Good Luck Getting Rental Cars This Summer

As you might have noticed, or heard from us, rental agencies have been hoovering up new and used vehicles to offset the 2020 selloff that stemmed from everyone mysteriously canceling their travel plans that year. Returning to normal, which is something anyone who didn’t assume the world was ending could have predicted, has resulted in increased pricing for vehicles — regardless of whether you’re renting or buying.

Rental companies typically try to play the vehicle market like the rest of use stocks or (if you’re hip) crypto. Buy low, sell high. But 2021 has created a perfect storm of increased demand coming after a long stretch of nothing and an auto industry that doesn’t seem to be capable of building cars thanks to all sorts of component shortages. But it’s no sweat for the big rental agencies because they’re now able to charge just about whatever they want. They’re keeping vehicles in their fleets longer, making more money off them, and selling them back at elevated prices.

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Rental Car Companies Reeling From Uptick in Travelers

Rental car companies are their own worst enemies, having sold off much of their fleets during the pandemic’s height. With travel restrictions easing in many places they find themselves with no inventory.

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  • David Murilee Martin, These Toyota Vans were absolute garbage. As the labor even basic service cost 400% as much as servicing a VW Vanagon or American minivan. A skilled Toyota tech would take about 2.5 hours just to change the air cleaner. Also they also broke often, as they overheated and warped the engine and boiled the automatic transmission...
  • Marcr My wife and I mostly work from home (or use public transit), the kid is grown, and we no longer do road trips of more than 150 miles or so. Our one car mostly gets used for local errands and the occasional airport pickup. The first non-Tesla, non-Mini, non-Fiat, non-Kia/Hyundai, non-GM (I do have my biases) small fun-to-drive hatchback EV with 200+ mile range, instrument display behind the wheel where it belongs and actual knobs for oft-used functions for under $35K will get our money. What we really want is a proper 21st century equivalent of the original Honda Civic. The Volvo EX30 is close and may end up being the compromise choice.
  • Mebgardner I test drove a 2023 2.5 Rav4 last year. I passed on it because it was a very noisy interior, and handled poorly on uneven pavement (filled potholes), which Tucson has many. Very little acoustic padding mean you talk loudly above 55 mph. The forums were also talking about how the roof leaks from not properly sealed roof rack holes, and door windows leaking into the lower door interior. I did not stick around to find out if all that was true. No talk about engine troubles though, this is new info to me.
  • Dave Holzman '08 Civic (stick) that I bought used 1/31/12 with 35k on the clock. Now at 159k.It runs as nicely as it did when I bought it. I love the feel of the car. The most expensive replacement was the AC compressor, I think, but something to do with the AC that went at 80k and cost $1300 to replace. It's had more stuff replaced than I expected, but not enough to make me want to ditch a car that I truly enjoy driving.
  • ToolGuy Let's review: I am a poor unsuccessful loser. Any car company which introduced an EV which I could afford would earn my contempt. Of course I would buy it, but I wouldn't respect them. 😉