To help cut down on driving, car sharing has been very popular. The reasons individuals choose to participate in car-sharing are varied – everything from cost-savings to reduced environmental impact. Car sharing isn’t really accessible in every city across the nation yet, though. A good option may be making your own car sharing but keep a few things in mind.
1 – Who will own the vehicle?
The first thing that needs to be decided is who’ll ultimately be responsible for the vehicle. Unless you start a company or LLC that will own the automobile, someone will need to be ultimately responsible for the money, maintenance and management of the automobile. At least a basic contract should be drawn up and signed by all individuals sharing the vehicle.
2 – Insurance
As a part of the car-sharing group, the head person should make certain that the insurance will cover the car, no matter who is driving it. If the car can be shared more than 30 to 40 percent of the driving time, you will need to check with the laws of your state. If you don’t share with your insurance business the car is regularly used by others, that could end up not getting you your money. .
3- The cost of sharing
Figuring out the costs of car-sharing is one of probably the most difficult things for a car-sharing group. Monthly payments can be separate from the operating costs. You are able to split the monthly payment as a monthly fee of sharing the car. The operating costs of the car are the other consideration. You are able to add all the fuel, insurance, and maintenance fees together. You are able to divide the total by the number of individuals or the number of miles. Alternately, set a “per mile” rate for the car, intended to cover all the operating costs. The US government sets that rate at 50 cents a mile. Depending on the cost of fuel and insurance, an average per-mile sharing rate should be someplace from 50 cents to $1 per mile.
It could be worth it to figure out what will officially be the costs of sharing. Until ZipCar, Hertz Go, or some other kind of car-sharing network makes it to your city, it could be a great way to reduce your cost and reduce your environmental impact.
