How much would you save?

Question

How much would you save if you gave up your vehicles(car,truck,etc..) How much do you spend on average for payments, insurance, gas, maintenance, etc. for a year. Even if you couldn't live without your vehicles, how much would you save if you didn't have them. I want to know because I am going to give up my car, and start riding my bicycle. I will save around $3000/year. What about you?

Answer 1

I wouldn't save as much as I paid cash for both cars so no car payments. I don't drive them much so I won't save much on gas either. Since I don't drive them much, my insurance is pretty cheap too. I'd probably save $1,200-$1,500 a year. But some of that would be chewed up on those occassions I needed to rent a car.  

Answer 2

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Answer 3

Both of our vehicles (my husband's and mine's) are paid off, so our expenses are limited to maintenance, repairs, insurance, and registration.

The insurance costs are $888 per year, the maintenance costs are approximately $1,200 per year (varies), the registration costs are $75 per year, and I estimate gasoline costs $3,600 per year.

So, if both my husband and I gave up both our vehicles we would save $5,763 per year, HOWEVER, we would have alternative transportation costs of approximately $1,000 per year if we both took the bus. Therefore, our net savings would be approximately $4,763.