White elephant in garage? Economics of owning a car
Hari Krishan Chaudhary
How many of us own a car out of genuine need and how many because our neighbour, colleague or friend has one? I think a majority, including myself, will fall in the latter category having parked a sedan in the garage.
The other day, I read a very informative article in a newspaper. It discussed the economics of vehicle ownership. It was argued that owning a car makes economic sense only when you can log at least 15,000 km in a year. Anything less will mean that you are owning it without any tangible benefit to you in monetary terms as cabs will be much more economical and convenient.
Cabs are available at nominal rates. Gone are the days when cabs charged at their whims. Now, the mobile apps enable you to book a cab which will be at your doorstep in minutes. You get a chauffeur-driven car of your choice which will drop you at your destination. No hassles of self-driving on a congested road focusing all your attention on the road in a bumper-to-bumper scenario.
When you reach your place in a cab, you simply get down, pay your fare and walk to your place. No time is required to search for a suitable parking place, getting a parking token and keeping it safe till you return.
What about the other savings? You save on the cost of fuel as many times you drive alone with the rest of the four seats vacant while the engine guzzles fuel just carrying you and the empty car load. Now comes the real cost of maintaining a pachyderm called car. While purchasing a house, you have to first consider parking space for the car, whether covered, open or both. You have to hire a cleaner for its daily bath, feed it with ample fuel and get it periodically serviced. You may not have your own insurance, but you have to get it covered for accident or theft under the law. And what in return? A spic and span white elephant. Who will appreciate your shining sedan when every other person has it and some even bigger ones? Think of substantial savings, a clean atmosphere and more disposable income if we have fewer cars and cabs taking care of our need for an outing.
I am aware of the parked cars in my neighbourhood gathering dust until their owners take it out one fine morning after much dusting. It refuses to start. Its sleeping battery is startled by the sudden call and refuses to wake up. The engine cranks and stops and after many attempts, suddenly emits smoke from its exhausts and comes to life.
Could we similarly rejuvenate our thoughts to be a bit more sympathetic to our environment, to our pocket, to our grandkids to whom we are bequeathing this earth and to our own peace in doing away with these monstrosities or at least having smaller versions as a first step.
