Besides Bitcoin, obviously haha.
It was 2017. My girlfriend now wife decided that having 2 cars was just stupid and a waste of money. So we both sold our vehicles and bought a 2017 Ford Focus Hatchback. We got it for $11,000.
Since than we've only owned that car. Our friends think we are nuts but we've made it work. Now, it has been easier for us since we are both self-employed. But even now with a 8 week year old we still can't find a good reason for owning a 2nd car quite yet.
Total savings are hard to calculate. But just to ramble on potential savings.
-2nd car payment or total capital eliminated completely $12,000
-Elimination of car insurance $8,000
-We've put in about $6,000 total of fixes on the Focus so we'll just say we saved that in repairs for another vehicle
-Registration avoided $2,000
Anytime we need a truck to move stuff we just use a U-hual truck. We cut down our Christmas tree just a week ago and rented a U-hual truck. Total amount $68.
Now, our income has skyrocketed the last 3 years so we don't feel the financial effects as much anymore. But I would highly recommend it to any couple trying to save and get ahead while they build their income.
Also, a intangible benefit is that whenever we are at parties our friends like to bring it up to other people. Its a great conversation starter and we've made good friends from those conversations.