Car Rental Prices Up Due to Car Shortage

Summer is a busy time for travelers. Then you also have the 4^th of July weekend. According to AAA, 43 million people are going to drive during the 4^th of July weekend this year. That’s a 60% jump from last year’s numbers. If part of your travel plan involves renting a car, you might want to reconsider your decision. There is now an existing rental car shortage happening nationwide.

Shortage And Higher Prices

Given the shortage, car rental prices have doubled (or even tripled). During the start of the pandemic last year, some companies sold their fleets just to survive. Unfortunately, now that domestic travel is back, car rental companies can’t just get new cars as the car industry struggles with the supply of computer chips.

Auto sales are up during the second quarter of 2021. If not for the computer chip shortage, the uptick would’ve been higher. Because of the lack of computer chips, some factories and dealerships were forced to close.

Tips On How to Avoid Car Rental Problems

If you are going to rent a car during this time, don’t be surprised if you end up paying more. There were cases where people have to pay three times more due to the shortage. According to Consumer Reports, there are a few things that you can do to lessen the stress when traveling.

First, you’d want to book a rental ahead of your scheduled trip. Unfortunately, if you’re going to have a trip this 4^th of July weekend, and you still haven’t rented a vehicle, there is a chance that you won’t be able to find one. Second, you might as well just consider using Lyft or Uber especially if you are not doing a lot of driving. Let’s say that you’re visiting a resort for the weekend, then it might be practical to just use these ride-sharing apps. And lastly, consider going to a less popular destination. Hawaii, Las Vegas, and Orlando are some of the places where rental vehicles are sold out for weeks in advance.