If You Drive A Smart Today, You Can Drive An Exotic Later
Two weeks ago, I wrote about the slings and arrows of car2go membership. A few members of the B&B took issue with my claim that car2go was the cheapest way to operate an automobile. One of them decided to do the math.
And did he ever.
If you have a modern version of Microsoft Excel you can download his spreadsheet at this link. It doesn’t work perfectly in OpenOffice, but other than “Free Software” nutjobs such as myself I doubt anybody uses OpenOffice, so that’s totally fine.
“Being in finance allows me to separate hype from speculation (most of the time),” he notes, and since he’s one of our readers who hails from outside the United States, about sixteen hours by air outside in this case, I’ll give him a pass on the idea that “being in finance” and “speculation” are anything but joined at the hip. The spreadsheet allows you to plug in various values for leasing vs. buying vs. car2go. What I like about it is that it allows you tweak nearly every parameter instead of limiting you to fixed assumptions about pricing or residuals.
Having fussed with the spreadsheet for an hour or so, I can tell you that it is very difficult to make the numbers come out in favor of leasing or owning unless you really get funny with your assumptions or you plan for some very long trips behind the wheel of a Smart. But even TTAC readers who have no intention of ever getting behind the wheel of a shared automobile will enjoy the lease vs. buy calculations.
Some of us, however, require a little more out of our lives than the quiet satisfaction of knowing that one has thoroughly crunched the numbers and reduced one’s transportation expenses to a minimum, all the better to save a million dollars or so in today’s Bernankified fiat currency for an extra thirty days’ worth of life in a nightmarish assisted-living facility at the dementia-ridden end of one’s mortal coil. So our anonymous-by-request B&Ber has thoughtfully added a corner to the spreadsheet that allows one to plan a splurge with one’s savings. It includes a flight to California and an exotic-car rental. There’s even space for some expenses at the Chateau Marmont, where your humble author took a BMW i8 a few months ago and where it is possible, given the right combination of car, cash, and confidence, to engage in unprotected sex with someone who had a minor role in an episode of a made-for-cable sitcom. If that is not an incentive to save a bit on your daily grind, I don’t know what is!
I’d encourage you to download the spreadsheet and try your own calculations. Let us know how it goes. As for me — well, I compared car2go with leasing an Aventador or buying a Viper ACR, and I can state with conviction that the car-share service is definitely the lowest-cost option.
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