Carsharing in Singapore: Is it right for you? [Infographic]
3.4 min read
Yes, buying a car in Singapore is ridiculously expensive, but it’s still possible if you’re willing to pay for the privilege. However, there are alternatives to car ownership that enable you to drive without having to pay a hefty car loan — and one of them is carsharing.
Curious? Awesome, because we’ve created a nifty little infographic to help you decide whether carsharing is right for you. But first, read on to learn a little more about carsharing in Singapore and its benefits. ☕️
What is carsharing exactly?
Carsharing is a type of car rental service that enables you to book a vehicle for short periods of time ranging from 1 hour to several days.
Carsharing is not the same as traditional car rental, as the booking process, location of vehicles, usage, and support are quite different.
Here are the key differences:
Interested in learning more about carsharing? Here’s our guide to everything you need to know about carsharing in Singapore.
What are the benefits of carsharing?
(Photo: Toyota Singapore)
Whether you’re rethinking the costs of car ownership, an expat looking for an easier way to drive, or a licence holder who doesn’t own a car — carsharing benefits just about every kind of driver.
Here are just a few:
- More savings: The biggest cost savings is not having to buy a car in the first place. Depending on the carsharing service, you may only need to pay for the time and distance driven. Some companies also cover insurance, maintenance, and petrol.
- More availability: Many carsharing companies are available 24/7, unlike traditional car rental companies that operate during office hours. So if you’re craving supper at 2am, all you need to do is book a car and drive.
- More accessibility: You don’t need to visit an office or travel far to rent a car from a carsharing service. In Singapore, it’s possible to find and book a vehicle that’s only minutes away from your neighbourhood.
- More variety: When you buy a car, you’re stuck driving that one car. With carsharing, you can drive any vehicle that suits your driving needs. You can book an SUV for an outing with friends one day and a cargo van to haul furniture the next.
- More eco-friendly: Carsharing helps reduce the number of cars on the road, which means less kilometres driven and reduced emissions. Some companies even have electric vehicles (EVs) available, further reducing emissions.
Is carsharing right for you?
Thinking about switching from car ownership to carsharing?
If you’ve read our article on how much it costs to buy a car in Singapore, you’ll see that the total cost doesn’t end with paying the Open Market Value (OMV), Certificate of Entitlement (COE), and other fees.
You also have to pay for fuel, maintenance, parking, insurance, and car loan repayments on a regular basis — which can have a big impact on your monthly budget.
If you’re questioning car ownership because you don’t drive very often, then carsharing may be a better option. That’s because you can pay as you go without dealing with the financial burden of car ownership.
Enjoy your drive!