There's a new way to get around campus.

Zipcars Inc., North America's largest car-sharing company, set up a program in Ann Arbor last month.

Here's how it works: Zipcar has provided Ann Arbor six self-service cars that can be rented by the hour.

If you're at least 21 and a University student or faculty member, you can sign up for $30 online. The rental rate is $8 an hour or $60 a day. The annual fee is $50.

For that price, you get insurance, maintenance, gas, an XM satellite radio and a designated parking spot on Central, North and Medical campuses.

Local residents can join for $75.

Members are also mailed a card that allows them to unlock and lock the vehicles during their designated time slots.

The cars - two Toyota Matrixes, two Mazda 3s and two Ford Escapes - can be reserved at the spur of the moment or months in advance by booking online or calling in.

Zipcar has more than 2,000 vehicles in North America, and members have access to all of them.

The company's website boasts that members could save more than $436 a month because of the elimination of car maintenance, insurance and gas.

"I think offering students, especially those not yet 25 a means to get around sounds like a great idea," Engineering junior Alex Farr said. "I wasn't able to bring my car to campus, and sometimes I just need to get somewhere and don't have the means to do it without paying a ton on cab fare."

The company started in 2000 with a few cars at the Massachusetts Institute of Technology and Harvard University.

Including the University of Michigan, Zipcar has launched six new programs this fall.

If the service is found successful, the University will consider allowing more vehicles to be introduced into the program.

"We saw car-sharing as yet one more tool in a variety of options that we could provide to faculty, staff and students," said Diane Brown, a University spokeswoman.

The University has guaranteed a certain amount of revenue for the company as well as designated parking spots for the cars.