Your second car likely spends 95% of its life sitting in your driveway or a parking garage, silently draining your bank account. While Americans often view vehicle ownership as a non-negotiable necessity, the financial reality has shifted. Between skyrocketing insurance premiums, fluctuating fuel prices, and the steep cliff of vehicle depreciation, that “backup” car might be the most expensive convenience you own.

According to AAA data, the average cost to own and operate a new vehicle in 2023 surged to $12,182 per year—or about $1,015 every month. If you only use that second car for occasional errands, school pickups, or weekend trips, you are effectively paying a massive premium for a tool you rarely use. Transitioning to a combination of ride-sharing services like Uber and peer-to-peer rentals like Turo offers a compelling alternative. By selling your second car, you could potentially reclaim thousands of dollars in annual cash flow without sacrificing your mobility.

The True Cost of That Second Vehicle

Most people calculate the cost of a car based on their monthly loan payment and their trips to the gas station. However, the true “burn rate” of a vehicle includes several invisible or semi-annual costs that quietly erode your wealth. To determine if car sharing vs owning is right for you, you must look at the total cost of ownership (TCO).

• Depreciation: This is the single largest expense for most car owners. A new vehicle loses roughly 15% to 20% of its value in the first year and continues to drop every month thereafter. Even if your car is paid off, you lose money every day it sits in the sun.
• Insurance: Adding a second vehicle to your policy rarely costs double, but it still adds significantly to your monthly overhead. In many states, insurance rates have jumped by double digits due to rising repair costs and climate-related claims.
• Maintenance and Repairs: Tires, oil changes, brake pads, and unexpected mechanical failures don’t stop just because you drive less. Rubber seals dry out and batteries die more frequently in vehicles that sit idle.
• Registration and Taxes: Annual tag renewals and property taxes are fixed costs that you pay regardless of whether you drive five miles or 5,000 miles.

By selling your second car, you immediately eliminate these fixed overhead costs. This creates a “mobility budget” you can reallocate to on-demand services that you only pay for when you actually move.

“Beware of little expenses; a small leak will sink a great ship.” — Benjamin Franklin

Breaking Down Ride-Share Costs vs. Ownership

When you use Uber or Lyft, you are paying for more than just a ride; you are paying for someone else to handle the depreciation, insurance, and maintenance of the vehicle. For a two-car household considering a move to one car, the math often hinges on how many trips you take per week.

If your second car costs $800 per month (a conservative estimate for a used vehicle including gas and insurance), that gives you a weekly budget of $200. In most mid-sized American cities, a 5-mile Uber ride costs between $15 and $25 depending on the time of day. If you use ride-sharing for three round-trips per week, you might spend $120. You are still $80 ahead for the week, or $320 ahead for the month, compared to owning the car.

However, ride share costs fluctuate. Surge pricing during rush hour or inclement weather can turn a $20 trip into a $60 trip instantly. To make this strategy work, you must be strategic about when you book. Using ride-sharing for essential, non-negotiable appointments during peak hours can eat into your savings quickly. The goal is to use Uber for the “gaps” in your primary vehicle’s schedule, not as a 1:1 replacement for a daily 30-mile commute.

Turo: Your Solution for the Weekend Getaway

One of the biggest hurdles to getting rid of a second car is the “What if?” factor. What if you need to drive three hours to see family? What if you need a truck to haul mulch? This is where Turo changes the equation. Unlike traditional rental car companies that often operate out of inconvenient airports with high fees, Turo allows you to rent specific vehicles directly from local owners.

Turo fills the gap that Uber cannot. If you need a car for a full day or a long weekend, ride-sharing is cost-prohibitive. On Turo, you can often find reliable economy cars for $40 to $60 per day, or a rugged SUV for $80 per day. If you only need that “extra” car twice a month for day trips, your total Turo expenditure might be $150. Combined with $200 in Uber rides, your total monthly mobility cost is $350—still less than half the cost of owning that second vehicle.

Check Edmunds’ True Cost to Own calculator to see exactly what your current vehicle is costing you. Compare that number to the local daily rates on Turo to see how many “rental days” you could buy for the price of one month of ownership.

What You’ll Save: A Comparative Monthly Budget

To visualize the impact on your wallet, look at this comparison between a standard two-car household and a one-car household utilizing on-demand services. These figures represent averages for a five-year-old mid-sized sedan with a modest remaining loan.

By switching to a car-sharing model, you could put over $5,500 back into your retirement account, emergency fund, or mortgage principal every year. That is a significant “raise” for the average American household achieved simply by changing how you view transportation.

The 30-Day Mobility Test

Before you list your car on Kelley Blue Book or Facebook Marketplace, conduct a trial run. For 30 days, park your second car and hide the keys. Commit to using only your primary vehicle, walking, biking, Uber, or Turo.

Keep a detailed log of every trip you take in the “replacement” modes. Record the cost of the Uber, the time spent waiting for a driver, and any inconveniences you encountered. At the end of the month, tally the expenses. If your total spend is significantly lower than your car payment and insurance, you have your answer. More importantly, this test tells you if the *lifestyle* shift is sustainable for your family’s patience levels.

When It’s Worth Paying: Scenarios for Keeping the Keys

While the math often favors car sharing, there are specific scenarios where owning a second car remains the smarter financial or practical choice. Do not rush into a sale if you fall into these categories:

• The Rural Gap: If you live more than 15 minutes away from a major suburban or urban center, Uber and Lyft availability will be spotty. Waiting 30 minutes for a ride that might get canceled is not a viable strategy for getting to work or school.
• Specialized Needs: If you have multiple children in car seats, the logistics of ride-sharing become a nightmare. While some Ubers offer car seats, they are rare and often come with a surcharge. Moving car seats between your primary car and an Uber multiple times a week is an exhausting hurdle.
• The High-Mileage Commuter: If both adults in the household work in opposite directions and neither has access to reliable public transit, two cars are usually mandatory. The cost of two daily 20-mile Uber commutes will almost always exceed the cost of ownership.
• Vehicle as a Tool: If your second car is a specialized vehicle—like a truck used for a side business or a van for a large hobby—you cannot easily replace its utility with a standard Turo rental without significant hassle and cost.

Don’t Fall For These: Common Car-Sharing Pitfalls

Transitioning to a car-less (or car-lite) lifestyle requires a shift in mindset. Many people fail because they don’t account for the “hidden” friction of sharing services.

Underestimating Surge Pricing: If you rely on Uber to get to a 9:00 AM doctor’s appointment, you are booking at the most expensive time of day. Always check the app 20 minutes before you need to leave to gauge current prices and wait times.

Ignoring Turo Insurance: When you rent on Turo, your personal auto insurance policy may or may not cover you. Many standard policies exclude “peer-to-peer” rentals, even if they cover traditional rentals from Hertz or Avis. Always verify with your agent or buy the Turo protection plan. Failing to do so could result in a massive out-of-pocket expense if you have an accident.

The “One More Trip” Trap: When you own a car, the marginal cost of one extra trip to the store feels like zero. When you pay $18 per Uber, you suddenly realize how much those “quick runs” cost. To save money, you must become a master of trip-chaining—combining multiple errands into a single outing with your primary vehicle.

Maximizing Your Savings with a One-Car Strategy

If you decide to sell the second car, you can further optimize your savings by using these specific tactics:

1. Leverage Credit Card Benefits: Many premium credit cards offer monthly Uber credits or elevated rewards points on ride-sharing. This can effectively “subsidize” several rides per month.
2. Use Public Transit for the “Middle Miles”: If your city has a decent bus or rail system, use it for the bulk of your journey and use Uber only for the “last mile” from the station to your destination.
3. Scheduled Rides: Uber allows you to schedule rides in advance. While this doesn’t always lock in a lower price, it ensures a driver is dispatched early, reducing the stress of a potential “no cars available” situation.
4. Bikes and E-Scooters: For trips under two miles, an e-bike or scooter is often faster and significantly cheaper than a ride-share. Investing $1,000 in a quality e-bike pays for itself in just a few months of avoided car expenses.

“It’s not your salary that makes you rich, it’s your spending habits.” — Charles A. Jaffe

Frequently Asked Questions

Does selling my car hurt my credit score?
If you pay off a car loan when you sell the vehicle, you might see a small, temporary dip in your credit score because an active account is being closed. However, the reduction in your debt-to-income ratio often makes you a stronger candidate for future loans, such as a mortgage.

Can I use Turo for a one-way trip?
Generally, no. Turo is a peer-to-peer service, meaning you typically have to return the car to the owner’s location or a pre-arranged spot. For one-way trips, traditional rental companies or ride-sharing are better options.

Is Turo cheaper than a traditional rental car?
In most cases, yes, especially if you need a specific type of car or want to avoid airport “facility fees” which can add 20% to 30% to your bill. However, for a week-long rental, always compare Turo rates with companies like Enterprise or Budget, which sometimes offer competitive weekly specials.

What happens to my insurance if I sell my only car?
If you become a zero-car household, consider getting a “non-owner auto insurance” policy. This provides liability coverage when you drive a friend’s car or a rental and, more importantly, prevents a “gap” in your insurance history, which would otherwise lead to much higher rates when you eventually buy a car again.

The Bottom Line on Mobility

The decision to sell a second car isn’t just about the money; it’s about reclaiming your mental bandwidth. You no longer have to worry about the “Check Engine” light, the expiring registration, or the neighbor’s kid hitting your bumper with a basketball. You trade the burden of ownership for the flexibility of access.

Start by calculating your current monthly car spend using your bank statements from the last three months. Be honest about every repair, every tank of gas, and every insurance payment. If that number makes you wince, try the 30-day mobility test. You might find that the freedom of having one less car in the driveway is the best financial move you make this year.

This article provides general money-saving guidance. Individual results vary based on location, household size, and spending patterns. Verify current prices before making purchasing decisions.

Last updated: February 2026. Prices change frequently—verify current costs before purchasing.