Does that math include repairs, gas, insurance, etc? The average monthly cost of owning a car in California is ~$500.
It also sounds like you might be an outlier, the average used car cost is much higher than that[2], let alone new[3]. It's ok to not fall on the average, but it is important to notice when you do.
I chose the expensive one. The RadPower is a lot - a LOT - cheaper. The Tern is a bit nicer but not 3x nicer; just as with cars, there's diminishing returns on price, but I had the money and wanted to get the nicer one.
But at $0.10 vs $0.50 per mile of operating costs, the TCO is much lower than an equivalently priced car. I bought the bike planning on getting at least 10 years out of it. My road bike is 17 years old and going strong, which is better than I can say for any car I've owned
