why are you including depreciation? The car payment is the car payment -- so what are you paying and is it worth it is the basic question. My car sits most of the time as well -- I put barely 5k miles a year on it, but my all in payment is nominal against the convenience it provides. I'm the type that needs freedom from having to schedule my coming and going. If you don't mind hurdles every time you need to do something beyond walking distance, then get rid of it.