Unfortunately I do not know of any long-term free parking in that area. However you do have a few options besides paying to park at the pier. You can park on Ocean Blvd, where there are meters, I think that they are two hour meters. Your other option is to park in one of the Santa Monica Structures now operated by Central Parking Systems. At those lots (there are 9 of them), most on 2nd or 4th street between Wilshire and Broadway, you get two hours of free parking as long as you enter before 6:00pm. After that there is a nominal fee per each 30 minutes with the maximum ticket cost being $7.00.
I hope this helps.

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