Uber hasn't hit its 10th anniversary yet, but in that short amount of time it’s changed peoples' convenience of getting from here to there without having to park and all the hassles that go with having a car.
So, the big question is - is it WORTH getting rid of your car? Will it save money in the long run?
According to AAA Texas, the answer is NO. “On average, across the United States, it’s about $20,000 a year to use a ride-hailing service, versus about $10,000 to own a vehicle,” says AAA Texas’ Daniel Armbruster.
You read that right - Uber is TWICE as expensive.
Check out the average annual cost of a ride-share service in 20 U.S. cities:
Atlanta - $17,741
Nashville - $26,397
Austin - $19,821
New York - $21,279
Baltimore - $19,917
Philadelphia - $23,201
Boston - $27,545
Phoenix - $17,436
Chicago - $22,020
Pittsburgh - $18,940
Cleveland - $20,091
Salt Lake City - $18,866
Dallas - $16,944
San Diego - $17,316
Denver - $20,434
San Francisco - $21,972
Los Angeles - $17,951
Seattle - $23,951
Miami - $17,339
Washington, D.C. - $21,093
Owning a car, even with insurance, gas, maintenance, tolls, oil, repairs and the myriad of expenses involved in keeping four tires going round and round is half what you’d pay to use your phone as your primary means of transportation.