration, license, insurance and at 12000 miles per year at my measured fuel efficiency, I come in at a little less than $0.50 per mile.
If it was going to cost me $2 per mile I think I would have to just stay home.
I have a Chevrolet cobalt that I bought 5 years ago for $6000. I will have this car until it dies so depreciation isn't really a factor. Instead I just divided $6000 by 5 years. I live in Canada and gas here is the equivalent of about $5.29 per gallon. It's been a good car and has only cost me about $2000 per year in maintenance (I do some minor stuff myself). Factor in registration, license, insurance and at 12000 miles per year at my measured fuel efficiency, I come in at a little less than $0.50 per mile.
If it was going to cost me $2 per mile I think I would have to just stay home.