City dwellers who drive occasionally could benefit from ditching their cars and joining a car club instead, according to new research from Which? Money.
The study, published in the February issue of Which? Money magazine, took into account fuel, insurance, servicing costs, road tax, RAC membership, depreciation and finance costs.
The results showed it would cost £3,550 a year to run a car if you drove 3,000 miles over a year. However, if you signed up to Zipcar – the cheapest car club according to our independent study results – the total cost would be £800 less.
Car club or your own car?
Which? Money experts compared the annual cost – based on driving 50 miles-a-day for three, five and seven individual days a month – of being a member of the four major car clubs (Streetcar, Zipcar, City Car Club, Connect by Hertz), against the cost of owning an equivalent one-year-old, medium-sized used car. The results indicate that joining a car club could be more cost effective for infrequent drivers.
Which? Chief Executive Peter Vicary-Smith commented: ‘If you live in a major city it’s worth investigating whether joining a car club would be a savvy financial choice for you. With research suggesting that one car club car typically replaces 24.5 private vehicles, it may also be the most ethical way to negotiate the roads.’
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