Renting a car comes in handy for numerous situations, including when you’re traveling or when you need a car while yours is getting repaired. However, there are some things to know about car rentals before you jump into a contract. Like any legal, binding deal, there is fine print that’s essential to understand; otherwise you may find yourself out some extra cash. If you are looking at renting a car in the near future, here are 7 things you’ll want to keep in mind.
#1: Save Money by Resisting the Urge to Get a Vehicle You Don’t Need
It’s easy to want to get something fancy when you’re on vacation, or even when you’re tooling around town. But recognize that the nicer the car, the more money you’ll pay—and not just on the price per day. Everything is more expensive on a higher-end car, including the insurance to cover it and the cost to repair it should something happen when you’re the driver. Plus, if it’s a bigger car, the gas will cost more. Think about what you’re using your rental car for, and then rent accordingly. If you only need it to get to and from places, and you’re the only person in it, go for an economy car. As nice as it is to have a fancy ride, be mindful of your budget, and think about using the money you save for your own vehicle.
#2: Shop Around
Don’t grab the first price you see pop up on your computer screen for a car rental. Instead, search multiple sites, and see if there is a discount for renting directly through the rental company rather than a third-party travel site. Also, make sure to look off the beaten path; the big names are not the only options out there. Sometimes you can save quite a bit by going with a smaller rental company, or a website that specializes in car rentals only, and not air, hotel and all the other travel odds and ends.
#3 Don’t Prepay or Post-Pay for Gas
Gas is at a fairly reasonable price per gallon for the time being, so you don’t want to pay the prices the rental companies will charge you. The current average gas price is in the $2-3 per gallon range, while a rental company will charge you much higher. Save yourself the money by using an app like GasBuddy to find the nearest stations with the best prices to fill up after you pick up or before you return the vehicle.
#4 Car Seats and GPS: Don’t Add Extras
Car rental companies charge far more for extras than necessary. Think about it: If a car seat rents for $10 a day, after 7 days you could have bought a decent new car seat. Car rental companies will also offer you things like GPS, but remember, today’s smartphones have excellent GPS capability. If you don’t have it already, download one of many navigation apps that can get you around town and show you places of interest. Stash the money you’ll save for some new toys for your own car.
#5 Assess the Amount of Insurance You Really Need
Many car rental companies will talk to you about the importance of insurance—but make sure you know what your own personal policy covers in terms of a rental or as a driver, and how much their basic policy covers. You may not need all the extra coverage they’re trying to sell you. Plus, if you use a credit card to pay for your rental, there may even get additional coverage there. Do the research before you add on insurance you don’t really need.
#6 Take the Time to Inspect the Car Carefully
Many people rush through car rental inspections trusting that the company won’t charge them for a ding or dent, or believe that the company knows about all pre-existing damage. However, it always is important to take your time and play it safe. What happens if you do get blamed for something that was there that you failed to point out? In today’s world of smart phones, you can even document it with a video recording or some photos of damage you find. Also be sure to note mileage, gas level and if there are strong odors or interior damage.
#7 Don’t Return the Car Late
Late returns can really hurt you, and possible even cost you a full extra day. Schedule ample time to get back to the rental place well within your time limit. It could save you a costly penalty.
Rental cars are helpful in many situations. The key is to have all the right information to make it an economical and good experience.
