Russell (zimzat) wrote,
Russell
zimzat

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Cars don't pay for themselves

Gee, vehicles are so expensive by the time you make the payment, the insurance, and the gas.

Figuring a payment of $100 a month, $120 for gas, and $200 for minimum insurance, that's over $400 a month. The recommended insurance is $500 a month, which makes it over $700 a month.

hrs/wkgross-25% taxes
$5.15/hr (minimum wage)
40$824$618
60$1236$927
80$1648$1236
$7.50/hr
40$1200$900
60$1650$1237.50
$10/hr
40$1600$1200


Using the above table of figures, you'd have to work at least 60 hours a week at minimum wage to afford an apartment and a car, or 40 hours a week at 7.50, and that's only breaking even with minimum car insurance. With the recommended car insurance you'd have to work at least 80 hours a week at minimum wage, 60 at $7.50/hr, or 40 at $10/hr to break even with it and the apartment.

It almost pays not to have a car, except it's hard to get a job without a car.
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