Daniel Bortz at Money Magazine writes: This Is How Much You Could Save If You Got Rid of One of Your Cars
Where I give personal financial advice:
Know Your Baseline
First, understand how your family racks up mileage, says Atlanta financial planner Brandy Wright. In particular, look at how often you use multiple vehicles at the same time; consider not only commuting but also night and weekend trips.
If you doubled up only a few times a week, you’re a strong candidate for downsizing, says David Levinson, a civil engineering professor and researcher at the University of Minnesota’s Center for Transportation Studies.
Then, to compare costs, understand what you’re spending now. Charge all your gas purchases? Check your account statements to see last year’s damage. Add what you spent on maintenance and insurance. If you have a lease or loan, factor that in. Average new-car payments were about $482 a month last year, Experian says.