According to Edmunds, the monthly cost of car payments totals a record $1,000+ (not to mention the additional costs of insurance, gas, maintenance and parking) and interest rates have hit their highest level since 2006. This is a hefty price tag that most Americans cannot sustain. In fact, more Americans are at risk of car repossession. For some, cars are a necessity, we know. But for those living in the city, there are convenient and affordable options: public transportation, biking, walking, and car sharing. 

We know that car sharing can save our members $900 on average per month, especially when factoring in the additional costs of insurance options, parking, gas and maintenance, all of which are included in the cost of a Zipcar membership. 

Car ownership is the second biggest cost to households (after a mortgage or rent) and yet, this costly possession sits unused and parked 96% of the time. As the challenging economic environment persists throughout the United States, many people continue to re-evaluate their everyday expenses (especially younger generations), with 1/3 of Americans saying one of their New Years’ Resolutions was to build an emergency fund (source).  

According to Zipcar’s 2022 North American Transportation Survey, members take purpose-driven, multi-modal trips – a walk to the park, transit to work, rideshare to a restaurant and carshare for errands, for example. Car sharing enables 45% percent of Zipcar members with a household income of less than $75,000 to access wheels when they want them for errands, appointments, grocery runs, and visits to family and friends, and because of affordable, convenient access to vehicles, 76% of Zipcar members with incomes of $100,000 and below say Zipcar has improved their quality of life.

So, why stress about the costs of car ownership when you can own the drive and not the car?