Sunday, September 07, 2008

Confidential To Philadelphia Commuters: Ditching Your Car Can Save You More Than $11,000 A Year

To say nothing of time and peace of mind
Oh, it’s true.
Commuters in Philadelphia can save more than $11,000 annually by taking public transportation instead of driving when gasoline prices and parking rates are factored in, according to a report released Thursday.

Philadelphia ranked fifth of the top 20 cities with the highest public transportation ridership for its transit savings ($946 per month and $11,346 per year), according to the Transit Savings Report, a monthly analysis by the American Public Transportation Association.

The analysis factors in the cost of automobile insurance, depreciation, finance charges and driving 15,000 miles annually, and the savings figure assumes a household gives up a car.
Believe it.

What would you do with an extra 10 grand in your pocket?

Related:
Report: Giving up car for public transit could save $11,000 a year [ Philadelphia Business Journal ]

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