Car Sharing Programs: Should You Turn in YOUR Keys?

What would you say if someone told you that you could reduce your average monthly transportation bills from $600 to $150 and all you have to do is trade your car keys for a key card?

In more than 40 cities across the United States and even some cities in Canada, people are being given this option. Companies, such as the Seattle based FlexCar, are providing urbanites the opportunity to garage their gas guzzling SUV's and "share" a hybrid car with other participants in the program. For just $40 annually and a $10 per hour sharing fee, many people in these cities are finding that the car share programs are not only great for the environment but also kind to the pocketbook.

But how does it work?

Participants utilize public transportation systems, taxis, bicycles, roller blades, any form of non-personal or non-motorized transportation, as their personal vehicles have been garaged in a safe facility, and use the shared cars for errands, trips, in climate weather, any situation where riding a bicycle may be inappropriate or ineffectual. The participants keep the title and ownership of the vehicle but instead of crowding the streets and highways and polluting the air, they are sharing fuel efficient cars with others who are looking to save a few dollars and protect the environment. This way, if after a year in the car sharing program, they are displeased with the system, they can retrieve their keys and their car from storage and go about life as usual. If, however, they decide that the car sharing program works well for them, they can sell the car, either to the company or on their own, privately.

Once they have turned in their keys, they are given a key card which, when swiped through the reader on the shared cars' doors, will unlock the doors and start charging their account at a rate of $10 per hour (special rates are applied for participants using the shared car for a long trip which will require them to have the car "checked out" for any more than a single day).