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To Uber or to Own…? That is the Question

By March 6, 2017 May 17th, 2017 No Comments

There are some who choose not to ‘Uber’ in an effort to save up some extra bucks for the next jol – preferring instead to put their savings towards a second hand car. However, according to a Business Tech report, it is Uber that is the option most certain to save you the most moolah in the long run! We break the report down for you below.

There are purse strings attached to owning a car

Many students make the simple mistake of thinking only of the initial purchase, reasoning that the amount which they will have to shell out to purchase a pre-owned car, is the only amount that they’ll need to budget for – but that isn’t the case.

As the proud owner of a new car, you also need to consider how much you’ll be spending on petrol, routine services, overnight parking and parking fees, insurance, car washes, tolls and, of course, general wear and tear. This works out to be A LOT more expensive than most peeps would expect.

In fact, if is to be believed, the average yearly cost of car ownership for a South African is a whopping R111 000! Nuts, isn’t it?? It is almost impossible to think of anyone who could actually afford to pay that amount, never mind students with part time jobs! What’s worse is that if you don’t use the car all that often, your per kilometre cost really begins to increase when you include all the ‘other’ costs.

On a cost per kilometre basis it’s a no brainer

On the other side of the road, the general cost of taking an UberX is about R7,50 – R9,00 per kilometre (although this can vary with the per minute rates of 75c and surges). If you’re living in student digz that are close to campus, and perhaps working in close proximity (i.e. within a 50km radius) then taking an Uber is the clear choice.

In the long term, you’ll be saving so much money – leaving plenty of spare change for a craft beer or two at your fave local hangout, that you won’t have to stress about unpredictable expenses, and you’ll have convenience on your side too. You’ll be able to catch up on those WhatsApp’s that you ignored the night before while you were studying, you’ll have a chance to organise plans for the weekend, or even take a few moments to read the news. Pretty schweet, right?

If you’re not too familiar with the ins and outs of the Uber app, you can learn everything that you need to know about it here.

Remember… if you do already own a car and are worried about the associated expenses, there is always the option of organising ride sharing with some of your mates to rake in some extra cash – but more on that next month!

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