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Quote to Live By

Latest Trend: Getting Rid of a Car Once and for All

The escalating costs associated with car ownership are prompting a growing number of Americans to reconsider their need for a personal vehicle. With auto insurance premiums surging by over 50% in the past four years and new vehicle prices increasing by 20% during the same period, the financial burden of maintaining a car is becoming untenable for many. Additionally, the average annual expense of owning a new car now stands at approximately $12,000, as estimated by AAA.

For some, like Dan Ekenberg, a semi-retired website designer from Boise, Idaho, the decision to forego a vehicle has led to significant lifestyle changes. Ekenberg, who has a long-standing passion for cycling, opted to sell his truck in 2021, a move that has allowed him financial flexibility. "I would rather use that (monthly car payment) to take vacations," Ekenberg stated, highlighting the alternative benefits of his choice. When considering a new vehicle purchase recently, he ultimately decided against it, explaining, "I wasn't looking for anything extravagant. In fact, the simpler, the better."

The trend towards reducing car usage is also supported by various state initiatives aimed at promoting alternative transportation methods. Colorado, for instance, has introduced tax incentives for electric bikes, recognizing their role in reducing greenhouse gas emissions.

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A Quick Look at the Latest Tweet

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