The cheapest time to book a hire car, revealed!

When it comes to booking your rental car, is it best to book early or leave it late? It’s an age-old question for our customers, so we did some digging into our data and can now reveal that the cheapest time to book your hire car is around two weeks before you travel.

Our data, which compared booking times and prices across a 18-month period in thousands of destinations across the globe, shows that, more often than not, it’s best to leave it later.

There are a few caveats to bear in mind. Most importantly, don’t book exactly 14 days before your required pick-up date. Last-minute demand tends to surge exactly two weeks out, which drives up prices on that day.

You’ll also need to be flexible with travel times and not too set on a specific model of car to get the cheapest deals.

Ed Sharp, Head of Car Hire here at TravelSupermarket, says that the good news is that car hire prices are fairly predictable.

“The key is understanding that car hire pricing follows predictable patterns, and smart travellers can use this knowledge to their advantage,” he says.

“Car hire prices aren't swinging as wildly as they did post-pandemic, so there's less pressure to jump early.”

In general, at non-peak times when there is good availability, prices can get cheaper the closer you get to the start date of the rental. However, if you leave it too late you can miss out.

“I'd recommend using a deal with free cancellation – book something you're happy with, then check back for drops as your trip approaches,” Ed advises.

When is the cheapest time to book car hire?

The cheapest time to book car hire is around two weeks before your pick-up date, when average prices are £46.75 a day. That’s 13% cheaper than the yearly average of £53.74.

When is the most expensive time to book car hire?

Early bookers are in for a costly error. Booking a full year ahead of travel almost doubles the daily price, at £93.12. Prices also surge exactly 14 days before pick-up due to a spike in demand on this exact day.

Ultra last-minute bookings carry a premium too, with day-before bookings costing around 15% more than average.

Does this apply all year round?

The Christmas period (20 December - 5 January) is the most expensive time to hire a car in general, with prices soaring 60% above the yearly average.

In contrast, October half term offers the best value for families, with car hire prices 16% below average – making it an ideal time for budget-conscious parents to plan their autumn getaways.

Those travelling without children, and aren’t bound by fixed travel dates, can therefore afford to leave it late in the hope that a good deal arises. Our data shows that prices tend to steadily decline from two months to two weeks until the departure date – but you’ll have to have nerves of steel!

We’re travelling as a family – should we really leave it late to nab a bargain?

Booking at the last minute can save money, but it also limits choice. Families after a specific car type in peak periods when demand is higher, for example, are better off booking in advance.

A lot of companies offer early booking promotions in January so this is a good time to secure availability of special vehicles such as people carriers and MPVs. Leaving it later can be a risky tactic, especially if you want that big, roomy people carrier to schlepp the kids around Orlando during the February half term.

Is booking late for me?

If you’re flexible with your dates, your top motivation is nabbing a deal and you’re not daunted by an element of risk, then leaving it late could work out cheapest for you. If you’re after a certain car or are travelling in peak times, it’s better to book in advance.

For the summer period, booking as much as five months in advance – but no earlier – is the sweet spot for good prices, range of vehicles and choice of rental company.

It’s also worth noting that price isn’t the only thing you should be concerned about when choosing car hire. Fuel policy, mileage limits and the terms and conditions of the individual deals all play a significant factor – and can push the overall price up significantly if you get them wrong.

What’s more, you should never leave booking until you arrive at the airport. If you just turn up on the day without a reservation you’ll pay a higher price – in some cases, it could be over double.