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A Personal Car vs Rental/Car Sharing: What to Choose?

The need to move comfortably is the basic desire of any person. Previously, the most common option was to have a personal car, and the choice was, roughly speaking, between acquiring a brand-new vehicle from the dealer or a used one in the secondary market.

However, recently, more and more people are claiming that owning something is not as cost-effective as renting. In this post, we are going to dwell on the matter and compare the main pros and cons of buying your own car, even a used one utilizing the VINCHECK service, as well as renting a vehicle.

The Appearance of Car Rental/Sharing Services

After the active development of taxi services, different options have appeared that made it possible to do without a personal car. However, the situation has changed dramatically only after the explosive growth of carsharing services. 

Taking into account the rising prices for parking, gasoline, and insurance, as well as carsharing advertising from everywhere and the development of car rental services by subscription, these factors can lead to a rethinking of one’s own spending on transport and the search for alternative options.

A frequent argument in favor of using carsharing instead of a personal car is the absence of the need to spend money on insurance, maintenance, gasoline, and parking. Straightforwardly, yes, carsharing really does not require taking care of a vehicle. 

Factors that influence the cost of carsharing services

  • The distance to the office from home: The longer it is, the lower the benefits of carsharing are.
  • The number of trips you need to make: The more trips on the weekend, the more carsharing will cost. 
  • If there is one more car in a family: Car sharing is a good option if it is a replacement for a second car in the family for one of the working spouses and combination with taxis and public transport. 
  • The number of family members: Statistically, carsharing is often a preferred option for singles.

Choosing in Favor of a Personal Car

For all its disadvantages and expenses, a personal car remains the only adequate option for families with children, since child seats, scooters, bicycles, spare parts, toys, and so on need to be transported together with kids. And it is way more convenient to store them in a car rather than take them every day from home to a rented vehicle.

More so, a personal car may be considered your asset since it can be sold at any time and converted into money for investment, for example, in real estate or other large expenses.

Final Words

Car rental and sharing are becoming more commonplace, and a lot of people find it more cost-effective. But if you need a car daily, especially on weekends, and you have a large family, buying a personal car will have much more benefits, not only financial ones but also those related to the comfort of your family.

Christopher Stern

Christopher Stern is a Washington-based reporter. Chris spent many years covering tech policy as a business reporter for renowned publications. He has extensive experience covering Congress, the Federal Communications Commission, and the Federal Trade Commissions. He is a graduate of Middlebury College. Email:[email protected]

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