Like any other product or service, the price of the rental car depends on the market supply and demand factors. Some people book a car at the last minute, while others hire a rental car service a few weeks before their travel plans. So, which option is the best? Should you book a car early or leave it to the last minute? Car rental companies want to rent as many cars as possible, so they raise or lower the prices based on the current market demand. The luxurious rental cars almost always come with a high price tag.
The best time for the rental car booking depends on a few crucial factors. For example, where you are going, which type of car model you need, by when do you need to arrive at your destination, which season it is, and who you are traveling with are a few things that may affect the car rental price.
Where are You Traveling?
The prices for rental car services fluctuate a lot in the big crowded cities, especially on the airport roads and at vacation spots. The companies might change the rates multiple times a day. A last-minute rental booking is not a good idea for people traveling in a crowded city. You should rather start looking for car rentals as soon as you make travel plans – whether you want to go to the airport or a holiday spot on the outskirts of the city. Early booking is highly recommended, as it will help you book your ride at a reasonable price.
The same is the case with the smaller towns with less crowded streets. Waiting for the last minute to book a car is probably a bad decision, as most people booking cars in advance. Even though prices for a car rental do not fluctuate a lot in the smaller areas, they tend to be higher than the standard rates for late booking.
The Type of Rental Car
The ideal time for booking a rental car service also depends on the type of car you need. Early booking is a must if you want an unusual type of car or a luxury vehicle, such as a limousine or a 7-seater. That’s because car rental companies, especially in smaller towns, own a few of these luxurious sets of cars. These cars are often booked in advance, so you may have no luck finding your favorite luxury vehicle at the last minute.
Whether you want to make a grand entry at your wedding reception or give a comfortable ride experience to a business partner, a limo is your best bet. Just make sure you book the car at least 4-6 weeks ahead.
So, What’s the Ideal Time for Rental Car Booking?
As a general rule, you should book any type of rental car service at least two months ahead. There is no point in booking a car further ahead, as car rental prices are higher if you book a year before your trip. If you need a compact, mini, or casual car and you are booking it a few days before the trip, it shouldn’t be a problem finding the most suitable rental car. That’s because rental companies have many mini and compact cars. However, the rental rates may increase later if the demand is high.
It goes without saying that the last-minute booking will cost you a lot higher than the standard rates.
Despite the high prices, many people rent a car within a week of their travel plans. After all, not every trip is planned ahead. Last-minute or emergency booking is the only viable option for those who have urgent travel needs. If you book within 24-48 hours of your trip, you will be charged a high price. That’s because prices almost always go up at the last minute. Besides, there is a chance you may not find a car of your choice if people have already booked the best cars.
Surprisingly, some car rental companies still offer the best rental prices for car hire even if you book it a few hours before your trip. You can find and book these cars online. Online booking allows you to compare car prices and book the cheapest one. Some car rental companies have an option that enables people to filter the search results by the type of car, price range, and other categories.
Do You Get a Full Refund for Cancellation?
The terms and conditions for car cancellation vary from company to company. Most of them offer free cancellation, but it’s only valid if you cancel your booking within a specific period. For instance, you get a full refund on canceling the car a few days after the booking or 2-3 weeks before the pick-up date.
If you are booking car rentals a few weeks ahead, check the cancellation policy of the company. If you find a car rental service that offers the same car at a lower price, you can cancel the current deal and hire a new car at a lower price.
Rental Car Booking Tips
Make your travel plans according to the season. Car rental companies receive low demands for cars to a popular summer holiday destination during winters. So, this is an ideal time for families to book rental cars for the summer holiday spot.
Early booking is your best bet if you are traveling to a crowded city. As mentioned earlier, car rental rates can go up at any time of the day in a busy city. So, you must always book these services ahead of time – preferably 2-3 months before your trip.
Last but not least, you always have the option to cancel your ride and grab a new deal if it’s available for a lower price. Check the cancelation policy of the current car and get a full refund for the early cancelation.
