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What is the cost to rent a car? Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our mission is to help you make better financial choices by offering interactive financial calculators and tools, publishing original and objective content. This allows users to conduct research and compare information at no cost and help you make sound financial decisions. Bankrate has agreements with issuers including, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The products that are featured on this site are from companies that compensate us. This compensation could affect how and where products appear on this site, including such things as the sequence in which they appear within the listing categories, except where prohibited by law. This applies to our mortgage, home equity, and other home loan products. But this compensation does have no impact on the information we publish, or the reviews you see on this site. We do not cover the vast array of companies or financial deals that could be open to you.
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5 min read Published on October 19, 2022.
Authored by Rebecca Betterton Written by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers to navigate the details of borrowing money to purchase a car.
Editor: Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate from late 2021. They are dedicated to helping readers gain the confidence to control their finances with precise, well-researched and well-written data that breaks otherwise complicated subjects into digestible pieces.
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If you’re on holiday and desire the convenience and freedom of wheels while exploring or you need a car when yours is in the shop, chances are you’ll take a rental car at some time. There were 1.8 million rental vehicles in service in 2021 . Prices vary based on the type of car you hire, the rental car service you choose to use and the location you choose to rent the vehicle. Understanding how these factors impact the cost can help you to budget for the expense. Cost of a typical car rental for renting a car differs according to factors such as location, car type and rental service. But the average cost at mid-October 2022 was around $81 per day . To determine the cost you’re likely to pay, reach out to Hertz, Enterprise, Avis or any other rental firms you’re considering to ensure you are prepared for the price. Factors that impact rental car costs Several details can affect the cost of renting a car — as well as outside of your control. Save money where you can by knowing what influences price. Type of car when choosing an automobile rental the first question that renters ask is how much space they will need. Car rental companies categorize their vehicles according to their size. The smallest cars are typically the cheapest and smallest rental companies provide. They are able to accommodate one or two people, along with their luggage. The compact or intermediate models offer more space than standard cars, usually through extra room in the trunk. Intermediate cars accommodate up to four people and a minimal quantity of baggage. The standard vehicles that have full-sized back seats can accommodate four adults. They also offer plenty of trunk space making them a good option for families with a considerable amount of luggage to bring along. Luxury vehicles are the most expensive models that include everything from sportsy convertibles, to big SUVs, and vans. Most of the time, the daily rental fee is based on the size and class of the vehicle. However, sometimes rental firms offer discounts on vehicles in certain categories, especially if they have plenty available. For instance, if a business has a restricted quantity of economy cars to rent out for a specific weekend, they might offer discounts on standard vehicles. Below are the lowest cost per day for various kinds of cars, according to Kayak. Type of vehicle
Approximate capacity
Least expensive rate per day
Economy
2 adults, 2 bags
$14
Compact
4 adults, 2 bags
$10
Intermediate
5 adults, 3 bags
$14
Standard
5 adults 3 bags
$23
Full size
5 adults 2 bags
$18
Full-size SUV
5 adults 2 bags
$34
Minivan
5 adults 5 bags
$30
Premium
5 adults, 5 bags
$26
Kayak in October 2022. Location Similar to other goods and services, prices fluctuate in accordance with demand and supply. A majority of people can find cheaper car rental prices close to the heart of the city rather than the airport. The rental rates also differ in various regions across the country. Areas that attract a lot of tourists might have lower rental rates than other areas due to the increased competition. They may also have higher rates during the peak season when demand is extremely high. The location
Average rental cost per day
Atlanta
$50-$85
Chicago
$47-$85
Houston
$51-$84
Las Vegas
$47-$78
Los Angeles
$48-$67
Miami
$34-$64
New York
$68-$111
Orlando
$43-$65
Kayak in October 20, 2022. Age of the driver The renter’s age has a significant impact on the price. If the renter is younger, greater the price, because younger drivers pose a higher risk to rental companies. A lot of rental companies don’t rent to people under twenty years of age. Rental companies may charge additional charges for renters under the age of 20. According to the state, these fees can range from $40 to $65 per day. Be aware of these prices when determining who will drive your rental. Some states allow fee for drivers of certain age brackets. For instance, renting at Enterprise in Michigan comes with an additional $40 daily charge for drivers aged 18 to 20 years old, and $19 per day for those between 21 and 24 years old. Renters who are younger in New York can expect to pay the additional $64.50 because of their age. However, not every rental firm has these charges. Be aware of both the cost per day and any additional charges when deciding where to rent from. How to get the best price on your rental car While the cost of renting a car is determined by a variety of factors, there are still some options you can take to get a little extra cash. Comparison shop . You can get a better deal for your next rental car by shopping around. The prices vary from one rental agency, so a little legwork could land you a much better deal. Comparison websites like Priceline, Expedia, AutoSlash and Kayak allow you to find the best rental car rates. Visit the rental agency’s websites to ensure you’re getting the best price available on the car. Refill the tank. Make sure to fill up the tank of gas prior to returning the rental vehicle to the agency. There are no additional charges for refilling. Make reservations early. The ability to reserve your car in advance allows you to get the correct vehicle, avoid long lines, and possibly save cash. This is especially crucial if you intend to travel on a long holiday. Don’t add any additional items before receiving keys to your car, you’ll likely be offered several add-ons. The options could include GPS, toll plan, accessibility to XM radio, or even car seats. Avoid these options if are able to save money. is another costly add-on often included when you reserve or pick up the vehicle. It can add an additional up to $15-30 per day to your bill however it can save thousands if there is an incident or your vehicle is stolen. The four common types of insurance for rental cars are: Loss-and-damage-waiver (LDW) also known as collision damage waiver (CDW) offers protection for damage to the vehicle or stolen. Supplemental liability protection: shields you from liability in case you damage property or other vehicles. Personal accident protection covers medical expenses for you and your passengers (if necessary) should you encounter an accident. Personal effects coverage: pays the cost of belongings taken from the car rental These protections may already be or current auto or homeowners insurance policy. Some have limitations, though you should check together with your credit card provider or insurance company. Hidden fees and other charges Car rental companies also have hidden fees that affect the price of renting. They build certain fees into the cost for the rental. Other fees may be listed on statements for several months following the rental time. A car rental at the airport costs more than renting at an off-site location. This is due to the fact that the airport charges fees like an airport concession fee and a customer facility charge that the rental car firm is then able to pass on to the consumer. Certain companies put an authorization block on the client’s credit or debit card. The charge, which varies between $150 and $500, offers the rental car provider an insurance policy in case the customer has an accident or is not able to return the vehicle. The company can release the funds within a couple of days after receiving the rental car back in a good in good condition. A lot of businesses charge a cancellation fee to renters who make reservations within 24 hours of the rental. If the renter paid by advance, the business will refund the deposit less the cancellation cost. Renters who cause damage to the interior or exterior of their vehicle are required to be responsible for the repairs . Inexperienced renters could end having to pay for damages caused from previous owners. Thoroughly inspect the vehicle before taking it off the property and take photos of any apparent damage and inform an employee. Most rental agencies charge a daily cost to add drivers on the contract. The amount is determined by the state and rental agency. Changing the conditions of the rental agreement through a modification or extension may also come at additional cost. The amount you’re charged can vary and you could pay an additional daily fee. However, being aware of these hidden charges can help renters realize why total rental fees cost more than the advertised rental price however, there’s usually nothing that you can do to prevent these charges. The final cost of renting a costs for cars vary based on the rental company, type of car, location and how old the chauffeur is. You’ll also find that some marketplaces are more expensive than other markets. However, there are ways to lower your costs by searching around, making reservations ahead and avoiding any the extras. Make sure you read the rental contract’s fine print to avoid incurring additional charges that are not anticipated. Find out more
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Writen by Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the ins and outs of securely using loans to buy the car they want.
Edited by Rhys Subitch Edited by Auto loans editor
Rhys has been editing and writing for Bankrate from late 2021. They are passionate about helping readers feel confident to manage their finances by providing concise, well-researched and well-researched content that breaks down otherwise complex subjects into bite-sized pieces.
Auto loans editor
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