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Mark founded MoneyMaxim in 2008, with the aim of delivering an impartial and independent service. Mark is a regular money saving expert in the press and writes regular news and articles for the MoneyMaxim news pages sharing his views on banking, personal insurance and the utilities (gas, electricity, mobile and home phones, broadband and pay TV) market with customers.
UK drivers looking to rent a car during the Summer are facing a double whammy as the two of the most popular rental countries for us Brits could see demand outstripping supply in the coming months.
Whilst the UK is likely to see demand reach unprecidented levels during the Olympics Spain is facing a shortage of availability following the demise of the countries largest car hire companies.
In the UK rented vehicles are not only going to needed by the huge influx of Games visitors coinciding with the peak holiday period, but there will be massive demand from the army of backroom staff, competitors and those just here to help with the logistics of such a major event. Many visiting the Games themselves will also extend their stay a few days after the event to see more of the UK extending the demand.
There will also be demand from those in the UK visiting the Games – and Mark Bower, Managing Director of MoneyMaxim, who offers the UKs most comprehensive car hire comparison service (comparing up to 50 Car rental firms and 10 Car Hire Excess Insurers) made the following suggestions for those planning to rent a car to travel to the venues.
"We would suggest that spectators consider one way car hire – basically using the car just to travel and from their destination. As car rental costs are likely to be higher during the summer this will save the expense of having the vehicle sat in the hotel car park for a week or so. To assist we have developed a special area of our site which details the most convenient car rental stations for most the main Games sites visit our car hire comparison service – and our customer service team are here to help with any special requirements.”
"We also would highly recommend booking now – we are already seeing car rental firms noting a shortage of particular classes of vehicles and increase their prices – and feel its inevitable that this trend will continue.”
"Finally avoid at all costs the expensive car hire excess insurance the car rental firms offer – this can double the cost of renting a vehicle, whilst we offer alternative policies from just £14 a week!”
Another destination where rental costs could soar is Spain – where the closure of one of the countries largest car rental firms AurigaCrown could mean there are up to 18,000 fewer cars available over the peak holiday period resulting in rental costs rising sharply.
Car rental firms have been rearranging bookings to avoid using the company but now that has been achieved it is anticipated that bookings, particularly of popular models, could outstrip supply over the Summer.
Bower commented "The message here is get in now to secure your car before the rush starts – a couple of years ago we saw customers paying well over the odds for car rental as the credit crunch reduced fleet sizes considerably. The closure of AurigaCrown could have a similar impact. It not only means paying more but also can mean that you are forced to rent a vehicle that is much larger or much smaller than you would ideally like.”
"At present we are offering car rental in key Spanish destinations from under £15 a day*, and its difficult to see these prices falling much if at all as we get closer to the Summer, so to get both a great deal and peace of mind we would highly recommend booking now.”