What’s The Best Time to Rent a Car?

Navigate the ins and outs of your next car rental booking, from price changes to insurance tips.

When it comes to the best time to rent a car, there’s no one-size-fits-all answer. A lot comes down to where you're traveling domestically or internationally, the kind of ride you're after, and how flexible you are. Get the scoop on rental car price trends, booking timing, and what to watch for with rental car insurance and payment options. 

Considerations before Timing and Booking your Car Rental

Car rental prices and availability can be a bit of a puzzle. But don’t worry—figuring out these factors can help you get the best deals and find your perfect ride. 

Price Fluctuations: Understanding the best time to rent a car can help you avoid peak pricing. Car rental costs change with the season, holidays, and car type. Off-season pricing tends to be more economical.

Rental Companies: Competition among domestic car rental companies can help you find the best deals and amenities, but in countries with fewer rental options, prices can be higher. 

Trip Length: Short-term rentals (1-3 days) often cost more per day, while long-term rentals (1 week or more) usually offer you better rates.

Car Type: Size and brand of vehicle will directly impact the cost of your rental. Internationally, automatic transmission (vs. manual or stick shift transmission) cars may be harder to find and more expensive.

Purpose for Rental: Choose a car that suits your needs, whether you’re camping or exploring the city. 

Save by Booking a Car Rental in Advance

These car rental tips can help you maximize your savings and your peace of mind:

Off Peak Rentals: Planning your car rental booking at the best time can lead to even better rates.

Weekday Savings: Weekday rentals, especially on Tuesdays and Wednesdays, are usually cheaper than weekends.

Book Early: Reserving your car several weeks to a few months in advance can help secure better rates and ensure availability.

Plan for Specific Needs: Booking early is crucial if you need a specific vehicle type, like a minivan for a family trip.

Compare and Decide: Planning ahead gives you time to compare prices, read reviews, and make informed choices. 

Booking Last Minute

Understanding the best time to rent a car can help you decide if waiting for a last-minute deal is worth it. Flexibility can make such discounts a great option. According to a study, booking your rental car just three days before your trip can score you impressive deals (check it out here). However, while last-minute deals are tempting, they come with some risk, as availability might be limited and prices can fluctuate. 

Consideration Before You Book A Car Rental

Age Limit

In the US, rental companies typically require drivers to be at least 21. Internationally, age requirements can vary, with some countries requiring drivers to be 25 and adding surcharges for younger or older drivers. Check the rental company’s age policies and local regulations before booking. 

Understanding Car Insurance

Understanding car rental options like collision damage waivers, liability insurance, and Personal Accident Insurance (PAI) can help provide you with peace of mind in the long run. Always read the details carefully, including deductibles and potential fees. Before you agree to these, check your existing auto insurance policy or credit card benefits, as they might already provide coverage for rental cars.

Ensure Your Driver's License is Valid Abroad

Before you book a rental car overseas, double-check that your driver's license is good to go for your destination. Keep in mind some countries may also need an International Driving Permit (IDP), which serves as a translation of your license. In many cases, you can apply online for an IDP. 

Parking Availability

Look into parking options at your destination to avoid unexpected hassles, and fees.

Gas & Diesel Capacity and Charging Stations

Make sure you rental car has enough gas or diesel for your long trip. If driving an EV, plan your route so you can recharge along the way.

Payment Options

Different payment options can make renting a car easier. While many companies accept credit cards, some also take debit or pre-paid cards, though policies can vary. For instance, using a debit card might require a larger hold on your funds and may lack the fraud protection of credit cards. Pre-paid cards often aren't accepted, so it’s a good idea to check with the rental company in advance. 

Choosing the best time to rent a car can ensure you get the best value and experience. From booking off-peak travel to understanding your payment and insurance options, you can make the process smoother and more enjoyable!

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.

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