Owning a car in retirement can add a number of charges to a retiree’s fixed budget. Specifically, the average retiree pays $3,989 annually for car insurance, repairs and maintenance, vehicle financing and gas. While $4,000 may not seem like much over the course of a year, across a 20-year retirement that’s approximately $100,000 in spending.
As such, a carless retirement can save you a great deal of money, but to do so would require living in a walkable city that supports carless citizens.
