Am I nuts?

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Here's the deal. Back in January my ancient camry bit the dust. Friend of mine gave me one of the 50cc scooters he's got to get around on. It gets me where I need to go within about 3 miles or so, but it's not a permanent solution.

Been saving for a car but I'm getting it in my head that a motorcycle may make more sense. Here's why. Car insurance was $70/m, was using about $45/m in gas so that's like a tenth of my income just for having a car. So I'm thinking just pick up some 80s bike for cheap and daily it. Insurance is like $75 per year and even a thirsty bike will do 50mpg. Unless I'm completely retarded I could get a better bike for $1500 than car.

Financially does this even make sense? I know riding in rain and cold blows but I'm kind of used to it now. I'm just trying to save some money and the lack of running costs on a scooter has been great, it's just too damn slow to haul my fat ass anywhere far.