Are you planning a week-long trip and wondering about the cost of renting a car? With the average weekly rental hitting $589 for cars booked well in advance, it’s crucial to budget wisely.
This article will unravel various factors that influence rental costs and how to snag more affordable deals. Ready for a ride into financial savings?.
Key Takeaways
- The average cost of renting a car for a week can vary depending on factors like the type of car, rental location, and time of booking.
- Economy cars are the most affordable option, with an average cost of $300 – 400 per week.
- Checking prices periodically and rebooking if rates drop can help you get the best deal.
- Using loyalty programs offered by rental companies can provide discounts and perks for loyal customers.
What Factors Influence Car Rental Prices?
Several factors can influence the prices of car rentals, including the type and age of the car, location of rental, and duration of rental.
Car Type/Age
The kind of car you choose will affect the cost. Newer and bigger cars cost more to rent. For example, a midsize car that fits five people can cost around $432 for a week. Older or smaller cars might be cheaper.
Make sure you think about what kind of car you need before booking it.
Rental Location
The location where you rent a car can have an impact on the price. If you rent a car from an airport, it may be more expensive compared to renting from a downtown location. This is because there are additional fees and taxes associated with airport rentals.
Likewise, rental prices can vary depending on the city or state you’re in. For example, renting a car in New York City might cost more than renting one in a smaller town. So, when planning your car rental, consider choosing a non-airport location or exploring options in different cities to find the best price for your needs.
Rental Time
The rental time you choose can have an impact on the cost of renting a car. If you book your car 91 days in advance, the average weekly rental price is around $589. But if you only book seven days ahead, it could be cheaper at around $513 per week.
So, if you’re planning to rent a car for a week, keep in mind that booking earlier might save you some money.
Average Car Rental Price in the US
The average car rental prices in the US vary depending on the type of car you choose.
Economy cars
Economy cars are the most affordable option when it comes to renting a car for a week. On average, you can expect to pay around $300 to $400 to rent an economy car for seven days. These cars are smaller in size and usually have good fuel efficiency, making them perfect for solo travelers or couples who want to save money on rental costs and gas expenses.
Some popular models include the Toyota Yaris, Ford Fiesta, and Chevrolet Spark. When renting an economy car, keep in mind that they may not have as much space or luxury features compared to larger vehicles.
But if you’re looking for a budget-friendly option that will get you from point A to point B without breaking the bank, an economy car is definitely worth considering.
Compact cars
Compact cars are a popular choice for many people when it comes to renting a car. These cars are small and fuel-efficient, making them perfect for city driving or shorter trips. The average cost to rent a compact car for a week is around $301.
That’s a pretty good deal considering the savings on gas! Some popular models in this category include the Toyota Corolla, Honda Civic, and Ford Focus. These cars usually seat up to five people comfortably and have enough trunk space for your luggage.
So if you’re looking for an affordable and practical option, consider renting a compact car for your next trip.
Standard cars
Standard cars are a popular choice for many people when renting a car. These cars are comfortable and spacious, making them great for families or groups of friends traveling together.
They usually have four doors and can comfortably seat up to five passengers. The average cost to rent a standard car for a week is around $432. This price may vary depending on factors such as the rental location, time of booking, and additional features or services opted for.
It’s important to compare prices from different rental companies to find the best deal for your needs.
Midsize SUVs
Midsize SUVs are a popular choice for people who need more space than a regular car but don’t want something too big. The average cost to rent a midsize SUV for a week is $432. These vehicles can comfortably seat up to five people, making them great for family road trips or group outings.
When renting a midsize SUV, it’s important to consider factors like rental location and time of booking as these can affect the price. Some popular car rental companies in the United States, such as Alamo, Avis, Budget, Enterprise, and Hertz offer midsize SUV rentals with average daily costs ranging from $93 to $114.
So if you’re looking for an affordable yet spacious option for your next adventure, consider renting a midsize SUV.
Premium SUVs
Premium SUVs are a luxurious option for those looking for extra comfort and style during their car rental. These vehicles come equipped with top-of-the-line features and spacious interiors, making them perfect for long trips or family vacations.
While they may cost a bit more than economy or compact cars, the average daily rental cost for premium SUVs is around $120 to $150. Some popular models in this category include the Cadillac Escalade, BMW X5, and Mercedes-Benz GLE.
Keep in mind that prices can vary depending on factors such as location and rental company. So if you’re willing to splurge a little for an elevated driving experience, consider renting a premium SUV.
Minivans/vans
If you need more space or have a big group, renting a minivan or van might be your best option. The average cost to rent a minivan for a week is around $550. However, prices can vary depending on the rental company and location.
Some popular rental companies like Alamo, Avis, Budget, Enterprise, and Hertz offer daily rates ranging from $80 to $110 for minivans. It’s important to keep in mind that additional fees may apply, such as taxes and insurance coverage.
But overall, renting a minivan provides extra comfort and seating capacity for larger groups or families who prefer more space during their travels.
Tips for Reducing Car Rental Prices
Save money on your car rental by checking prices periodically, using loyalty programs, declining optional insurance, and filling up the tank yourself. Keep reading to learn more!
Check in periodically and re-book if prices drop
To get the best deal on a car rental, it’s a good idea to check prices periodically and re-book if you find lower rates. Rental prices can change, so keeping an eye on them can save you money.
If you see that prices have dropped since you made your reservation, don’t hesitate to cancel and book again at the lower rate. It’s a simple way to make sure you’re getting the best price for your rental car.
Use loyalty programs
If you want to save money on car rentals, using loyalty programs can help. Many rental companies offer loyalty programs that give you discounts and perks in exchange for being a loyal customer.
For example, Alamo has a loyalty program where you can earn points for every dollar spent, and those points can be redeemed for free car rentals or upgrades. Avis also has a loyalty program that offers benefits like faster check-in and exclusive deals.
By signing up for these programs, you can enjoy savings and special treatment when renting a car.
Decline Optional insurance
When renting a car, one way to reduce your costs is by declining optional insurance. While rental companies may offer additional insurance coverage, such as collision damage waivers or liability protection, it’s important to consider whether you really need them.
Keep in mind that if you have auto insurance or are covered under your credit card’s rental car insurance policy, you may already be protected. By declining optional insurance, you can save money and avoid paying for duplicate coverage.
So before accepting any additional insurance offered by the rental company, make sure to check your existing policies and weigh the cost versus the benefits.
Fill up the tank
When you rent a car, make sure to fill up the tank before returning it. This will help you avoid additional charges for refueling. The cost of fuel can be quite expensive if you leave it empty and let the rental company handle it.
By filling up the tank yourself, you can save money and only pay for the fuel that you actually used during your rental period. So remember, always return your rental car with a full tank to avoid any unnecessary fees or hassles.
Conclusion
In conclusion, the average cost of renting a car for a week can vary depending on factors such as car type, rental location, and time of booking. Midsize cars are commonly rented and cost around $432 per week.
It’s important to compare prices from different rental companies to find the best deal. By using these tips and considering your needs, you can reduce car rental prices and save money during your trip.
FAQs
1. How much does it cost to rent a car for a week?
The average cost of renting a car for a week can vary depending on factors such as the type of car, location, and rental company. It is best to check with different companies or websites for specific pricing.
2. What are the additional fees or charges when renting a car for a week?
Additional fees or charges when renting a car for a week may include taxes, insurance coverage, fuel costs, and any optional extras such as GPS navigation or child seats. These fees can vary depending on the rental company and location.
3. Can I return the car early and get partial payment back?
Whether you can receive partial payment back depends on the rental company’s policies. Some companies may offer partial refunds if you return the car early, while others may have strict cancellation policies. It is recommended to check with the rental company before making any changes to your reservation.
4. Are there any age restrictions for renting a car?
Yes, there are often age restrictions when it comes to renting a car. Rental companies typically require drivers to be at least 21 years old, although some may have higher minimum age requirements or additional fees for drivers under 25 years old.
Hi, my name’s David. I started this pricing blog as a side project to help people figure out the best prices on common services. Whether you’re trying to figure out how much it costs to get scanning done at Staples or the expense to bleach short hair, more than likely I’ve blogged about it. Shoot me an email if you have any questions: david@mightyprice.com.
