How to Save Money When Buying urban city-bus

As the world grows increasingly conscious of the need for environmental conservation, more and more people are looking to public transportation to contribute towards the cause. But did you know choosing public transportation over driving can also have significant financial benefits?

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According to the American Public Transportation Association's (APTA) Transit Savings Report, individuals who ride public transit instead of driving can save an average of $13,000 annually, or $1,100 a month. How are these savings possible? First, when you drive a car, you must purchase or lease the vehicle. On the other hand, when you choose to use public transportation, you only pay a nominal fare, and most often the maintenance and fuel costs are covered by the transit system. According to APTA's Fare Database, monthly public transit fare prices have not increased since while prices for new and used cars have increased since the pandemic, and financing costs have increased due to interest rate hikes.

Gasoline prices have also spiked due to constricted supply and added demand. The rising cost of vehicle purchases can put a damper on some households. Public transportation is a cleaner, greener, and more economical way to reduce overall expenses. Since , the average purchase price of a new car has risen by more than $11,000, which is an increase of more than 30%. In addition, the purchase price of a used car has risen by over $8,000 or 40%.

The Cost of Driving vs. Taking Public Transit

One of the biggest considerations when deciding between driving a personal vehicle and taking public transit is the cost. While driving may seem more convenient, it can also be significantly more expensive.

When comparing the costs of driving versus taking public transit, it's important to consider various expenses. These include fuel costs, parking fees, vehicle maintenance, and insurance premiums. Gas prices have increased to $4 per gallon, or 25% as of September 18.  Additionally, the wear and tear on a vehicle can also result in costly repairs and decrease its overall value. Public transportation, on the other hand, usually involves a fixed cost, such as a monthly or yearly pass. This cost remains consistent regardless of the distance traveled or the frequency of trips taken. Instead of trying to find a parking space which can be a time-consuming task and costly, you can hop on a bus or train in less time.

Also, when it comes to maintaining your vehicle, there are a variety of expenses to consider. From oil changes to brake pads and tires, these expenses can quickly add up. Insurance premiums are another consideration when deciding between driving and taking public transit. While owning a car can be a source of pride, it's essential to remember that with car ownership comes a significant responsibility. Insurance premiums for cars can be expensive, and rates can vary widely based on several factors, including driving record and age. Taking public transit eliminates the need for car insurance altogether, effectively saving you thousands of dollars each year.

'Public transit can be a huge cost-saver for commuters, but that doesn't mean it is cheap. Bus systems have significant capital and operating costs that must be taken into consideration when designing public transit systems. So, how much does a bus cost? The answer depends on a variety of factors.

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Capital Costs of Bus System

For the average local transit agency, bus purchases make up the bulk of all capital costs'the fixed expenses required to get a project off the ground. The cost of each vehicle depends on a variety of features, including size and manufacturer, but the most important factor is typically what kind of propulsion system the bus uses.

Diesel buses are the most common type of bus in the United States, and they cost around $550,000 per vehicle (according to a study). Buses powered by natural gas are becoming more popular, and they cost slightly more than diesel-powered vehicles. Hybrid buses, which combine a gasoline or diesel engine with an electric motor much like a Toyota Prius, are much more expensive than either natural gas or diesel buses. In , the transit system of Greensboro, North Carolina, spent $714,000 on each of its hybrid vehicles. Electric buses are the most expensive on the market, costing around $800,000 per vehicle. Because of their low maintenance and fuel costs, however, they are becoming more common in cities around the country.

Transit agencies usually pay for the full cost of each bus up front, rather than borrowing money as people often do when they buy a car. The federal government pays much of the costs for bus purchases, with the rest of the funds coming from states, local government agencies, and local transit systems. Since there is rarely any debt service, the purchase cost of a bus per year is equal to the purchase price divided by the useful life of the bus, which is typically 12 years.

Bus Operating Costs

In addition to paying for the bus, transit agencies also have to pay to operate the bus. Usually we talk about the operating cost per revenue hour'how much does it cost to drive a bus in service for one hour? Operating costs vary by city; some are relatively high ($215 per hour in New York City and $195 per hour in San Francisco), while others are fairly low ($110 per hour in Dallas and $90 per hour in San Diego).

Of these costs, a majority is made up of employee wages and benefits'about 70 percent. In addition to drivers, transit agencies employ mechanics, supervisors, schedulers, human resource staff, and other administrative employees. Some transit systems'including Honolulu and Phoenix'attempt to save money by contracting out to private operators. Meanwhile, New York City, Los Angeles, Houston, and many other cities operate service directly.

When you consider how expensive it is to operate buses, the cost to carry each passenger can be quite high when the vehicles are fairly empty. For example, if in the course of one hour a bus only carries six people, it could easily cost the transit agency up to $20 to carry each passenger. On the other hand, a full bus that carries 60 people per hour could cost the agency as little as two dollars per passenger, an amount that is comparable to a typical bus fare.

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