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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 densely populated cities and people are also getting comfortable
with the idea of 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 numerous 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. 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 does bill the 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. 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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