In Manhattan, owning and driving a car is very different from driving in most other places.
Apart from the frustrating gridlock, there are numerous city-centric cost consideration and logistical hassles to keep in mind before you can throw a caution to the wind and get a car to call on your own.
This biggest problem of owning a car in Manhattan neighborhood versus other areas is the high cost of parking your car.
If you want to buy a house in Manhattan that comes with its own spot, you can expect to budget anything from $60,000 to $150,000 for the final price tag.
In Manhattan, if you park your car illegally or you owe over $400 for parking tickets or camera violations that are in judgment, your car will be towed.
Towing fines might range from $150 to $200, plus daily storage cost at impound lots ranging from $50 to $80. Car theft in Manhattan is not much of a problem anymore.
In the early 90’s, Manhattan had over 100,000 reported car thefts, one for every 50 residents. But in 2018, there were just 7,400, or one per 1,000. That’s a 96 percent drop in the rate of car theft.
Why did this happen? Car theft has fallen, nationally and especially in Manhattan, because there has also been a big shift in the economics of car theft. Stealing of cars has become harder than it used to be.
It also becomes less lucrative and it is more likely to land you in jail…