I for one, with increasing frequency, have been thinking about how I can reduce my time behind the steering wheel. Perhaps, I could use my bicycle more. It certainly would be the cheapest option, but I have been thinking more along the lines, of purchasing a scooter (moped). With a moped, I could get everywhere in Topeka, as quickly as I could in my car, without using the amount of gas, that my car uses.
Figuring that with higher gas mileage, the little vehicle on 2-wheels would be a cheaper way to get around locally. But is it. Well, thanks to one of my readers, I found a site, that would actually help me (and you) to determine, if a scooter really is the answer.
With mileage of 80 mpg or more, a scooter can obviously save you money at the gas pump. But there are other factors to think about, including: When would you break even? Try the calculator below.
- MSN Money Central
Here are some numbers I used
Your current car's gas mileage: 25Gas mileage for the scooter you want: 94 (estimated)
Price per Gallon: $4
Miles you currently drive per week: 90
Miles per week you can use scooter: 80
| Amount you could save per week | $9.40 |
| Over a year, you could save | $488.58 |
Years to break even 9.88
Your current car's gas mileage: 25
Gas mileage for the scooter you want: 94 (estimated)
Price per Gallon: $3.59
Miles you currently drive per week: 90
Miles per week you can use scooter: 80
| Amount you could save per week | $8.43 |
| Over a year, you could save | $438.50 |
Years to break even 11.83
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go ahead share your thoughts with me now.
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My results came to 1.53 years to break even. That's figuring these real-life numbers based on my junk of a truck and the scooter I currently own - a 2006 Honda Big Ruckus.
ReplyDeleteYour current car's gas mileage 12
Gas mileage for the scooter you want 70
Price per gallon $4.00
Miles you currently drive per week 250
Miles per week you can use scooter 250
Amount you could save per week $69.05
Over a year, you could save $3,590.48
Purchase price for scooter $5,200.00
Yearly insurance $185.00
Years to break even 1.53
By all means, I can not stress this enough, and may have stressed this on your blog before (or somebody's)... if you get a scooter, make sure you get a name brand one. Do not waste your money on a chinese knockoff, it's pretty much guaranteed to completely break down within a year and you won't be able to get parts for it, nonetheless anyone willing to try to fix it. Good luck even getting someone willing to inspect it. I made that uninformed mistake last year and I'm still paying my sister back for it (and it's still sitting out behind her house).
I drive my truck probably once every two weeks now. I'll need to come up with some gas money for it soon to pick something up from my mom's place. But I will continue to swear by the scooter (and have every intention of continuing to ride it during the winter).
Sounds like a good idea if you're only driving 90 miles a week (I commute 160 miles a week to work, let alone weekend trips!).
ReplyDeleteHowever, keeping the car for only doing 10 miles a week seems insane. The car will depreciate. If you only use it in bad weather, surely a taxi for the odd trip would work out cheaper than keeping the car?
If you sold the car the funds could either be invested or used to pay down some debt - so there is an opportunity cost of keeping money tied up in a vehicle you don't use.
Have you studied on insurance rates? I live in a state that has high insurance rates for these bikes, so this is something you need to consider. Also, you will need the gear--helmet, gloves,whatever else.Plus you're 40, your reflexes are slowing down, and how attractive do you think road rash, or worse, is on a 40-year old? In our city, we lose someone to bike (any type) accidents approx every two weeks.
ReplyDeleteAnother subject, I didn't see any mention of any prior marriage or serious girlfried on your financial history post. Do women appeal to you? Do you still have the land that you purchased?
Anonymous -
ReplyDeleteyes, insurance rates were part of the formula MSN included. No, I didn't figure the buying of a helmet, last time I had a cheap used one (which I rarely used), and if I were to actually get a scooter (which I'm not, after seeing these figures) would be the same this time. The allure of the scooter is the wind blowing in my hair. Something, I can still do legally in Kansas as Kansas has no obtrusive big-brother helmet law.
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I sold the other property and used that money to pay cash for this house (much smaller land though).
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Yes, I love women. Currently, though I have no serious girlfriend, although there is a gal that I am interested in. Whether anything develops there, only God knows. I have never been married.
first focus on the bicycle kevin.
ReplyDeleteI have a bicycle...the one I currently was bought at a closeout sale, when K-mart filed bankruptcy.
ReplyDeleteDon't use it much, although it would be great to get me to nearby places, like church and neighborhood meetings (I often walk to these) it wouldn't be as good to get me to work, downtown or other areas of town.
It would however, help me to get into shape better.