About Car / Motorbike Sharing
Read the free Vehicle Share Factsheet, which provides further information and guidance about sharing a vehicle with others.
There are many reasons why people might want to share a car, but the main benefits are the following:
- Financial reasons - By sharing a car with others you can split the costs of owning, keeping and using the car between more people and reduce the amount each person pays towards their travel costs. By sharing with other people you might be able to afford that car you have been dreaming about!
- Environmental reasons – A car sharing scheme means that each sharer no longer has unlimited access to a car. This will encourage the sharers to think about the journeys they make and whether they could replace some trips in a car with cycling, walking or taking a train or bus. Also, a car share scheme will help to reduce the number of vehicles that need to be manufactured and scrapped, thus wasting fewer precious resources.
- Community reasons – Car sharing means that fewer cars will be parked on local streets and lanes, and congestion should be reduced for those people who do have to drive.
Often all of these factors will come into play together, as in the following example:
Three families each have a car parked on the same street, and they get together and decide that they could share one car between them instead. The families will all save money by no longer paying separately for road tax, insurance, servicing, parking permits, MOTs and breakdown cover – all of these costs can be split between the three families. The fact that the three families are sharing one car between them means that they will think more carefully about how to travel on each journey that they make, and are more likely to use public transport and to share lifts with others. There will be just one car parked on the road in their local area rather than three, and this one car will be better utilised.
For people who are interested in car sharing we sell two different car share agreements:
- For use when all of the sharers will own shares in the car (also known as fractional ownership)
- The running costs will all be split between the sharers in proportion with their share in the ownership of the car
- For use when one sharer will own the car, and will then charge the other sharers a mileage rate and also an annual rate to cover the costs of running the car
To buy an agreement or to find out more about their content and application, click on the links above.