Cost of Leasing a Car vs Uber/Lyft[
I have computed whether it is feasible to using Uber/Lyft instead of leasing/owning a car in the future.
Here are the assumptions/conditions for leasing a A Mercedes GLC 350e:
- costs you $450 per month for lease, which allows use to drive 7500 miles per month and charges you about 0.25 dollars per mile;
- the car registration fee is california would be $604 per year;
- the car issurance is about $720 per half year
- gas price is about $4 per gallon for premium and MPG is 25.
For using UberX, the price can be found from Uber’s website:
- booking fee is $2.2 per trip;
- you need to pay $1.6 per mile;
- the minimum cost will be $7.2 per trip.
Here we ignore the waiting time, which you need to pay Uber; and the parking fee, which need to pay if you drive by yourself.
The monthly cost of using UberX can be computed as:
The monthly cost of leasing a car can be computed as:
The result is shown in the figure below:
The result is also available in Google Spreadsheet