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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 insurance excess 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 excess 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 excess. 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 excess, or want to compare against another car share company) please read this post or get in touch!

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