Is It Time to Take the Bus?
Gas is approaching $1.50/l and I just got my ICBC insurance renewal yesterday. So I thought it was time to revisit the economies of my commuting situation.
I drive a 2007 Pontiac Vibe, a nice tight little car that has a good deal of room in the back for groceries, strollers, and I can fold the seats down to stuff my bike in the back (yknow, for when I do triathlons). It’s a good ride, and I lease it for $400 / month.
I have NEVER had an at fault ICBC claim, and my insurance is $1400 a year with my 43% discount.
Jennifer’s car has the car seat in it, since I arrive home from work after the daycare closes, so we use her car for our weekend family outings. So all I really use my vehicle for is to and from work. I can get 10 days out of a full tank of gas, 44l. So let’s say I fill up 3x month, that’s $225 if the gas gets over $1.50/l.
Here’s the math: $125/mo insurance + $400/mo lease + $225/mo gas = $750/mo.
I will leave out repairs and oil changes since I have a new vehicle and those costs are negligible when averaged monthly.
The monthly bus pass to go from North Vancouver to Richmond is $136. Right away it seems like a no brainer to take the bus, it’s a $600+ savings each month, but you’re forgetting about the opportunity cost.
My commute takes about 30 minutes each way, because of the time of day I travel. My radio shift is 2-7, so when I drive to work over the noon hour, or come home after my shift, the rush hour has ended. This is good when driving, but bad if trying to catch a bus – let’s look at the costs of transit.
I used to the Google Transit application to get the routes and schedules for my commute. To get to work for 1p, I would have to leave home at 11. That gives me time to walk the 4 blocks to the bus loop, and time to walk the 1 km to the radio station at the other end. (2hrs) To get home after work, I’d have to take 4 busses and would arrive at Phibbs Exchange at 9:15. (2.5hrs)

So we have 1 hr commuting a day, vs 4.5 hrs commuting a day. That’s an extra 3.5hrs everyday I would spend sitting on a bus, or standing at a busstop. How much is 3.5hrs a day worth to you?
Let’s take the difference in the two commuting costs, $614/mo. Divide it by 4, and it’s $155/wk. That’s how much extra it costs me to drive to work vs taking the bus.
Add up the extra commuting time (3.5hrs x 5 days) and you see it would cost me 17.5 hrs a week.
The savings by taking the bus, over driving amounts to $8.80/hr. Yes, it’s more than minimum wage, but it’s still not enough of a savings for me. I have to compare the $9/hr savings vs the time I lose spent with my family. Time with my family is worth more than $9/hr.
Gas would almost have to hit $3 or $4 per litre before I seriously started looking at transit as an option, the commuting times for my situation are just so out of line with a car’s commute that it just doesnt make economic sense. If my job was downtown, I would switch in an instant, as it would also be within cycling distance in the summer.
So until gas gets ridiculous, transit improves or my employment changes – it’s just not worth it.
What’s your opportunity cost for transit vs car vs bicycle?
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