[Peakster]

Originally Posted by bennelson

If you figure all the money you spend on a car, and instead invested it into a retirement account, you will be set!

Here is what Dave Ramsey has to say about car payments:
True cost of cars video

Wow, that video was awesome! Although saving money in a mutual fund with 12% return is pretty optimistic .

Originally Posted by GenKreton

Here is an older but extremely relevant link about cars versus bicycle costs:
http://kenkifer.com/bikepages/advocacy/autocost.htm

That too is a pretty cool webpage I love this quote:

Some cyclists have told me that I shouldn't even argue the cost issue, as it will do nothing to encourage people to ride. I doubt if anyone is going to completely change his or her way of life from an analysis of the costs alone...

Lol! Well I guess there's now at least one person who's planning to change his life because of costs .

For a true appraisal of the total costs, there are indirect and hidden costs for motor vehicles that are not included in the above figures, which either the owner or someone else must pay. To illustrate, let's follow a car owner to work. She first goes out to her car. If it is in a garage, she either has to pay rent or she had to purchase the garage. If the garage is part of her house, the cost is even greater. If she parks in or uses a driveway, she had to pay that cost plus maintenance, or if she parks in the street, the city must bear the cost, which increases property or sales taxes.

Holy moly. Talk about an eye-opener! It's so true, people with garages in my city pay significantly higher property taxes than the small portion of people who do not (not to mention that a house with a garage will have a higher mortgage payment than one without). Craziness!