I've been asking myself this question, in retirement should I keep our second car or just rely on my eBike and ride sharing services for our second vehicle. The intent here would be to save the cost of the car which in my opinion is pretty significant. You could potentially save the payments, maintenance, repairs, tires, gas and insurance.
In the end I think it's about how many miles you are driving the second card and of course the convenience for those rare times when you need two cars. Ride sharing like Lyft and Uber certainly charge more per mile and so a per ride charge could be $10-$30 depending on how far you need to go.
I recently read and article from AAA where they said the average yearly cost to own a new car is a little over $7300 per year which works out to be about to be about $0.68 per mile based on about 10,000 miles of yearly driving. If you were to Uber or Lyft 10,000 miles, it might cost you around $20,000, clearly in that example owning your own car makes more sense.
But what if you only drove your second car 3300 miles a year, that could be breakeven for using a ride sharing service.
Of course if you buy a lower cost car or a used vehicle, it probably will always make more sense to own your vehicle.
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