Re:Redditors earning $100k+ a year, what are your secrets to...
by krschultz on Friday February 25, 2011 @02:18PM
(#2263412)
Actually, insurance is not the killer in Manhattan. Parking is. Insurance is a very flexible cost.
Although I always assumed that living in NYC, I wouldn't have a car. Take the car insurance, gas, and depreciation costs of the car and put it towards rent and call it even.
So that car ends up being 20-30% more expensive in NY vs. a rural area, or even vs. say Los Angeles, where a parking space runs about $100 a month. This is why so few people living in Manhattan have cars - the net cost is well over $1,000 a month and you might as well just rent all the time.