Possible pathways to reach the International Maritime Organization’s GHG emissions reduction targets for international shipping include selecting zero-carbon or low-carbon fuels or propulsion technologies, reducing the average speed, and reducing fuel consumption. This study investigates the use of wind as a zero-carbon propulsion source for an ocean-going car carrier and compares it to conventional and low-carbon fuel options. Specifically, the study assesses the life cycle climate impact and cost of a car carrier using a fixed sail wind propulsion system and compares it to a car carrier without wind propulsion system using alternative fuels in internal combustion engines. Life cycle assessment and life cycle costing are used, and the study utilizes technical data and cost information from scientific literature and reports. Preliminary performance routing data for the case study vessel is also used. Total GHG emissions as well as annual and total cost of ownership is significantly reduced by using free and abundant wind as the main propulsion energy source on a modern ship specifically designed for wind propulsion. Using a preliminary performance routing in the North Atlantic, the wind-powered car carrier can reduce fuel consumption by 80% compared to a ship without sails using the same hull. Although the addition of a wind propulsion system comes at a higher initial investment cost and increased GHG emissions from construction and scrapping, the reduction in fuel consumption creates significant financial and environmental gains.