Are you planning to hire a car but are unsure about the cost? You will learn how the cost is determined depending on the different variables including pick-up and drop-off locations, time and duration of the journey, and many more. The average weekly rate of a rental car is often determined by the car’s size and characteristics. An economic car will cost you between $125 to $150 a week on average. This cost is also affected by other factors including the location, vehicle type, insurance coverage, and other additional charges.
How Does Car Rental Differ Across Countries?
The cost of renting a car varies widely across nations and even between regions of the same country. Car rental in a country such as the US is considerably lower than many underdeveloped nations if all extra expenses are included in it. This is due to the well-established vehicle rental network which makes it accessible at significantly reasonable prices. It’s usually a good idea to look at rental vehicle rates offered by smaller, localized chains and government agencies in your area before making a decision. They may provide cheaper rates than the major national chains, allowing you to save a substantial amount of money.
Factors Affecting Rental Car Cost
Due to multiple factors, it is recommended to research many car rental services. Take into consideration that rental car prices fluctuate constantly, even minute by minute, so if you come across an exceptionally cheap price, don’t wait to rent it; the deal may not be available again after an hour. Here are some factors that have a huge impact on car rental rates:
- Types of Cars – There is no standard classification system for car rental services, but it is quite obvious that the costlier and bigger the vehicle you will choose, the more you will have to spend. The cheapest choice is nearly always an economical car, which is a compact, fuel-efficient option. A luxury sports car, on the other hand, may cost fifty percent more to rent and similarly, an SUV will cost you double.
- Time And Duration – The longer you hire a vehicle, the cheaper your daily fee will usually be. However, if you’re planning a lengthy vacation, it may be more cost-effective to hire a car for a week or more. During peak times, weekly car rent may cost up to $1,000 for big cars and similarly for other vehicles. SUV rental rates may vary significantly across rental companies, depending on the demand. A car’s price may be changed by the time you book it. In certain cases, the process may be very complex, so pay close attention while looking for the best rental rates.
- Age-Related Charges – If you are under 25, the rental company will charge you an additional fee—maybe 20 dollars a day. Even though there is another driver who is above the age of 25 with you, you will be required to pay if any of the drivers are under the age of 25. Furthermore, drivers below 25 may not be allowed to hire specific vehicle types, such as sports automobiles.
- Refueling Charges – It’s usually necessary to return your rental vehicle with the same quantity of fuel or gas that you picked it up with. If you do not return the vehicle with the same amount of fuel, the car rental company will charge you for refilling, thus increasing the price of petrol by many dollars per gallon.
- Additional Charges – The Additional insurance coverage offered by your rental car agency provides you many benefits including Liability insurance, collision damage waiver, and Personal accident insurance. Accepting all coverages increases your $49-per-day rent to $100-per-day. If you opt to add GPS navigation devices, children’s car seats, or Wi-Fi hotspots to your rental, you will be charged extra for them. Most car rental companies charge a concession fee for in-airport rental to compensate for the price they must give to the airport for holding a rental counter there, which increases the cost.
Is It More Economical To Rent A Car In Advance?
Pre-booking is always a smart decision. By pre-booking the vehicles, it is feasible to finalize the transactions cost-effectively. Car rental companies will provide you with various choices in this situation. This is not permissible in the case when you book in a rush. Vehicle rental companies seek to ensure future business by using pre-bookings. Additionally, they gain the benefit of getting more bookings. On the other hand, companies provide significant discounts to clients who hire vehicles regularly.
If you were considering renting a vehicle, the information provided would be enough to help you make a choice. People looking to rent a car are often drawn to car rental agencies that provide services at cheaper and affordable rates and give discounts to their customers. So look for options that better suit you and your requirements for renting a car.
Frequently Asked Questions (FAQs)
- Can I rent a car for a road trip? Renting a vehicle for most road trips is possible. Review the rental agreement for mileage and permissible activities, though. As a result, you may be limited to driving within adjacent states, or there may be daily mileage restrictions. If you violate the rental agreement, you may be responsible for severe fines.
- When should you consider renting a car for a trip? It makes sense to rent a car instead of driving your vehicle when:
- Renting a car with higher fuel efficiency is more economical.
- Avoid “wear and tear” on your vehicle.
- Your automobile is too small, and you don’t want to force things.
- Interested in renting a high-end sports car or luxury vehicle.
- Even though renting costs more money, you want a “sense of peace.”
- Do my car insurance policies cover rental cars? Auto insurance policies for people specifically provide minimal coverage for incidents relating to car rentals. To find out what your current coverage amounts are, you may check your insurance policy or call your insurance agent.