Are you thinking about donating a car to Goodwill of Greater Washington? There are many benefits to making a car donation, such as helping the community, getting a tax deduction, and getting your old vehicle picked up for free. But one of the best things about donating your car might be the amount of money it will save you in the long run.
According to the American Public Transportation Association, people in major U.S. cities can save an average of $9,700 per year by taking public transportation instead of driving a car. These savings are calculated by comparing the results of the 2012 AAA average cost of driving formula to the APTA’s calculation of the cost of using public transportation.
The AAA average cost of driving formula includes the following factors:
- Cost of gas (reported by AAA as $3.48 per gallon in July 2012 for self-serve regular unleaded gas)
- Average mileage of a mid-sized car: 23.1 miles per gallon
- Average mileage of 15,000 per year
- Cost of vehicle maintenance and tires
- Cost of insurance
- Cost of license and registration
- Depreciation and finance charges
- Cost of parking based on data from the 2011 Colliers International Parking Rate Study
The results of the AAA average cost of driving formula are then compared to the price of an unlimited public transportation pass, which usually are available on a monthly basis. The APTA uses the price of unlimited passes based on the assumption that if a person decided to use only public transportation, they would most likely opt for the monthly pass.
The results of this study in the month of July 2012 showed that people in the Washington D.C. area can save an average of $805 per month by switching to public transportation. This would result in savings of $9,661 annually.
Are you interested in having an extra $9,661 in your pocket at the end of this year? Donate your car to Goodwill and take advantage of Washington D.C.’s outstanding public transportation system.