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Rent, share or buy a summer car - which is more economical?

21 maja, 2021

Interested in having a car over the summer? Then maybe you should consider buying instead of renting. A cost calculation shows that it is possible to save thousands.

Luggage compartments filled to the brim with sleeping bags, tent tents and folding chairs, and happy children hung out the windows waving to passers-by. In the happy 80s, Swedish summer holidays were undeniably synonymous with car holidays. Now it's hot again.

Rent or buy a summer car?

For those who do not have a car, it is most common to rent, and if you are only going to be away for a couple of weeks or make shorter day trips, it is probably also the best choice. Above all from a practical point of view. But if you want to have access to a car all summer, it can be worth buying, our review shows.

The car rental company Avis, like most larger car rental companies, has a concept for long-term rentals. At Avis Minilease, a popular family car like the Ford Focus SW costs SEK 9,445 a month, including fuel for 125 kilometres. The corresponding monthly cost of owning an almost new Ford Focus SW (model year 2020) is SEK 5,000, according to the Swedish Consumer Agency .

Summer car, hey hey, summer car!

But renting a car does not require a capital investment and the price tag on the Ford Focus SW is estimated at around SEK 163,000, which may seem like a lot if you only plan to have the car for a limited time. To make the comparison fairer, we therefore also add the cost of financing. With 5 percent interest and a cash investment of a more manageable SEK 20,000, the monthly cost will instead be SEK 5,596. But even that is thus far cheaper than the rental option. 3,849 kroner a month or a total of 11,547 kroner for a possession during three summer months, to be exact.

Fiat 500 - Poppi's car to buy or rent

Even the small Fiat 500 turns out to be cheaper to buy than to rent. The rental cost lands at SEK 6,245 a month, while the ownership cost is calculated at SEK 3,500, or SEK 3,796 in the case of loan financing with SEK 10,000 in cash investment. Those who buy with a loan make a monthly saving of SEK 2,449, while those who buy without a loan save SEK 2,745.

Can car sharing be an option?

We also researched what it would cost to share a car for this summer's adventure, but quickly realized that it is not affordable. Sharing a car can be smart because you only pay for the car when you use it, but with regular use and longer trips the costs add up. In Sweden's largest car pool - Volvo-owned M - a Volvo XC40, roughly the same size as the Ford Focus SW, costs SEK 6,875 a month, including mileage and fuel. Sure, it's cheaper than renting. But for that price, you only get to make five trips per month, with each trip lasting no more than ten hours.

Renting vs buying the summer car (Three months)

Ford Focus SW -
Hyra:28 335 kr el. 9 445 kr/mån
Köpa*:15 000 kr el. 5 000 kr/mån
Köpa med lån*:16 788 kr el. 5 596 kr/mån
**årsmodell 2020 (diesel, 120 hk), pris: ca 163 000 kr

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Fiat 500 -
Hyra:18 735 kr el. 6 245 kr/mån
Köpa*:10 500 kr el. 3 500 kr/mån
Köpa med lån*:11 388 kr el. 3 796 kr/mån
**årsmodell 2020 (bensin, 69 hk), pris: ca 81 000 kr

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About the analysis
Kvdbil has calculated the cost of renting or buying a car that is kept for three months, incl. 375 miles of mileage. In the ownership, all costs resulting from the purchase and sale decision have been taken into account, except for any transaction costs. When financing with loans, calculations have been made on an interest rate of 5 percent and a cash investment of SEK 10,000 for a small car (Fiat 500) and SEK 20,000 for a large car (Ford Focus SW). The fuel cost is based on the current fuel price, approximately SEK 20/l.

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