Car ownership is also usually necessary if you are going to maintain a job. Unless you live and work in a big city with public transportation, you would have to rely on someone else for rides to work or once again use a bike or walk. Owning your own vehicle allows you to travel to and from your place of employment without hassles.
There is an element of prestige involved in owning a car too. It’s like owning a home. You are showing that you have a sense of responsibility, a sense of financial security. If you do not own a car, you may be viewed as a failure. Sometimes, even the type of car that you purchase can affect the level of prestige that surrounds your car ownership. Buying an electric vehicle, for example, shows that you are environmentally conscious.
There is an element of safety with owning a car. If you were the person walking or riding a bike to work or school, you would be a little safer in a car. Those who walk or ride a bike are in danger of being struck by those who are driving. Traveling in a car is also much nicer when battling the elements such as rain and snow. If you leave work or school at late hours, there is the threat of being robbed while walking alone. Yes, it is true that one can be involved in a car accident or even be carjacked, but the odds are much less than traveling on foot or bike.
Another unique benefit of owning a car is that, should you ever need to, you could use it to help you out of a financial jam. If you needed a quick source of emergency cash, you could use your vehicle for a car title loan. For example, Embassy Loans in Florida could loan you money to pay a month’s rent or cover an unexpected medical bill and secure the loan using your car or truck. The process is quick and you get your money in an hour. Being able to do so is another benefit of car ownership.