Flexcar
What if the best second car is no car?
No, this isn't cryptic fortune-cookie advice. It's a suggestion that some urban drivers may be better off joining a car-sharing service like Flexcar, if they're considering picking up an additional vehicle intended only for occasional use. Why pay the taxes, insurance, and depreciation? Why let inconsiderate city dwellers ding your doors? Why even pay for gas?
"We take care of everything--maintenance, gas, registration, and insurance," says Neil Peterson, president and CEO of Flexcar, the nation's largest car-sharing service, with 225 cars in six metropolitan areas. The average Flexcar member spends $85 a month to use the service's cars, compared with $650 average monthly expenses for a new car, according to Peterson. Flexcar charges $8 an hour for use of one of its vehicles, which are mostly Honda Civics.
If a different vehicle is needed, Flexcar offers Ford Ranger pickups, Mazda Miata sports cars, Honda Odyssey vans, and other cars in more limited numbers. Even Acura TL luxury sedans are available for important occasions. How many shoppers buy an SUV because they want to haul mulch from Home Depot twice a year? A Flexcar Ranger would do the job.
If you get low on gas in a Flexcar, just pull into a gas station and fill 'er up using the company's credit card, and they'll credit your account two bucks for your trouble. While Flexcar may look like an ideal solution for urban students, the minimum age to join is 21 because of insurance requirements. Flexcar is growing rapidly, snagging 9000 members in the three years it's been in business. The company plans to operate in the top-30 metro areas in the U.S. within five years, making car sharing a viable option for even more consumers.
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