A survey of 1,000, commissioned by Uber Carshare - formerly Car Next Door - found 59% of respondents are now using their car less to save money.

With prices of most everyday household goods continuing to soar, it seems many Australians have identified fuel and other vehicle running costs as an area they can cut back their spending.

As a result, the average car is unused for 161 out of 168 hours per week, with 41% of respondents using their car less than four hours per week.

The average estimate respondents gave for their annual vehicle running costs was $14,799.

Around 1.1 million Australians are considering selling their cars altogether as inflation continues to bite.

Using peer to peer carsharing apps like Uber CarShare, users can make their cars available to borrowers whenever they are not using them. 

The tech giant suspended a disco finished car above Sydney on Wednesday in a publicity stunt designed to draw attention to the service.

Rsz_uber_car.jpg

The brand's survey found nearly half (48%) of respondents had either not heard of or not tried car sharing.

Uber say it has already paid out $60 million to users who have been renting out their cars.

Will Davies, CEO of Uber Carshare, says that these car sharing services are an opportunity for those with underutilised vehicles and those without a car at all.

“We want everyone to think differently about how they get around, and our research shows that the current cost of living crisis has gotten Aussies rethinking many aspects of their spending, including the costs of owning a car," Mr Davies said.

“[If] you don’t own a car – or your current car just isn’t right for a longer trip up the coast – there’s an easy, affordable option for you.”

Uber Carshare also announced new users who sign up will receive $200 worth of rides until 4 December.


Advertisement

In the market for a new car? The table below features car loans with some of the lowest interest rates on the market.

Lender

VariableNew1 yearMore details
  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.

New Car Loan - Home Owner Special

  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
FixedNew99 yearsMore details
Loan amounts from $2k to $75k
  • Available for any new motorised vehicle
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
  • Get quick decision. Funds in 24 hrs if approved
Loan amounts from $2k to $75k

New Car Loan

  • Available for any new motorised vehicle
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
  • Get quick decision. Funds in 24 hrs if approved
FixedNew1 yearMore details
Approval within 24 hoursEarly payout available
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
Approval within 24 hoursEarly payout available

New Car Loan - Special (Fixed)

  • Required: Good credit history, stable employment history. Aus citizenship or PR.
FixedNew2 yearsMore details

New Vehicle Fast Loan Low Rate

    Important Information and Comparison Rate Warning

    All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here.

    The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

    Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of May 26, 2024. View disclaimer.

    Cover image from John O'Nolan on Unsplash

    Suspended car from Jack Phillips and Snackable Media. Provided by Uber Carshare