If you're doing the math for your own ride-hailing vs. ownership comparison, don't forget to factor in your car insurance policy. (Photographer: Brent Lewin/Bloomberg)

With a ride from Uber and Lyft practically around every corner, city or suburban-dwelling car owners may be tempted to ditch the responsibilities of car ownership entirely.

Just imagine being free of oil changes, gas prices, insurance, tire problems and tune-ups.

Not so fast, though. According to recent studies, whether you're better off owning a vehicle or solely using ride-hailing apps and rentals depends on who you are.

Related: 10 brands ranked highest in overall vehicle dependability: J.D. Power

The case for car ownership

If you're an average Joe (or Jane) with a job to get to and places to go, going carless is probably not going to make financial sense, according to a recent a study by the AAA Foundation — even with the advent of ride-hailing apps.

"With the average American city-dweller driving nearly 11,000 miles per year, a personal vehicle is still the more cost-effective choice," says John Nielsen, managing director, automotive engineering and repair for AAA.

Take the average of 10,841 miles per year and ring up the cost of using ride-hailing apps, and you're looking at more than $20,000, according to the AAA's annual Your Driving Costs study. On the other hand, let's say you've bought a new car — the costliest form of ownership. Your annual cost for those same miles, according to the same study, is $7,321.

Even if you work downtown and throw in premium parking fees, ride-hailing apps are still more than double the cost of car ownership.

"For those who travel a very limited number of miles annually or have mobility issues that prevent them from driving a personal vehicle, ride-hailing can be a viable and important option," Nielsen says "But, for everyone else: The car is still king."