There's a hundred ways to look at this, the car, the bike and exercise costs. The OP goes 20% the miles that many do.
I hardly used my 2005 Chrys300 in the summer and when I was working it wasn't far. So at 15 years old it still had no rust, original battery and brakes, could easily have kept it another 10 years. My present car, I saved $20,000 on a year old demo with way more upgrades than I would want and it still cost twice as much.
I took it across Canada and back thru 22 states in 2019, with the 3 speed on the roof that I rode 12 days. Oil once a year. Car tires age out too and are needed every 6 years.

So the way I see the OP situation is either him or his wife takes the bus, say $6 a day. What about car parking? That soon adds up to a free bike. Maybe less car washes etc. OP likely already qualifies for low mileage insurance.
He will surely also ride on weekends to great health benefit, besides it's just plain fun. Unless he gets a complicated derailleur bike with gears NOT needed and far more difficult to service.
I ride 3,500 miles most years. The yellow 3 speed has 6,650 miles since I got it in 2017. Cost $173 plus about $400 for the new wheels, $44 pedals and $240 for my DIY stem. Only costs 2 cents a mile now for chain and tires.
It won't be easy to ride every day in weather that can also be too fricking hot. The day I was in Nashville late Sept., it was high 90s, so all I could do was drive the airconditioned car. My motel was an easy 5 miles from DT.