Welcome to the Disney Parks Moms Panel Felicia ~
I love being a Walt Disney World Annual Passholder and all of the many benefits that come with it! One of my favorite benefits is that parking is complimentary at the theme parks - yay!!
There is
complimentary bus service that runs between the theme parks that you can take from Magic Kingdom to Disney's Hollywood Studios. Depending on the park hours and what time the Magic Kingdom closes, you may or may not be able to take a bus back to the Magic Kingdom after you visit Disney's Hollywood Studios.
If you do not plan to enter the Magic Kingdom again after you have finished at Disney's Hollywood Studios for the evening, I would just plan to drive. That way, when you are tired at the end of the evening, you can hop in your car and head back to your hotel room without the extra time it would take to go back to the Magic Kingdom parking lot for your car.
If you decide to leave your car at the Magic Kingdom parking lot, I would take a bus back to Disney's Contemporary Resort or Disney's Polynesian Village Resort instead of the Magic Kingdom, even if the Magic Kingdom is still open. From the Contemporary Resort, you can hop on a monorail back to the Transportation and Ticket Center to catch a tram to get your car. From the Polynesian Village Resort, you can walk to the Transportation and Ticket Center to get on a tram.
Please feel free to visit us again with all of your planning questions. We are hEAR for you!
Wishing you minnie magical memories :-) Allison V.