Car rental prices are sky rocketing

Renting a car in the U.S. has suddenly become more expensive - especially in vacation destinations. Orlando is renting a sub-compact KIA for three hundred dollars a day. Sheilah Benoit of Woodlake Travel says demand is way up for many reasons including more family vacationers.

"They will go for a couple of weeks to really enjoy a place. With that they will probably rent a car for exploring."

Supply is low as well...after huge losses last year, car rental companies sold many cars and now have only about half of what they had in 2019, but are back at buying cars again.

Renting a car many cost you hundreds more than last year - or even the year before. Supply in demand is one factor. Benoit says she is booking travel for vacation trips all over the country for Houstonians who just want to get a change of scenery. She has some advice: "There is a definite pent-up demand for U. S. car rentals. Booking early definitely gives you a better chance a better pricing and availability." Benoit also says forget the SUV and luxury cars and rent something smaller and more affordable. There will be more availability as well.

photo: Getty

Car rentals are getting pricier

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