Car Sharing Costs Compared

Should I buy a car or car share?

Owning a Car (Toyota Yaris 5 door automatic hatch)Leading Traditional
Car Share Service
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, tyres16c/km40c/km (after included kms)33c/km
Residents’ Parking Permit$0-$270$0$0
Annual membership fee$0$108-$348$0-$228
Hourly / daily cost to reduce insurance excess to lowest available level (when on frequent user plan)N/A$1/hr (min $5,booking) or $18/day$0
Total Monthly Cost
Light Use: driving twice a month (one 3-hour booking and one all-day booking each month)$465$145$105
Medium Use: driving 1-2 times a week (three 3-hour bookings and two all-day bookings each month)$482$315$190
Frequent Use: driving three times a week (seven 3-hour bookings and five full-day bookings a month)$526$650$430

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!