Can You Afford to Stop Driving for a While?

For a lot of people in Georgia, a car isn't optional. You need it to get to work, take the kids to school, run errands, and make appointments. Depending on where you live, public transportation may be limited or nonexistent.

But needing transportation and needing your current car are two different things.

If your car payment is $650, insurance is $250, and you spend another $200 on gas, that's already $1,100 a month. We haven't changed the oil, replaced a tire, or fixed anything yet.

At some point, we have to do the math.

What Is Your Car Actually Costing You?

Start with your car payment, insurance, gas, parking, and tolls. Then look at what you've spent on maintenance and repairs over the past year. That's your real transportation cost.

A $600 car payment isn't costing you $600 if another $400 is required every month just to keep the car insured, fueled, and on the road.

Once you know the real number, ask yourself; is there a cheaper way for me to get where I need to go?

What Are Your Actual Options?

This depends heavily on where you live. If you're in rural Georgia and work 25 miles away from home, selling your car and buying a bicycle probably isn't a serious plan.

But if you live near public transportation, work from home a few days a week, or have coworkers nearby, you may have more options than you think.

Look into MARTA, local county transit, Xpress commuter buses, park and ride lots, carpools, and vanpools. Georgia Commute Options can help metro Atlanta commuters find some of these alternatives. Its Guaranteed Ride Home program also provides eligible commuters with a limited number of free emergency rides when something unexpected happens.

Rideshare is expensive, but compare it to the whole cost of your car, not just your gas. If you only go into the office twice a week, a month of Uber or Lyft rides may still cost less than a car payment, insurance, gas, and maintenance.

If your job can be done remotely, ask about another work from home day. If a coworker lives nearby, offer to split gas and carpool. Walking or cycling may work for some shorter trips if you have a safe route.

You don't need one perfect replacement. You may need a combination of things that costs less than your current vehicle expense.

Could You Become a One Car Household?

If your household has two vehicles, this may be the easiest middle ground.

Look at how often both cars are actually needed at the same time. If one person works remotely, your schedules are different, or one of you could carpool or rideshare occasionally, sharing one vehicle may be inconvenient but completely doable.

Before You Sell, Find Out What You Owe

The main hurdle to giving up a car is owing more on the loan than the vehicle is worth.

If you owe $22,000 and the car is worth $18,000, you're $4,000 underwater. Selling the car does not make that $4,000 disappear.

Get your actual loan payoff amount and find out what the car is realistically worth. If you can't afford to cover the difference right away, at least you know your exit number. You can work towards closing that gap instead of feeling stuck with the car forever.

And be careful about rolling that $4,000 into another auto loan. Don't solve a car problem with another car problem. A dealership may be able to lower your monthly payment by stretching the new loan out longer or moving your old debt into the new loan. That doesn't necessarily mean you saved money.

Maybe You Need to Keep the Car

That's okay too. If getting rid of it isn't realistic, look at what you can change. Rate shop your insurance every renewal period. Ask whether refinancing actually lowers your total cost, not just your monthly payment. Drive fewer miles when possible. Carpool a couple days a week.

If you're having a temporary financial problem, contact your lender before missing a payment. Some lenders offer due date changes, payment plans, or temporary hardship options. Ask what is available, what it will cost you in the long run, and get any agreement in writing.

The goal is to stop treating transportation costs as an untouchable expense.

Why This Matters

You may run the numbers and realize you absolutely need your car. Or you may realize you're spending $900, $1,100, or $1,300 every month because you've never seriously considered another way. Figure out what your household's transportation needs are, then price out the alternatives.

Sources: AAA, Your Driving Costs, Atlanta Regional Commission, Consumer Financial Protection Bureau