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Study reveals that car hire costs have fallen worldwide

A recent study has revealed a significant drop in the cost of car hire around the world. The 12-country study indicates that prices have fallen by 27% compared to 2023 and an impressive 42% compared to 2022, bringing them close to pre-pandemic levels.

This summer, hiring a small family car will cost an average of £380 per week. This is a substantial decrease from previous years, with the average car hire rental cost being £652 in 2022 and £520 in 2023.

If you are planning a trip to Australia, Spain, Germany, or Turkey, you will find these destinations offer the most affordable car hire rates, with weekly averages of £297, £306, £311, and £360 respectively. Conversely, Italy, Switzerland, and France are the most expensive, with weekly rental averages of £446, £460, and £523 respectively.

While many car hire prices have decreased, it is important to be aware of the cost of optional extras; for example, car hire excess insurance can be particularly costly if purchased at the rental desk, with an average price of over £200. Additional costs for adding a driver, tyre and windscreen excess cover, a child’s car seat and a sat nav can push the total to £783 to hire the car for a week.

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Consider a specialist provider

To mitigate these expenses, consider purchasing car hire excess insurance from a specialist provider such as Policies from such providers start at much lower prices and include coverage for theft, damage, and tyre and windscreen cover. Without such insurance, drivers could face an average excess liability of around £1,500 in the event of theft or damage.

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Plan ahead to save

Planning ahead can lead to significant savings. Avoid costly extras at the rental desk by bringing your own child car seats and sat nav. By doing this, you can enjoy your holiday without the worry of unexpected costs.  Read more tips about car hire savings here.
As you plan your summer holiday, remember to shop around for the best car hire deals and assess your insurance options to ensure a cost-effective and enjoyable trip.

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