|Piaggio Fly 50|
I wouldn't be going completely carless, which is why this decision is easier to make. My grandfather, who passed in April, owned a pickup truck that will be put in my name soon. I don't need two cars, and having a truck is beneficial with my rental properties.
The next logical question you might ask is, why not just sell the car, keep the truck and be done with it? Why do you need a scooter? I want a scooter. There, I said it. Even the ultra frugal have material desires from time to time. But from a practical standpoint, it also makes sense:
- The truck has terrible gas mileage - only clocking about 20 MPG on the highway and less in city driving. My Piaggio Fly 50 averages 114 MPG. If I drive 100 miles per week on the scooter instead of the truck, I will save about $15/week on gas. Annual Savings: $800+
- It is a 2002 model, so there is the cost of upkeep as well. I estimate that upkeep on the truck is about $.20 per mile while the scooter is closer to $.02 per mile. Based on 100 miles per week, the annual savings are $936.
My out the door cost for the scooter was $2,600. That includes taxes, title and other government fees. In less than two years the thing pays for itself. As a bonus, I expect the proceeds from selling the Corolla will cover the cost of my scooter.
If that weren't enough, I'm even toying with the idea of selling the truck once the title is transferred to me and going vehicle-free. There is an Enterprise within walking distance of my house, so why not just rent a car as needed? Before I go that far I will have to do a cost-benefit analysis to make sure this makes financial sense.