Ride Sharing vs Car Subscription How Do They Compare?

10.26.22 02:50 PM By Aria

Car ownership has its advantages, but the cost of having a vehicle is rising. That is why "ride sharing" and "car subscription" are becoming more and more popular, not just in the US but worldwide. However, while both sharing and subscription prices are designed to cater to those wanting more flexibility in using a vehicle, there are critical differences between the two that may be more or less suitable depending on your needs and lifestyle.  


What Is Ride Sharing?  


Ride sharing or car sharing is closer to typical car hire, except you rent the car on an hourly basis, whether that's a couple of hours or days. The vehicles you can access through a car sharing service may be owned by a car sharing company or by people in the area who want to rent out their own vehicles for specific periods of time, often referred to as 'peer to peer sharing'.  


Car sharing services are often "free-floating," meaning, instead of visiting a rental office to get a car, they are "floating" around the city. They are located via the company's mobile app. Simply select a vehicle in the app, walk up, and open the vehicle to "rent" it. 


This is distinctly different from a car subscription, where you have exclusive access to one vehicle for longer, whether weeks, months or years. 


What Is a Car Subscription?  


Vehicle ownership is still a necessity for most families, even though car sharing does have its advantages. However, not all of us are blessed to buy and own a car.  


The car subscription service shares some characteristics with rentals and leasing, but the distinctions can be vague. The subscriber pays a monthly fee for the car, with most or all costs included: maintenance, repairs, roadside assistance, registration fees, insurance, and taxes. Depending on the contract, the commitment period varies from one to several months or in yearly increments from one to two years or more. Typically, the longer the commitment, the lower the monthly fee. 


T4L, Transportation 4 Life, is one of the few vehicle subscription companies on the market today offering world-class car subscription service. As a member, you can experience all the benefits and perks other car enthusiasts cannot access.  


By 2024, car subscriptions are predicted to expand to $9.15 billion with a projected 63% compound annual growth rate or CAGR. This year, research from Ipsos says that the car subscription market will grow by a massive 71%.  


How To Get Started ? 


It is easy to get started once you sign up for membership. You can select two ways: via the concierge service or the DIY. All the details are on the T4L official website. www.T4L.m