When I sold my car in 2002, I recall that at that time the average cost per year to run a vehicle was $7000 (Canadian). That cost included everything...insurance, maintenance, fuel, depreciation, etc. With that saving in mind, I budgeted to spend about half that $7000 per year on a combination of alternative transit…bikes/equipment, public transit and the occasional car rental.

My greatest expense is public transit, which is about a grand a year and I spend very little over that amount for all modes of transportation in the whole year. I bought myself a "pretty" bike for a little over a grand and use my "beater" as a workhorse. The cost of running both bikes is so negligible, I consider it almost nil. In fact, if every year someone stole my good bike and I had to replace it with a comparably priced one; I’d still be much further ahead than with the car.

Don’t' forget, the cost of maintaining a car (especially insurance and fuel), have gone up more than the cost of living since 2002 when I sold the car, so I'm much further ahead than the ruff shot cost analysis predicted at the time.

My advice is if you are making an OK income and you are able to sell your car, then get yourself a nice bike and don’t fret about picking up some luxury bike extras as a treat.

Leo