AAA Study Indicates Car Ownership More Cost-Effective than Ride-Hailing

HYANNIS – Ride-hailing services like Uber and Lyft are popular and convenient, but according to a new AAA study, they may not necessarily be cost-effective.

According to the study, depending on a person’s driving habits, the amount being spent on ride-hailing services may in some cases be twice the cost of actually owning a vehicle.

Looking at nearly 250,000 single rider trips, relying on ride-hailing as the primary mode of transportation would cost on average $20,118 annually.

The study revealed that Boston is the most expensive city in the U.S. for ride hailing, with an average cost of $27,545.

These figures equate to more than double the cost of owning a personal vehicle, even when factoring in the cost of fuel, insurance, parking and the vehicle itself.

“When you look at the cost of owning a vehicle and using a car to commute to work and compare with ride hailing options, it’s still more cost-effective to own a vehicle,” said AAA Director of Public and Legislative Affairs Mary Maguire.

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