What to Know
- Riders who rely on ride-hailing services for transportation spend twice what it would cost to own a car, an AAA analysis found
- The AAA Foundation for Traffic Safety found it would cost around $20,118 per year to rely on ride-hailing services for transport
- That comes out to “more than twice the cost of owning a personal vehicle," AAA Northeast said
City dwellers who rely on ride-hailing services as their primary form of transportation end up spending twice the amount it would cost to own their own car, a new analysis found.
The AAA Foundation for Traffic Safety studied ride-hailing service costs in 20 cities and found it would cost around $20,118 per year to rely on ride-hailing services for transport, AAA Northeast said in a release.
That comes out to “more than twice the cost of owning a personal vehicle, even when factoring in the expense of fuel, insurance, parking and the vehicle itself,” AAA Northeast said.
“Whether you own a vehicle or not, ride-hailing services are a convenient transportation option,” Robert Sinclair Jr., the manager of media relations for AAA Northeast, said.
“However, with the average American city-dweller driving nearly 11,000 miles per year, a personal vehicle is still the more cost-effective choice.”
A vehicle owner who travels around that many miles annually generally spends around $7,321 at most, AAA Northeast noted.
