Thanks bro. I am just comparing it with 5 yr old off peak used car.
For car club, the fixed cost is 100$ entrance fee and then 10.70$ monthly fee so that is about 230$ in fixed cost. An off peak plate car, the car parking itself will cost 65$X12= 780$ a year and then insurance premium about 1.5K for a small car like Kia picanto. Road Tax is about 70$. Car depreciation about 3k per year?, assuming you can get a 5 yr old off peak Kia Picanto for 15k. The depreciation is very unpredictable, may be the car's price may even appreciate if COE sky rockets,
So total fixed cost is about 6k per year, assuming COE stays at same level.
In an off peak car the variable is only the fuel costs which is frankly, negligible in comparison to its fixed costs.
So lets see many hours/miles of driving you get with carclub for 6k. Lets assume when you go out once you book the car for like 4 hours and drive like 30 kms. So cost per trip is 4X9.3$ + 30*0.37$= 50$ per trip. So for 6k you get about 120 trips a year or 10 trips a month.
Hmm, so if you are driving only on weekends, then Carclub and off peak car evens out, I think I would drive more frequently that once I have access to a car. Confused now.
I think the best thing to do is to get an awesome deal on a used car so that even after 2-3 years you can sell off at same price. I wish I can get a deal of that kind.