Downsizing to one car in retirement...

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helloeveryone
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Downsizing to one car in retirement...

Post by helloeveryone » Fri Jan 05, 2018 4:37 pm

Question for those who are retired couples with 1 or 2 cars...

I’m 20+ years away from retirement but am just curious about what happens when both members of a household are retired in terms of cars. Is it better to downsize to 1 car, and if the need ever arises where both members need the car you just use a service like Uber/Lyft etc...? Thinking about it today that seems cost effective - get rid of a car and all the associated costs (insurance, annual tax, gas, maintenance). Paying for Uber/Lyft once in a while is way cheaper.

But maybe the inconvenience of having to share is not worth it??

Chadnudj
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Re: Downsizing to one car in retirement...

Post by Chadnudj » Fri Jan 05, 2018 4:43 pm

I'd say this depends greatly on your lifestyle, activities, where you live, etc.

I'm nowhere near retirement, but my wife and I make do with 1 car -- but we can only do that because we live in a big city with good public transportation/good Uber availability/plenty of stuff walkable near us, and because our lifestyle/activities right now don't require a 2nd car (she drives to work/kids to daycare every day, while I take the bus/train to work....on weekends, our activities largely revolve around family stuff with us seldom splitting up to do our own thing, and even then public transit/Uber/rides from friends can fill in more cheaply than a 2nd car).

If we were older, and doing our own activities separately, or in a town with less public transit/less walkable/less Uber? Maybe not as easy to get by without the 2nd car.

Of course, you could always have a 2nd car, and just make sure it's a (relative) beater -- if you're doing the Boglehead thing and only buying cars every 10 years or until they die, maybe rather than trading in the older car you just keep it for the (rare) times you both need a car?

Heidi
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Re: Downsizing to one car in retirement...

Post by Heidi » Fri Jan 05, 2018 4:52 pm

My wife and I have been retired for 17 years and 4 years ago we decided to go to one car. There have a been probably 3-4 time per year that it has been necessary to ask for favors from friends in getting someone. As late as yesterday I had to use Uber for the first time which went very well. I am 81 and my wife is 78 and we are getting along very well with one car.

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dm200
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Re: Downsizing to one car in retirement...

Post by dm200 » Fri Jan 05, 2018 4:59 pm

We still want/need 2 cars. I have zero patience for my wife's "need" to go to many places shopping and spend a lot of time at each place.

We have gone to older cars - because the net cost os lower AND we can get along with one, if necessary.

Point
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Re: Downsizing to one car in retirement...

Post by Point » Fri Jan 05, 2018 4:59 pm

Zip car is also an alternative to the 2nd car problem.

If you live in fire danger areas as we do, the car you keep should be gas.

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midareff
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Re: Downsizing to one car in retirement...

Post by midareff » Fri Jan 05, 2018 5:01 pm

I am retired 6 years, my wife 7 but she is from BKK and we have been together in the USA almost 6 years. We have one car.... we go everywhere together. People say, on occasion, we only see you together how do you do it? I (we) generally smile back and say; "It's easy, we still like each other." . As far as doing things separately, she spends time on her computer and I spend time on mine. They are in different rooms. .. LOL, other than that we still like each other and go everywhere together. Really, why would I go somewhere without her and visa versa.

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Re: Downsizing to one car in retirement...

Post by Jack FFR1846 » Fri Jan 05, 2018 5:09 pm

It depends where you live. If you're in an urban area, Uber and zip car are options. We don't plan to move when we retire and the nearest business of any kind (except a small post office) is 4 miles away. This would make Uber too expensive (take me to the mall.....that'll be $28.50) or zip car (we can walk to the nearest ones that are 15 miles away?). We'll absolutely have at least 2 cars. I may even go back to having 2 practical cars and a toy car.
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cfs
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Re: Downsizing to one car in retirement...

Post by cfs » Fri Jan 05, 2018 5:11 pm

Retired in 2014, wife owns a car, I own a truck, but we do a lot of LUng Distance Walking. No changes on car ownership. Good luck and thanks for reading ~cfs~
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carolinaman
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Re: Downsizing to one car in retirement...

Post by carolinaman » Fri Jan 05, 2018 5:20 pm

One car would not work well for us at present, ages 73 and 75. We live in sprawling suburbs without public transportation. I suppose Uber could work sometimes. Both wife and I have social/church/civic obligations and never at the same time and place. I go to the Y 3 times a week and try to play golf once a week. She meets friends for lunch and plays cards once a week. Once we slow down it may make sense, but we are not there yet. I average using the car 2 to 3 times a day and wife 1 or 2. Also, we would have to agree on the car. She likes big cars like an Avalon and I prefer Camry or equivalent.

rec7
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Re: Downsizing to one car in retirement...

Post by rec7 » Fri Jan 05, 2018 5:27 pm

We always had a 1950's family. Dad worked mom stayed home. We always had one car and made it work. Big money saver.
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munemaker
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Re: Downsizing to one car in retirement...

Post by munemaker » Fri Jan 05, 2018 5:36 pm

This is going to vary based on my personal circumstances, and you can't come up with a general guideline.

- rural or urban area?
- alternative transportation available?
- Do you do everything together or have separate activities? I go to lunch with a group of guys and she plays cars with her women friends, for example.
- How tight is your budget?
- What stage of retirement are you in?
- How active are you? Maybe one of you skis or bowls or engages in some activity that the other doesn't? Seems like we are always on the go (usually together, sometimes separately) compared to some friends who like to stay at home all the time.

My wife only drives her car about 150 miles/ month compared to about 1,500 miles/month on my car. But there is no way we would want to give up one car at this stage. Maybe later on. I have been thinking about buying a sports car, which would be a third car.

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Re: Downsizing to one car in retirement...

Post by neilpilot » Fri Jan 05, 2018 5:43 pm

munemaker wrote:
Fri Jan 05, 2018 5:36 pm

My wife only drives her car about 150 miles/ month compared to about 15,000 miles/month on my car. But there is no way we would want to give up one car at this stage. Maybe later on. I have been thinking about buying a sports car, which would be a third car.
I don't see how you can maintain an average of 15,000 miles/month. That's almost the equivalent of 75 hours/week of driving. Do you lend your car out; drive for Uber and/or Lyft?

curmudgeon
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Re: Downsizing to one car in retirement...

Post by curmudgeon » Fri Jan 05, 2018 5:56 pm

I have thought about this. If the costs were important, I might think about going down to one car. My wife is more prone to going out and doing activities with friends, while I like projects around the house and walking in the nearby park system. Stores and such are not really in practical walking distance from our house. We have one small SUV that we drive for most usage, and a pickup which we use for hauling bulky stuff or as a second car when needed. It's quite rare that we are actually using both vehicles at the same time.

If I didn't value the pickup for hauling purposes, I might buy an off-lease Nissan Leaf as a second car. It would handle most of the random around town driving miles cost-effectively, while extending the lifetime of the other more expensive car and still give us a second vehicle for the occasional times when we wanted one.
Last edited by curmudgeon on Fri Jan 05, 2018 6:59 pm, edited 1 time in total.

RudyS
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Re: Downsizing to one car in retirement...

Post by RudyS » Fri Jan 05, 2018 6:00 pm

neilpilot wrote:
Fri Jan 05, 2018 5:43 pm
munemaker wrote:
Fri Jan 05, 2018 5:36 pm

My wife only drives her car about 150 miles/ month compared to about 15,000 miles/month on my car. But there is no way we would want to give up one car at this stage. Maybe later on. I have been thinking about buying a sports car, which would be a third car.
I don't see how you can maintain an average of 15,000 miles/month. That's almost the equivalent of 75 hours/week of driving. Do you lend your car out; drive for Uber and/or Lyft?
Funny. Seriously though, as was said by others, it all depends on alternatives in your location as to whether you can make this work. Up until DW stopped driving, we always had 2 cars, one of which was a station wagon for hauling "stuff."

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Re: Downsizing to one car in retirement...

Post by J295 » Fri Jan 05, 2018 6:12 pm

I'm retired and my wife sells real estate part-time. We are each 58 years old. When one of our older cars went down a few years ago I sold it to our mechanic and we now just drive one vehicle (2016 Lexus SUV). We like the large vehicle for long distance travel, grandchild, carting around elderly parents, etc.

One car wasn't so much a financial decision (although for us it makes great financial sense), but I just didn't see the point of two cars for us in our current situation. Since it was my decision anytime there is sniff of any conflicts on travel I take Uber/Lyft. It happens about 8 times a year; so no problem at all (I introduce myself when I ride and say I prefer to read when riding and then read a book during a nice peaceful ride).

I'm also the guy who, when first daughter turned 16, gave her my SUV and then rode my bike to/from work, etc. for a few years .... at that point I was seriously saving $$$ and didn't want the expense of another car (eventually the "fleet" was 5 cars, but now we're down to 1).

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Re: Downsizing to one car in retirement...

Post by neilpilot » Fri Jan 05, 2018 6:17 pm

I would not consider going down to 1 vehicle unless our budget was very tight. While it's relatively rare that both cars are in use, I still DIY the majority of car maintenance, which is somewhat recreational. I can now afford to garage a car for a few days to save on parts and/or if I need to pace myself in completing the repair. If we went down to one car, I'd likely need to have more repairs done in a shop, and still be without transportation.

Since our cars are older [2008 at 145k miles and 2002 at 135k miles] they are well depreciated, so the capital tied up in vehicles is at or under $5k each. The insurance for both totals under $700/yr. If we shared a single car, we would likely not save much on variable cost (gas & maintenance) since that one car would be driven about the same total miles as our two and require the same (or more) maintenance dollars as the 2 cars we have now.

So I might save the opportunity cost of one car's capital ($5k @ 2%/yr) plus $350/yr insurance savings by going to a single car; net $450/yr. Peanut.

The economics change drastically if our cars were newer and/or more valuable, but our retirement budget is not an issue. We still use our airplane for most longer trips. I really don't need to reduce our car expenses, so I'll remain on the wait list for my Tesla Model 3 :happy

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Nicolas
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Re: Downsizing to one car in retirement...

Post by Nicolas » Fri Jan 05, 2018 6:31 pm

Good idea
Last edited by Nicolas on Sun Mar 25, 2018 9:34 am, edited 1 time in total.

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munemaker
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Re: Downsizing to one car in retirement...

Post by munemaker » Fri Jan 05, 2018 6:43 pm

RudyS wrote:
Fri Jan 05, 2018 6:00 pm
neilpilot wrote:
Fri Jan 05, 2018 5:43 pm
munemaker wrote:
Fri Jan 05, 2018 5:36 pm

My wife only drives her car about 150 miles/ month compared to about 15,000 miles/month on my car. But there is no way we would want to give up one car at this stage. Maybe later on. I have been thinking about buying a sports car, which would be a third car.
I don't see how you can maintain an average of 15,000 miles/month. That's almost the equivalent of 75 hours/week of driving. Do you lend your car out; drive for Uber and/or Lyft?
Funny. Seriously though, as was said by others, it all depends on alternatives in your location as to whether you can make this work. Up until DW stopped driving, we always had 2 cars, one of which was a station wagon for hauling "stuff."
Should have been 1,500 miles, not 15,000. I fixed it right away but you were too quick for me.

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Re: Downsizing to one car in retirement...

Post by hudson » Fri Jan 05, 2018 6:45 pm

helloeveryone wrote:
Fri Jan 05, 2018 4:37 pm
Question for those who are retired couples with 1 or 2 cars...

I’m 20+ years away from retirement but am just curious about what happens when both members of a household are retired in terms of cars. Is it better to downsize to 1 car, and if the need ever arises where both members need the car you just use a service like Uber/Lyft etc...? Thinking about it today that seems cost effective - get rid of a car and all the associated costs (insurance, annual tax, gas, maintenance). Paying for Uber/Lyft once in a while is way cheaper.

But maybe the inconvenience of having to share is not worth it??
We have to have at least 2 dependable vehicles that will take us on 100-200 mile trips.
There's no Uber type service or public transportation. (Edit: I just went to Uber and they quoted a 10 mile trip...I've never heard of anyone using it.)
I keep a third vehicle...a 17 year old truck for driving around town. I figure it costs $200-$300 extra a year to keep it. It'll make my newer truck last longer. My wife has no problem driving it if necessary.

EDIT2: I would agree that a third vehicle is a luxury item. Near retirement, I bought a new vehicle and decided not to sell the old one until the tires wore out. It's 5 years and 30,000 miles later and the tires still look good. Insurance is $154 per year, taxes and registration were $70. In 2017 I replaced the radiator for around $400. In 2016, I spent around $500 on repairs. Therefore it really costs about $700-$800 per year.
Last edited by hudson on Sat Jan 06, 2018 5:17 am, edited 4 times in total.

JBTX
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Re: Downsizing to one car in retirement...

Post by JBTX » Fri Jan 05, 2018 6:49 pm

I could never imagine one car. We are very independent and will likely be that way in retirement.

Ron
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Re: Downsizing to one car in retirement...

Post by Ron » Fri Jan 05, 2018 6:52 pm

Ages 69/70, both retired, live in the burbs, no public transport.

We have three cars; hers/his/his. His second car is an '02 Mustang vert, purchased new, with 22K currently on the odometer. I'll get rid of it when I can no longer depress the clutch or my wife will sell it when I move on to that big raceway in the sky :mrgreen: ...

Could we do with less? Probably, with some inconvenience. However, we chose not to. We're still fairly active in our retirement pursuits, and they aren't the same functions for each of us.

- Ron

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Re: Downsizing to one car in retirement...

Post by david_that_guy » Fri Jan 05, 2018 6:58 pm

Ages 63/64 and both retired for 2 years. My wife and I downsized to one car after 1 year of retirement. We live in a suburb without much public transportation, but it hasn't been a problem. I ride my bike everywhere. In fact, one of the reasons I wanted to get rid of my car was so I would not be able to wimp out and drive when I could ride.

There will be some time this winter when I can't ride (we just got 16 inches of snow!), but overall, we don't miss the second car.

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Re: Downsizing to one car in retirement...

Post by roymeo » Fri Jan 05, 2018 7:01 pm

We downsized to one motor vehicle long before 20 years to retirement. Depends on where you live and your lifestyle.
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Re: Downsizing to one car in retirement...

Post by cadreamer2015 » Fri Jan 05, 2018 7:05 pm

We have only one vehicle and it is working out well. I had to take the bus once about a year ago. The market is an easy bike ride away. You do have to plan things in advance and enjoy spending time together with your significant other. It is nice to have lower expenses of depreciation, insurance, fuel and maintenance.
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Re: Downsizing to one car in retirement...

Post by Thesaints » Fri Jan 05, 2018 7:11 pm

If having one or two cars is a big issue in retirement, perhaps one should not retire yet.

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Toons
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Re: Downsizing to one car in retirement...

Post by Toons » Fri Jan 05, 2018 7:18 pm

Well,
If you have saved and invested for decades and
You have some gold to spend in your golden years,
Don't deny yourself 2 cars if it is purely for frugality sake. :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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ScooterBob
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Re: Downsizing to one car in retirement...

Post by ScooterBob » Fri Jan 05, 2018 7:25 pm

I'm a year or so from "retiring" and we've already said we are going to one car when my car-16 years old- finally dies. It still looks and runs like new even in the harsh winter environment we live in so it will hopefully not be too soon. Having one car will save room in the garage, cut expenses, and the stress and time of taking care of two. If you can manage it, go for it. We have a bunch of scooters if I would need to get around when the weather is good.

Bob

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Watty
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Re: Downsizing to one car in retirement...

Post by Watty » Fri Jan 05, 2018 7:28 pm

Thesaints wrote:
Fri Jan 05, 2018 7:11 pm
If having one or two cars is a big issue in retirement, perhaps one should not retire yet.
+1

There are lots of situations where having one car makes sense but ideally the finances would be a secondary consideration.

stan1
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Re: Downsizing to one car in retirement...

Post by stan1 » Fri Jan 05, 2018 7:36 pm

My inlaws kept two cars until they were 92/89 even though she let her license lapse about age 86. FIL gave up his Lexus last year and is now driving her Accord at age 93. They put less than 500 miles per year on the Accord when they had two cars and she only drove it to go under 2 miles each way from the house to her beauty parlor every week. He drove her car when he needed trunk space and didn't want to remove his golf clubs from the Lexus. It was important to them to have that freedom but even more so they grew up in the Great Depression (her in a house without plumbing or electricity) and they weren't about to give up that symbol of success (two cars).

By the way: RMDs for a 93 year old with a large IRA are crazy! First world problems.

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Re: Downsizing to one car in retirement...

Post by Greentree » Fri Jan 05, 2018 7:41 pm

By the time you retire in 20 years, there is a good chance there will be an uber type autonomous driver service. A prediction is that something without a driver would be less expensive per mile than owning your own car. I could imagine very few people in the bigger cities would own a car at all.

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Re: Downsizing to one car in retirement...

Post by DanMahowny » Fri Jan 05, 2018 7:58 pm

One car is our plan for the future. We both currently drive 2015 models. When they need replaced, we will do it with one car.

It's not just a means to save money either. I like the simplicity of it.

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aristotelian
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Re: Downsizing to one car in retirement...

Post by aristotelian » Fri Jan 05, 2018 8:08 pm

Not retired but I would love to go down to one car when we stop working. We live in a walkable area and neither of us like to drive. Zero cars would be our ideal but we will probably need to keep one.

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Re: Downsizing to one car in retirement...

Post by helloeveryone » Fri Jan 05, 2018 8:11 pm

neilpilot wrote:
Fri Jan 05, 2018 6:17 pm
I would not consider going down to 1 vehicle unless our budget was very tight. While it's relatively rare that both cars are in use, I still DIY the majority of car maintenance, which is somewhat recreational. I can now afford to garage a car for a few days to save on parts and/or if I need to pace myself in completing the repair. If we went down to one car, I'd likely need to have more repairs done in a shop, and still be without transportation.

Since our cars are older [2008 at 145k miles and 2002 at 135k miles] they are well depreciated, so the capital tied up in vehicles is at or under $5k each. The insurance for both totals under $700/yr. If we shared a single car, we would likely not save much on variable cost (gas & maintenance) since that one car would be driven about the same total miles as our two and require the same (or more) maintenance dollars as the 2 cars we have now.

So I might save the opportunity cost of one car's capital ($5k @ 2%/yr) plus $350/yr insurance savings by going to a single car; net $450/yr. Peanut.

The economics change drastically if our cars were newer and/or more valuable, but our retirement budget is not an issue. We still use our airplane for most longer trips. I really don't need to reduce our car expenses, so I'll remain on the wait list for my Tesla Model 3 :happy
This is a nice way to look at it. Thks for sharing that math. It puts it in better perspective than what I was thinking in my mind.
Last edited by helloeveryone on Fri Jan 05, 2018 11:15 pm, edited 1 time in total.

DrGoogle2017
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Re: Downsizing to one car in retirement...

Post by DrGoogle2017 » Fri Jan 05, 2018 8:51 pm

I’m down to one car. It started when one of my kids was thinking of not having a car. That pushed us right in the right direction. Who knows, we may inherit another car if she moves to the city.

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Re: Downsizing to one car in retirement...

Post by friar1610 » Fri Jan 05, 2018 10:41 pm

72/71 in burbs. Have 2 cars now. She goes to yoga and I go to gym in AM (opposite directions). Probably could make it work with one but would be a PITA and there's no financial need to do so. Will probably buy a new intermediate sized car in the spring. If she wants to drive it she can and I'll take over her smaller car. Or she can keep driving the smaller one - makes no difference to me. I see us from this point on having an intermediate size for longer trips and a used compact for around town.
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Re: Downsizing to one car in retirement...

Post by dwickenh » Fri Jan 05, 2018 11:10 pm

Toons wrote:
Fri Jan 05, 2018 7:18 pm
Well,
If you have saved and invested for decades and
You have some gold to spend in your golden years,
Don't deny yourself 2 cars if it is purely for frugality sake. :happy
+1 Bought a new one for her, she gave me her old one for me. Happy wife, happy life!!
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

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Re: Downsizing to one car in retirement...

Post by helloeveryone » Fri Jan 05, 2018 11:13 pm

Thesaints wrote:
Fri Jan 05, 2018 7:11 pm
If having one or two cars is a big issue in retirement, perhaps one should not retire yet.
I agree, it was more a curiosity question. It sounds like there are three schools of thoughts - folks who are independent and have their own separate things going on vs. folks that downsized to 1 and make it work well between each others activities vs. folks who didn’t downsize until later on in retirement.

Knowing my wife and I we would both want a car for many of the same reasons others have stated.

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Re: Downsizing to one car in retirement...

Post by LeeMKE » Sat Jan 06, 2018 1:00 am

We live downtown. When ZipCar put two cars across the street, I decided to leave my car parked over the winter and see if ZipCar, Uber/Lyft, bus and walking could be substituted. In the spring, I sold my car, 4 years ago.

DH is still working, and needs a car to commute to the shop daily. But he likes the luxury I have of having fewer things to manage, and not having to find parking. We might not replace his car once he retires and see if that works for us.

For me, the cost of owning a paid off car was about $6,500/year. My expenses the first year for all transportation was less than $3,500. So that was interesting. But more interesting was the psychic stress reduction of not having to take care of a car. I'd never thought of oil changes and service visits as a burden, but once I was relieved of my own car, I felt a burden lifted. I do miss having my own vehicle, with my own stuff in it, just the way I left it. But not enough to go car shopping.
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Re: Downsizing to one car in retirement...

Post by tibbitts » Sat Jan 06, 2018 1:09 am

I think this isn't a case where it's helpful to solicit opinions, because it's a very personal and circumstance-based decision. But for me, I'd say two cars are preferable if you can afford it, assuming both of you drive.

IMO
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Re: Downsizing to one car in retirement...

Post by IMO » Sat Jan 06, 2018 1:26 am

neilpilot wrote:
Fri Jan 05, 2018 6:17 pm

Since our cars are older [2008 at 145k miles and 2002 at 135k miles] they are well depreciated, so the capital tied up in vehicles is at or under $5k each. The insurance for both totals under $700/yr. If we shared a single car, we would likely not save much on variable cost (gas & maintenance) since that one car would be driven about the same total miles as our two and require the same (or more) maintenance dollars as the 2 cars we have now.

So I might save the opportunity cost of one car's capital ($5k @ 2%/yr) plus $350/yr insurance savings by going to a single car; net $450/yr. Peanut.

The economics change drastically if our cars were newer and/or more valuable, but our retirement budget is not an issue. We still use our airplane for most longer trips. I really don't need to reduce our car expenses, so I'll remain on the wait list for my Tesla Model 3 :happy
1. Did you have to cut down to 1 airplane? :D

2. I'd agree that especially if you have older cars that are well depreciated, probably the real difference is the additional cost of insurance for the 2nd car. Maintenance/repairs are primarily mileage related, so using each care 1/2 as much should mean 1/2 the number of oil changes per car, 1/2 the number of new tires, etc. One could argue further that the 2nd car might be a wash if you have 2 cars with significantly different mpg (such as 1 being a truck you need on occasion only and the other being a very economical sedan) and you purposely put more miles on your economical sedan whenever possible. Doing that would also save on mile related depreciation on the more expensive vehicle (the truck in this case) allowing you to keep that more costly to replace vehicle for a longer time frame.

In the current suburb we live, the drive(s) related to various activities, 1 car would be nice but very impractical for a significant number of days per month. Uber/Lyft would not be cost effective options.

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Re: Downsizing to one car in retirement...

Post by Dead Man Walking » Sat Jan 06, 2018 1:52 am

Wife and I are both retired. We downsized from 3 cars to 2 cars this year. We live in a rural area; consequently, one of us would be trapped at home if the other had the car. The disadvantage of downsizing from 3 to 2 cars is that when one car is in the shop for service, we have to plan for having one car. Fortunately, that only happens twice a year. Two cars gives us the freedom to maintain our independence. She can go on a shopping trip with her friends, and I can go to my club and enjoy an adult beverage with my pals. Our cars are well maintained low mileage older Hondas.

No matter what your age, freedom is priceless.

DMW

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snackdog
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Re: Downsizing to one car in retirement...

Post by snackdog » Sat Jan 06, 2018 2:09 am

We have had one car or less for more than ten years. No issues whatsoever. When we retire we will probably have one depending on where we live. We prefer living in places with high walkability and bikability. The quality of life tends to be much higher than suburbia.

Given that most cars are unused 90% of the time, having one per house is a huge waste. Having two seems nuts unless you are an Uber driver.

jlawrence01
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Re: Downsizing to one car in retirement...

Post by jlawrence01 » Sat Jan 06, 2018 4:06 am

We have had one car since 2000.

In retirement, we moved to a small town outside of a larger city in December 2014. We still have one vehicle.

When we need to be in different places at the same time - which happens a few times a months, we have a variety of options:

1) Public transportation - scheduled service
2) "Dial a Ride" Bus - door to door service
3) Call a friend for a ride - many people in the neighborhood will give us a ride just for asking.
4) Rent a car from Hertz - usually when one of us is heading out of the area
5) Several neighbors allow us to use their vehicles as we generally drive them places.

There are several other options that we have yet to investigate:

1) Mexican shuttles - there are 30 livery services that head past up 10+ times a day.
2) Taxi - have not been able to locate one although we hear that such a beast exists.
3) Uber claims to offer service in the area BUT 1) we do not like the business model where the drivers get sub-minimum wage after expenses and 2) MOST of the Uber drivers in this are advertise their availability in various flyers in this area do so "off app."
4) The local Council on Aging offers a number of other ride services at reasonable cost as do two of the social service agencies that we support in our area with our contributions.

I don't see the wisdom of parking a car out front that will sit around deteriorating for the one time a week we might use it.

And then there is the healthy option ... the shoe leather express. :happy

Billionaire
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Re: Downsizing to one car in retirement...

Post by Billionaire » Sat Jan 06, 2018 6:10 am

My sister-in-law (age 58) and her husband (age 60) recently retired and now have one car. Money is not an issue. My wife and I get a big laugh out of it. To us, it's just an extension of their needy relationship and need to be around each other 24/7. It's disturbing. Who knows, maybe they are trying to make a statement. Still disturbing.

mostlycloudy
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Re: Downsizing to one car in retirement...

Post by mostlycloudy » Sat Jan 06, 2018 8:36 am

I just finished reading all the responses. Nice Read. About 15 years ago I retired in the U.S. I'm one of those users of a hybrid vehicle (10 yrs. old, 42k miles). We basically do a lot of extended international recreational travel. So, what makes sense to me is owning a vehicle at my home base location with very low maintenance needs, very low operational cost, and a small local environmental foot print. This fits my over all "Down Sizing" goal. Being a life long "do-it-your-selfer", I appreciate your thoughts on solving this common transportation problem.

Shallowpockets
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Re: Downsizing to one car in retirement...

Post by Shallowpockets » Sat Jan 06, 2018 8:58 am

OP, you are 20 years out from retiring. Hardly a time to think about one or two cars. The whole transportation world may change drastically in the next 20 years.
We are retired, still with two cars. Both paid off. The expense is gas, insurance, license plates. The total of that is not significant in any financial way. We drive about 15k a year between these two cars. It is convenient, even though we go most places together. So could get by with one car easily. What would be the point? If I am looking to decrease carbon foot print and sold one car, how would that do it? I might sell it to someone who puts twice as many miles on the car as I do.
These cars we have are Hondas. I expect them to go almost forever at the rate we use them.
Downsizing to one would only be the result of a huge repair expense or accident that would make me financially question going down to one.

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dm200
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Re: Downsizing to one car in retirement...

Post by dm200 » Sat Jan 06, 2018 1:48 pm

Issues pro and con to two cars vs one -

In retirement, we do fine with two older cars. Insurance (no collision or comprehensive) is about $1,100 per year for both cars. No personal property tax because of low value. Since we can get along with one car when needed, we can tolerate one being in the shop (as expected for older cars).

Our guess is that having the two older cars, on balance, I believe the net vehicle costs are about the same as one, newer car.

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wander
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Re: Downsizing to one car in retirement...

Post by wander » Sat Jan 06, 2018 1:54 pm

If you always go together then keeping one car is a good idea. Cars are design for you to drive them daily, if you leave them alone you still have to remember to start them often to be lubricated. Cutting cost on insurance and DMV renewals too.

DrGoogle2017
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Re: Downsizing to one car in retirement...

Post by DrGoogle2017 » Sat Jan 06, 2018 2:00 pm

You can Uber nowadays. I like being chauffeured around. We’re seriously thinking of no more driving at age 70. Not sure if we can do it or just talk.
Last edited by DrGoogle2017 on Sat Jan 06, 2018 2:46 pm, edited 1 time in total.

neilpilot
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Re: Downsizing to one car in retirement...

Post by neilpilot » Sat Jan 06, 2018 2:09 pm

DrGoogle2017 wrote:
Sat Jan 06, 2018 2:00 pm
You can Uber nowadays. I like being chauffeured around. We’re seriouslythinking of no more driving at age 70. Not sure if we can do it or just talk.
My plan is that, but the time we reach the mid-70s and decide to stop driving, Tesla will have pushed their autonomous self-driving software update out to our 2018/9 Model 3.

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