Do we need to Own a Car in Cities?
I DON’T think owning a car is necessary in cities. This is only my personal opinion – yours may vary. I know very few people will support me on this, but I need to say what I think. That’s what blogs are for, right?
Limitations of Owning a Car in Cities like Chennai –
- High Upfront Cost – I don’t think there is any car for less than 5 Lakhs in India. A decent car will cost you around 10 Lakh today and the price of cars is only increasing every year. There are umpteen other ways in which you can invest your hard-earned 10 Lakhs instead of owning cars whose value deteriorates by at least 20% once you buy them.
- High Fuel Cost – With petrol and diesel crossing Rs. 100 per liter in most cities, owning cars that give 10-15 KMPL is not exactly any savings.
- High Maintenance Cost – I am spending Rs. 5K to 10K for my 7-year-old motorbike for maintenance. Imagine how much more you’ll be spending for a car that costs 5-10x that value.
- Parking Space – In countries like India, there is very little parking space, especially in the cities. So whether you want to park at home or you want to park at someplace where you visit, it’s going to be difficult – sometimes impossible. People park cars outside their houses on almost every street in India, which only increases risks like scratches and theft, which again results in losses.
- Keeping up with the Joneses – You want to buy the latest and the more expensive car to score a point over your neighbor or colleague? Wait until yours will become obsolete in a couple of years. And then, you’ll be tempted to exchange it, spending money unnecessarily, again.
- Loan Trap – Want to take a car loan. If you’ve taken any loan in your life, you’ll realize that you are paying 2x-3x that value over the repayment term. That means, you are paying more interest than the actual value of the car! Why? The money that goes to the bankers could be spent elsewhere more productively.
- Availability of Alternate Travel Options in Cities – I have been using Metro Rail frequently although I have a bike – Metro is an excellent way to travel, if you have one in your city. Public Buses are a great option during non-peak hours. You can also explore Cabs and Autos for last-mile connectivity or even for the full distance. With a cab, you’ll pay less than just the bank interest for a car loan!
Those are just some of the points, but I am sure you can think of more. When I reapplied for my driving license as it expired some time ago, I just applied for the bike license renewal, not for the car. That was a conscious decision as I never drove a car for the past twenty years and don’t intend to drive one in the future as well.
Destination Infinity
Will give you 2 examples where I have lived. London. You don’t need a car because there is a tube within 200 yards of wherever you want to leave and wherever you want to reach. Los Angeles. You need a car even to buy your grocery because there is no public transportation.
Wow, a city without public transportation should be unique! Ya, in some areas where public transport or cabs are inaccessible, cars may be required.
Destination Infinity
I will agree with you, Rajesh. The situation is the same in Bengaluru as well. Actually, we don’t need a car. We easily survive without it because of many alternative modes of transport.
I have a car because of two reasons. One, I like to go on long drives once in a while. Two, booking a cab is not always a pleasant experience. Many times the rides are cancelled. And we have to keep booking again and again for one ride.
Though I have a car, I don’t take it out often. I take the metro if I can. I take out the car only if I know that there is a place to park.
Yes, I too have experienced that cab disconnecting issue. That’s why I plan for at least one hour buffer while booking a cab.
Destination Infinity
Yes. Cars cause traffic jams in large cities and is no longer a pleasure to drive them. In cities. Motorcycles that way are better.
Tier 1 cities have metro. And people should use them . But who listens?
Once people start using Metro, they will appreciate the convinience…
Destination Infinity
The traffic and lack of parking space always gives me anxiety. I would rather prefer taking cabs or public transport.
But once people get used to the comfort of their cars, they prefer them…
Destination Infinity