From being told that driving was overrated, and possibly incredibly difficult to deal with because of traffic, many startups have popped up in the last five years with their value proposition of providing you on-demand uses for transportation. This particular industry isn’t new per se, but has since caught up with many. Adoption is incredible and use cases are basically the norm these days. But paying to be picked up isn’t something that’s practical all the time. Enter SoCar.
Here’s a service that’s taken the traditional sense of renting a car, but placed it under a more temporary and flexible circumstance. You’re paying by the hour, or the days, or the week – and there’s even longterm contracts that you can sign for this. One way or the other, its elasticity in the model guarantees some form of freedom when it comes to decision making, that is: Pay for when you need it, for as long as you do.
Upon deep diving into the model, we at Goodfakereviews have come up with an analytical and practical use of SoCar which reflect local culture and how this may actually be quite the thing.
1. People are taking rent-a-bikes from one distance to the other. Now you can do it with a car.
Malaysia’s landmass is considerably large, and the infrastructure of placement of landmarks are not strategically placed and spaced out. That means, getting from one place to another for a meeting of any sort would require you to have four wheels. Or 2 wheels that motors on it. That said, simply taking a bicycle from place to another isn’t something that’s mostly considered, but driving is.
And if the concept of this being able to quickly get in and out of a car for rent from one place to another makes as much sense as Europeans or Japanese taking bikes from their homes to train stations, this idea would actually fly pretty well if marketed and priced correctly.
The takeaway: driving from one place to another if price is right and depots are many and convenient makes perfect sense compared to take an Uber or Grab.
2. Short term leases are convenient for public transport takers
The success of ride sharing rode on the coat-tails of the lack of infrastructure and regulation and availability of public transport. SoCar comes at a good time when the at times availability of some ride sharing services do not have the supply to meet demand – or if supply becomes scarce when demand becomes high.
It all boils down to how the financials work out for an individual. Would it make sense to wait for a ride-share, or would the cost of temporarily renting one help save overall costs?
The takeaway: With more options into public transport, SoCar becomes a personalized method of moving around.
3. Short term ride sharing profits
Anyone in need of a car but doesn’t have one to participate in ride-sharing services can now arbitrage their rental with their earnings. With the cost of cars being sky high in Malaysia, short term rentals for cars will open up another industry on its own in our opinion.
To experience SoCar today, download it here for iOS and Android.