We Finally Sold Our Second Vehicle and Became a One-Car Family

Mr. Enchumbao

I work for a large investment management company helping people save for traditional retirement. During my spare time, I help others save for financial independence and early retirement by writing for Enchumbao. My journey to FI began in 2012. I was in a lot of debt back then, but I turned things around and became debt free a few years later. My wife and I reached financial independence in 2017 and are preparing to retire by 2020.

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6 Responses

  1. LM says:

    We’ve been a one car home for 9 months now and love it! I’m glad you guys did it. In our calculations it was costing us about $4K excluding gas costs to run a second year. When we get frustrated about planning how to share the car, we remind ourselves how much we are saving by not having it. It makes an $8 uber here and there much more palatable 🙂

    We saved the sale proceeds for a down payment down the road, and are putting away those annual savings in a Roth!

  2. Karen says:

    Zipcar can also be a great back-up alternative for a second ride when necessary.

  3. Nice job! We did consider going down to a single car, but do not have as convenient of a public transportation option. Our cars are cheap enough, and do not require much maintenance. But one day it would be nice to eliminate the hassle and costs of 2 cars.

    • Thanks Mr. Crazy Kicks. It is definitely harder to accomplish without convenient public transportation around. In our case, working in the same place and also having the option to take a shuttle to work, two blocks away from home, makes it a tough argument to keep two cars parked on the driveway.
      Even though the cost were low for us as well since the car was old, the small savings start to add up. It felt really nice to pay insurance and registration for one car this year. Thanks for stopping by!

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