Car rental agency

Rental car prices are rising more than ever | KLBK | KAMC

LUBBOCK, Texas – In addition to many other things right now, renting a car is now more expensive than it has ever been.

Since the pandemic, renting a car has gone from around $50 a day, to now $100 and sometimes $150, depending on which car you need.

With the increase in the number of conventional rental cars, a business that operates like Airbnb and VRBO has actually seen phenomenal growth.

“Turo is the largest car-sharing marketplace in the world. We’re an app that allows car owners who have idle cars to share them on our marketplace with customers looking to access great cars at great prices,” said Turo Chief Marketing Officer Andrew Mok.

In Lubbock, some who have been in the business for a long time, such as David Miller, director of Budget Car Rental, have not seen such a high price.

“I’ve been doing this for 20 years and we’ve been renting cars for $50 a day for so long until you know, and cars have gone from $12,000 to $30,000,” he said.

While no one is entirely sure what to expect in the future, the likelihood of prices falling is unlikely.

Mok said: “We’ve heard from many travel experts that unfortunately the supply chain disruption doesn’t seem to be going away any time soon. Many experts say that the global chip shortage will not only extend until 2022, but also until 2023.”

The pros recommend that as soon as you know you might need a car, plan your trip early to ensure you get the best deal at that time.