Not everyone can live without that red mark in the ledger, but we'll help you find out if you might be a candidate. Where I live in Atlanta, the necessity of owning a car is highly subjective. In some areas, it's not possible to get by without a car, as everything is miles away.
A continuously variable transmission (CVT) (also known as a single-speed transmission, stepless transmission, pulley transmission, or, in case of motorcycles, a twist-and-go) is an automatic transmission that can change seamlessly through a continuous range of effective gear ratios.
True on both counts, but it's only the Formula One transmission because the CVT was banned from Formula One. It's the tame housecat to the CVT's mountain lion, if you will, and it's primarily chosen by people who are afraid of stalling their Porsche in traffic.