Out of the 2.8 million people living in Greater Manchester, only 39% own their own vehicle. The rest choose to either walk or cycle, while only one in ten people use public transport. This data shows that the people of Manchester prefer transport modes where they can travel alone or with people they know.
Access to vehicles has increased as car rental in Manchester has become more popular, as more people are opting to lease cars rather than buying them.
The global car rental industry has a projected growth rate of 7.2% between 2021 and 2026. In the United Kingdom, the car rental industry contributes 49 billion per year to the UK economy, which is especially valuable in this current climate, as there has been a significant economic decline during the pandemic.
Car renters also benefit financially, as renting a car has proven to be far more cost-effective than buying a car on finance. This is especially true for short-term car leasing services, which have become a common staple in city-centre locations in recent years.
Short Term Car Rental in Manchester
Short term car rental in Manchester, in particular, has surged, as fewer people need access to a car full time in order to commute. This is because they may only need to drive to the office a few days a week or even once a month.
A short-term car rental involves hiring a car for a period ranging from one day to two years. Leasing a car for up to two years would be the preferred option if a car is required on a daily basis for a few years. This involves affordability checks, and renters will agree on a set monthly rate which will be paid every month until the car is returned.
The cost will depend on the car’s value and may also include added extras such as maintenance, repair cover and even insurance.
Shorter rentals are typically suited to drivers who are planning a long weekend away or have a one-off work trip that requires vehicle access. This service is normally offered by car clubs or car sharing companies, who normally charge an hourly rate or set rates depending on usage.
The Benefits of Car Sharing
Car sharing is a fairly new car rental concept in the UK. This benefits drivers who do not own or lease their own car, as car sharing services enable them to connect with car owners in order to rent a car for short periods of time.
Car owners can also earn additional income by renting their car out when it is not in use, which on average is around 96%. By sharing their car, owners can make money instead of wasting it on a parked car, they only use 4% of the time.
Just one car share vehicle can replace seven to thirteen cars on the road, which will significantly lower congestion rates. Manchester is the 5th most congested city in the UK, with an average rush-hour congestion rate of 40%. Drivers in Manchester spend up to 94 hours per year stuck in traffic. Therefore an increase in car sharing is extremely beneficial in reducing traffic congestion.
Environmentally Conscious Travel
Car sharing services also fulfil the need for vehicle access without the financial and environmental damage caused by manufacturing new cars.
Using a car rental or car sharing service will also help Manchester’s objective to reduce CO2 emissions by 13% every year in order to achieve the projected environmental protection goals by 2038. This is because there will be fewer cars on the road, and there are more passengers per vehicle, which reduces pollution.
Many companies offering car rental in Manchester provide electric and hybrid car packages, which are far better for the environment. The average electric car produces 3.4 times less CO2 emissions than the average petrol or diesel car.
The Industry-Leading Car Share Company
One of the main industry leaders in the car sharing sector is Karshare, who offer a range of car rental services to owners and renters, including electric car access. This involves connecting car renters with nearby car owners via the Karshare app.
They also played a major part in helping key workers by providing 12,000 key rentals during the pandemic while also offering contactless cars collection to protect their customers at all times.
In 2021, Karshare launched its services in the North West of England by offering its technologically advanced solutions for car sharing and car rental in Manchester. In the first three months, they offered a guaranteed payment of £200 per month to the first 20 owners in various Manchester postcodes.
To qualify for car sharing, the car must be UK registered, be less than 13 years old, have fewer than 100,000 miles on the clock, and the owner must also show evidence of a valid MOT.
All Karshare rentals are fitted with KarshareGo technology, enabling renters to book and location cars in their local area. It also helps drivers become more eco-conscious by using telematics to track fuel consumption and mileage.
Depending on the make and model of the vehicle, owners can earn up to £550 a month by renting out their car. Karshare also provides a lease and rent service, which enables customers to lease a car for up to two years while also renting out to nearby drivers In Manchester.
