Holidaymakers who have made car reservations for their upcoming summer or autumn vacation can significantly save money by canceling and rebooking their vehicle as prices decrease.
A recent study analyzing rental prices in Europe has revealed that costs have nearly halved since January, when most individuals booked their holidays and means of transportation.
Since providers often offer free cancellation up to 48 hours before the scheduled booking, travelers can now easily cancel their existing reservations and rebook the same vehicle at a much lower price.
According to ICarhireinsurance.com, a company providing excess insurance, the average weekly car rental cost was £578 at the beginning of the year but has now decreased to £317. This represents a 45% saving on a medium compact car, such as the Ford Focus.
For instance, a Peugeot 208 rented from Nantes airport in France for 11 days initially cost £398 when reserved in March. However, the same booking now costs only £230.
The prices can decrease rapidly when car rental companies want to avoid having unused vehicles, explains Ben Wooltorton, a representative from iCarhireinsurance.com.
“It’s advisable for people to make advance bookings to secure a vehicle for their planned trip but make sure to choose a company that allows free cancellation, usually with a 48-hour notice. Additionally, travelers should check prices again before their journey,” suggests Wooltorton.
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