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revhappy
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Car sharing

Postby revhappy » Sun, 06 May 2012 4:14 pm

Hey guys,

Any of you here use car sharing like whizz car or carclub? My motorcycle is fine while going to office but now that we have our baby daughter, can't use bike for family travel(if it was India then no worries 2 adults and 2 children can travel on bike :), but then in India there were 2 cars in the family anyways :lol:), and I hate public transport and taxi too. So considering car share thingy as my location in tampines is quite popular and there is carclub in the mscp in front of my block.

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Postby syamsulstar » Mon, 07 May 2012 11:50 am

I use KahShare. They will operate under carclub starting next month though. So far the service has been satisfactory. A lot cheaper than owning a car for occasional driving.

Since they have cars pretty close to your place, I'd say go for it. It's very convenient.

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Postby revhappy » Thu, 10 May 2012 4:06 pm

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, :lol:

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.

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Postby Strong Eagle » Thu, 10 May 2012 10:48 pm

revhappy wrote:So total fixed cost is about 6k per year, assuming COE stays at same level.


With the spike in COE lately, you'll be lucky to pick up a non off peak used car for $6K per year, just for the COE depreciation. I bought a Nissan Sunny last year, 5 years COE remaining... after all the math, about $5,000 per year, plus insurance, repairs, and fuel.


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