How Much To Rent a Car for a Month?
Renting a car is almost never cheap, but everyone knows that a long-term car rental is significantly more expensive than renting a car for a day or two. If you need to rent a car for more than a few weeks, you’ll need to know what you’re getting into financially.
Today, let’s break down how much it is to rent a car for a month on average by analyzing several key aspects.
Factors That Affect Car Rental Costs
Of course, there’s no single answer to how much it costs to rent a car for an entire month. Instead, your total cost will be dependent on several key factors, which can affect the initial price per day for the vehicle, how much it costs to rent for such a long time, and more.
Let’s take a look at these factors one by one.
Make and Model
Firstly, the vehicle’s make and model will heavily influence the per-day price for long-term rentals. For example, sporty or luxury cars will necessarily cost more than economy cars. Economy cars, like basic sedans or trucks, are much better in terms of gas mileage and budget-friendliness.
That’s because these cars are more common and they aren’t as in demand as nicer, more specialized vehicles. If you want to save money on a car rental for up to a month, go for an economy car if possible.
Furthermore, the newer the vehicle is, the more expensive it will be to rent, especially for an extended period of time. New or large SUVs, hybrids, or Toyota models with extra amenities like GPS navigation and satellite radio generally cost more. That’s because the rental companies have to pay more money to purchase new vehicles than old vehicles. Therefore, they charge higher rental prices and extra costs for newer vehicles to pay down those costs over time.
Time of Rental
The time at which you make reservations for a rental vehicle can also influence the overall cost. Generally, it’s more expensive to rent cars during the holiday season, when rental demand spikes and rental companies can charge more without having to change any of their operations.
Furthermore, if you rent a car during the week, you’ll probably have to pay more because that’s when most rentals are made (by individuals who don’t have their regular cars for one reason or another).
Because of this, you should call a car rental agency and ask specifically about the cheapest times to rent when planning your monthly rental. This isn’t always possible depending on why you need the rental car in the first place. But it could be a way to save some money in the long-term if you pick up your car on a cheap date and also drop it off at a cheap time during the week.
Location for Pickup/Dropoff
Car rental agencies may have several locations in your state or around the country. However, the rental rates for different locations even within the same agency are not always the same.
That’s because different car lots or rental company locations will have different cars in their current fleets. If you want to rent a car from a specific rental car company, but they don’t have the desired type of car at your chosen lot, it will cost them more money to drive the car down. This cost will be reflected in an increased price for your per-day rental rate.
Therefore, you should also shop around and check individual car rental locations before signing on the dotted line. A car could be cheaper to rent from one location than another, even if both locations are owned by the same company.
Age of Driver
Your age will influence your per day rate because of young driver penalties. Young driver fees kick in for drivers under the age of 25 to reflect the statistical likelihood that such drivers will get into an accident, costing the rental company more money.
As a result, it’s recommended not to rent a car for a very long time until you are 25 or older. If you must rent a car under the age of 25 for a month, be ready to pay extra from young driver fees alone. Depending on the company you rent from, they may have ancillary charges or fees to reflect the extra insurance burden they take on renting to you. Drivers over the age of 25 may get better rates.
Number of Drivers
Additionally, how many drivers you sign on to the vehicle will influence the overall price at the end of the day. The more drivers you have, the more money you need to pay upfront. This may not influence the per day cost of the rental, however.
Instead, most car rental companies simply charge an extra fee for each extra driver who will be using the rental services. If possible, keep the number of registered drivers low, even if you are taking a group vacation. In this way, you’ll save money when you make your initial payment for the monthly car rental.
Lastly, any insurance coverage fees or costs you have to foot the bill for will add to the total bottom line. It’s highly recommended that you get car insurance when renting a vehicle, especially for a month or more. That’s a lot of time in which an accident can take place or during which you may accidentally damage the vehicle.
The only time you shouldn’t get extra insurance is if you already have personal driver insurance for your own car. In this case, your personal insurance policy may also cover any damage to rental vehicles, so you are covered either way and don’t have to worry.
If you don’t have this insurance, always foot the bill for rental insurance from the company you choose. Yes, it costs more, but it will save you tons of money in the event of an accident or any damage to the rental vehicle.
If you fail to get insurance, you may be forced to foot the bill for hundreds or even thousands of dollars of damage. Such an event can easily during your bank account or credit card.
Average Rental Car Cost in America
So, when all is said and done, what is the average rental cost for a month in America?
According to some sources, the average cheap car rental in the US can be as little as $12 per day. If you multiply 12 x 30, you get an average monthly rental rate of $360 for a single vehicle.
That said, this rate assumes that you rent a very cheap, economy car without a lot of bells and whistles. This also doesn’t take into account the cost of gas, which you will need to pay for during your journey and when you turn the car in.
Gas can easily run you $30 or more per few days depending on how much you drive the car, like on highways or through national parks. You should also consider whether the car has unlimited mileage, as mileage limits may restrict your trip.
Generally, you should expect to pay between $300 and $700 or more to rent a car for a month. In many cases, it will cost you well over $1000 or even up to $1500 to rent a vehicle for a month when all the other fees are accounted for.
Ultimately, the choice to rent a vehicle for a month is up to you. It can be very expensive if you opt for a better, newer vehicle, and if you are under the age of 25.
That said, you can rent a car for a month and save some cash by choosing a budget-friendly rental car service like Advantage. At Advantage, we offer affordable rental cars for young and old drivers alike, plus a variety of quality models from our fleets. Check out our rental options today.