When making your travel budget, don’t assume that lodging and airfare will be your biggest expense. Now, more than ever, rental cars are shaping up to be one of the
While airfare and lodging prices are certainly near all-time highs, rental cars are among the biggest price increases of all travel expenses. When comparing prices for July 2022 versus July 2019 , hotel prices are up 7% , according to the latest set of Consumer Price Index data released in August 2022. Airfares are up 16%. But rental cars are up a whopping 48%.Like most travel costs, rental car prices sharply dropped in April and May 2020 as people began calling off vacations to stay at home.
Prices have slightly dipped from the July 2021 record, but they are still far above pre-pandemic pricing.NerdWallet conducted an analysis of 360 rental car reservations to better understand the cheapest ways to rent. Some of the findings may help you save on your next rental car. That knowledge can help you better understand the cheapest places to book, but sometimes booking from a specific location or company might be non-negotiable with the nature of your trip. These other tricks can still help you save:
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