Taking car owners as research objects, the present study investigates the choice of travel mode from the perspective of the travel chain. This study mainly focused on how car owners make travel mode choices during return trips containing activities. The research methods were based on two different decision criteria, namely, the expected utility theory and prospect theory. In the present study, the investigators considered that influence factors for decision-making were uncertainty of travel time and uncertainty of parking. Taking arrival time as the variable, two travel mode models based on these two theories were established. An example of the application of these two models was given to determine whether the return trip containing activities would make the car owners give up driving on the way to work, and under what conditions would they give up driving and switch to public transport. The results indicate that when the return trip contains activities and there are time constraints in these activities, car owners may give up driving to work in their departure trip. The uncertainties of arriving and parking are the main factors that make car owners give up driving. The demarcation points from car to public transport based on these two theories are very close, which indicates the consistency of the expected utility theory and prospect theory. It turns out the importance of the punctuality of public transport to attract the passenger flow, thereby reducing car travel and realizing low-carbon transportation.