Great article Sudip.
I feel we can expand this analysis to examine if buying a new vehicle is worth the deal in big cities. This would be particularly interesting for the newer generations.
Apart from the factors you have already mentioned, some others would be
- Parking — certainly a big pain in cities
- Insurance charges
- Annual maintenance charges
- Weekly cleaning charges (if you are using some cleaning service)
- Depreciation cost on your vehicle
- Interest to be paid if you are financing the loan
- Opportunity cost of using the money spent on buying the vehicle. It could be used elsewhere to potentially earn an interest
- ..maybe more