auto

5 tips to becoming a one-car family

Budget for some car and commuting costs
Next
3 of 7
Back
Budget for some car and commuting costs

The savings may be substantial, but the single-car lifestyle won't be a free ride.

It costs less to insure one car, but it might not be half as much. That's because many auto insurers offer multicar discounts, such as State Farm's reduction of 5 percent to 20 percent of the premium, says State Farm spokesman Dick Luedke.

"The more cars there are in one household, the less mileage per car is driven. So the risk is lower," Luedke says.

There are also transportation costs to consider. For example, a 30-day subway pass in Atlanta or Boston costs about $60 per month.

And even the best commuting strategy should include a backup plan for emergencies such as when the car is in the shop. If you can't hitch a ride, that might mean renting a car for days or weeks.


 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
advertisement
advertisement

Blog

Tara Baukus Mello

Tires are tops for safe driving

The season for road trips is here. Before you pack up the family, the car and get behind the wheel, read these 6 tips for safe driving.  ... Read more


Connect with us