Everybody experiences this at some point in time, wondering if only there were cheap truck rentals.
Things wouldn’t have gone south, and all the people would be a lot more comfortable in a truck than in a Car.
The popularity of rental vehicles has gone up by 17-25% in the last five years.
What Are Automobile rentals?
An automobile rental is a company that rents Automobiles like Trucks, cars, bikes to the public for a few days to months.
Automobile rentals or vehicle renting agencies are often located near public transportation services like Railway stations, airports, bus bay, etc. Anyone can use a user-friendly application or website to reserve their preferred vehicle. In addition, automobile rentals have many branches, making it easier for people to return the car to their nearest branch.
Automobile rentals are primarily aimed at people who don’t own a vehicle or those out of town and need a vehicle. Automobile rentals also rent trucks and vans, which most people don’t possess and may only use few times a year.
Automobile rentals come with top features such as a global positioning system, child safety features, insurance, and much more.
History of Vehicle Rentals
The history of renting cars dates back to 1906. Still, an agency dedicated to renting automobiles was seen in 1912 in Germany under the name Sixt Autofahrten und Selbstfahrer.
The Business Model of Automobile Rentals
Automobile rental companies work by purchasing or leasing several automobiles and then renting them to the customers based on miles and hours. Some companies charge a bit more if they include insurance.
Usually, car companies don’t lease the fleet vehicles because it’s a risk car companies don’t want to take; car manufacturing companies usually lease if the rental agency agrees in guarantee buy after lease period (usually 10-15 years)
Rental Terms and Conditions
Many conditions vary from country to country and from 1 rental company to another. Generally, the car should be returned in the selected time and should not exceed the mileage given. There should be no damage. Otherwise, an extra fee may be incurred.
For insurance claim reasons, automobile rentals stipulate a minimum / maximum age, usually above 23. Even in countries where the minimum age to hold a driver’s license can be as low as 15. A surcharge will be applied to drivers who are aged below 25
It goes without saying that a valid Driver’s license and, in some cases, the International Driving Permit is required to rent a vehicle.
Insurance Policy
Automobile Agencies are required to provide minimum liability coverage; this covers the third party in case of an accident or property damage. Should you not provide your own insurance, most companies charge a premium for insurance coverage.
Most Automobile rentals offer various kinds of supplement insurances or damages, weavers, at an additional cost, these usually cover.
Loss damage waiver (LDW) – LDW typically covered 100% of the vehicle cost Incase of an accident without deducting any extra fee.
Collision damage waiver (CDW) – as the name suggests, covers the cost of Damages caused by a moving accident and will not cover damages caused by non-collision accidents.
Supplemental Liability Insurance (SLI)- SLI covers for the injuries or property damages done to a third party other than the renter and passenger
Personal Accident Insurance (PAI)- It covers the Injuries (medical cost) and accidental death of the renter and passengers.
Saver a car is Australia’s leading Automobile rental agencies, which not only rents out card but also 14 seaters, Minivans, trucks, cars, premium SUV, Sedans, Hatchbacks, and their customer support is world-class dedicated to helping customers in problem and the most important thing is they’re affordable and will not put a massive hole in your wallet.
Advantages of Automobile Rentals
Automobile rental, especially vans, heavy vehicles are cheap to rent compared to buying them.
Nowadays, cheap truck rentals are becoming more and more popular. Service providers are also good at providing a wide range of vehicles which suits every need.
Now that everyone knows how the Automobile rental industry works and the type of insurance, one can choose the best rental agency for their next adventure.
