Even when you go on a vacation after spending the best part of two years working from home, you may think it prudent to think about car rental instead of public transport.
However, due to the increased demand for car rentals and because many smaller rental agencies have gone out of business, the rentals are at an all-time high and can seriously dent your finances. However, there are several tips and tricks you can follow to reduce the cost of renting a car:
1. Avoid Car Rental at the Airport
Even though car rental at the airport is convenient, you should know it can be costlier due to the imposition of airport surcharges by various names. It can be a flat dollar fee or a percentage of the rental amount, and sometimes both.
Depending on the duration of your rental, you could easily spend a few hundred dollars extra. It can be sensible to find out the prices at other rental locations and choose after factoring in the cost of getting to that location from the airport.
2. Hunt For the Best Deal
While you may turn to one of the national rental agencies to avoid hassles, you can invariably find a better deal if you use comparison sites that get the best rates from multiple agencies.
Before your signup, you can visit the rental agency website because you may get an even better deal, especially if you pay in advance. However, fees paid in advance are usually non-refundable. You may be able to get attractive deals from one of the discount brands vying for market share. Cash car rentals are invariably the cheapest.
3. Choose an Economy Car
It can be tempting to let your hair down and splurge on sports or luxury cars while vacationing, but your rental costs can zoom. You will typically get the cheapest deal if you choose an economy car.
A personal finance expert even suggests you book the smallest and most affordable car because, in all likelihood, it will not be available due to heavy demand, in which case, the agency will typically offer you an upgrade without extra charges. However, you should not skimp and choose too small a car that cannot accommodate everyone and your luggage.
4. Choose Insurance Wisely
Rental car insurance charges can be killing. According to Forbes, it makes sense to use your own insurance cover if you own a car since it will cover car rentals. If you use your credit card to pay for the rental, your card company may include the basic insurance cover without any extra charges.
Some premium cards even throw in comprehensive coverage for free. However, you may be required to buy insurance for overseas rentals, so be sure to shop online and get the best rates instead of buying from a car rental agency.
Conclusion on Car Rental
Car Rental while vacationing is essential, but there’s no reason why it should burn a hole in your pocket. Simple tactics like shopping for the best deal, opting for the most affordable model, buying insurance by yourself, and not using car rental at the airport can save you a lot of money.