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Car ownership is more concerned about status symbol whereas
car sharing is more about getting an access. Car ownership symbolizes freedom
and independence. Ride sharing is growing in popularity nowadays 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. Elite sections of the society would never like this idea of car
sharing as to them authority, independence and status carries more value than
money. For instance, zip car 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
charge 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 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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