Prices for car rental do fluctuate, the key reason is that car rental companies prices are based on demand. So in high season they will have a higher weekly rate than in lower season. If you book your car on a day before the high season starts you will normally get the rental at the low season rate, so play around with your dates, and you may find a better deal if you can get start your rental at the end of the low season and just prior to the high season.
Demand: A Primary Driver for Rental Car Prices
- Seasonal rise in car rental prices often reflects higher demand in the destination, like during popular events or larger seasonal cycles
- Rates for rental cars fluctuate depending on the model and features, with higher prices for luxury or specialized models in demand during adverse weather conditions or seasonal shifts.
- Key factors including the type of vehicle, rental duration, seasonal demand, rental location, additional fees and taxes, and the base price are what shape car rental costs.
- Unexpected events that cause a sudden surge in demand can result in significant fluctuations in rental car prices.
- Car rental is competitive and to attract more business some rental companies will offer special offers especially for early bookings
Peak Season Peaks in Pricing
- During peak travel seasons, the demand for rental vehicles often outstrips the available supply, influencing the cost of car rentals.
- Car rental prices are prone to increase when the supply of vehicles cannot meet the higher customer demand seen in peak seasons
- This linkage between high demand during peak seasons and rising rental prices is a reflection of the fundamental economic principle of supply and demand.
- Unexpected events that cause a sudden surge in demand can result in significant fluctuations in rental car prices.
- Car rental is competitive and to attract more business some rental companies will offer special offers especially for early bookings
The Influence of Location on Rental Costs
- Rental car companies operating at airports have to pay high fees, taxes, and concession fees which are then passed onto customers, contributing to the higher costs of renting cars at airport locations.
- Charges may be incurred for using toll roads or being caught in traffic restrictions like the London Congestion Charge, which can add to the cost of renting a car in certain cities.
- The cost of fuel will play a significant role on the overall costs, example if you are renting 7 seater car rental Las Vegas the cost of fuel or gas will be much cheaper 9 seater car rental London or other locations in Europe
Summary of Steps to finding the Cheapest Car Rental for your Business or Holiday Trip
To find the cheapest car rental deal, you will need to be flexible in your booking dates, and that will not be possible for everyone. That said, below we have listed some idea on how you can lower the cost of car rental.
- Booking your car rental at an off-peak time of the year and around 1–3 months in advance.
- Book with a company that provides free cancellation, most offer free cancellation, but will need minium of 48 hours notice. All our offers at MPVRentals include free cancellation if 24 hours notice is proved
- If you have booked with free cancellation, you can look out for cheaper deals and cancel if you can get the cheaper deal confirmed. We advise not cancelling the original booking until the cheaper booking is 100% confirmed
- If possible book at the beginning of the year before as many suppliers will be offering early bird booking deals and discounts for early bookings, even if travelling in high season
- Price of extras, if you are going to be adding an extra driver, search for providers that offer car rental with a free additional driver and any other benefits, example free miles.
- Low or zero excess car rental. The excess is the amount that you could be held liable for in the event of an accident deemed to be your fault. If you choose a low or no deposit car rental company, you remove or reduce the risk of being out of pocket for this amount.
- Choose a cheaper car category, do you really need a 7 seater or would a 6 seater be suitable, do you need a full size car or would a smaller car be acceptable. Booking a smaller car will always work out cheaper, but that will be your personal choice.
- If you are a young driver under 25 or a senior driver, try and book with a rental company that do not charge additional daily fee for being young or being senior.
