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1.  
While car
ownership is more about the status symbol, car sharing is more about getting
access. Car ownership symbolizes freedom and independence. Car sharing is
growing in popularity as more people are migrating to densely populated cities
and people are also getting comfortable with the shared economy. Owning a car cost
higher since it incurs insurance rates, parking fees, depreciation and wear and
tear. Car sharing comes with a small membership fee and numerous discount
packages suiting the demand and use of the customer. For people who consider
money an important criterion would definitely go for car sharing as it saves
money. People who are rich would never like this idea of car sharing as to
them, the authority, independence and status carry more value than money. For
instance, Zipcar which runs in Los Angeles charges frequent drivers $8.10 per
hour from Monday to Thursday and $9 on Friday and weekends. Zip car does bill
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 (earthfriends.com, 2017).
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 a 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 the 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. One gets reward points 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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