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I rent and take cabs instead of buy. I've been considering buying for awhile, but as it stands now it simply isn't worth it. Where I live, street parking is incredibly difficult to find, and one is very likely to have problems with car theft over an extended period of time. A rented parking spot is over $300 /month. Meanwhile, I use a car to leave the city approximately 5 weekends /year, and then perhaps one day /week. I'm spending about $500 /year renting cars, and about $520 on cabs. Owning a car would be pleasant, but it's a very expensive purchase given my situation. If you're in a similar position, renting may be cheaper.
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