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Motorization has been escalating rapidly in developing countries, posing a severe challenge to sustainable urban mobility. In the past two decades, car-sharing has emerged as one of the most prominent alternatives to facilitate smart mobility solutions, thereby helping to reduce air pollution and traffic congestion. However, before its full-scale deployment, it is essential to understand the consumers’ acceptance of car-sharing systems. This study aimed to assess the public perception and acceptance of the car-sharing system through a stated preference (SP) questionnaire in the city of Lahore, Pakistan. The collected data contained detailed information on various service attributes of three alternative modes (car-sharing, private car, and taxi) in addition to the sociodemographic attributes of respondents. Data analysis and interpretation were performed using econometric models such as the Multinomial Logit Model (MNL), the Nested Logit Model (NL), and the Random Parameter Logit Model (RPL). Study findings revealed that several generic attributes such as travel time, travel cost, waiting time, and privacy were predicated as significant influential factors towards the adoption of car-sharing. Sociodemographic attributes, including age, education, monthly income, the individuals who had driver’s licenses, and frequency of travel in a week, were also found to be significant. The findings of the current study can provide valuable insights to stakeholders and transportation planners in formulating effective policies for car-sharing.