What are the Pros and Cons of Car Sharing?
Car sharing is considered to be one of the most cost-effective and environment friendly ways to move about. At a time when cost cutting is the norm, a lot of people are opting for car sharing over car owning. Car sharing services are being regarded as a more practical option with the average cost of buying new vehicles rising more and more with each passing year. What are the Pros and Cons of sharing a car? Read on and know.
Pros of Vehicle Sharing
There are quite a few advantages:
- Choice - You can easily pick the type of car that you need for particular trips. If you have to drive to a grocery store or shopping mall, a small car can be just what you need. For a family vacation, an SUV will do. If you are moving, a larger truck will accommodate your needs. You can access many car sharing services through a simple smartphone app.
- Savings in money - With car sharing, you can save on the costs of car insurance, taxes, petrol, maintenance, vehicle registration, parking and quite a few other fixed monthly expenses. Such kinds of expenses are included in the per-hour or per-minute cost of vehicle renting. If you are on a budget and do not require a vehicle full-time, sharing can be a practical alternative.
- Eco friendly - If you are worried about pollution and carbon emissions, vehicle sharing can be an eco-friendly option to opt for. A fully electric vehicle or a hybrid vehicle can be enough for the requirements of most people.
- Flexibility - You can get behind the wheel effectively and easily, with no need to lease or buy a car. Basically, you have to choose a car, wait for it to arrive at your doorstep, drive it for the amount of time that you need and have it returned. Isn’t that simple!
- Scope of passive income - If you want, you can also make some passive income with the help of a new car ordered through a vehicle sharing service. For example, if you will be going on a long business trip overseas, rather than keeping your vehicle parked at the airport parking lot, you can earn some money even while being away.
Cons of Car Sharing
In case you live far away from drop-off points or parking garages, this might not be e a convenient option for you.
Also, if you need to drive daily, vehicle sharing can be expensive. This is also applicable in case you have to cover a large distance for commuting to your workplace every day.