Priceless

Okay.. so i bought a new old car recently.. and I'm going to do a price comparism/cost analysis as to changes in costs.

I bought the car for X dollars, which is a SUNK cost, meaning that the cost will not be factored into the decision making process.

So, before I had a car, I had to trouble somoebody to give me a lift to the train station everyday, which does not entail a real cost BUT there is still an intrinsic economic cost to that someone's time and effort; no matter; we can assume this cost to be zero at the moment for simple calculation purposes.

And everyday, I would have to take the taxi from the train station back home. This usually cost me about 7-10 dollars. And there is the problem of waiting time as taxis may not be readily available at certain times of the night, which would translate to a cost - opportunity costs, and the intrinsic value of the waiting time.

To sum it up simply, pre car, the cost of getting to and back from the train station would be 10 dollars sans all the intrinsic costs.

Post car:
Weekly petrol: $50 (mostly used up on the weekends driving around)
I would have to say that getting to and from work would cost about.. 30dollars MaX? which would work out to 6dollars a day for 5 workin days(but i seriously think it is less thant $6).

Parking fees: $3 per day.

Total costs to get to n from the station: 3+6=$9
still one dollar ahead of pre car...

The option to drive all around as and when I want to:
PRICELESS

For everything else in life...

=D

Read also:
Option to ride
Option to ride II
Riding a bus