Knowing when is the best time to book a car hire, in other words, when it is the cheapest, depends a lot on your travel destination and the period of the year. We have done some research based on our internal data, and we got some answers. Follow the guide.
When is the best time to book car hire?
One of the main questions people ask when trying to find the best deal on hiring a car is about the best time to book. Is it better to book weeks in advance or does it not make a huge difference? When do car hire prices drop? These are all important things to wonder, and the answers may surprise you.
If your road trip dates are already set in stone, you can still save money by knowing when the cheapest time to book your car is. According to the following data collected by KAYAK, the answer will most likely be to book your car 1 month in advance, or less.
The following chart shows the average daily cost of hiring a car by month of travel, comparing bookings made 1 month in advance vs. 6+ months in advance, where the values below each bar indicate the potential savings from booking later rather than earlier.
Key takeaways of our data analysis
January, is the cheapest month of the year to hire a car, with an average daily rate of £23 if you book 1 month ahead. If you want warmer temperatures, I recommend you to travel in May (£33/day) or September (£30/day).
Booking 1 month in advance is consistently cheaper than booking 6+ months ahead, saving up to £31 per day in February.
Top 3 tips to save on car hire
Why prices fluctuate
The first thing to keep in mind is that rental car prices change a lot, and there are a number of factors that determine the price on any given day. Prices can fluctuate because of the season, a particular holiday, the car category, the car hire company, and timing (just to name a few).
In general, car hire companies want to rent out as many cars as possible, just like hotels want to rent out as many rooms as possible. They’ll price cars competitively to increase demand, but when demand is high, they may raise prices to capitalise on it.
Keep in mind that the base price is the most likely thing to change. All of the additional elements of the car hire, from young driver fees to baby seats to ski racks, will stay the same price regardless of the timing. This background information will help explain how far in advance you should book your hire car.
When it’s best to book in advance
If you know you’ll be hiring a car during a busy period and will need a minibus, a large van, or extra amenities, you should start your search early. Even if prices six months before travel are higher than those available closer to the departure date, if you wait too long you might end up not finding the vehicle you need — or only at a very high rate.
The best strategy is to shop around and compare online before committing to any single deal. Once you’re familiar with the price range for your itinerary, decide on a target price or the highest price you’d be willing to pay. When you find a deal that you’re happy with, just book it. It’s better to have booked a car for a reasonable price than wait until the very last minute and risk missing out on an equally good deal, or learning the rental company ran out of vehicles.
When “last minute” is the best time to hire a car
If you know you’ll be hiring during a less busy period or you’re flexible with your dates, it can be best to book closer to your rental date. If you’re travelling alone, with your partner, or in a small group and you don’t have any special requirements, you can leave it a little late.
Common car types are the most available, so prices may not change that much. With that said, prices may rise during the final 48 hours so don’t leave it until the very last minute! One last thing to look out for when booking late is seasonal promotions that are emailed to subscribers.
