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October 29, 2024
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Redefining Car Ownership: A Sustainable Perspective for 2023 and Beyond
In a world filled with noise and wavering environmental commitments, a glimmer of hope emerges—a potential shift in consumer perspectives that could lead to lower carbon emissions. This change revolves around the concept of car ownership and the growing popularity of electric cars. It might seem surprising that someone like me, who is known for advocating active travel modes like eBiking, skateboarding, and walking, is speaking about cars. However, I occasionally leave the bustling life of Central London and venture to my second home in Wales. In Wales, car travel becomes a necessity, particularly when journeying from the North to the South, thanks to Lord Beeching's unfortunate railway infrastructure changes in the 1960s. This lack of foresight pushed countless individuals into car dependency, causing financial hardships due to the absence of affordable alternative transportation options.
Fast-forward to the present, and consider this: What if we moved away from car ownership and instead embraced the idea of sharing cars, renting them when needed, subscribing for holidays, and carpooling with friends and family to minimize the need for multiple vehicles? It sounds like a promising idea, doesn't it?
My 2023 Story:
As someone who has been car-free since 2009, my family and I have become advocates for this approach. In this piece, I'd like to share our 2023 experience. While the year isn't over yet, I've already booked all our future Tesla rentals with UFODRIVE, so I know exactly how much we'll spend.
Acknowledging the Zone 1/2 Lifestyle:
I must acknowledge the unique reality of living in the transport Zone 1/2 of Central London. My primary modes of transportation are eCargo bikes, Brompton bikes, skateboards, walking, and the tube, which suffice for most of our needs. However, it's worth noting that many people in this area still own cars, including my three immediate neighbors. Interestingly, these cars rarely see any use.
Ownership vs. Rental Comparison:
Let's start with a comparison between ownership and renting. One of my neighbors leases a Tesla Model Y Long Range on a PCP plan. The initial cost was £12,000, followed by three annual payments of £12,000 each. If we amortize the down payment over three years and add £2,000 for insurance, the total cost comes to £18,000 per annum. After three years, an Optional Final Payment is still required to own the car outright, effectively making it a rental for those three years.
The Cost Comparison:
Now, let's compare this to the finances of exclusively using UFO Drives in 2023. This figure includes all charging costs for the 72 days (equivalent to 20% of the year) that I spent driving a Tesla Model 3 or Model Y. Astonishingly, this amounts to less than a third of the cost incurred through PCP ownership and even less when considering projected expenses for servicing, tires, charging, and parking—approximately a quarter of the cost!
A Sustainable Future:
We plan to repeat this approach in 2024, 2025, 2026, and beyond. Nearly 50% of Central Londoners don't own cars, and I believe that if people across the nation truly thought about it, they'd realize they only need a car for about 1/5 of the year. It's time to debunk the myth that car ownership is a necessity.
A Shoutout to UFODRIVE:
Lastly, I want to express my loyalty to UFODRIVE. You have one loyal customer right here, and I hope you can soon expand your services nationally to capture all those future converts.
Written by Mat Shreaves.
Redefining Car Ownership: A Sustainable Perspective for 2023 and Beyond
In a world filled with noise and wavering environmental commitments, a glimmer of hope emerges—a potential shift in consumer perspectives that could lead to lower carbon emissions. This change revolves around the concept of car ownership and the growing popularity of electric cars. It might seem surprising that someone like me, who is known for advocating active travel modes like eBiking, skateboarding, and walking, is speaking about cars. However, I occasionally leave the bustling life of Central London and venture to my second home in Wales. In Wales, car travel becomes a necessity, particularly when journeying from the North to the South, thanks to Lord Beeching's unfortunate railway infrastructure changes in the 1960s. This lack of foresight pushed countless individuals into car dependency, causing financial hardships due to the absence of affordable alternative transportation options.
Fast-forward to the present, and consider this: What if we moved away from car ownership and instead embraced the idea of sharing cars, renting them when needed, subscribing for holidays, and carpooling with friends and family to minimize the need for multiple vehicles? It sounds like a promising idea, doesn't it?
My 2023 Story:
As someone who has been car-free since 2009, my family and I have become advocates for this approach. In this piece, I'd like to share our 2023 experience. While the year isn't over yet, I've already booked all our future Tesla rentals with UFODRIVE, so I know exactly how much we'll spend.
Acknowledging the Zone 1/2 Lifestyle:
I must acknowledge the unique reality of living in the transport Zone 1/2 of Central London. My primary modes of transportation are eCargo bikes, Brompton bikes, skateboards, walking, and the tube, which suffice for most of our needs. However, it's worth noting that many people in this area still own cars, including my three immediate neighbors. Interestingly, these cars rarely see any use.
Ownership vs. Rental Comparison:
Let's start with a comparison between ownership and renting. One of my neighbors leases a Tesla Model Y Long Range on a PCP plan. The initial cost was £12,000, followed by three annual payments of £12,000 each. If we amortize the down payment over three years and add £2,000 for insurance, the total cost comes to £18,000 per annum. After three years, an Optional Final Payment is still required to own the car outright, effectively making it a rental for those three years.
The Cost Comparison:
Now, let's compare this to the finances of exclusively using UFO Drives in 2023. This figure includes all charging costs for the 72 days (equivalent to 20% of the year) that I spent driving a Tesla Model 3 or Model Y. Astonishingly, this amounts to less than a third of the cost incurred through PCP ownership and even less when considering projected expenses for servicing, tires, charging, and parking—approximately a quarter of the cost!
A Sustainable Future:
We plan to repeat this approach in 2024, 2025, 2026, and beyond. Nearly 50% of Central Londoners don't own cars, and I believe that if people across the nation truly thought about it, they'd realize they only need a car for about 1/5 of the year. It's time to debunk the myth that car ownership is a necessity.
A Shoutout to UFODRIVE:
Lastly, I want to express my loyalty to UFODRIVE. You have one loyal customer right here, and I hope you can soon expand your services nationally to capture all those future converts.
Written by Mat Shreaves.
