Car sharing is an emerging mode of transport that enhances the mobility of individuals. However, evidence regarding how car sharing affects travel behavior is still limited. This paper analyzes how individuals value various characteristics of car sharing services and substitution patterns between car sharing and traditional transport modes (private cars, public transport and bike). We present the results from a stated preference mode choice experiment conducted in Copenhagen. The design of the choice experiment is pivoted with respect to revealed trips from respondents in order to imitate realistic choice situations. The survey is distributed online primarily within a university environment to facilitate oversampling of young and educated individuals, who are more likely to consider car sharing as a mode of transport. We analyze the data using a mixed logit model and derive the willingness-to-pay for vehicle reservation, parking availability and convenient access to car sharing vehicles. The results show that willingness-to-pay measures for these characteristics are relatively high and could have an important effect on car sharing adaption for the segment represented by our sample. In addition, results show that free-floating car sharing is a strong competitor of public transport and bike trips and to a lesser degree of private car trips.