If you’re planning on renting a car during your vacation, you may be in for some sticker shock when you get to the car rental company. According to Hotwire, car rental prices have skyrocketed. From 2005 – 2007, prices have jumped as much as 73% in some areas, according to the New York Times. In the past year rental car companies have sold more than 400,000 vehicles in the used car market, causing a shortage of supply. Because of this, the idea of a last-minute rental car deal no longer exists.
With less inventory and a higher demand for rental cars this summer, experts suggest that car rental rates should peak in July and begin to decrease slightly in late August, when people are taking less vacations.
But before you cancel your car rental plans, here are 6 tips to help you find the best rates and lower your car rental expenses this summer:
1) Reserve good rates immediately
Because car rental rates are expected to increase in July and through most of August, it is a good idea to act quickly on reasonable rates or good deals.
2) Search beyond the major name companies
At major car rental companies, you are paying for extra expenses in addition to the cost of the rental car. Try using a site like Kayak.com to search for smaller operations which might have better deals because they don’t spend a lot on marketing.
3) Rent away from the airport, if possible
Rental car companies further away from the airport are often cheaper because of lower taxes and fees. So take a shuttle to your hotel and consider renting from a company such as Enterprise which will deliver the car to you, at no additional cost.
4) Fill-up before returning the car
Gas at rental centers can cost significantly more than what you would pay at a gas station. Buying your own gas is usually cheaper than pre-purchasing a tank of gas as well.
5) Consider Toyota
Did you know that many Toyota dealerships also rent cars? Some even deliver the car to your hotel and have free pickup.
6) Use a blind-booking site
Websites like Hotwire or Priceline can save you as much as 40%, if you pre-pay without knowing the exact car rental company. Just make sure your vacation plans are set in stone because if you cancel, you won’t get your money back.
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When searching for internet car rental deals, you can also try to check car rental rates using a discount code, if you qualify.
There are hundreds of membership programs and professional associations that offer car rental discount codes to their members. You can find a list of over 350 car rental discount codes for 8 major car rental companies, at http://www.best-car-rental-tips.com/discount-codes.html
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