Hubbry Logo
search
logo

Car ownership

logo
Community Hub0 Subscribers
Write something...
Be the first to start a discussion here.
Be the first to start a discussion here.
See all
Car ownership

Car ownership is the ownership of a car. Car ownership typically requires far fewer permits than driving that car on public roads (i.e. driver's license, car insurance, etc.).

Levels of ownership have risen significantly since automobiles were pioneered in the 19th century. The United States was the first country in which mass ownership became common and 60% of families owned a car in 1929. By the 21st century in the United States, there was, on average, a vehicle for every person of driving age and more vehicles than people with driving licenses. In 2010, the total number of vehicles dropped significantly for the first time, falling by four million to 247 million.

In the United Kingdom, only 14% of households had access to a car in 1951. By 1971, this had increased to 45%, and by 2001, it was at 75% (with many households having more than one car).

Overall, across the world, levels of ownership increased fourfold between 1950 and 1999.

A car is typically a major purchase and so there are a variety of financial schemes to facilitate the purchase. These include hire purchase, company cars, trade-in and leasing. Other forms of provision which centralise the ownership as a service include rental, car sharing and vehicle hire.

In some countries, there are additional regulations that must be fulfilled before purchasing or leasing a car. For example, in Japan, due to the high population density and limited space, a prospective owner must first provide proof of a space to park the car in question (proof-of-parking).

In the Philippines and India, there is also interest in introducing proof-of-parking.

In Singapore, there are additional requirements in the form of Certificate of Entitlement which only allows the vehicle's owner to own the vehicle for 10 years. (Prospective) owners of heavy vehicles in Singapore must first provide proof of a space to park the heavy vehicle in question under the Vehicle Parking Certificate Scheme.

See all
User Avatar
No comments yet.