PERSONAL FINANCE MANAGEMENT

7 tips to save when renting a car on your vacation

Are you ready for your next vacation? Do you know how you will transport yourself? Renting a car is a fairly comfortable and economical option, especially when you travel to places where there is little transportation, when there are long distances between destinations to visit and when you want to move around more freely, if you can’t bring your own car.

According to the personal finance portal in the first quarter of 2019, the average car rental expense among its users was $100 in agencies such as Hertz, Avant, Sixt, Europcar, Fox rent a car, Avis, Dollar Rent a Car and Carrot. This is a considerable expense, therefore, now we want to give you some recommendations of savings.

1. Book as soon as possible

One of the best options to save when renting a car is to reserve in advance. The closer you get to the date you will use the vehicle, the more economical ones are likely to have already been reserved and therefore only the most expensive ones are available. Agencies can even raise their prices in high seasons.

Therefore, it is recommended that you make your reservation in advance online because, usually, the prices are lower. If you rent the car physically on a daily basis, you can pay twice as much.

2. Compare options

Another great way to save is to compare prices. One tool that can help you in this work is a comparator like the one in Rastreator.

Here you can filter by location and date of collection. It shows you the cheapest options from various agencies, including the type of car (economy or luxury), size, model, number of seats, if it is manual or automatic, if it has unlimited mileage, among others.

3. Insurance

Some credit cards offer you car rental insurance, especially gold, platinum and frequent flyer cards. Consult your bank for the conditions to make the coverage effective. On the other hand, also ask the car rental agency, if it is possible to omit the car insurance charge in the total cost, if you already have your credit card.

4. Gasoline expenses

Another extra expense you may incur is the cost of gasoline, usually you get the vehicle with a full tank and have to return it in the same condition. Otherwise, the difference in liters, can be charged at a higher price compared to the price at a gas station. So, consider that you are responsible for all the gasoline you spend.

Some of the cars that spend less fuel are: Chevrolet Spark, Dodge Attitude, Peugeot 301, Mitsubishi Mirage. Maybe you will decide for some of these models, the point is that it will be to your needs, tastes and budget.

5. Return in the same place of delivery

If you deliver to a different location than the one you picked up, the total cost of the rental may increase. Ideally, then, you should return to the same place where you picked it up, however, it may be more convenient to get to another location. This can offset the cost of cabs, which are usually quite expensive. Do the math.

6. Register a single driver

Every driver who drives the car must be registered in order for the insurance to extend coverage in case of an accident, and this has an additional cost. Some agencies have loyalty programs where you sign up and they do not charge for additional driver registration, check out their promotions.

7. Avoid cancellations

You should know if there is any extra charge when you cancel or how much time you have to make a cancellation if you can no longer travel on the day you booked.

Finally, so that you don’t spend too much and consider if it is really convenient for you to rent a car, our recommendation is to elaborate a budget of each of the expenses according to the savings that you have destined to your vacations, this way, you will see if it is enough for you.

Also, don’t forget to have an emergency fund so that you are prepared for any eventuality. To get the best prices and benefits, compare car rentals online, usually better prices are offered when booking in advance.

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