Why are rental cars suddenly so expensive?

Rental car prices have been surging because demand is high and supply is low, both due to the coronavirus crisis and the chip shortage. To mitigate it, I should book as soon as I'm even *thinking* about traveling somewhere. I should also avoid certain locations (especially those near nature destinations).



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Car rentals cost more than they did a few years ago due to many different factors, but primarily because of supply chain issues related to the COVID-19 pandemic. As demand for rental cars fell, rental car companies sold segments of their fleets to stay in business during the lean times.

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The sudden surge in post-vaccination travel is colliding with a relative shortage of rental cars. Rental-car companies sold a huge chunk of their fleets—hundreds of thousands of vehicles—to survive the pandemic.

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Holidaymakers face soaring car hire costs as shortages drive up prices. The cost of renting a car in European holiday destinations has almost doubled in the past three years, and experts predict prices will remain high as global shortages mean car hire firms are paying more for new vehicles.

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Car rentals cost more than they did a few years ago due to many different factors, but primarily because of supply chain issues related to the COVID-19 pandemic. As demand for rental cars fell, rental car companies sold segments of their fleets to stay in business during the lean times.

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Why are car rentals so expensive right now in 2023? Car rentals cost more than they did a few years ago due to many different factors, but primarily because of supply chain issues related to the COVID-19 pandemic.

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Car rental supplies, especially for automatic cars, have always been limited in Italy. The pandemic has compounded this situation as people prefer to drive rather than take public transportation options and many companies sold off some of their stock. Make sure to book your car well in advance to avoid disappointment.

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The cheapest country to rent a car is Poland, where car rental prices start from 3.97 EUR per day or 27.82 EUR per week.

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Through 2023 at least, limited vehicle availability will continue. However, most experts report some recovery on the horizon. There were finally early signs of increased allocation to rental fleet channels in fall 2022. Operators still need to be clever in how they source cars as we inch toward supply recovery, though.

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Whether you have a new car and you want to keep the mileage low, or you have an old car and you're trying to keep it going, renting a car is a great way to save the wear on your vehicle. Rather than take your auto on the highway for a cross-country journey, consider renting a car for that next road trip!

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Rental companies maintain their cars well and closely follow the service schedules. And because the rental car agencies buy vehicles in volume and pay less up front, their resale prices can be lower.

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While renting a car isn't necessary or even advised if you're only visiting major tourists city (you can't even bring your rental car into the old town Florence, and having a car in Rome is a very bad idea not just because of traffic but also because many main attractions are only accessible by foot anyway), if you ...

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It's 27% less expensive to live in Italy compared to the UK, which is a significant difference. While some things in Italy are more expensive than in the UK, in general, it's a cheaper country to live in, especially when you take into consideration its higher average wage.

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If you're looking to rent a car in Italy, then Catania is the cheapest city to do so as prices are just $3 per day. According to our data, it's 73% cheaper for a rental car in Catania as opposed to renting one in Venice (which costs $11 per day).

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When renting a car in Italy you must purchase collision (CDW) and theft insurance. Declining this insurance is not an option and the price you are quoted will always include it. Sounds good except there's a catch: the insurance comes with a substantial deductible or excess, usually in the €1000 to €3000 range.

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Understanding the Disadvantages of Renting a Car
  • There is no hired driver. One of the most significant disadvantages of renting a car is it doesn't come with a driver. ...
  • High prices. ...
  • Strict terms and conditions. ...
  • Unfamiliarity with the vehicle. ...
  • Responsibility for any mishaps. ...
  • Less time to relax and enjoy.


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