Amongst the top three expenditures in most North American households is the automobile. Despite my previously mentioned love for bicycles, my wife and I also own a car, and it's lately been weighing on me as a large cost. Well, today specifically since I got nailed with a $900 repair bill. And I still need to replace the tires, which looks like it will run me at least another $500.

As someone active in the cycling community, I have a number of car free friends, and I do sometimes wonder whether this might be a realistic option for me. While I'm not in the mood to figure out all the costs involved, it is valuable to contemplate the alternatives. My current car use is pretty minimal...the car remains parked 4-5 days per week, and much of the time when it does get used, it is only slightly more convenient. Alternatives to car ownership are usually not entirely adequate by themselves, but a combination could save a lot of money without any meaningful deterioration in quality of life.

Rental Cars

For someone who drives infrequently - and mostly on weekends - rental cars are actually a very efficient use of money. Renting a car on the weekend often costs only about $20-$30 per day. This is usually how I get myself to the airport, being much cheaper than parking there, or taking a cab. While a weekly car rental would no doubt be a hassle, I could rent a car three Saturdays every month to run my errands without spending more than my current insurance bill. Without even taking into account the capital investment in the car, or revenue from renting out my parking stall, I'm coming out even.

We also take occasional weekend trips out of town, which, at $100/weekend would take 160 weekends (or once a month for 13 years) before it would cost as much as buying a low-end car. Since we would like to replace our car roughly every 10 years, if these are the only two times we actually need a car, then renting is coming out ahead.

Bicycle

For an urban resident, the bicycle is a very practical vehicle. Cheap to buy, cheap to maintain, free to park at most venues, and often - thanks to avoiding traffic congestion - they can get places in a similar amount of time to a car. The capital cost of a decent bike is anywhere from $500-$1500, depending on your definition of decent. In other words for the amount that just spent fixing my car, I could have bought a new bike.

Winter is usually the biggest hurdle to biking, and I think this might be the downfall of my plan. While I've biked a bit this winter, it's much less fun than summer biking, so having to bike everywhere might cramp my style. That said, many people bike year-round here, and since the main hurdle is willpower, being forced to might make the difference.

Public Transit

Public transit is particularly useful for trips that go to central locations, such as a downtown job or school at a major university. Given the cost of parking at these locations, I already use transit for those sorts of trips, so owning or not owning a car makes no difference.

I think there's little doubt that we could save a lot of money by selling our car and living car-free. But the lifestyle adjustment is a bit frightening, so it probably won't happen. It's something to consider, though, if you ever find yourself having to adapt to a lower income, or if you're having trouble staying on top of your bills.