Comparison of the costs of CarSharing vs Car Owning

Average monthly expense	CarShareHFX	Owning New	Owning Used
CarShareHFX Household Membership	< $17	–	–
Purchase payment (Lease or Loan)	–	$400	$200
Depreciation	–	$80	–
Insurance	–	$125	$100
Licensing & Registration	–	$10	$10
Maintenance & Repairs	–	$25	$200
Overnight Parking	–	$50	$50
Fuel	–	$40	$40
Monthly Cost at 15 CarShare hours	< $150	–	–
Monthly Total	< $167	$730	$600
Annual Cost	±$2,000	$8,760	$7,200
Annual savings with CarShareHFX		±$6,760	±$5,200
Assumptions: New car purchase price for ±$20,000 payments over 4 years at 0% financing. New car maintenance minimum (snow tires) Used car purchase price for ±$5,000 payments over 2 years at 0% financing. Used car required maintenance (oil, coolant changes and tune-ups) and replacement costs to all critical motor vehicle systems: brakes, battery, tires, exhaust, cooling system, etc. Used car insured for liability only (no collision insurance). Fuel cost based on driving 1,500 km/month at 40 km per litre at $1 per litre. CarSharing costs based on industry average of 15 hours per month and may vary depending on use (for example ±$600 annually for 10 or 20 hours per month). For more information on the true costs of owning and operating a vehicle see the Canadian Automobile Association's 2009 Driving Costs Brochure (120K PDF) This makes cents! Is it for me?   Is it for my workplace? Hmm, I still have questions. Where can I find answers? Sounds great! How do I join?