Home Business NewsBusinessAutomotive News Three fifths shocked by increase in price of hire cars

Three fifths shocked by increase in price of hire cars

by LLB Reporter
14th Jun 23 11:24 am

Three fifths (59%) of hire car drivers are shocked by how much hire cars have increased in price, but half (51%) are still willing to pay more from a brand they trust, according to a new survey of over 1,000 hire car drivers, carried out by Opinium on behalf of iCarhireinsurance.com, a leading supplier of car hire excess insurance.

More than half (56%) of hire car drivers usually book with a well-known international brand, with over half (56%) believing they are better protected as a consumer doing this.

Only two fifths (43%) say they are willing to use a local car hire company, under 34s are more cautious, with a third (32%) being willing to use a local company, compared to just half (49%) of over 55s.

Half (51%) don’t mind who they book with, they just want the best price for what they need, with a quarter (27%) booking the cheapest car available of the size they need.

A recent iCarhireinsurance.com cost comparison study* found car hire prices have fallen since the beginning of the year in many European hotspots. To take advantage of a better deal, closer to departure, many companies offer free cancellation if you cancel at least 48-hours before the booking. However, in this study only a fifth (21%) of car hirers will ensure they book a hire car with a company which offers free cancellation next time they book, and only 22% will check the car hire rental prices again just before they travel to see if they can get a better deal.

Prices vary considerably depending on which company you book with, and when, so it is interesting that only three in ten (29%) will use a comparison site to check prices, and only a fifth (22%) will book their hire car as soon as possible to secure the best price for the type of car they want.

Ernesto Suarez, founder and CEO of iCarhireinsurance.com, said: “Car rental prices have actually fallen this year, but in many locations prices are still higher than we’re used to, making it really worth shopping around.

“Many people feel more comfortable booking with a brand they are familiar with, and there are other benefits as many international brands offer free cancellation, as long as 48 hours’ notice is given, so this can be a great way to potentially save money if you do find a better deal closer to your holiday departure.

“Also, if you do need extras, make sure you try to take child car seats and sat navs with you and for excess waiver insurance, consider buying before you travel from a standalone insurance provider, like iCarhireinsurance.com.”

Leave a Comment

You may also like


Sign up to our daily news alerts

[ms-form id=1]