Get Rid of Your Car Now; You Will Be Free

I had just turned 18. When I saw my friends going to college in their cars, I envied them and I told myself that I should have a car too. Even if my family’s financial condition wasn’t bad, they didn’t buy me a car. So I had to save up my own money to buy my first car. I managed to save money somehow.

I could have taken my father’s car and driven it when I needed it, but it wasn’t enough for me. I had to have my own car, which reflected my style. After long searches, I found one just like I dreamed.

My father was in the car dealing business in the past. I took him with me and went to get the car. I had fallen in love at first sight. The car had a few flaws, even though they told me about them, it didn’t change my mind. We quickly bought the car. Now I owned a vehicle that felt free. It was time to go wherever or whenever I wanted. I was taking my friends and driving around, and when they needed something, immediately rushed to their aid. I have enjoyed using it for years.

I had to move to Istanbul due to work. So I left the car with my family and set off towards my new life. A carless person who uses public transport, changing a few transportations to reach his destination. Getting lost in the crowd, I had to wait a long time. I had to walk in the rain or in the summer heat that melted my brain.

Contrary to the title, how badly did I need a car, right? Of course not. After living without a car for many years and getting to know the city I live in well, I stopped encountering these situations. Driving really started to seem like a difficulty because of these reasons.

Physical Reasons

Traffic jam: I consider it crazy to own a car in a city like Istanbul. During the rush hours, when you go somewhere to spend time at the weekend, you encounter a ridiculous traffic jam. Constantly you have to accelerate, brake, accelerate, brake, your feet go dead from it. Sometimes there are moments when you stop the engine and wait in the same place for a while.

Parking: This problem exists almost everywhere in Istanbul. When you go to the beach, want to sit in a cafe, go to the mall or come home and park on your street. When you want to get your business done quickly, park in places where parking is prohibited and see your car being towed. You add one more layer of stress to your already stressful life.

Time: Apart from the time you lose both in traffic and while searching for a parking place, you actually lose time even while driving. Why would you do it when you can delegate this job to someone else? Let the bus driver or train operator do it, or let the taxi driver get tired in traffic for you. And because they make money, they will do it with pleasure. So you can spend your time reading or getting things done.

Responsibility: Did you insure your vehicle? Winter is here, call the tire shop and make an appointment. You will refuel regularly, don’t forget to have the car washed or wash it yourself occasionally, or the kids won’t hesitate to write "wash me" on the car. Has the annual service date arrived? Even it hasn’t come yet, you should definitely check the sound coming from the engine, it is also essential to find a reliable mechanic. Remember, you can’t go somewhere for a long time by leaving your car behind, the battery runs out, then you keep struggling. There must be money for highway tickets, otherwise, you will have some trouble. The list goes on like this, I’m bored even writing it.

Nature: We see more than one car in every house now. Everyone goes alone to work. Individual vehicle use is on the rise. It harms the environment in every aspect. More fuel, bigger carbon footprint, more roads, more noise.

Financial Reasons

While even the reasons I listed above turn me off from vehicle ownership, the financial aspect of the business seems to be a bigger problem. Most people use a loan to buy a car. It is really interesting to own an instrument that has already lost its value by paying interest. It shouldn’t be surprising that most people look at vehicles as a status symbol rather than a necessity.

If we roughly write down the costs of the vehicle other than the purchase cost, I think no one would say no to the following list:

1. Fuel
2. Insurance
3. Insurance
4. Tax
5. Examination
6. Tire
7. Maintenance/Repair
8. Traffic Fines
9. Highway Tolls
10. Parking fee

It can be a little sad to note down or roughly calculate the money you spend on these items and see how much money comes out of your pocket.

If these numbers still don’t upset you, let’s come to the opportunity cost of the money you spent to buy the vehicle. “Opportunity Cost” is defined in Wikipedia as:

“In microeconomic theory, the opportunity cost of an activity or option is the loss of value or benefit that would be incurred (the cost) by engaging in that activity or choosing that option, versus/relative to engaging in the alternative activity or choosing the alternative option that would offer the highest return in value or benefit “

So instead of buying a car, you can choose to buy a house or go on vacation or invest in stocks. These are all your opportunity costs.

Let’s say you spent 100 dollars on a car you bought five years ago and you spent 10 dollars on the items I listed above every year. Total out of pocket money:

(5x10) + 100 = 150 dollars.

If you invested 100 dollars of your money in the stock market, the money you would have left in your pocket, with an average return of 7% every year. It would be:

100 x 1.07 x 1.07 x 1.07 x 1.07 x 1.07 = 140 dollars.

I did not include the above expense items and assumed that he spent the same amount on expenses such as taxi, public transportation, car rental.

If you want to sell your brand new vehicle after five years, you have to sell it for 40% less than the value you bought, so you have to sell it for 60 dollars.

140 – 60 = 80 dollars loss.

Is owning a car really worth this much loss?

Reasons Based on Lifestyle

For more than a year, we have worked remotely. My wife and I started living the Digital Nomad lifestyle. As such, we do not stay in the same place for long. We change cities or go abroad. The places we go are often places we don’t know. The easiest way to explore it is on foot. We like to walk a lot. When we can’t find the opportunity to the wall, we use taxis, services such as Uber, Bolt, shared vehicles, or public transportation. If these are not a solution, we prefer to rent a car.

Everyone’s lifestyle or choices will influence their decision. Owning a car in our way of life means being attached to a place both physically and financially and leaving it to rot in the garage. Why should I pay for a product that I can’t use for a long time?

I think it is better to invest for the happiness of my future.