Kevin McCormally: I am Kevin McCormally of Kiplinger's and I am with Mark Solheim the auto editor of Kiplinger's Personal Finance magazine to talk about how to get a good deal when you run a car. Mark, it seems like rent-a-car prices are all over the lot. How do you make sure you get a good deal?
Mark Solheim: Kevin both, early and often the nice thing about locking in a car rental rate is you don't have to pay upfront. So if you find a better rate later you can simply cancel.
Kevin McCormally: Okay so how do I find the best rate?
Mark Solheim: Well start with the internet. I have started with the general travel sites like Expedia or Travelocity and see what kind of rates they are charging. And once you find a car company into the destination you are going to with the a good low rate then go over to the car company rate and see if they are charging in even better rate.
Kevin McCormally: So the herd’s charges might actually come in less than the Travelocity charges?
Mark Solheim: Okay, you might have an internet special to the city you are going to.
Kevin McCormally: Okay, so you book early and then a week before the trip you want to go back to all of this hapless shopping again?
Mark Solheim: Yeah, it's a worth going to the same motions, because car rental companies change their rates all the time up to 10 or 20 times a day. So if they have a greater supply then they thought you might get a better rate.
Kevin McCormally: Okay, what about price time? Does that come into play for some people?
Mark Solheim: Sure one strategy is to go to www.hotwire.com about a week or so before your trip and see what kind of rates they are charging. Then go to www.priceline.com and bid even lower than the hotwire rate and you might get it.
Kevin McCormally: So if you got a lower rate you can just cancel the reservation you have made with a herd or whoever.
Mark Solheim: Exactly! Cancel your reservation. Lock in a new one and you've got more money.
Kevin McCormally: Okay, thank you Mark.
Transcription by:
Scribe4you Transcription Services