Holidaymakers could save hundreds of pounds by cancelling and rebooking their rental car, after prices in popular holiday destinations suddenly plummeted.
Car hire prices surged earlier this year due to a rush of travellers booking trips, coupled with a lack of supply because rental firms sold off many of their vehicles during the pandemic.
In some locations, car rental costs had more than doubled since 2019, according to iCarhireinsurance.com, a provider of car hire excess insurance.
Driving down costs: Hannah Linder and family, inset, saved £316
However, prices are starting to fall in countries such as Spain, Italy and the US as car hire companies receive new car deliveries, boosting supply.
Flight cancellations and the cost-of-living crisis have also dampened demand, leading some rental companies to cut prices.
Broker Clarify Car Hire says that if you had booked a Hyundai i10 in June for a week’s holiday in Alicante later this month, you would have paid £262. But if…
