A large percentage of adults in the western world must have had to rent a car at some point in their lives, whether while on a trip, while in between the ownership of cars, or even just to experience what it feels like to drive a newer model or design – hybrid and electric. The minimum age to rent a car is between 18 and 21 years of age, depending on the country.
According to a review of rental cars companies, it was found that the cost of the rental depends on several factors which will be highlighted below. However, the comparison has been made to find the similarities between renting a car and shopping for airline tickets, and it was concluded that fluctuating prices is a common denominator for both. Just like airline tickets, you should book some months ahead, and periodically reconfirm your reservation to avoid disappointments, especially if you have to travel during the holidays or the festivities.
Car rentals prices are also dependent on the needs of the customer, which is why renting cars at airports is very expensive, although efficient. Most companies that provide airport car rental services have to pay surcharges, which is also a part of the reasons for the high cost. It is, however, not out of place to compare prices with other rental companies, or even with websites and resources such as thereviewsbird.co.uk to get firsthand information about airport car rental services and other travel-related news, as that information might prove useful when you least expect it.
Another thing to consider is that the longer you hold a car, the lower the daily rate, making it a good alternative for road trips. Also, the bigger and fancier a vehicle is, the higher the cost of rentals. If you do not return the car with the same amount of fuel in it as at when you took it, you will be incurring additional costs on yourself because the company has to refuel for the next customer. A rule of the thumb for saving money is to refuel just before drop off. People under the age of 25 years will also be charged some additional fees, while some classes of vehicles will be out of the options that these groups of people can access. If you require additional technologies or gadgets like toll transponders, you might have to pay for it too.
Why does the price of car rental fluctuate?
Car rental prices change as a result of the dynamics of demand and supply. Like most sectors of the economy, there are peak periods for rentals, such as Christmas and end of the year, national holidays for different countries, and so on. During these periods, renting cars is at a peak, therefore customers might not get the cars they prefer and would have to make do with what is available. The price will also become higher during peak periods. Once the bookings are higher than usual, prices go up to maximize income, which is why it is advisable to book ahead of your trip, and not close to your trip.