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The Key to Car Rentals By Amy Ziff, Editor-at-Large
September 1, 2004
You've been listening to me preach that the most important thing to keep in mind when renting a car is getting the total price. And it's true that there is nothing worse than blowing your vacation budget by finding out that your $300 car rental is suddenly $510 once the taxes and fees have been added at the airport. But now it's time for me to consider how else you can you save on car rentals.
Start by considering an off-airport rental. Many hotels can tell you the closest car-rental location to your hotel (try calling the concierge), and you can also use an online site to find off-airport car-rental facilities. These off-airport, downtown locations can sometimes save you money. Of course, it can cost money to take a taxi from the airport to the downtown office, so it may not always be the way to go, but if you know enough about your destination you may be able to make a quick mental calculation as to whether or not it's worth it. Using an off-airport option can also be handy if the airport location is sold out or doesn't have the vehicle you requested.
The thing about renting a car that is different from other travel bookings is that rental-car companies have movable fleets. If you wait until the very last moment to make your rental-car reservation, it may mean they won't have the vehicle you want. The key is to book early. Car-rental suppliers have sophisticated revenue management systems and know quickly when competitors have closed off their inventory, which generally results in immediate rate increases. Therefore, the earlier you book, the better off you are.
Seasonality and market specifics drastically effect car-rental pricing. For example, if you're trying to rent a minivan in Orlando for the family, you're most likely to encounter what is called "availability risk." That's because most customers stay between four and seven days in Orlando, and the minivans are always on the road. As you approach the weekends there is a higher likelihood of a sell-out and less choice. Because of the increasing scarcity, prices tend to get higher the closer you get to the day of pick-up. The same thing happens when you're renting a convertible in Los Angeles on a spring weekend. And if you're headed to ski in the Rockies this winter, rates could be as much as 40% more if you rent at the last minute.
If you are renting for a weekend, the best time to pick up a car is after noon on Thursdays with a Saturday-night stay. The most expensive day? Sunday. Weekend rates tend to end at 2pm that day. Therefore, picking up a car late on a Sunday subjects you to high weekday business rates.
Speaking of the business traveler, in business cities, beware of Wednesdays. Suppliers try and sell out their fleet on this peak rental day, the day when most of their fleet is on the road. Customers without reservations may not find a car, and may face steep walkup rates if they do find one. Even with a reservation, Wednesday is the most common day to have to wait for your vehicle. Business travelers and other road warriors can combat wait times by renting as often as possible from the same major supplier and joining its frequent renter club (Hertz #1 Club Gold, Avis Preferred, National Emerald Club, Budget FastBreak, etc.) as club members receive top priority.
So when renting a car, you now know to book early and to get the total price. Now you're ready to cruise in the fast lane.
If you have a question or topic you would like me to cover in a future column, please e-mail Amy Ziff at askamy@travelocity.com. And remember to look here for your topic each week!
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