While, sharing makes more financial sense. The balance

While, car ownership is more about status symbol, car
sharing is more about getting access. Car ownership symbolizes freedom and
independence. Car sharing is growing in popularity as more people are migrating
to densely populated cities and people are also getting comfortable with the
shared economy. Owning a car costs higher since it incurs insurance rates,
parking fees, depreciation and wear and tear of car. Car sharing comes with a small
membership fee and numerous discount packages suiting the demand and use of the
customer. For people who consider money an important criterion would definitely
go for car sharing as it saves money. People who are rich would never like this
idea of car sharing as to them authority, independence and status carries more
value than money. For instance, Zipcar which runs in Los Angeles charges
frequent drivers $8.10 per hour from Monday to Thursday and $9 on Friday and
weekends. Zip car does bill customer for tolls but one does have to pay for gas
and parking which saves a lot of money and adds another financial incentive.
One just has to pay an initial membership fee of $25 to become a member
(earthfriends.com, 2017). Owning a more expensive car comes with a higher loan,
insurance and fuel costs- ride sharing makes more financial sense. The balance
between convenience and cost is a key consideration for car sharing people and
makes them feel satisfied by saving lot of pennies. Car owners for whom money
saving is not important, go with owning expensive cars because that is what
makes them feel proud and satisfied. Shared mobility services can help in
reducing environmental pollution due to decreased number of vehicles on the
road. A study on Car2go- the largest car sharing operator in the world,
estimated a decrease in greenhouse gas emissions. For people who are physically
disabled, car sharing can be a good alternative rather than owning a car. Many
car sharing companies reward you with benefits. One gets reward points on each
ride. The reward points can further be redeemed for airline and amusement tickets
which make the user willing to take more rides. Referral system also rewards
the user with points which can be redeemed. So also for senior citizens who do
not want to depend on others, car sharing can be a good option to commute
rather than dependency on younger ones.

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