One of the most challenging things about car rentals is that their prices change often. In fact, it is challenging to predict what the rental rate of a car you hired few months ago is right now. This is because there are lots of factors that affect the rental price of a particular car.
The type of car, the demand for the car, and the time that you intend renting the car are just a few things affecting the rental price of any car. However, many people believe that car rentals are often cheaper when they book closer to the date they intend using the car. But, is this really true?
We will attempt to answer this question in this post.
WHY THE CHANGE IN CAR RENTAL PRICES?
One of the major reasons for car rental price fluctuations is the inconsistent flow of demand. The aim of any car rental agency is to rent out all the cars in their garage. This means that they will do almost anything necessary to ensure that they get all the cars out of their garage. Hence, they will crash the rental price of any car with the aim of attracting customers. In the scenario where there is more demand than the amount of cars available, they will increase the price to generate as much profit as they can. You can have access to affordable car rentals by clicking here.
DO CARS RENTAL PRICES CRASH AS THE RENTAL DATE APPROACHES?
There is no straight answer to this question because of the factors that have been stated earlier in this post. In some cases, the prices may go up as the rental date approaches and in others they can be ridiculously cheap. You could be fortunate and find that every determining factor of car rental prices happen to work in your favor as your desired rental date comes closer. In other cases, these factors may work against you.
One of the things that may affect the rental price is the location where you intend renting the car. Imagine that you need to rent a car after a flood. There is a high chance that the rental prices of most cars will be on the rise during this period. Why? In most cases of floods, a lot of people do not have access to their cars due to the disaster that has just occurred. As a result, there will be a high car rental demand. Hence, there will be an increase in. If tons of people decide to cancel their car rentals reservation, the rental agencies will have to bring down the rental prices to attract more customers.
LAST MINUTE CAR RENTALS
You may not be able to book for a car rental service as early as you should all the time. Sometimes things may happen that are beyond your control. Hence, the need to rent a car at the last minute. In most cases, the rental prices of cars go up in the 48 hours before the rental date. However, the prices may be surprisingly cheap due to the factors stated earlier.
It is always advisable that you book before the rental date. If the prices become cheaper, you can ask for a refund and then book again. Most rental agencies offer refunds for cancellations.
