Car sharing has quickly become an ideal alternative to traditional car rental thanks to the convenience it offers, lower costs, and the environmental benefits that come with renting a car for a short period of time. However, many people still aren’t quite sure how car sharing compares to traditional car rental and how it works.

How is car sharing in Toronto different from traditional car rental? What are the potential positives of car sharing?  Is car sharing less expensive than car rental? Does car sharing provide any environmental benefits?

These are all questions that we are going to answer in this article.

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What Is Car Sharing and How Does It Work?

Car sharing refers to renting a vehicle for a short period of time, from a private owner, through a peer-to-peer car sharing marketplace.

In other words, a car owner rents their car to individuals for a short period of time and the users only pay for their usage. When you rent a car from a private owner, you’re billed based on how long you have the car and the distance traveled.

A private car owner simply lists their vehicle on an online car sharing service and they’re given a user profile that is displayed on the platform. People who wish to rent a car share will visit the site and choose the vehicle they want to rent and then make payments. 

Once all costs have been paid, delivery or pick up is arranged. The car is then returned to the owner when the person renting the car share is done as   

It’s important to understand that car sharing is a type of car rental but it differs from traditional car rental in various ways.

Car sharing in Toronto is a convenient option for people who want to access the perks of using a car without incurring the high cost of buying one.

Car sharing in Toronto should not be confused with ride-sharing services like Uber. Rather, it allows people to rent cars for short periods.

The Benefits of Car Sharing

Save Money

Owning a car is expensive because you’ll have to pay your monthly car payment, pay for insurance and keep up with routine maintenance. Besides, cars lose value over time.

Switching to car sharing can help you save on insurance, routine maintenance, gas, taxes, and other fixed monthly costs. The average annual cost of new vehicle ownership in Toronto is higher than the average annual cost of car sharing in Toronto.  If you don’t drive much, car sharing makes more financial sense.

Environmental Benefits

Car sharing in Toronto helps to reduce the number of cars on the road and this comes with environmental benefits. Fewer vehicles on the road means reduced CO2 emissions going into the atmosphere. If you’re concerned about carbon emissions and pollution, car sharing is a great way to achieve this end.

What Is Traditional Car Rental and How Does It Work?

Traditional car rental refers to renting a vehicle from a rental company that maintains a standardized fleet of cars. 

One of the advantages of traditional car rentals is that they offer a variety of vehicles to choose from. Whether you’re looking for a simple car to commute to work or a high-end vehicle that will help you make a statement, traditional car rentals have a wide variety to choose from. 

In car sharing, cars are rented to you by private car owners through a peer-to-peer car sharing company. On the other hand, traditional car rentals are run by car rental companies.

When private car owners list their vehicles on a peer-to-peer car sharing platform, it’s their sole responsibility to maintain the cars and keep them in tip-top condition. But for traditional car rentals, it is the responsibility of the car rental company to maintain the vehicles.

Although terms vary with every car sharing platform, most car sharing services offer commercial auto insurance for owners, renters and third parties. Car renters can choose to rely on the car owner’s personal insurance policy or pay extra for additional benefits.

For traditional car rental, it’s your personal comprehensive insurance plan that will protect rental cars.    

Bottom Line

Car sharing comes with many benefits and that explains why it has become a popular alternative for traditional car rental in Toronto.