James D. Schwartz of The Urban Country recently calculated that Americans work on average two hours out of every day to pay for their cars. Now he’s figured out that a bicycle costs only 3.84 minutes. And that’s being conservative, assuming you’ll drop $1,500 on a new commuter bike every five years, after which it will have zero value.
$1,500??!! I’m not willing to pay more than $200 for a complete working bike.
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