OP, I got rid of my vehicle, and while there is some savings it is not as much as one would think, my insurance company raised my homeowner's insurance because I was no longer 'bundling' my auto and homeowner's.
It is always nice to daydream about shiny new toys. I think if you have two houses and kids in college you are fortunate, and I am happy for you, but I also understand about your thoughts of saving money on vehicle repairs enough to buy a new bike.