Car sharing comprises a fleet of cars shared among different patrons, like car rental service. However, a car-sharing differs. In that, you can rent a car on an hourly basis, instead of day-wise or week wise. Car sharing services are generally “free-floating”, implying instead of visiting a rental office to find a car, they are “roaming” around the city. They are located through the mobile app of the company. You simply choose a car on the app, walk, and get the car on the rent. Sometimes, car sharing is confused with ride-hailing or ridesharing, but it is a bit different. With ride-hailing and sharing, you depend on someone else for driving. With car sharing, you can drive the vehicle yourself. To get rid of the confusion, let us see the pros, cons of car-sharing, and owning.
There are many car-sharing services, each of them having their own advantages and disadvantages. Some services come with long-term sharing programs, while others provide a huge extensive selection of vehicles.
Pros and cons of car-sharing
Economical- Car sharing can save a substantial amount of money. If your daily commute includes more frequent trips, or you depend on public transportation most of the time, car sharing is a much more affordable choice when compared to owning a car. There is no sense in spending such a huge amount of money to buy a car that will not be driven.
No maintenance and repair costs- Maintenance cost is taken care of by the car-sharing service. So, you don’t have to worry about tire rotations, oil changes, and other regular maintenance work that comes with car ownership. You don’t have to fix a budget for more expensive repairs, like a transmission substitute.
Drive a different car every time- It’s fun. With car sharing, you get the chance to drive a new car every time, and that can be exciting.
While car sharing has its advantages, it might not be viable for everyone. Here are certain things to consider:
Cons of car sharing
Chances of losing your car- If you have multiple spots, leave the meter running. You might save some money by turning off the meter when you stop multiple times, but if the meter is off the car is “on the market.” As discussed, car-sharing services are free-floating. There is a risk of losing your car to some other driver if you do not leave the meter running the whole time.
Not for emergency situations- Car sharing does not fit right for emergency situations as there might not be a car around when you require.
Car ownership
Vehicle ownership is a necessity for most of the families, even though car sharing has its own benefits. It also comes with some pros and cons.
Car Ownership Pros:
Always accessible- Having your own vehicle brings freedom along with it. If there is an emergency or a sudden plan to go out, or if you want to go for a vacation, having your own vehicle makes things easy and simple.
Personalization- For some people, their car showcases their personality. People personalize their vehicles in different ways from custom paint and rims, attractive interiors, to modifications in engine and suspension. With car sharing, one cannot do any personalization.
Car Ownership Cons:
Insurance expenses- Insurance and registration expenses vary according to model and manufacturing, your driving history, and place. Monthly insurance costs can be costly, and if you don’t drive your vehicle regularly, it can be a waste of money.
What to Choose?
The best way to come out of this confusion is to have a look at your regular routine. If you can take public transportation to work or if your office is within walking distance from your home, then you can choose car sharing. However, if things are far away, and public transportation is not available, then owning a car is the best option.