Car rental prices up 55%, tips to save money

If you are leasing a vehicle this Fourth of July getaway weekend, or for a summertime vacation, costs are soaring. And some rental businesses are charging hundreds in deposits.

Rental car charges arrived at an all-time large in July 2021 in the course of the rental motor vehicle shortage. But that scarcity isn’t really about, and journey web-site Kayak suggests rental auto charges are up 55%.

Relevant: Rental auto lack driving up prices, earning vehicles scarce

“Rental auto availability has eased up a little in the locations that we had been viewing large complications past yr, like Hawaii and Florida,” stated Jonathan Weinberg, CEO of

“But the problem has moved to a specified degree to other parts, namely around the National Parks, like Bozeman, Montana, and Glacier Countrywide Park,” he said.

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As well as many rental agencies will check with for a deposit or place a keep on your credit history card, to protect any prospective harm or incidentals.

“Commonly the rental vehicle businesses will charge any where from $150 to $500 a working day for a deposit. Debit card renters can expect to pay out on the larger aspect,” spelled out Weinberg.

Similar: Additional men and women making dollars leasing out their autos

To help save on car rentals, experts say reserve early, employing price tag comparison web pages these as AutoSlash,, Expedia, Kayak, Orbitz, or Travelocity.  

Nerdwallet recommends leasing from agency destinations in the town, which are up to 26% more affordable than leasing at the airport.

“Get advantage of all the bargains and coupon codes that are offered to you. Rental firms give massive reductions to Costco associates, AAA users, AARP,” said Weinberg.

You can keep track of your reservation for a price fall, or permit AutoSlash do it for you.

“We enable you know when rates fall, so you can terminate and rebook any time a much better deal will come together,” reported Weinberg.

Associated: Rental cons on the rise in Houston as hire fees soar

Most automobile insurance plan guidelines go over the driver for rental cars, as do lots of credit cards, so you you should not have to purchase the rental agency’s insurance policies.

And will not pre-pay for gasoline if the price tag per gallon is far more than you would pay out at a nearby gas station.

You can also examine rates with rideshare organizations, these as Avail, HyreCar, Lyft, Uber, Turo, and Zipcar.

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