I Don’t Have a Car and Don’t Want One: Emergence of Car-sharing Organizations

Many in urban areas are finding that their automobiles are a burden, but can’t really do without one. Owning a personal vehicle is expensive: car payments, gas, insurance, maintenance, parking fees, etc. An automobile is ultimately a depreciating investment where you often pay more than the vehicle was worth on the showroom floor. Due to the stagnant wages of the middle class and subsequent decrease in discretionary income, automobile loans have become more long term; a five year or longer loan is not uncommon anymore. In the U.S and many other countries the automotive industry is very vulnerable to economic…