How Much To Rent A Car: Car Rental Costs In 2024 (2024)

• Most rental cars now cost a minimum of $60 per day before taxes and fees.
• Miami has the cheapest car rental rates among major U.S. cities.
• National Car Rental almost always has the most expensive rental car rates.
• Booking rental cars last-minute tends to be cheaper than booking in advance.

Forbes Advisor conducted an analysis in August 2024 of average rental car costs to determine trends within the agency. We collected data for rental car costs across multiple cities and rental car agencies for multiple car sizes.

On average, renting a smaller sedan (often advertised as a “compact” car) costs about $63 per day before taxes and fees are added, though larger vehicles or cars with more features can easily cost more.

A number of factors will impact your specific cost to rent a car, including:

• The city and specific location of your rental pick-up and drop-off
• Type of vehicle chosen
• Car rental company
• Duration of rental period
• Rate type, including prepaid or nonrefundable restrictions
• How far in advance you reserve the car
• Age of the driver

Our analysis looked at 10 of the busiest U.S. airports to evaluate the cost of renting a car. Prices varied considerably by market, with both the cheapest and most expensive rental cars being found in Florida when checking the average rental car base rate per day.

After accounting for taxes and fees, Orlando’s weekly prices look much better. Though Miami continues to be the cheapest location to rent a car when looking at a tax-inclusive cost for a week, Las Vegas falls into last place when considering the total weekly bill.

Miami is the only city in our data set with a weekly cost under $700 once factoring in taxes and fees. Most other cities fall between $700 to $800, though both Denver and Las Vegas exceed that upper boundary.

Within each city, Forbes Advisor also collected data on the average weekly cost of a rental car across five popular rental sizes (compact, midsize, full size, standard SUV and minivan) and over a dozen different car agencies including Alamo, Hertz and Thrifty, among others.

In this analysis, National had the highest rental car prices across all five rental sizes. On average, a weekly compact rental car from National cost $781 with taxes and fees and a minivan cost nearly double that at $1,492. That’s considerably higher than the overall average rate across agencies.

There wasn’t a consistently cheapest agency: Each rental car size had a slightly different ranking. However, common bargains included rentals with Ace, Fox, Nü and Thrifty.

Advertised rental car rates don’t always reflect what you’ll actually pay for your rental, though. It’s not uncommon for companies to advertise a base rate but offer coupons, corporate rates or other discounts that impact which agency is cheapest for your travels.

Contrary to popular belief, making reservations far in advance is rarely the best time to book a rental car. The price of rental cars tends to drop as you get closer to your pickup date. Our analysis shows that, on average, costs drop by nearly $25 per day when booking only a week or two in advance. That amounts to almost a 20% discount.

Booking at the last minute may save you money, but can come with its own challenges. Some locations may sell out of cars, especially on peak dates, or may not have the size or style of car you prefer compared to the options you’d have booking in advance.

Since many rental car reservations are fully refundable until pick-up, you may wish to book a rental car in advance to secure your preferences. Then, check back for better prices between when you book and when you travel. If prices fall, you have the option to cancel your original reservation and rebook at the new, lower rate.

Forbes Advisor also looked at the best car rental websites to determine if one booking method was cheaper than another. Unfortunately, there wasn’t a clear winner—but there were distinct advantages and disadvantages that may sway your decision beyond price alone.

One takeaway on the best place to book a rental car, though, is that renting off-site from an airport can often save you on facility fees. Especially for long rental periods, it might be worth the cost and inconvenience of taking a taxi offsite to pick up your car.

These steps can help you save on the cost of your next car rental:

1. Comparison shop. Doing a little legwork to compare prices across different agencies and booking channels can help you find the best deal.
2. Use available discounts. Rental car discounts may include promo rates for group memberships (such as AAA or AARP), corporate discounts when renting for work, limited-time sales or perks for holding select credit cards.
3. Join rental car loyalty programs. Even if you aren’t loyal to a single brand, it’s worth signing up for your rental car’s (free) membership program. It may offer discounts or rewards—and it will likely save you time at pick-up, too.
4. Use a shopping portal. Many rental car websites and online travel agencies participate in online shopping portals and offer a rebate on the total cost of your reservation.
5. Pay with the right credit card. Many travel credit cards earn bonus rewards on rental car charges, and some provide car rental insurance at no extra cost. Additionally, some premium cards include car rental benefits normally reserved for loyal customers.
6. Monitor prices. If your reservation is refundable (which is common), keep an eye on prices. If costs fall, you can cancel and rebook at a lower price.

Rental car prices differ depending on the agency, vehicle type, location, dates of booking and other factors. To reduce expenses, compare costs among agencies, track prices after booking and consider other benefits and discounts available to you. Most importantly, review the terms of your rental agreement thoroughly to prevent unforeseen charges.