A lot of people know that the average cost to rent a car per day has been increasing lately. It’s because there’s the so-called car rental scarcity in all places in the US. Car rental scarcity means that you are no longer able to find car rental easily. Demands are high, but supplies are low.
It’s possible that people may not be able to get the car they want because the rental agency doesn’t have anything left. Because of this situation, it’s quite logical if the rental cost today is generally higher than the one we had a few years back.
The Current Condition
As it was stated before, the average cost to rent a car per day has become costlier from years to years, especially after the pandemic. In the old days, the rental rate might range from $20 to $50 a day, but today, it can go from at least $50 to around $80. As you can see, the price increase is quite a lot.
But then again, this average cost to rent a car per day depends on various factors, including the car types, the company that you choose, the length of rental duration, and also the possibility of add-ons you have for the service. Knowing the standard price can help you get prepared, although it’s also a good idea to have extra budgets in case you need to spend extra.
How Much Is the Cost?
The average cost to rent a car per day today is set between $50 and $80, but if you rent the car in airport locations, you may have to pay 40% higher. As you can expect economy rides are cheaper than the luxury ones. The latter can cost you up to $150 a day. Can you find $20 rental cars? If you are looking for now, you won’t find such a thing anymore. The lowest cost would be $50 for a day of rent.
Because of the low car rental supplies, even economy types (such as VW, Kia Rio, or Ford Fiesta) will make you spend $50 a day, so be prepared if you want a higher end model and the luxury types. Besides the locations, how far you have reserved the car back will also play a crucial role in your spending. Basically, there are a lot of factors that may determine whether your rental cost would be higher or lower.
For instance, if you rent your vehicle from the airport locations, you may have to be prepared with the additional 40% of extra cost. Only from non-airports locations, you may be charged the standard rates. Economy cars are more affordable than the luxury types. However, if you have a membership card, you may be able to enjoy some discounts.
But then again, it depends on the company. Let’s say that you decide to rent a car from the non-airport locations. But these non-airport agencies don’t have many economy fleet. It will likely that they may offer their premium fleet with discounted bonus so more people would be interested in renting the type.
Standard Daily Rental Cost
The average cost to rent a car per day is around $49 to $78 a day, in the exact calculation. For now, Enterprise is considered the cheapest company that offers daily rate, while National is the priciest one. Be ready to spend that much for a day if you only rent for 24 hours of period.
Enterprise is said to charge from $35 to around $72 a day, for economy fleet. Hertz may charge you $40 to around $78 for the same economy fleet. National is the most expensive company, charging $72 to $84 a day for their economy fleet. Of course, it’s also one of the best companies in the country. It’s quite understandable if they charge a rather high price for their fleets.
Standard Weekly Rental Cost
What about the average cost to rent the car weekly? Although it’s considered cheaper to rent the car in weekly manner than the daily system, you still need to spend from $343 to around $550 for a week for the economy fleet. This is quite a significant increase from a few years ago. Again, if you rent from the airport locations, be ready with 40% extra charge.
For weekly rates, Enterprise, again, has the cheapest rates. They charge ‘only’ $343 per week for all of their locations. But if you rent the car at airports, be ready to spend $480 for weekly rates. National may charge you $546 per week for their non-airport locations, but for their airport locations, they would charge $695 per week. Again, this is for economy fleet. If you see, there is a 27% difference, covering $149 for 7 days of period. This such high amount will definitely affect your traveling budget.
Doing Your Research
Of course, these rates may be different from one place to another. Payless, for instance, has their own calculation system to determine a day worth of rent. The calculation is pretty complicated and confusing, so you may want to reach out to their representatives to really understand the exact rate. You can also look up for Payless rental car near me if you decide to give them a visit, simply to ask for rates and their renting requirements.
The Rental Deposit
Let’s not forget about the rental deposit either. The amount is usually set between $60 and $300 in the average.
If you are using the debit card, your car may be on hold so there would be enough funds to cover the estimated total rental and the deposit. Deposits can be directly paid or it can be incorporated within your card’s reserve charge. Deposits are a must because rental companies won’t risk their renters bailing out on their bill. But if you are proven to be a legit renter, they will definitely return your money back.
The average cost will definitely be different from one provider to another. Be sure to check their rates and really ask them for the details before you confirm the reservation. These are the facts about the average cost to rent a car per day, which can help you find out which one to go to.