Drop the car in Milan and forego the car in Lake Como or keep it while in Lake Como for exploring?
We did the Como area without a car. Mostly we used the ferries to crisscross the lake. We also rented bikes and rode to Lake Lugano one day (I got an ebike, my husband a road bike). To leave, we took the train down the east side of the lake to Milan. I suspect that parking can be a pain in the small towns around the lake. Hope that helps!
Which town(s) are you planning to visit?
A car is more likely to be a liability than an asset most places around/at the lake
It depends on what you want to explore. If itβs just the towns on the lake, the ferries will suffice. Also it depends on whether you need the car after visiting the lake, in which case you might as well keep it.
We spent two weeks in Bellagio without a car and used the ferry to travel the whole lake, end to end, side to side. Parking is practically non-existent unless you stay at, for example, Hotel Belvedere and a few other hotels.
The ferries are great. Nix the car.....take the ferries.
We took the train from Milan to Varenna and then ferries to Menaggio and Bellagio. Didn't miss having a car at all.