Is A Car Really Worth It?

By

Automotive Editor

Based out of the Washington, D.C. area, Joel Patel is an automotive journalist that hails from Northern Virginia. His work has been featured on various automotive outlets, including Autoweek, Digital Trends, and Autoblog. When not writing about cars, Joel enjoys trying new foods, wrenching on his car, and watching horror movies. 

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, Automotive Editor - December 30, 2022
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Unlike other countries that have far better public transport and city designs, the United States' poor layout and lackluster public transportation system practically force people to own a vehicle. While some people are against car ownership and believe they can get around without owning a vehicle, there are other factors to consider when thinking about purchasing a car. According to Wards Auto, owning a vehicle can improve job performance and make essential tasks less challenging.

The outlet, citing a new study that was conducted by Open Lending, claims that owning a vehicle can affect one’s earning potential, provide more flexibility, and result in less hardship. Open Lending conducted a study where it asked 597 car owners and 750 non-car owners with their responses being used as an analysis of barriers to car ownership.

Three major findings of the study include professional toll, ownership impacts, and a discrepancy in equitable opportunities. Most non-car owners that took part in the study said that owning a car would improve their job performance, with 64% of that group stating they felt like having access to a vehicle would result in increased earning potential. It’s not just a feeling, as 55% of non-car owners stated that they had to turn down a promotion or a better job because they didn’t own a vehicle.

Respondents also noted a variety of personal and professional inconveniences and hardships that come with not owning a vehicle. Roughly 60% of non-car owners stated that not owning a vehicle made essential tasks and errands more challenging. Additionally, not having a vehicle makes it harder to spend time with friends and family, as 48% of non-car owners attested to as much.

Lastly, when asked to explain how owning a vehicle would change their lives, respondents pointed toward flexibility, independence, and financial gains. These three aspects are considered to be life-changing benefits of car ownership.

Overall, the study found that owning a car is worth it for reasons a lot of car owners may not think about. But there are a few factors that stop people from owning a vehicle. Affordability is one of the major issues. Regardless of annual earnings, 50% of millennials and 52% of Gen Zers stated that they couldn’t afford a car. The car-buying process isn’t easy, either, as just 11% of respondents stated that they perceived the car-buying process as “extremely transparent.”

Source: Wards Auto

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, Automotive Editor

Based out of the Washington, D.C. area, Joel Patel is an automotive journalist that hails from Northern Virginia. His work has been featured on various automotive outlets, including Autoweek, Digital Trends, and Autoblog. When not writing about cars, Joel enjoys trying new foods, wrenching on his car, and watching horror movies. 

Follow On: Twitter

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