I just about fainted today when I spoke with Farmers my car insurance. I checked the lease agreement and it said that the deductible was not allowed to be higher than $1000. So I asked what I would save if I pushed it from $500 to $1000. I would save $250 a month. I said yes.
What does this mean? It means in a year I will save $3000 and that more than offsets the risk of having a $1000 deductible. In fact I will save that money and making this change is going to pay for itself.
It also means that my $600 a month lease payment and now the insurance is $200 which makes it $800 with gas $50 so $850. Prior the insurance cost was $450 and with the $50 gas I was paying $1100 a month for the car.
It may not seem big to you, but it is a big savings for me. I rarely use the car. I only have it as an emergency evac vehicle. That may sound silly, but if something happened in NYC I’d like the chance to survive by getting out. Its nice to have a car even if you don’t technically need it. But I don’t need a car and Uber could work at this point for me.
I think Uber is my future, but I just loved the X5 so much that driving the X3 is 90% of it. Really great car.