Want to enjoy the convenience of a car without the financial commitment of owning a car?
You’re not alone. Good thing is, with car sharing platforms on the rise, you have plenty of options to choose from.
Singaporeans would unanimously agree that buying a car is one of the most expensive financial endeavours.
With cars priced at six-figure digits, owning one easily sets you back by a few years (sometimes, a decade) in your pursuit for financial freedom.
Luckily, the recent rise of car sharing platforms in Singapore has given us a viable option to enjoy the advantage of car ownership without the financial obligation that almost always comes attached.
Car sharing options: How much does it cost?
Company
Fleet size/Car sharing stations
Rental fee
Subscription fee + commitment period
Petrol
Driver Age
Tribe Car
Fleet size: 350
Number of car sharing stations: 350+
Super off-peak: $4.28 per hour
Off-peak: $6.42 per hour
Peak: $10.70 per hour
Daily (Mon-Thu): $90.95
Daily (Fri-Sun): $112.35
Late charges: $10.70 for every 15 minutes
NA
Pay per use
Note: You will have to top up fuel and return fuel at any level so long as the fuel light does not come up. If the next hirer reports that the fuel light comes up, Tribe Car will deduct $20-$50 from your account
Between age 23 and 65
Drivers below 23 will be subjected to additional security deposit and 30 per cent surcharge for booking
Car Club
Fleet size: 280
Number of car sharing stations: 110+
Basic plan
Weekday: $10-$14 for first hour; $2.50-$3.50 for every subsequent 15 minutes
Weekend: $11-$15 for first hour; $2.75-$3.75 for every subsequent 15 minutes +(distance charge) $0.30-0.40 for each km driven
Value plan
Weekday: $9-$13 for first hour; $2.25-$3.25 for every subsequent 15 minutes
Weekend: $10-$14 for first hour; $2.50-$3.50 for subsequent 15 minutes +(distance charge) $0.20-0.30 for each km driven
Membership fee: $10.70 per month
Registration fee: $100
Commitment period
Basic: None
Value: Top up $50 driving credit every month
Fuel included in fees
Fuel can be topped up for free using Esso Speedpass attached to the vehicle key
Note: User needs to return the vehicle with at least ¼ tank fuel
At least age 22 onwards
BlueSG
Fleet size: 530
Number of car sharing stations: 325
$0.33 per minute
Premium plan comes with free 45 minutes’ drive per month
Subscription fee
Basic: $8 per month
Premium: $18 per month
Commitment period
Basic: None
Premium: 6 months
NA
BlueSG uses electricity
At least aged 21
WhizzCar
Number of car sharing stations: 50+
Standard plan: $13-$15.80 for first hour; $5.97-$7.37 for every subsequent 30 minutes + (distance charge) $0.43 for every km driven
Or $127.12 – $170.87 per day
Extra Value plan:
$10.86-$14.50 for first hour; $4.90-$6.75 for every subsequent 30 minutes + (distance charge) $0.43 for every km driven
Or $95.02 – $140.33 per day
Whizz-Ezzy plan:
$16.90-$20.54 for first hour; $7.76-$9.58 for every subsequent 30 minutes + (distance charge) $0.43 for every km driven
Or $165.26 – $222.13 per day
Subscription fee
Membership fee: $10.70 per month
Registration fee: $107
Commitment period
Minimum 12 months for Standard, Extra Value membership
To attain the Extra Value membership, you will need a minimum usage charge of $60 per month
Fuel included in fees
User has to refuel at any Esso petrol station using the Speedpass attached to the key
Note: Petrol level needs to be above ½ tank when returned
Between age 21 and 68
Car Lite
NA
Weekday (12am to 5pm): $1-$2 for every 15 minutes; $60-$83 per day
Other timings: $1.60 – $2.80 for every 15 minutes; $80-$110 per day
Late charges: $10 for every 15 minutes
NA
Pay per use
Note: Petrol level must be above ¼ tank when returned
Above age 22
For drivers less than 22 years of age and/or 2 years of driving experience, additional security deposit is required
Things to know about using car sharing services
While price is the primary factor that most people consider when using car sharing services, it isn’t the only one. There are other watchouts that need to be considered before making an informed decision.
We’ve listed these out for you to take note of:
1. Safety deposit
The fees for car sharing services are fairly reasonable at a few dollars an hour. However, there’s the ‘hidden cost’ of a safety deposit that you’d need to place with the car sharing company.
While the safety deposit is fully refundable upon cancellation of membership, it is an upfront cost that you need to consider.
Company
Tribe Car
Car Club
BlueSG
WhizzCar
Car Lite
Safety Deposit
$100
$200 for drivers below age 23
$100 for Singaporean/PR
$200 for foreigner
–
$100 for Standard, Extra Value membership
$200 for drivers below age 23
$100
$200 for drivers below age 22 and/or 2 years driving experience
2. Miscellaneous fees (ERP, carpark, petrol)
Another set of hidden costs of car rental could be miscellaneous fees like ERP, parking and petrol. Some (or all) of these fees have to be borne by you, depending on the car sharing platform you are renting from.
And if you happen to be renting quite often, you could rake up a few hundreds of dollars from these miscellaneous fees alone.
So, make sure you do your math before you decide to make your next car reservation on any car sharing platform.
3. Location and accessibility
The reason you want to use a car sharing service is because you want the convenience of having a car to drive around in. That’s why location and accessibility of the rental car’s location is important.
It doesn’t make much of an economic sense if you end up having to take public transport or Grab to a faraway car station, just because you want to save on rental fees.
So, before you rent a car, make sure to check where the nearest car station is located from your home.
4. Late penalty fees
Nobody sets out to be late. But we’re only human. Therefore, it is prudent to account for the financial penalties that will be charged to you when you are late in returning your rental car to the car station.
How do you rent a car from a car sharing platform?
Once you’ve done all these important calculations and decided that car sharing is indeed the right option for you, the next step is to go ahead and rent a car (of course).
Now, most car sharing platforms follow a 5-step rental process:
Apply for a membership on the car sharing platform
Receive a smart pass (Car Club)/key fob (Car Club)/BlueSG card that is used to unlock the car
Reserve a car online or via the mobile app
Collect your rental car at the car station. You can unlock the car via the app or the key provided by the company
Return the car to the car station before the end of your reservation period
Car sharing is a smart option for those who don’t drive often. It lets you enjoy the flexibility and convenience of a private car while helping you avoid owning a depreciating asset, thereby bringing you one step closer to financial freedom.
This article was first published in SingSaver.com.sg.
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