Car Ownership vs. Car Sharing: Which is Cheaper?

car ownership car sharing socar

car ownership car sharing socar

No matter which way you spin it, owning a car is a big financial burden. The price of a new car can be quite daunting, and that’s before you take into account other costs like loan financing, insurance, maintenance, and petrol. Sadly, many Malaysians feel pressured to take on the costs of owning a car anyway just for the convenience of getting around.

However, what if there was another way for you to get where you need to go – and one that is cheaper as well? That’s where SOCAR comes in.

SOCAR is an app that allows you to book from over 26 car models for your personal use by the hour, day, or week, so you get a car to drive without the financial burden of owning one. Car sharing with SOCAR is not only as convenient as driving your own car, it can also be cheaper! And we have figures to prove it.

SOCAR car ownership vs car sharing toyota vios infographic

As you can see, car sharing a Toyota Vios with SOCAR can save you more money compared to owning one yourself. With SOCAR, you don’t have to worry about rising petrol prices, car maintenance schedules, annual car insurance renewals, or the depreciating value of your car. When you book a car using the SOCAR app, there is no financial burden for you to carry for years and years – you just pay the SOCAR rental rate, based on how long you need the car.

So, instead of tying yourself down with monthly car loan repayments and rising maintenance costs, opt for car sharing and save money with SOCAR instead. You can find out more about SOCAR here.

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Wan Ikhwan W. Ismail
9 months ago

You forgot the equity of the car own….

Choo Kuan Wei
9 months ago

Rm4238 per year for maintenance? Really? Would love to see a breakdown of this number as well as all the other numbers

8 months ago

Car last more then 5 years

8 months ago

Wait, you’re telling me using socar, I don’t have to spend a dime on petrol?

8 months ago

There’s a lot of things which the author failed to clarify. And with socar, you can’t just rent and park (end the lease) anywhere. It need to be parked back at the designated spot. Too bad if you dont have spot at your office, that means you have to pay for 8+3hours per day (not including additional minutes if stuck in traffic)?

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