8 Things Your Family’s Second Car Doesn’t Want You to Know (Shh!)
You’re so busy; you can’t do without owning a second car. But is it a necessity or just convenient? Here’s
You’re so busy; you can’t do without owning a second car. But is it a necessity or just convenient? Here’s the tradeoff:
- Your first car spends more than 95% of its life parked. (The average car is on the road about 0.8 hours a day; second cars are driven even less than first cars.)
- In the first five years of your second car’s life, it will cost you about $8,469 a year, on average, to own and operate.
- That’s $23.20 a day, whether you use your second car or not, or four Grande Vanilla Lattes from Starbucks.
- If you live and work in urban Honolulu, it can cost an additional $500/month, or $6,000/year, in condo and work parking fees.
- In just one year, your second car will cost you $8,469 + $6,000 = $14,469.
- $14,469 = 2,894 vanilla lattes (that’s one latte every day for the next eight years!)
- Or roundtrip tickets from Honolulu to London, Bali, Buenos Aires, Barcelona, Osaka, Reykjavik, New York, Sydney, and then Singapore. One after another.
- Or you could pay off 40% of the average student’s loan debt.
When you book a Prius as a Hui member, it costs about $9.95 an hour and you’ll only be paying for the times when you use it with gas, insurance, maintenance, cleaning, depreciation, and storage are always included.
So, to recap, $14,469 ÷ $9.95/hour = over 1,400 hours of driving time. And, at our day rate of $79.95, that’s enough for a weekend adventure, every weekend, and $3,000 extra for your next trip off the rock!.
See you in Bali!