Quote:
Originally Posted by travis3000
I did a count of how much I spend a year owning a car. The numbers are staggering and would have many running to get a TTC pass opposed to owning a car. My insurance is $1450 a year, gas is $3500 a year, maintenance is $1000 a year which includes minor repairs/oil changes, air filters, oiling, snow tire removal/installation, etc. Then there's my actual car payment of $300 a month ($3600 a year). Add it all up and I am spending $9500 a year just for my right to own a car. A TTC pass at $1000 a year doesn't sound so bad all of a sudden for people living downtown. Hell if I lived down there, getting rid of my car might become a whole lot more appealing.
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Here in Fredericton, as bad as our system is, the monthly passes are bang on.
Currently it is 2.50$ for a cash ride, or 22.50$ for 10 tickets, or 70$ for a monthly pass.
So a monthly pass is covered after 28 trips. For people using the bus for work, it means the pass is covered after 3 5-day weeks and the 4th week of the month is 'free', not to mention side trips you might take.
In January, the prices are going up to 2.75$ cash, 80$ monthly, so it still stays very reasonable. (On the other hand, they are losing money hand over fist with their YEARLY 50$ senior 65+ pass)
Freddy Transit has ads on some of the buses (that are a bit out of date) comparing bus vs car-ownership costs, and the amounts are very similar to what you saw. Of course the convenience of having a car and being able to GO is another major factor to consider too.
One thing you didn't take into account, is that monthly transit tickets are tax deductable. I can't remember the exact deduction, but you basically get a tax credit for a month or a month and a half worth of your monthly tickets (assuming you bought 12 months worth)