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Car ownership is more about status symbol whereas car
sharing is more about getting access. Car ownership symbolizes freedom and
independence. Ride sharing is growing in popularity as more and more people are
migrating to dense cities and people are also getting comfortable with the
shared economy. Car ownership costs are higher because of insurance rates,
parking fees, depreciation and wear and tear of car. Car sharing comes with a
small membership fee and various discount packages suiting to the demand and
use of the customer. People for whom money is an important criterion would
definitely go for car sharing as it saves a lot of pennies. 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 drives $8.10 per hour from Monday to Thursday and
$9 on Friday and weekends. Zip car bills drivers 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. 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 of 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 option rather than owning a car. Many car sharing
companies reward you with benefits. One gets reward points on each ride. The
reward points can be redeemed for airline and amusement tickets which makes the
user happy. 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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