As the recession bites and cost of owning a vehicle increases, more and more people are opting to ditch their cars in favour of a short term rentals as and when they need them. The benefits can be enormous but you need to weigh up all the options to see what’s right for you.
The first obvious benefit is that you no longer have to pay road tax or insurance. These will be included in the price of the rental. For some drivers without a ‘no claims bonus’, the cost of insurance can stretch into the thousands so this can mean a significant saving.
Another benefit is that freeing up your parking space can generate extra revenue! If you live near a town or city centre, or near to a popular attraction or sports ground, you may be able to rent y our parking space or driveway online. Parking in some city centres can cost hundreds or pounds per month, so savvy commuters may jump at the chance to get a discounted space, even if it means a slightly longer walk to work.
Many car hire companies now also deliver, so if you only use your car at weekends you could book your delivery for the Friday evening and have the car picked up on Sunday evening or Monday morning before you go to work, with a weekend rental starting from £45 from some companies, this is a perfect option for some.
Car clubs also offer an excellent alternative to car ownership, with the major players offering cars by the hour to pick up in thousands of locations, you simply search for your nearest location, book online then pick your car up by swiping your credit card across the windscreen to unlock the doors. There are often membership fees but if you only need a car a few hours a week, these car clubs can be a great idea.
The other main advantage is that you don’t have to worry about depreciation. An average family size car can lose up to £4000 a year in value so along with the running costs; you have the added problem of losing a fortune when you come to sell!
Of course rentals and car clubs aren’t for everyone. If you use your car daily then owning a car is going to be the best deal, or if it’s likely you’ll need to use your car in case of emergencies then you’ll probably want to have your car available 24/7 if not then part time cars is definitely worth a thought!