Summary of The Insane Cost of Cars

00:00:00 - 00:20:00

The video discusses how cars are much more expensive than people think they are, and how this cost is not just borne by the individual, but also by society. He suggests various alternatives to car ownership, including public transportation and biking.

• 00:00:00 The video discusses how car owners typically underestimate how much owning their car cost by 52%. This is from a recent representative study of about 6,000 people. The study found that cars cost about twice as much as we think they do. This is just half the problem. In Germany, where gas and labor costs are high, owning a Volkswagen Golf which is a tiny car cost more than 7,600 euros a year directly to the owner. A tiny Opel Corsa which you could probably not even buy in the US these days came out just under 7,000 euros a year. A fancy Mercedes SUV above 12,000 euros a year also costs society an additional 4,600 to 5,200 euros a year as owners pay nowhere near enough taxes and fees to pay for building and maintaining roads and parking. Cars are insanely expensive to both the individuals owning them and also to society.
• 00:05:00 The video discusses the relative costs of various transportation options, including cars, bikes, and public transportation. It estimates that, on average, car ownership is more expensive than public transportation, and that a car share program costing 10-30 Euros per day is cheaper than owning a car. The video concludes that, for most people, car ownership is more expensive than public transportation, and that car share programs are cheaper than owning a car.
• 00:10:00 This video discusses the insane cost of cars, which can be four to five times as much as public transportation would cost a city. For example, in Berlin, an oopal Corsa costs 11 times as much as public transportation would cost, and the government still makes revenue from things like ads into Subway stumps. In fact, just the government giving drivers free parking alone costs as much as completely free public transportation would cost a city. This system could be replaced with businesses paying the city rent for the space they use, trees could be planted to create alleys, and bikes and scooters could be parked on the sidewalk.
• 00:15:00 In this video, the presenter discusses the various costs associated with owning a car, and how people can underestimate these costs. He then goes on to suggest various alternatives to car ownership, including trains, bikes, and public transportation. He finishes the video by discussing the importance of thinking about one's full costs before making a financial decision.
• 00:20:00 The video discusses the high cost of cars and how people can save money on transportation by using public transportation or biking.