My wife and I have discussed this several times, and never come to a determinate conclusion.
We own a 1998 Dodge Stratus with 175,500 miles that my wife purchased in 2007 with 125k miles. It has been in her, and now our possession for the past 50k miles and with the exception of an overhaul shortly after she bought it, during that entire time it has not needed a single major service. Simply normal service items like oil and filter. Within the last year I replaced the plugs, wire, valve cover gasket, and a few other things, but I did it myself and it was cheap.
It has not been used more than three occasions in the past year. We currently both ride out Honda Reflex 250cc scooters everywhere, and drive a 1997 Grand Marquis when we have to hit the road (with 110k miles and in excellent service condition).
The Dodge Stratus has been on stand by insurance for the past 9+ months, and is not being used at all. Standby insurance is $8/month, or $96/year.
So you ask, "What the hell is your dilemma?!? Sell the car already you idiot".
The car is not worth more than $1200 on craigslist. And likely it'll sell for $900-$1k. It costs less than $100/year to keep the car, and it's not loosing value.
We live in a very wet climate 8 months of the years, and we're both looking for new employment in the area. Riding our motorcycles year round is kinda crappy for my wife (though I do it willingly, and joyfully). We're happy with the thought of less shit, one car, and no other expenses, but hesitant to sell the car because it may come in handy in the future if our commutes change. It's in good mechanical condition with a known history, and we've owned it for 8 years. If we end up needing a car in the future after selling this one, we'll be hard pressed to replace it with a similar car for the sale price we'll fetch.
Thoughts and considerations anyone?