When it comes to the car rental market, one change seems to create several changes thereafter and all of the moving parts are affected by each other. If you're looking for the most affordable car rentals around, it's a good idea to arm yourself with up-to-date market information. Here are the key trends shaping the rental car industry.
Demand Continues to Rise
Airlines have been increasing their capacity, which creates more demand on the travel industry overall. This in turn raises the demand for rental cars. For the buyer, it may be harder to find rock-bottom rates. Since regular rates may not be as low as in past years, using car rental coupons will help with cost.
Supply Stays Relatively Steady
Many major car rental agencies are purchasing fewer cars, mainly because of uneasiness over the market as a whole. However, there are a few car rental companies on a bit of a shopping spree, voraciously adding to their fleet. This means consumers can find deals if they're willing to do a bit of digging — especially at independent rental agencies.
Pricing Remains Strong
When the rental car market softens, holding costs go up, which eventually raises prices. Plus, since demand is up but supply isn't, rates will likely increase. For the buyer, discounts become more important than ever, since normal pricing will be robust even during slow seasons.
Larger Vehicles Offer Better Value
Trucks and vans tend to have better protection against deflating value when compared to standard cars. For those planning a group trip or needing extra space, choosing a larger auto may offer better value for money.
Keep an eye on rental market trends and book early when demand is high. Off-peak travel, flexible dates, and comparison shopping will always be your best tools for finding great rates.
Search independent agencies to find competitive pricing regardless of market trends.