Own car or rental car?

By Whim • August 17, 2022

It is common knowledge that owning a car is not exactly cheap. But surprisingly few people know how much it really costs per year to own a car, when you break down all the expenses.  

Despite the high costs of having a private car, many Finns are ready to pay for it. The freedom to be able to move around according to one’s own preferred schedule is of course fascinating.

Private leasing has raised its popularity lately. Many people are intrigued by this solution because it makes life easy and carefree. On the other hand, private leasing is also expensive and produces a lot of emissions.

Many would be amazed when calculating the real costs of their car a year. The costs are not limited only to petrol costs, but the total is made up of many different factors.

Whim app offers an easy solution for using different means of transport, such as public transport. It also gives you the opportunity to rent a car affordably, according to your own needs. If your own car sometimes feels like a burden and you want to make ecological choices, take a closer look at the possibilities offered by Whim.

How much does it cost to own a car?



It is not possible to give an unambiguous calculation formula for the costs of driving. Costs are affected by many things, such as how you drive, which car is it, how the car is used and where the drives lives.

However, with the next example it is still possible to outline how many different components make up the final cost in annual basis.

Petrol –  €2000/year



An average Finn drives about 14,000 kilometers a year. In the case of a petrol car, the average cost is a little over €2,000 a year (calculated with average consumption of 6,9 l/100 km and 95 gas price in the end of summer 2022).

Insurances – €650/year



Traffic insurance is compulsory for the cars that are frequently used in traffic. The price of the traffic insurance is about 300-500 € a year.

In addition to this, it is also good to have a so-called comprehensive insurance for your car. These comprehensive insurances cost about 200-300 € a year.


Maintenance costs – €550/year

The costs regarding maintenance and service are hard to estimate because it is never possible to know what kind of defects can be found in the car for example during an inspection. A conservative  estimate of the annual cost is around 550 €. 

Taxes – €210/year



Diesel cars have a higher vehicle tax. In this example we use a gasoline-powered car which annual taxes are ranging from 160-260 €.

Parking & storage – €500/year



Few people also think the costs involved in storage when purchasing a car. The costs of storing and
parking a car are particularly high in the Helsinki metropolitan area. Only a few housing associations are offering free parking spaces.

The most expensive parking spaces can cost even 3600 € a year. In this case it is often a private parking space in a heated and modern garage. However, you can get a parking space from a housing association for about 50 euros a year at its cheapest.

With the resident parking code, it is possible to park in your own residential area with specially marked spaces. According to the new proposal, the price of the parking ticket would in future be determined by demand and supply. It is estimated that this could mean the parking permit cost would go up to 100 € a year by 2029. Currently, parking code in the city center costs 360 € a year.

It is also important to remember that the car is also parked outside your own residential area during the year so you often have to pay for parking.

Car depreciation


Many people don’t pay attention for a car depreciation if they own an old car. However, especially with newer cars this aspect is also worth considering when calculating expenses on an annual basis.

The cold fact is that the price of a car starts to decrease when the car changes its owner.  There are various calculation models for the impairment. One of the most common models reduces the value of a new car by as much as 15 percent during the first year. After five years, about half of the value remains.

It is perfectly reasonable to start thinking whether owning a car is necessary.

Rent a car with Whim



Based on the example used in the article, owning a car costs 3260 € a year if no depreciation is considered.  This is an estimate so in real life costs may be higher or lower. 

Many of the expenses associated with driving are also running when the car is not in use. Would it be possible to use the money more efficiently?

Through Whim app it is possible to use public transportation, city bikes and e-scooters. These options are more environmentally friendly than private cars and cheaper. Taxis are also available via Whim.  

A good alternative to owning a car is to rent one when you really need it. Therefore, you only pay for the active use of the car, which is not only cost-effective but also environmentally friendly.

Whim app allows you to rent a car without a separate contract from well-known and reliable car rental companies. Herzt, Sixt, Toyota Rent and 24 Rent all offer high quality cars for you wherever you go.

Whim subscribers will get the access for many monetary benefits. It is also possible to use the travel money accumulated in the Whim account when renting cars. If you are planning a holiday trip to central Europe, Whim app is also usable for example in Switzerland and Belgium.

Affordable rental cars



Renting a car by Whim is affordable. Once you have opened a product with Whim benefits such as a seasonal subscription, you will get access to fixed and discounted prices for car rental. The benefit is significant especially during the high season when the price of rental cars can increase. However, as a Whim subscriber you can rent a car at a familiar low price.

You can rent a car from Sixt for example for 55 € a day. If you are planning a holiday trip for week in Finland, Hertz offers you a car for 238 €.  During the week’s rental period, the daily price is only 34 €. When moving to a new apartment, van is often needed which you can rent from 24Rent for two hours with the total price of 39 €. 

Rent an electric car



Through Whim app it is easy to reduce your carbon footprint. By using Whim, it is also possible to rent an electric car with a low price. The Whim subscriber’s benefit regarding electric cars can be used at a Hertz car rental company. You can rent a Nissan Leaf fully electric car cheapest for 27 €/ day (rental time must be 3 weeks).  As a customer the full car battery is included in the price and the mileage is not limited.

Which one to choose – own car or rental car?



The annual costs of having your own car can easily be around 4000 €. At the same price you can rent an electric car for your use for 148 days as a Whim subscriber. Favoring rental cars is flexible, environmentally friendly and easy-going process. Inspections, maintenance and tire changes are also handled for you.

Replace your car with Whim and enjoy independence!  

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