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Going rental: Car finance costs abroad soar as consumers get hit hard by rental charges
If financing a holiday wasn't enough to bear in the current economic climate, it seems rental companies are making things even more of a challenge by raising the costs of renting a car this Summer.“
It seems that the bad news for consumers hasn't stopped yet either. It is no lie that the costs of renting a car have soared recently for consumers who are sunning themselves abroad, but there are other hurdles that consumers have been tackling recently.
One of the examples of this is the supply of cars that are available for consumers to use when they arrive to their destination. It has been revealed that some car rental companies are beginning to buckle under the demand that they are experiencing for their fleet.
This has been seen to be the principle cause of price hikes, as rental companies have been increasing the prices of their cars due to demand instead of investing in more cars for their fleet.
Resultantly, if you are lucky enough to finance a rental car for your holidays, getting the type of car that you require is even more of a challenge it seems. Realistically speaking, bad credit car finance is hard to come by.
There are currently some cries for rental companies to take the initiative to replenish their fleets if they have the demand to justify the move. Additional cars to fleets could be seen to be beneficial to every one – more choice for consumers and more business for troubled car manufacturers who are struggling to keep their workforce busy due to the plummeting demand for new vehicles.
One spokesman for an international car-rental company said this: "While supply may be tight now, we think we can meet market demands."
The boost in business that rental companies are enjoying currently is understood to be as more people seek the use of a car to travel to their holidays, over the use of costly flights. This comes as rental companies have experienced a boost in the amount of transactions they have completed in their non-airport branches.
Meanwhile, advice to consumers who want to invest in a car to rent over the holiday period is rife: book in advance.
Some experts have urged discerning consumers to use their initiative and use tools on the Internet to compare the costs of renting a car in advance and from there to find the best deal for them, being sure to book the service they choose as soon as possible.
It has been reported that many people have got to their destinations only to find that there are no cars available for their stay.
Many consumers have found that car finance is a lot easier when it comes to renting a car. In this time of recession, more and more people are trying to find the most efficient ways to have a brilliant time on holiday for as little cost as possible. It is hoped that the car-rental industry could be the catalyst in allowing people to do this – with some even offering discounts for those who book in advance.
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