Owning a car vs. public transportation

I currently own a '95 Honda Civic which is now, after years of wear and tear, a piece of garbage. Yes, it still runs and isn't currently giving me any problems besides high gas prices. However, I believe I can save a lot of money (gas, oil, maintenance, parking tickets, etc.) by selling my car while it's still worth something and switch to public transportation (bus, rail, subway, etc.). Two things to note: I live in the Los Angeles area where taking the bus is looked down upon and I'm on permanent disability so a LA County bus pass is only $14 a month. Now, I ask you Verge readers: is this a feasible option, is owning a car a luxury, or is it necessary in the society we live in. I understand people who live in busy metropolitan cities must rely on public transportation because parking is non-existent or too expensive. I would love to from fellow Angelinos who don't own cars and why but I also welcome all input from anyone living anywhere. I hope this post fosters some discussion.