As the cost of airfare continues to skyrocket, many people are choosing to drive to their vacation destinations. However, depending on the condition of your car, you may want to consider renting a car for your vacation instead of driving your own vehicle. Weigh your travel options carefully and keep the following things in mind:
Even if you aren’t traveling a great distance by car, you’ll want to take the vehicle that gives you the best fuel economy possible – especially considering rising gas prices. If you currently drive an SUV or other large vehicle that gets low gas mileage, it may make sense for you rent a car with more reasonable fuel efficiency. Run the numbers before you leave on your trip – calculate how much you’ll spend based on current gas prices and the length of your trip in your car and in a rental car.
Breakdowns, towing and collisions
Vacations are supposed to be relaxing – you don’t want to deal with car trouble on your trip! If you drive an older vehicle – or one that is out of warranty – it’s important to think about what will happen if your car breaks down. Even if you already have roadside assistance coverage through your insurance provider, it won’t be much help if your car needs extensive repairs. Nothing ruins your vacation like trying to find an out-of-town mechanic for major auto repairs.
On other hand – if you decide to rent a car – towing and repairs will be covered by the rental agency. If you rent your car from a licensed automobile dealer, you’ll have access to mechanics at any dealership close to where your car broke down. If you’re involved in a collision with a rental car, you won’t have to deal with the stress of organizing repairs to your regular vehicle.
Base Cost
While renting a car offers a number of advantages, they also come with a fairly high price and additional fees. Aside from the basic rental fee, you’ll also have to pay for any extra miles you drive, as well as a renters insurance policy for the vehicle. Don’t put the rental car on your regular car insurance policy – it may result in higher rates the next time you renew. This can seem like a lot – especially when the only expense you incur driving your own car is for gas.
However, don’t let these extra expenses scare you away. We’ve already discussed how renting a more fuel efficient car and preventing wear and tear on your own car can save you money. It might also be worth it to rent a car if you’re near the end of the lease on your current car and don’t want to go over your mile limit. That’s why it’s so important to take all these different factors into account and choose the option that makes the most sense for you financially.
Today, the cost of gas and mechanical repairs makes it very difficult to choose whether or not to drive your own vehicle on vacation. If you can afford a rental car, you may find that the peace of mind you gain is worth the extra expense. That said, if you are confident that you can handle any automobile related emergencies that may come up, it might be to your benefit to use your own car while you are on vacation.