If you need a car for one month or longer, you’re in the market for a long-term rental. One of your options is to hit up your local car rental company, but that can get expensive if you get charged per day. Read on to learn where to find cheap long-term car rentals.
Long-Term Rental from a Rental Company
Renting a car from a standard rental company for an extended length of time can be expensive. However, most car rentals discount their rates if you’re renting per month or week. Like car insurance, you can compare prices online by getting quotes from a few different rental companies. If you want to pay in advance, keep in mind that some car rentals don’t allow refunds or cancellations, so read the fine print. While this option might be more expensive than the others, the pros include driving a well-maintained vehicle and getting experienced customer service.
If you aren’t getting fair quotes from popular rental companies, get a quote from a discount car rental company instead. Research shows that bargain rental companies charge up to five dollars less than regular companies per day, which can add up to a lot of savings throughout the month.
Long-Term Car Rental from Turo
Turo is a peer-to-peer car rental service—basically the Airbnb of car rentals. Through Turo’s marketplace, car owners over 21 can rent out their vehicles to drivers looking for a car. Renters can use the car for a day and up to one year.
Drivers who use Turo say that the experience feels more causal than using a standard rental company, as there’s less paperwork, fine print, and bureaucracy. Turo also makes it easier for drivers under the age of 25 to rent a vehicle, and rental insurance options are available through the app if your insurance won’t cover you.
Renting through Turo can be cheaper than using a typical car rental company, but not always. It’s worth shopping around and looking at prices from multiple owners, as some drivers on the app offer discounts to long-term renters. In addition, Turo isn’t available in every zip code—it’s been banned in states like New York and heavily regulated in others. Lastly, the standard of the cars varies as Turo has less quality assurance than a typical rental.
Rent a Car with a Long-Term Lease Transfer
Another money-saving option for a long-term, temporary car is picking up an unwanted lease from another driver. A long-term lease transfer also called a lease takeover, is the process of transferring an auto lease from one driver to another. Websites such as Lease Trader and Swap-a-Lease connect drivers who need a car to leaseholders who want out of their agreements. You can find a range of leases for your set time range in addition to cheap prices from drivers looking to ditch their leases. In addition, the cars are usually well-maintained as they’re newer vehicles. However, picking up a lease can be a complicated process, so read the fine print to avoid gotcha clauses and other additional fees.
Renting a vehicle in the future? Learn if you’re covered under your current policy by contacting your insurance agent. If you’re looking for cheap auto insurance, you can find affordable coverage with a policy from The General. We have a range of different plans for every driver, including drivers with imperfect credit and driving records. Visit our car insurance blog to learn more or get an insurance quote in under two minutes to start saving.