I’m not a purist. I understand that for some people, it’s almost impossible to live car free. But even for households with a few cars, getting rid of just one vehicle can have huge benefits. Scott and Erin, friends from grad school, just sold one of their two cars. So far, it’s working out swimmingly. Check out their foodie blog and recent Pittsburgh travelogue, too.
By Scott Adams
My wife and I sold her car just before Thanksgiving and so far, we’re thankful we made that decision. We made an immediate 9% return on money that was otherwise going into the car payment, as the payment’s no longer around. We then took the sale money and plugged it into a savings account, despite getting chump-change interest on it. (Sorry, that’s my own personal beef with the Federal Reserve – raise interest rates!)
Insurance-wise, we got a $150 refund from our insurer for the unused portion of a policy, plus we’ve now halved our insurance premium. Plus, we’ve got the potential to save more if we drive less. You see, we have Pay-As-You-Drive insurance. If you live in Maryland, and handful of other states, check out Progressive’s SnapShot program. (No, I’m not paid to advertise for them – I’m just a believer in innovative products.) This article even pictures the GPS plug-in for your car.
It’s been two weeks now with one car between the two of us and we haven’t had any “I-need-the-car” fights yet. I take MARC and she’s on Metro, with both us walking or taking the bus on trip-ends. Plus, she just got new lights for her bike, so we’ve got that option for shorter trips.
Overall, we’re enjoying being “Car-Lite,” if not Car-Free. The main concession I still owe my wife for is a bumper sticker she lost in selling her car, so that will be on order soon.