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Car sharing costs compared

Should I buy a car or car share?

Owning a Car 1 Traditional Car Share Car Next Door
Initial purchase price or joining fee $20,000 $25-$49 $0
Depreciation $2,390 $0 $0
Finance charges / interest $775 $0 $0
Insurance / registration $2,260 $0 $0
Petrol, servicing, tyres 16c/km 40c/km (after included kms) 21c/km - 45c/km
Residents' Parking Permit $0-$270 $0 $0
Annual membership fee N/A $108 – $348 $0 – $228
Hourly / daily cost to reduce damage and loss liability 2 N/A $1/hr (min $5/booking) or $18/day $0
Total monthly cost
Light use: Drives twice / month 3 $465 $145 $105
Medium use: Drives 1-2 times / week 4 $482 $315 $190
Frequent use: Drives 3 times / week 5 $526 $650 $430

1 Using a Toyota Yaris 5 door automatic hatch for calculations

2 Cost to reduce damage and loss liability to lowest available level, while on a frequent user plan

3 Light use assumes one 3-hour booking and one all-day booking each month

4 Medium use assumes three 3-hour bookings and two all-day bookings each month

5 Frequent use assumes seven 3-hour bookings and five all-day bookings each month

Notes: There are a lot of variables involved in these comparisons. To keep things simple, we've looked at a typical scenario for someone who drives occasionally around the city, and wants to reduce their risk by opting for the lowest possible damage and loss liability. We assume that for each 3-hour booking you'll drive 30km and on each all-day booking you'll drive 50km. If you want a detailed cost comparison for a different kind of car use (e.g. if you take frequent long trips, or are comfortable with a high damage and loss liability, or want to compare against another car share company) please read this post or get in touch!

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