CLEVELAND — If you’re trying to get away this summer season, it should possible price you. On high of excessive fuel costs and hovering airfare, rental automobile prices are additionally skyrocketing.
“Prices have definitely increased. I used to get a flat rate, but now I’ve noticed that rate is at least $70 more. And with gas prices, it’s starting to hurt you a little bit,” stated Maureen Mays, who rents vehicles weekly for work-related journey.
Allison Barkus added, “It was very, very expensive actually.”
Rustie Anderson additionally observed fewer choices when she helped Barkus hire the automobile.
“When we went back to look for a car, there wasn’t a whole lot to choose from,” Anderson stated. “I’ve rented a car before and it definitely seems like there was more in the past.”
After a number of years of the pandemic derailing journey plans, Americans are able to hit the highway as soon as once more. The pent up demand is outpacing the availability or rental vehicles.
“Rental cars are the largest expense that a rental car company has and without anyone renting they had to go sell off as many vehicles as they could as quickly as they could,” defined Jonathan Weinberg, the founder and CEO of AutoSlash.
AutoSlash compares costs and choice of rental vehicles. Weinberg stated after promoting off belongings in the course of the pandemic, many firms are struggling to replenish stock due to provide chain points, a chip scarcity and different delays. Some are even shopping for used vehicles as an alternative of latest ones.
“It was hoped by this summer there would be a little bit of easing up of the inventory situation but so far we haven’t seen it,” he stated. “And we don’t expect the situation to improve until late this year.”
Weinberg is discovering costs exceeding $100 per day in common spring break locations. Outside of the Lower 48, prices are above $200 per day in Alaska and Hawaii. Some of the costliest choices are close to National Parks. AutoSlash discovered vehicles for greater than $300 per day close to Glacier National Park.
“Certainly high gas prices are something weighing on consumers’ minds, but from what we’ve seen so far it’s not tamping down the demand for car rentals at all,” Weinberg stated.
He recommends beginning early when searching for a rental automobile. You might wish to start planning eight to 10 weeks earlier than a journey if you happen to’re trying to hire bigger autos, like minivans and full sized SUVs, that are particularly onerous to come back by. You ought to be wanting 4 to 6 weeks prematurely for financial system choices.
In addition to early planning, Weinberg stated reductions by way of AAA, AARP, Costco or different golf equipment can typically supply 40-50% off rental automobile costs.
If your journey plans contain shorter drives, you might contemplate choosing a taxi or utilizing a rideshare app to avoid wasting on costs. Car sharing firms, like Turo and Get Around, which operate like Airbnb with house owners itemizing vehicles for hire, can also supply cheaper choices. But many additionally include supply charges and require a extra in depth insurance coverage background test earlier than renting.
In 2021, journey bloggers additionally started suggesting alternate options like field vans, service vans or rental autos from house enchancment shops. They might supply cheaper every day charges and mileage, however Weinberg cautions they could not be a sensible answer for getting round.
He stated the challenges going through the rental automobile business are prone to stick round by way of the yr and costs might get increased earlier than they arrive down.