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Mid-May jump in rental car rates. Does anyone know why?

Discussion in 'Getting There & Getting Around' started by HallOfPromise, Apr 9, 2013.

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  1. HallOfPromise

    HallOfPromise Low-Roller

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    Hope someone can answer this for me. I know there are wise minds among you.

    My girlfriend and I are hitting up Vegas May 13th thru 16th and we're renting a car for the trip. I've taken over the duty of checking rental car rates and have been doing so for the past month, checking just about every other day to try to book the lowest rate. I noticed about March that the rates were falling pretty steadily, about a few dollars every week. The rates went as low as $8/day for a compact car. I'm only looking at companies within the airport rental car facility.

    Well.... as of this week rates have jumped. The increasing rates started with the big names first followed by the smaller companies as of today. Now the lowest rate is $19/day for compact. Other car sizes across the board have also jumped, respectively. Luckily, I already booked my rental at the lowest rate.

    Now I assume rates fall when demand is low and rates increase when demand is high. My question is: Does anyone know if there is some sort of event happening in Vegas to possibly increase demand and rates during this week?
     
  2. leo21

    leo21 VIP Whale

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    This May there is a major event or convention almost every week. Even with no events, it's a popular month due to the good weather.
     
  3. Tammy58

    Tammy58 Frugal Slot Jockey

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    We have a rental for May 13-20. Rates have been all over the place. I only check Dollar and Alamo, rates a few months ago for my dates were running $400+ now that's HIGH. Booked Dollar for $227, last week cancelled and rebooked Dollar for $194. All along I have been looking for a full size due to the fact that there are 4 of us with full size luggage. Alamo went down to app Dollars rates and in the past week have sky rocketed. Car rentals just like airfare and hotels is a numbers game...supply and demand. Due to conventions, Victoria Day (Canada) the fact that May is super popular...rates will totally fluctuate. Grab what you are willing to pay...check rates everyday and pray.

    BTW prices stated above include all fees/taxes.
     
  4. atom

    atom High-Roller

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    My experience has been that prices on rentals are often best about 6 weeks ahead. Then they tend to go up, and if you're lucky (due to low demand) they might drop again sometime in the final week. It just pays to keep checking and rebook whenever the price drops (refundable bookings of course).
     
  5. popcornoholic

    popcornoholic Low-Roller

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    Maybe as it's getting closer to the dates, more people are booking their rental cars. I had a mid size suv booked with Alamo for $195 then last week I was able to get a little better price of $164 for a full size car. ( I wanted something a little smaller). Doesn't look like I'm going to get anything much cheaper and we need something a little bigger b/c of having golf clubs.
     
  6. HallOfPromise

    HallOfPromise Low-Roller

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    The strange thing is last year when looking at the rates they seemed to get lower as our trip arrived. It was about the same time last year in May. It was our first time renting in Vegas so there isn't much of a track record, but this recent jump in rates just has me worried. Mostly worried about how busy it's going to be in the area and at our hotel (hoping for a good outcome with the $20 trick).

    Last year (during Memorial Day weekend) we arrived and all of the compact cars, which we booked, were sent out and they upgraded us to a Mustang for free, well I guess they had to for free lol. Mustangs were all they had left. Anyway, maybe we can get a free upgrade again. The Mustang was fun but didn't leave much room for our luggage. Here's hoping for maybe a full size!

    Edit:
    Well I just looked at the rates again and it looks like they are adjusting rates constantly... even changing rates within the same day. It also looks like they are going with lower rates if you attach a weekend, which is typical but wasn't the case a few weeks ago. I'm guessing there must be some sort of convention or something business related. If that's the case I hope they are not at the Sands Expo Center! They seem to ruin the fun with their name tags and business/casual attire. I don't think Vegas when I see office/business related stuff!
     
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