How Much Does It Cost To Rent A Car?

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A rental car can cost vastly different depending on many factors. Everything from the type of car you want to your age affects the price of the vehicle. If you're looking into renting a car, the day of the week you book significantly impacts the overall cost.

Factors that determine the cost of a rental car

When you're looking to rent a car, multiple factors go into what vehicle you want. One factor is the purpose of the vehicle. Is it so you don't put excess miles on a leased vehicle on a road trip, or is it because your car is in the shop for repairs? Either way, once you decide on what you want, the next step is cost. Here is what goes into that price:

Vehicle Type

The vehicle type or size is a significant factor in the price of your rental. Typically, a larger car requires more cleaning and more time for inspections. The larger vehicles carry more people as well.

Where You Book

Different companies charge different rates. A higher-end, more well-known company, costs more than a local company. Airport rental cars cost more than other places. This is because of supply and demand, along with higher taxes.

When You Book And For How Long

Rental companies make most of their money off business people driving around during the week. The car costs less on the weekend compared to weekdays, surprisingly.

Your Age

In general, the younger you are, the more your rental car costs. You have to be 25 to rent a car without additional fees for most companies.

Optional Add-Ons

If you want extras in your car, you have to pay more. Satellite radio, car seats, GPS, and navigation systems are examples of things you would pay more for.

Check your own policy before buying extra coverage at the rental counter

Rental car companies will try to get you to pay for insurance at the counter. Always check your coverage plan to see if your policy does or doesn't extend to rental cars. Suppose you're only insured through corporate policy or are worried about a high deductible. In that case, you may want to use the rental companies insurance.

Your insurance may pay for a rental car—it's called rental reimbursement coverage

Some companies offer reimbursement options for rental cars when your car is in the shop after an accident. Rental reimbursement is still available if you're at-fault. Rental reimbursement only takes care of the costs if the at-fault driver isn't insured or if you're responsible for the accident. If your car is in the shop and insurance covers it, they can include your rental car too, usually for less than $60 a year. Some credit cards offer rental coverage as well. They're generally secondary and pay whatever your primary won't cover.

When the time arises, is my insurance going to be enough?

When it comes to car insurance, there are several factors to consider beyond monthly cost. A policy that covers you when you need it, has a low deductible, and offers several discounts can be hard to find - which is why we've done the work for you.

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