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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 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 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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