In most families, it is expected that you will have two vehicles, one for each spouse. However, you may have more or less depending on your financial situation or the number of family members in your home. To save money, you can downsize to just one car, but this will make it more difficult to get around. I recommend having only one car if you have small children. When you have preteens or teenagers, it can be made even more difficult by having just one vehicle.
Considering the Downsize
If you are thinking about having just one vehicle, you do need to consider a few factors. Will you and your spouse be able to get to work? Will someone be left at home with no vehicle? Will this be a health hazard if an emergency occurs? Will work schedules conflict for using just one vehicle? What about the children? Will you be able to pick up kids from school or after school activities?
When considering downsizing to one vehicle, you must take a look at your daily schedule. Look at what you do know and how that can be narrowed down to one vehicle. Will one person be able to drop everyone else off and head to work, to then pick everyone else up in the evening hours? Going to just one car can be done but each of these factors needs to be considered.
Consider other transportation
If you will be moving to just one vehicle, consider other transportation options. Does the school bus run by your home for the children to have transportation? Can you walk to work or is public transportation nearby? This can help to alleviate the need for the person driving to go all over town, especially in the early morning or evening hours. When you can find alternative options for transportation, you can justify having just one vehicle.
When you do cut down to one car, you will pay less for insurance, less car payments and less money for gas. You will be able to save money but you need to be sure that saving money outweighs any inconvenience. I have shared a vehicle with my husband before and it can be quite restricting as to what you are able to do while the car is away or many times, seeing scheduling conflicts. Weigh the pros and cons to be sure you are making the right decision for your family before you make the move to only one vehicle in the home.