I am car free and am payed a very generous incentive at work to commute by bike (~$500). I did the math a few years ago and including parking ($1400 a year), no tabs/insurance, decreased health expenses, food savings (I lost 35 lbs over 5 years) I estimated I will save almost $3600 a year over 10 years. If I were to include the sale of the vehicle this number would go up by a thousand.

PS: I typically spend around $700 a year on maintenance, parts, upgrades, new bikes .