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5 Reasons Renting A Car Is Better Than Owning In NYC

nyc car rentals

By RealCar, the sponsors of this post

In New York City, renting a vehicle is often more economical and almost always more convenient than owning one. Up until recently, renting usually left a driver with one of two options: a luck-of-the-draw budget sedan, or showy specialty sports car with an even showier price-tag.

In the last few years, however, more and more options have become available for those drivers who don’t want to sacrifice comfort and quality when renting a vehicle at a competitive rate. For example, with luxury rental services provider RealCar, you can drive a premium, pristinely-maintained vehicle on-demand without the headaches and recurring costs of owning a car in the city.

A few clear advantages of renting instead of buying in New York City:

1. Save On Parking

With monthly fees for parking in New York City reaching parity with the cost of some small apartments, parking alone has become a significant cost in owning vehicle here. Depending on the garage’s location and amenities, it can run over $1000 per month just to park your car. Renting frees you of this potentially five-digit annual cost, letting you pay for parking only when — and where — you need it.

2. Save On Maintenance

Natural wear and tear is an inescapable fact of owning a car. Most car owners invest substantial time and money into the maintenance of their auto throughout its life. The more miles you put on, the more you can expect maintenance costs to swell and the more regularly your vehicle will require service.

New Yorkers are notoriously busy and simply don’t have time to worry about servicing their auto. Renting frees you of the cost and responsibility of maintaining a car, allowing a rental company like RealCar to handle that for you.

3. Save On Tax & Insurance

At nearly 9%, sales tax in New York City is no joke — especially on big ticket items like luxury cars. When renting, however, you only pay tax on the amount of vehicle you actually use. Insurance rates, while they’ve become more competitive in recent years, will still set you back a few thousand dollars per annum.

Most credit cards today offer great deals on rental car insurance, again allowing you to pay for just what you use whenever you choose to drive. The Chase Sapphire Reserve is a great option for this.
nyc

4. A New Car Every Time

By renting from a premium service provider like RealCar, every time you drive you’ll have a pristinely-maintained vehicle of your choice, complete with the latest safety features and technology.

5. A Different Car for Different Occasions

Owning saddles you with one make and model for years at a time, but what kind of vehicle you need can vary from season to season, occasion to occasion. A convertible is perfect for a couple in June, but a potential disaster for a family of five driving upstate in February. For functional business travel, a budget sedan might be all you need; but when you’ve got clients to impress, you’re going to need something better apportioned.

Is Renting Right For Me?

Renting may not be for everyone; but for those who don’t drive frequently, who need a different vehicle for different occasions, and who want to save time and money on parking and maintenance, it’s often a more convenient and economical alternative to owning. Now, with services like RealCar that offer door-to-door delivery and pick-up, and quality vehicles by brands like Porsche and Land Rover, it doesn’t have to be any less luxurious either.

Have you rented or owned a car in NYC? Share your experience in the comments below! 

*A big thanks to RealCar for sponsoring this post and supporting Jessie on a Journey! 

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Hi, I’m Jessie on a journey!

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2 Comments

  1. Nikki (NYNomads) on June 21, 2017 at 11:11 am

    I whole-heartedly agree with this! Parking in general is a hassle in New York, as I’ve realized in the brief time since I arrived here a month ago.

  2. Gene Lawson on July 27, 2018 at 9:09 am

    When a person amasses all the quotations, he will definitely find renting a convertible will be miles cheaper than purchasing a vehicle in NYC. Because if an asset values, then purchase it, but if that asset devalues, then renting will be the best choice. And I can say that an intermediary is one of such prized-antique whose assessments tends to fall over time. That does not mean we will never buy a vehicle. Of course, we will, especially in that case when we totally rely on it for our conveyance. From my slant, purchasing a speed machine just to maintain a status is not a great idea. Basically, a speedster consists of various electronic and mechanical components that need to be operated on a regular basis to keep them in a peerless shape. Thus, if anyone hardly needs his road companion for transportation, then no need to buy, better he should rent because renting an intermediary will not only save the wallet on repairs but also on monthly EMIs, insurances and other car expenses.

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