Share My Ride
The high cost of owning a vehicle (the average household spends over $8,000 per year on transportation) is one reason why car-sharing companies are growing in popularity. The idea, which started in Europe in the late 1980's, allows people to rent vehicles by the hour, and it's gaining momentum in the U.S. Car-sharing companies now operate in over 40 U.S. cities.
As described in a SmartMoney.com article, after paying an application fee of about $25 and an annual membership fee of around $35, members gain access to a car-sharing company's fleet of cars that can be rented for $3-$10 per hour (including gas, insurance, and maintenance). The vehicles are kept in designated parking spots throughout a given city and can be reserved with as little as an hour's notice. Renters enter the cars by holding their membership cards over the car's card reader. The keys are inside. To see if your city has a car-sharing program, go here .
Matt's View
And now car-sharing is headed to campus. According to a Wall Street Journal article, one of the bigger players, Zipcar, plans to be on 40 campuses this year.
For anyone who's really serious about going car-less, check out the book How to Live Well Without Owning a Car . If instead of going completely car-less you're simply interested in using your car less, check out Walk Score . On the site you can type in your address and get a listing of businesses, libraries and more that are a short walk from your home. I found the site on a great car-sharing blog .
This article filed in: Vehicles
Managing Money by The Book
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