The cost of car hire experienced a significant increase last year due to a widespread shortage of vehicles. Despite rental companies replenishing their fleets, rates have not dropped as much as expected and remain considerably higher compared to three years ago. A recent survey conducted by Which? revealed that 13% of travelers were charged more than the initial quote for car rentals, with an average additional charge of £101. The consumer group also highlighted that drivers face additional costs in securing insurance for rental cars, as the policies offered by car rental companies tend to be overpriced and of subpar quality.
Which? recommends that travelers purchase insurance from third-party providers in advance to avoid paying extra fees at the rental desk. However, it’s important to note that such policies may require a hefty deposit and an excess payment in the event of an accident. The high demand for rental cars continues to contribute to the increased costs, with Zest Car Rental reporting a 132% rise in advance bookings compared to the same period last year. Rental companies are also grappling with higher staffing and insurance expenses, as well as the surging prices of cars.
According to Zest Car Rental, the average cost of purchasing a Fiat Panda, a commonly used car in rental fleets, has risen by around £5,000 since 2019. Jo Rhodes from Which? Travel advises holidaymakers to “shop around and book in advance to secure the most competitive rates, especially during peak periods.” She further emphasizes the importance of using recommended companies or small local firms endorsed by trusted brokers, while also remaining cautious of prices that seem too good to be true. Paying in advance, when possible, often proves to be cheaper overall and helps guarantee the booking. Additionally, third-party insurance should be obtained before traveling, as past instances have shown that rental companies sell inferior policies at inflated prices at the rental desk.
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