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When will ridesharing be cheaper than owning a car in Denver?

Last year, Colorado became the third state in the country to allow driverless cars, when Gov. John Hickenlooper signed the new law on the hood of a driverless car.

Credit: CATHY PROCTOR | DENVER BUSINESS JOURNAL

Gov. John Hickenlooper signed a law allowing driverless cars in Colorado last year, on the hood of a driverless Chevy Bolt.

DENVER BUSINESS JOURNAL — In nine years, it could be cheaper to take a ridesharing service like Uber or Lyft to get around Denver than owning a car.

That's the thinking behind a new report from online insurance comparison company QuoteWizard, which proclaimed that the cost of ridesharing will decline "dramatically" when Uber and Lyft start using driverless cars.

Right now, though, using Uber or Lyft to get around town isn't cheap. According to the QuoteWizard report, relying solely on rideshare to get around Denver costs $19.59 per rideshare trip, or $13,755 per year, based on two cross-city trips per day. The cost of car ownership is significantly less, at $8,469 per year, according to AAA.

The big savings, according to the report, will come when driverless cars take over the city's streets.

Read more at the Denver Business Journal: https://bit.ly/2ILnJi6