Car Rental Pricing Statistics: 2022

Of all of the issues which have skilled large value swings in the course of the COVID-19 pandemic, rental vehicles noticed one of many largest — and that swing was instantly up. Renters in summer season 2021 received hit particularly exhausting when rental automobile costs reached an all-time excessive that July. Whereas costs have barely dipped from these highs, they’re nonetheless larger each month to this point in 2022 than earlier than the pandemic.

However not all rental automobile costs are created equal, even when the rental automobile is in any other case the identical. Relying on the corporate or metropolis you’re renting from, you may pay considerably roughly than the typical. Even renting from an airport versus a downtown location in the identical metropolis may need a drastically completely different value.

NerdWallet performed an evaluation of 360 rental automobile costs (together with taxes and costs) to raised perceive rental automobile pricing developments. The evaluation seemed on the value of a weeklong rental throughout eight main rental automobile corporations based mostly on the corporate’s lowest-priced out there automobile (usually a small sedan). Knowledge was gathered for 20 areas, and it lined each the price to hire from an airport location versus the identical firm’s close by downtown counterparts.

Listed here are the outcomes of our automobile rental pricing information assortment.

The cities with the most affordable rental vehicles

NerdWallet’s evaluation checked out areas of the U.S. with the ten largest airports based mostly on enplanements utilizing 2020 Federal Aviation Administration information. Enplanements are paying passengers who board an plane, together with these boarding one other as a part of a layover.

Charlotte, North Carolina, was the one metropolis in our information set to fall under $500 for a mean weekly rental value. In the meantime, Chicago was the one metropolis with a mean weekly rental value above $600.

When wanting particularly at airport rental places, outcomes have been largely much like the general averages, with some slight deviations. Listed here are the most important U.S. airports, ranked by common weekly automobile rental value, from least expensive to most costly:

The primary airports servicing Orlando, Florida; Charlotte/Douglas; and Dallas-Fort Value all had the bottom common rental automobile costs and have been the one three airports with common weekly rental costs under $600. On the opposite finish, Chicago O’Hare Airport had the very best common costs — $743 for a weekly rental.

The most cost effective rental automobile firm

Inside every metropolis, NerdWallet additionally checked out costs damaged down by eight main rental automobile manufacturers: Enterprise, Finances, Hertz, Greenback, Thrifty, Avis, Alamo and Nationwide.

On this evaluation, Nationwide nearly at all times had the highest rental automobile costs, with common weekly rental automobile costs of practically $700. The most cost effective automobile rental firm, Enterprise, supplied automobile leases at a mean weekly value of simply $480.

One of the best time to e book a rental automobile

One of the best time to e book a rental automobile is not upfront. Rental vehicles are typically cheaper when booked last-minute.

The typical weekly rental value for vehicles booked 91 days upfront was $589. For vehicles booked seven days upfront, it was $513. That quantities to a 13% low cost, on common, for individuals who roll the cube and threat availability to e book a automobile nearer to their journey dates.

Right here’s the proportion distinction in prices damaged down by rental automobile firm:

At Greenback, the price financial savings for reserving early versus procrastinating was minimal. Nevertheless it was, on common, practically 40% dearer to e book 91 days upfront from Enterprise.

One of the best place to e book a rental automobile

NerdWallet discovered that weekly automobile leases for downtown places have been, on common, $126 cheaper than airport places. Meaning you’ll spend on common about 26% extra for an airport rental in contrast with a downtown rental.

The value distinction is normally (although not at all times) resulting from charges charged by the airport. Precise quantities differ, however they’re usually charged by the airports to the automobile rental automobile firm (which then passes the price on to clients) to cowl providers like an airport-provided shuttle, cleansing, safety, and typically merely the suitable to do enterprise.

Straightforward methods to economize on rental vehicles

Use journey bank cards: The greatest bank cards for rental vehicles have a tendency to supply each bonus factors and miles out of your spending, in addition to the opposite (probably extra profitable) good thing about rental automobile insurance coverage protection, which might typically prevent lots of of {dollars} in the event you decline the rental automobile firm’s protection on the counter.

Be a part of rental automobile loyalty applications: These applications are typically free to hitch. In trade for signing up, they provide perks like member-exclusive charges, or the power to skip the road (which received’t lower your expenses, however can prevent time). For loyal clients with elite standing, count on complimentary upgrades, free rental days and extra.

E book now, then rebook: Most rental automobile corporations don’t require fee upfront. Given the unpredictability of journey, it will probably make sense to order a automobile rental as quickly as you’re in a position to. Then, periodically test in along with your rental automobile firm’s reserving software to see if costs drop. So long as that firm doesn’t cost a cancellation charge (most rental automobile corporations don’t), then cancel and rebook the identical rental.

You desire a journey bank card that prioritizes what’s necessary to you. Listed here are our picks for the greatest journey bank cards of 2022, together with these greatest for: