When start-up founder Alexander Cohen moved to the San Francisco Bay area, he debated whether to keep his car or pay to rent vehicles and rideshare exclusively.
Though Cohen has a dog, his proximity to a grocery store and other amenities meant he could save about $550 per month by choosing the latter. He ditched his wheels.
More than 8 in 10 consumers familiar with the sharing economy, including automobiles, agreed it "makes life more affordable," according to a 2015 report by PwC.
But the decision to completely forgo a personal car can be difficult, depending on where drivers live, work and play, because of convenience and other important criteria, experts say.