Has anybody given up a car in retirement?

[Guacamole001]

Just that really.

I am thinking it will help my overheads nicely.

Got 9 more years before my full state pension.

I plan to work one day a week to top up. Health permitting of course.

That way I could feasibly have a modest week abroad yearly plus savings for rainy day etc.

No other private pensions as had to cash those in during the pandemic (self employed). No mortgage no debts. Smallish 2 bed and overheads agreeable.

I am well served with lots of reliable buses and trains etc. I just hate the cold in the winter so got visions of shivering at bus stops/becoming a recluse! Of course I would wear coats scarves etc but has anybody learned to go without a car after their whole adult lifetime being in possession of wheels?

I would love to hear any views and experiences.

Have you thought about moving to be right in the centre of amenities you need? You could release some equity on your house, get a job in a shop nearby and be in walking distance of everything you need. Handy for when you are old old.

There are more burglaries in the centre lol. I can almost see two bus stops from where I live it is that easy! Plus a handy mini market round the corner on foot.

I would rather not do equity release as I hear it is an unwise move. Especially over a car.

I can easily work a day a week as self employed and that is at home.

I think it depends on your local public transport. We gave up our car ten years ago and don’t miss it. We’re not retired, but public transport is good where we are and there are shops, a leisure centre, green space and cafes within easy walking distance.

What if you need a car in a family emergency? I have a train station at the end of my road & plenty of buses but I would never give up my car! 😶

I have a park and leisure centre nearby. I thought it would help stay fit too. I know people who have stayed fitter through no car. So a win win...?

I live in a big city with great amenities and transport but I wouldn't get rid of my car. Don't fancy using public transport when it's lashing rain.

No I wouldn’t.
I have lived 10 years without when in London, but if your not then it’s always handy. Even then we hired one several times a year when needed which probably cost more than owning if you have somewhere at home to park easily for free.

You can have a basic cheap car, and just use the bus 90% of the time still which will reduce running costs if free bus pass in retirement. But when it’s cold, or your not feeling well or you need to carry heavy things, or visit a friend or family not near bus stop.

Yes we got rid when the cost of running the car outweighed the benefits. Slightly inconvenient every so often, but worth it we think. No more worrying about parking, MOT, fuel costs etc, we've got shopping trolleys or use delivery, definitely get more exercise.

No. I bought another so DH and I aren't tied to each other when we both need one.

My mum did - train station over the road & they had a second car. She lasted about 18 months & went and bought a new one.
Hated being trapped when dad at golf club or needing to drop him off pick him up and she became less mobile.
She did just get a tiny cheap brand new run around with low tax/small monthly payments/minimal maintenance etc. Is downsizing an option?

I don't have a car. I'm not retired though. Very close to amenities and public transport. Can connect easily to main rail line. Get supermarket deliveries.
Taxi or hire car for everything else.
There is also a car club im a member of which is pay per hour car hire, you pick up and drop off and book via an app.
But I only use a car of any variety if I have to and I find i don't often have to.

Come to think of it my mum got rid of her car when my dad died. I never heard her complain. She also had plenty of friends give her lifts for socialising. She was always quite fit too.

I have no plan to downsize no. Need the 2nd bedroom for ds. For any emergencies. Though he hasn't left home yet as still a teenager.

Hi do you have car clubs that have cars on the street i your local area if you need one. Your local buses may have an app so that you can see the arrival times and therefore minimise your time at bus stops. It would save a lot of money.

Great ideas lostoldname!

I would definitely consider this if I had good local public transport. You could always book a taxi if the weather was really foul.

I'm planning to try the local car club when my current one becomes uneconomic. I'm expecting some inconvenience but I'm very central so not much.

There are also schemes where you lend your car as a club vehicle, though I use mine as an extra storage cupboard too often for that

The local bus app is brilliant- i can see when buses are about to arrive so I don't go to the bus stop until the bus is coming - minimal shivering.

I'm quite well off but do not own a car. However, I'm in London and public transport is really good - I rarely have to wait more than 5 minutes for a bus. On the rare occasions I 'need' am to lazy to go by PT, I call a minicab. YMMV.

As PT is free for me (over 60), I spend practically nothing on getting from A to B and back again. Having a car would just be something else to worry about. If you are struggling financially, it's a no-brainer.

It doesn't sound like you really need a car. Getting rid and using public transport or taxis (if raining/in an emergency etc) sounds like a better option.

Get rid of the car. Put the money it would have cost you (MOT, Service, Insurance, Tax, Fuel, parking, cost of car) in a pot and use it for taxis when it's raining.

Make sure you have the right app for the bus so you can get to the bus stop just before a bus comes.

@Guacamole001

I would rather not do equity release as I hear it is an unwise move. Especially over a car.

I can easily work a day a week as self employed and that is at home.

Why do you think it’s an unwise move? What’s more important? That you have a good standard of living in retirement, or that you leave your house to your kids? You may not even get to do that if you have to go into a home and your house has to be sold to pay the fees! My dm has equity release. Her house is worth about £120k and if she died tomorrow she would owe about £60k to the ER company. She’s had plenty of use out of the money she released - I certainly wouldn’t hesitate to do ER if the need arose.

In your circumstances I would absolutely get rid of my car to cut overheads in retirement

If you lived more rurally I would be more reluctant but if there is good public transport and local amenities I wouldn't hesitate. You can take quite a few taxis and even the occasional car hire and still spend a lot less than you would running a car.

The money you save on not running a car, will easy pay for car hire, car club, or taxis if you get stuck. Not having a car is perfect financial sense, particularly if you're not using it every day for essential trips.

It depends on your individual circs, OP. If you go out a lot in the evenings as I do, would you feel safe standing alone at a bus stop in the dark, after the pubs have chucked out?
I park right next to the concert hall/theatre/my bridge club etc, and sprint straight to my car at 11pm. I wouldn’t fancy walking alone down dark city streets to a bus stop and stand there vulnerable and freezing for up to an hour waiting for the last bus to my village.

Electric bicycle?