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Options, Fees, and Risks of Weekly Car Rentals

A weekly car rental could be a viable alternative to buying a car or renting on a monthly basis. However, there are various factors to consider. Pricing options are important to research since each rental car company has different pricing plans. Drivers should also guard against liability in case of an accident or collision. Additionally, consumers should be aware that many car rental companies attach hidden fees to their leasing agreements.

Price

The price of a weekly car rental may vary, depending on what type of car. For example, an economy-sized car at Enterprise Rent-A-Car will cost about $175 per week, while an intermediate SUV will cost approximately $335 per week. The price may vary with each rental company as well. For instance, at Hertz, an economy-sized car will cost around $45 per day, which equals to $315 per week. Hertz only has weekly rental rates for specific models.

Rental Car Insurance

When renting a car, consumers should make sure they are protected from liability in case of an accident or collision. This is especially critical when an incident has caused significant damage or injury. If a driver already has car insurance he or she should contact his or her car insurance agent to find out if the policy includes and is sufficient enough for the rental car. Some rental car companies may offer their own automobile insurance. Even some credit card companies may offer automobile insurance policies as well.

Rent-to-Own

If a consumer wants to own a car, but cannot afford to buy one or does not have good enough credit to finance a loan, then he or she may want to consider a rent-to-own agreement. In this type of agreement, the renter would rent a car and pay weekly or monthly rates. However, each payment will go towards purchasing the automobile from the rental car company. This may end up costing more overall, but for some people this may be the only option available for owning an automobile.

Hidden Fees

A consumer should make sure to understand all of the terms of the rental agreement when renting a car. Many rental car companies attach hidden fees with the lease. Some of these include excess mileage and early termination fees. Excess mileage fees are applied after a person has driven past a certain number of miles each week. The rental car companies charge renters a specified dollar amount per mile driven over the limit. Also, rental car companies charge early termination fees when ending a lease contract early.

Flexibility in Car Type

One of the advantages of choosing to lease a weekly car rental is the flexibility of choosing which type of car to drive. A consumer buying a car may be limited to what type of automobile by how much financing he or she is able to obtain. A weekly car rental gives drivers the option every week of either keeping the car they are already leasing or trading it in for another model. A monthly lease, rather than weekly lease, would limit switching cars to only once per month.

A weekly car rental can be the right choice for people in certain situations, such as those who are not able to afford a new car or have questionable credit history. Consumers may also want to lease a weekly automobile rental if on vacation and just need a car for transportation for a temporary stay. Whatever the situation, be sure to shop around for the best deal, since every rental car company will have different rates and various specials and discounts.