Back to being a one-car family

[luchorpan]

Just got back from Carmax where we sold our 2015 Corolla for about 90% of what we paid for it, after 3 years and not quite 15,000 miles of use. With my new job about half a mile from my spouse’s and childcare within a mile, it seemed crazy to keep two cars. Plus, we now don’t have to worry about shuffling them in our one-car garage/driveway, or keeping track of which one has the carseats in it. Win!

Has anyone else cashed in on these inflated used car prices?

[rockstache]

We’re discussing it for sure. When we bought the last one we were both commuting in opposite directions and dropping a kid at daycare to boot. Now we both work from home permanently and haven’t driven the cars at the same time in about a year. There’s no real reason we should keep both and we have a car max at the end of our street. We’ll probably go get an offer and see where we stand.

[Chris Pascale]

I'm thinking that when the kids are all licensed or moved out in 7 years my wife and I might just have 1 vehicle. An exception could be if we are both commuters.

[AccidentialMustache]

We are unfortunately looking at going the other way, from one to two. Seems stupid, given I now work remotely so don't have an office to go to.

But our parents are getting older and need occasional help, so one of us being able to shuttle a couple hours to them, without leaving the other at home with no way to do DS's school (if weather bad)/soccer (if weather good)/friends/museums/etc is becoming a problem.

A rental at $4-500 a pop for 4 days (for a sub/compact!) means it won't take many trips per year before we'd cover depreciation and insurance for the 2nd car and then we don't deal with the rental car shortages.

Not cheap, because no long-range EV is cheap. I thought we had a winner with a used bolt, but they keep re-lighting themselves on fire after chevy fixed them... so we're thinking maaaaaybe a bolt isn't for us.

I'm sure at some point we'll drop back down to one. We've so far made it 21 years on a single car, I'm sure we can do it again. If nothing else, likely when DS goes off to school we'll end up sending a car with him and be down to one. Or the parents will eventually pass or move closer and then we won't need both cars. Or the fit will finally get too expensive to be worth repairing for the amount of use we're getting out of it and we'll sell it. Someone can get one with a worn out motor from the southwest and drop our "like-new" (<100k miles) one in it.

[luchorpan]

We’re discussing it for sure. When we bought the last one we were both commuting in opposite directions and dropping a kid at daycare to boot. Now we both work from home permanently and haven’t driven the cars at the same time in about a year. There’s no real reason we should keep both and we have a car max at the end of our street. We’ll probably go get an offer and see where we stand.

Yes, we were the same. We got the Corolla shortly after my first was born because my husband got an adjunct job 90 minutes away. Kept it after that because daycare was still out of the way. But we really have no excuse now, and the prices helped us pull the trigger. FYI, you can do the appraisal online and the offer will be honored for up to a week. We used Edmunds.com and got the Carmax offer that way - it was very quick and convenient.

@AccidentialMustache, I’m sorry you’re on the opposite end! With prices hopefully on their way down, does it make sense to hold off with rentals for a little bit longer? Or to go with a hybrid instead of an EV, especially since you’ll use it so occasionally so the gas usage will be minimal? Our Prius is running great on 130k miles and has not set itself on fire.

[AccidentialMustache]

We actually got a Mach-E since I posted that. We thought we were going for a test drive on a demo car, but the car was actually for sale and we decided to buy it. I'd figured we'd get a test drive and then enter into a hunt mode to find one for sale "nearby." It wasn't our first pick of colors, but we weren't super thrilled by any of the available colors, so... eh?

It is completely face punch worthy on the price, but it otherwise aligns with our values and use-cases for it.

We test drove the prius and the leaf previously, which would have otherwise been obvious contenders, and *hated* them both. Finding a car to fit both of us is challenging; we place the driver's seat in very different positions. The 2009 Fit did a good job fitting us both, which is the single car we had up until now.

It was interesting to find out that all the safety features on a new car means that despite costing a ton more than the Fit, it is barely any more expensive to insure than the Fit is. Didn't expect that one.

[rockstache]

We’re discussing it for sure. When we bought the last one we were both commuting in opposite directions and dropping a kid at daycare to boot. Now we both work from home permanently and haven’t driven the cars at the same time in about a year. There’s no real reason we should keep both and we have a car max at the end of our street. We’ll probably go get an offer and see where we stand.

Welp, carmax offered us more than what we paid for it two years ago, so I guess we’re selling it today. Wow.

[luchorpan]

Happy endings for everyone!

[clarkfan1979]

We did it for 4 years (2015-2019). It really wasn't a big deal until my community college had me teach at a high school two days a week. I would normally take the bus to work 4 days/week (10 minute walk + 15 minute bus ride). My wife would have the car all day and everything was fine. However, my community college wanted me to teach at a high school 2 days/week. It wasn't really possible to take the bus (2 hours with transfers each way). I would take the car two days/week, so she was stuck at home two days/week. Not the worst, but not ideal.

[rockstache]

It’s weird…it really isn’t a big deal. And yet, psychologically it kind of is. I got my license later than most kids do, and then my first car at 21. I didn’t grow up being able to walk or bike to anything at all, so it felt like an incredible freedom I’d never felt before and I feel an echo of it every time I get in the car by myself. I’ve always had my own car ever since. Sharing a car means that sometimes I’ll be home without one. It’s a bit of a trapped feeling that’s going to take some getting used to. It sounds silly to say that on MMM but there it is. I’m still glad we did it though, it was the right move.

[luchorpan]

Yes, we definitely have to deal with the psychology of “what about emergencies??” But the reality is that Uber exists, Lyft exists, and in real true emergencies ambulances exist.

[GodlessCommie]

We've being down to 1 car for about 6 months. With WFH, it's a no-brainer. No problems so far whatsoever - not even inconveniences.

[clarkfan1979]

About 9 years ago we were down to 1 car for about 6 months. My car broke down and wasn't worth fixing. I rode my bike to work for 6 months. In the beginning in really wasn't a big deal. The weather in Southwest Florida in December is great for biking. However, it started to suck in April when it got hotter. Finally pulled the trigger in July.

[Affable Bear]

When I changed job just before lockdown I sacrificed the compay car but the new job was a 30 min bus ride from the stop at the end of my road and it works out around £60pcm for a buss pass.

Me and the wifey decided to sell her tiny beater car (Ford Ka) for a 3 year old Focus with low mileage to share (paid cash). being only 2 of us we have found it to be the perfect size for going away, camping and visiting friends and family and should last a good few years with future little ones.. 

We have actually put very few miles on it thanks to lockdown, my wife now actually car shares into her work most days which means the car is only really used for long trips or big shops every other week.  We estimate that we easily save £250-400pcm on insurance, fuel, maintenance and tax by only having one car. I would say its definitely worth moving closer to at least one of your jobs if you can!

[Just Joe]

What does PCM mean? I found tons of possibilities but I don't think any really fit the context.

We did the one car family thing for a long time until a friend was selling a good car for a good price (less than $2k) and we decided it would be nice to have it for those occasions.

DW and I have carpooled for ages but occasionally one of us would take a day trip or overnight to help our parents with something. Or one of our kids would need to go to event A and the other to event B at the same time.

Now several years later, that car we purchased becomes our second teen's first car. They are on the hook for future cars. We're still driving our old CRV. It is doing the commuting and shopping trips. We have a nicer, larger vehicle we prefer to keep for out of town trips to assist our aging parents or fun trips. It should last forever used like that. Meanwhile our CRV is worth very little, and costs very little to operate or maintain which makes our frugality tendencies happy. 

[dandarc]

"Per Calendar Month" is my guess.

[Just Joe]

Makes sense. Thank you.

[ketchup]

Badass!  With an upcoming move next year, we're hoping to be able to go back down to one vehicle again too, fingers crossed we can make it happen.

[Affable Bear]

Thats awesome! It's definitely worth it, if you are moving close to work you could potentially cycle or walk to work and accept a slightly higher housing cost or live slightly further out if the bus/tram/train links are good.

I think we have lucked into the situation more than strategically planned to go down to one car as I was burned out with traveling long distances in my old job and wanted something closer, it just so happened the one I applied for had excellent bus links.



@Just Joe

Sorry I should have been more clear, I am obsessed with reducing regular monthly outgoings and have probably refered to PCM a bit excessively at home!!

[pennyhandlebar]

We had two cars for about a year after we moved in together, and rarely drove both at the same time. We were both bike commuting, and it drove me kind of crazy to come home and see two cars sitting there that we were paying to insure, and typically only drove on weekends. So we sold one and hardly miss it. The places we go where you might need a car - hikes, skiing, etc. - tend to be things we do together. Most everything else we can walk or bike to.

[lcmac32]

We have now been a 1-car family for 9 months.  I drunk driver unexpectedly turned in front of me and I t-boned him.  Still working through the settlement process with an offer on the table.   So, although I wish I could say I chose the better part, and went to a one-car family...the universe made the choice (and a drunk driver) for me.  It isn't bad at all for two people who work remotely.  The wife wants us to get another car, but I like the lower insurance and idea that we really only need one car.  I am on the brink of the acceleration part of the FI equation.  My investment returns are starting to consistently outperform my savings.   I am pushing to go with out the second car for a while longer to show that we can do it.  I probably won't manage the RE portion of FIRE, but can easily see me FI in 10 more years.  I love this thread b/c it and others validate what I believe is consistently the better life path. 

[Focus_on_the_fire]

Just got back from Carmax where we sold our 2015 Corolla for about 90% of what we paid for it, after 3 years and not quite 15,000 miles of use. With my new job about half a mile from my spouse’s and childcare within a mile, it seemed crazy to keep two cars. Plus, we now don’t have to worry about shuffling them in our one-car garage/driveway, or keeping track of which one has the carseats in it. Win!

Has anyone else cashed in on these inflated used car prices?

Yep. Today actually. I went to a dealership and sold a four year old RAV4 with low miles for 2,000 less than what I paid for it.

When we realized we didn’t really need two cars, I knew now was the time to sell. Thanks to the great Mustachians I realized it was a hack of an opportunity.

I hear you on the garage situation. Ours was really tight with two cars, so I’m thrilled at the space. No more trying to wedge myself into the car or worrying about ripping a mirror off or scraping paint.

Kudos!

[Focus_on_the_fire]

Yes, we definitely have to deal with the psychology of “what about emergencies??” But the reality is that Uber exists, Lyft exists, and in real true emergencies ambulances exist.

Yes, this is big! When I started down that path, my DH reminded me that in the last 22 years I have never had to have him come and get me. Hahaha. I guess I’ve converted him to be Mustachian now.

[change_seeker]

hmmmm...we recently went from three to two, so that is a win?

Engine died on the 2002 Subaru Impreza Outback sport.

We are left with:

1998 Ford E-350 Campervan
2006 Toyota Sienna

I e-bike to work as much as I can, but kid pickups in the evenings can get complicated.  I want to replace the Sienna with an electric vehicle for the bulk of our trips, but it's hard to find one that can haul our family of six.

[ricelife]

Just sold the old 2008 Toyota Yaris for parts. It was all rusted and barely worked. Unfortunately I didn’t take care of it but now we are down to one car

I was a little nervous at first to go to one car because it’s all electric (2018 Nissan Leaf) but so far so good