Car prices in Singapore
We have reached a time where simple, budget consciouscars like the Toyota Corolla, VW Jetta or the Suzuki Swift has crossed the $100,000 pricing.
Bundle that with maintenance cost and rising fuel prices, and Singapore becomes the most expensive place to own a car in the Blue Planet.
With the new ARF rates and bank loan restrictions, owning a simple Japanese car might be a hurdle to many
The popular alternative - car rentals
Car rental, as it suggests, means that cars can be 'borrowed' for a period of time, usually from a day to as long as a month for a fee.
Car rental is a straightforward and common practice here especially during extended weekend holidays or during festive periods like Hair Raya or Chinese New Year.
Big players like Hertz are not as popular here as in western countries. In fact, due to competitive prices, most turn to smaller outfits, usually found through Classifieds or word-of-mouth recommendationsCar rentals offer the convenience travelling without having to commit to major costs akin with car ownership - like maintenance, taxes and monthly dues.
We have reached a time where simple, budget consciouscars like the Toyota Corolla, VW Jetta or the Suzuki Swift has crossed the $100,000 pricing.
Bundle that with maintenance cost and rising fuel prices, and Singapore becomes the most expensive place to own a car in the Blue Planet.
With the new ARF rates and bank loan restrictions, owning a simple Japanese car might be a hurdle to many
The popular alternative - car rentals
Car rental, as it suggests, means that cars can be 'borrowed' for a period of time, usually from a day to as long as a month for a fee.
Car rental is a straightforward and common practice here especially during extended weekend holidays or during festive periods like Hair Raya or Chinese New Year.
Big players like Hertz are not as popular here as in western countries. In fact, due to competitive prices, most turn to smaller outfits, usually found through Classifieds or word-of-mouth recommendations
Modus Operandi
Car rental companies offer a range of vehicles from normal family sedans to performance vehicles. Despite the no strings attached approach of car rentals, there can be a few drawbacks and we reckon the main problems are - location and duration of rent.
Car rentals operate like an interchange and more often than not, customers have to travel to a specific location to collect/or return the car.
Some rentals offer valet services but naturally these come with an additional fee.
Car sharing is not a new concept here, but peer to peer car sharing by iCarsClub is the first in Asia
Peer to peer car sharing
Peer to peer car sharing like iCarsClub serves the grey area between car ownership and car rentals. There are two aspects to car sharing - the car owner who is sharing his car, and the renter who is renting out his vehicle.
Car Rental vs Car Sharing
The objective of car rental and car sharing is similar - they both rent out cars to users who need them. Yet the difference lies with the fleet rented out.
The cars rented out by car rentals are obtained from company purchases or leased by the rental company..
In contrast, cars available for car sharing are owned by car owners who have voluntarily put up their cars for 'rent'. It's like sub leasing your flat rather than renting directly from housing agents.
With no middle man involved, major advantages for peer to peer car sharing includes more convenient location, a wider variety of cars and a flexible renting period.
Car rental companies offer a range of vehicles from normal family sedans to performance vehicles. Despite the no strings attached approach of car rentals, there can be a few drawbacks and we reckon the main problems are - location and duration of rent.
Car rentals operate like an interchange and more often than not, customers have to travel to a specific location to collect/or return the car.
Some rentals offer valet services but naturally these come with an additional fee.
Car sharing is not a new concept here, but peer to peer car sharing by iCarsClub is the first in Asia
Peer to peer car sharing
Peer to peer car sharing like iCarsClub serves the grey area between car ownership and car rentals. There are two aspects to car sharing - the car owner who is sharing his car, and the renter who is renting out his vehicle.
Car Rental vs Car Sharing
The objective of car rental and car sharing is similar - they both rent out cars to users who need them. Yet the difference lies with the fleet rented out.
The cars rented out by car rentals are obtained from company purchases or leased by the rental company..
In contrast, cars available for car sharing are owned by car owners who have voluntarily put up their cars for 'rent'. It's like sub leasing your flat rather than renting directly from housing agents.
With no middle man involved, major advantages for peer to peer car sharing includes more convenient location, a wider variety of cars and a flexible renting period.
Who should share their cars?
Car sharing benefits vehicle owners who own a car but do not utilise them often.
Besides fuel and maintenance there are not much difference to how much you can save from not using your car as there are basic costs like parking, monthly dues and mandatory regular servicing that your car undergoes.
Rather than allowing your car to hibernate at the car park, why not rent it out and earn some cash instead?
Renters advantage over car sharing
Car sharing allows access to a vehicle at the last hour and all they have to do is travel from as little as a few steps to a couple of blocks from their home in contrast to travelling to a specific location andthe avoidance of long negotiations on the phone.
iCarsClub
iCarsClub is a peer-to-peer car sharing platform that started last December by four graduates – two from NUS and two from TsingHua University, China.
iCarsClub enables car owners to share their vehicle when they are not using them with a network of registered renters.
The requirement for the renter is to be of at least 25 years of age with two or more years of driving experience, no more than six points accumulated to his driving licence.
The restrictions can be stringent, but considering the fact that the cars on rent belong to the respective owners themselves, high standard of safety and a clean driving record from the driver is necessary.
The Internet based transaction calls for a seamless yet transparent renting experience and both the renter and lender are aware of each other's doings
The added convinience
As a renter, all you need is a smartphone and a data connection to find a car nearest to your location and to gain access to the vehicle which takes you as little as five minutes.
In time to come, the official app by iCarsClub will be launched for iOS and Android platforms. Hence, renting a car will be as easy as booking movie tickets online.
Why Singapore?
According to co-founder and Director Jamie Wang, Singapore is an ideal location for the P2P car sharing services due to the dense car population and high COE prices.
The aspiration for people to own a car in Singapore is high, but many are unable to due to the high prices of cars. Yet car sharing, unlike car ownership or car rental, costs up to two-thirds less.
Plus, rental based on location and an expanding fleet of cars provides convenience.
Car sharing benefits vehicle owners who own a car but do not utilise them often.
Besides fuel and maintenance there are not much difference to how much you can save from not using your car as there are basic costs like parking, monthly dues and mandatory regular servicing that your car undergoes.
Rather than allowing your car to hibernate at the car park, why not rent it out and earn some cash instead?
Renters advantage over car sharing
Car sharing allows access to a vehicle at the last hour and all they have to do is travel from as little as a few steps to a couple of blocks from their home in contrast to travelling to a specific location andthe avoidance of long negotiations on the phone.
iCarsClub
iCarsClub is a peer-to-peer car sharing platform that started last December by four graduates – two from NUS and two from TsingHua University, China.
iCarsClub enables car owners to share their vehicle when they are not using them with a network of registered renters.
The requirement for the renter is to be of at least 25 years of age with two or more years of driving experience, no more than six points accumulated to his driving licence.
The restrictions can be stringent, but considering the fact that the cars on rent belong to the respective owners themselves, high standard of safety and a clean driving record from the driver is necessary.
The added convinience
As a renter, all you need is a smartphone and a data connection to find a car nearest to your location and to gain access to the vehicle which takes you as little as five minutes.
In time to come, the official app by iCarsClub will be launched for iOS and Android platforms. Hence, renting a car will be as easy as booking movie tickets online.
Why Singapore?
According to co-founder and Director Jamie Wang, Singapore is an ideal location for the P2P car sharing services due to the dense car population and high COE prices.
The aspiration for people to own a car in Singapore is high, but many are unable to due to the high prices of cars. Yet car sharing, unlike car ownership or car rental, costs up to two-thirds less.
Plus, rental based on location and an expanding fleet of cars provides convenience.
Per Hour Rental
The best feature of iCarsClub is hourly rental of cars and pre-bookings.
Incorporating Google Maps, the location of the car is identified on the maps page and the car owner and renter, do not have to meet each other. Every transaction is done online, with utmost transparency.
Keyless access
Another interesting feature is keyless entry. As the cars on rent are put up by the owners themselves, the keys are actually locked inside the car.
To gain access to your rented vehicle, you simple have to 'unlock' the car with your phone browser. That's convenience in your pocket, isn't it?
The keyless access feature is possible thanks to the in-house designed iCarBox. The hassle free system will enhance and ease up the renting process and adds convinience to the user.
Once the renting period is over, simply 'lock and end trip' with your mobile browser and that's it. No paperwork and hassle.
Every single detail from duration to car id to renter/ owners numbers will be provided in the confirmation sms'
Booking process
The booking process is really simple. After successfully registering for an account, log in to the iCarsClub website. At the main page - select the date, time and location (either via the maps or the zip-code search function) for a car.
A request text will be sent to the owner of the vehicle, and if successful, a confirmation text will be sent to you with the location of the car for pick up. If you are running late and need an extension simply log in to the system again and edit your booking details.
For something sports induced, even a Nissan GT-R is also available at $800 per day, probably ideal for a special occasion like Valentine's Day, Wedding or Birthday celebration.
Location based car rental system calls for an array of cars from the Hyundai Getz at just $5/hour to the BMW 760Li at $200/hr
The best feature of iCarsClub is hourly rental of cars and pre-bookings.
Incorporating Google Maps, the location of the car is identified on the maps page and the car owner and renter, do not have to meet each other. Every transaction is done online, with utmost transparency.
Keyless access
Another interesting feature is keyless entry. As the cars on rent are put up by the owners themselves, the keys are actually locked inside the car.
The keyless access feature is possible thanks to the in-house designed iCarBox. The hassle free system will enhance and ease up the renting process and adds convinience to the user.
Once the renting period is over, simply 'lock and end trip' with your mobile browser and that's it. No paperwork and hassle.
Every single detail from duration to car id to renter/ owners numbers will be provided in the confirmation sms'
Booking process
The booking process is really simple. After successfully registering for an account, log in to the iCarsClub website. At the main page - select the date, time and location (either via the maps or the zip-code search function) for a car.
A request text will be sent to the owner of the vehicle, and if successful, a confirmation text will be sent to you with the location of the car for pick up. If you are running late and need an extension simply log in to the system again and edit your booking details.
For something sports induced, even a Nissan GT-R is also available at $800 per day, probably ideal for a special occasion like Valentine's Day, Wedding or Birthday celebration.
Location based car rental system calls for an array of cars from the Hyundai Getz at just $5/hour to the BMW 760Li at $200/hr
The service is still new, thus finding a car within a close proximity can be challenging. But the service is expanding at an increased pace and you can expect more range and variety of cars to be added over the next few months.
Rental payments can be made through PayPal or Credit Card. The fuel and insurance - provided by DirectAsia.com - are calculated by mileage for a truly pay per use experience.
Benefits of Car Sharing
The thought of having a car with you 24/7 is still ideal yet a luxury to most. But peer to peer car sharing offers the convenience of having a vehicle when the need arises.
For instance a young family with small kids going grocery shopping or a brining a sick family member for a medical appointment, multiple destination trips, etc.
Taxis used to be a reasonable and practical alternative mode of transport until charges were raised on top of imposing a nine hour peak period and a 50 percent mid-night surcharge.
Thus hailing a cab after office hours and post mid-night can cause a huge dent to the wallet.
Cabs were considered a cheaper alternative to car ownership when starting fares started at $2.40 - in contrast to current tiered starting prices of $3.20 all to way to $5
Buses and trains on the other hand are becoming crowded and while efforts to improve transportation are in the works, the problem cannot be solved overnight.
Environmental perspective
According to Jamie Wang, car sharing reduces the number of cars on the road. Lesser cars could only mean shorter commute times, lesser pollution and more savings as more people start to adopt car sharing.
Rental payments can be made through PayPal or Credit Card. The fuel and insurance - provided by DirectAsia.com - are calculated by mileage for a truly pay per use experience.
Benefits of Car Sharing
The thought of having a car with you 24/7 is still ideal yet a luxury to most. But peer to peer car sharing offers the convenience of having a vehicle when the need arises.
For instance a young family with small kids going grocery shopping or a brining a sick family member for a medical appointment, multiple destination trips, etc.
Taxis used to be a reasonable and practical alternative mode of transport until charges were raised on top of imposing a nine hour peak period and a 50 percent mid-night surcharge.
Thus hailing a cab after office hours and post mid-night can cause a huge dent to the wallet.
Cabs were considered a cheaper alternative to car ownership when starting fares started at $2.40 - in contrast to current tiered starting prices of $3.20 all to way to $5
Buses and trains on the other hand are becoming crowded and while efforts to improve transportation are in the works, the problem cannot be solved overnight.
Environmental perspective
According to Jamie Wang, car sharing reduces the number of cars on the road. Lesser cars could only mean shorter commute times, lesser pollution and more savings as more people start to adopt car sharing.
It is believed car sharing can eliminate the presence of up to 15 cars on the road, and with a fuss free rental process, keyless entry and pay per use rates, iCarsClub puts a new spin to car sharing
Contact Info
For general enquires regarding car sharing or rentals you can Email iCarsClub at [email protected] or visit their Facebook page.
Alternatively you can also call them at either one of the four numbers listed below:6777 7170, 6777 9285,
6777 2675, 6777 2685iCarsClub is currently located at:
71, Ayer Rajah Cresent,
#06-10, Singapore (139951)They operate on Mondays to Fridays from,
09.30am to 6.30pm
(Lunch hour: 12.30pm - 01.30pm)
Contact the 24/7 Support and Road Side Assistance hotline at 6602 8176.
For claims or insurance enquires, you can reach them at
6532 1818
