A global summer car hire study shows that peak season prices have fallen by 18% on average, with the average price of a week’s car hire now at €470 worldwide.
The study revealed that Australia, Germany, and Spain are the cheapest countries to hire a car, while Switzerland and France are the most expensive.
Car hire excess protection costs an average of €212 from the rental desk, which is over eight times more expensive than a stand-alone policy from providers like CarHireExcess.ie.
The study compared costs from six rental companies in 12 countries and found that car rental prices have decreased in most destinations, with Australia experiencing the biggest drop and the USA being the only country with an increase in rental costs.
Although the majority of rental prices have fallen, one area where customers are still faced with significant charges are the optional extras that are offered at the rental desk. Once ‘extras’ are added at the rental desk, including an extra driver (€75), a sat nav (€97) and a child’s seat (€76), costing €248 in total, the average price rises to €718 for a week’s hire.
Table of average rental company costs to hire a medium, compact car for a week in 2023 and 2024. Six rental companies’ costs were compared – Sixt, Hertz, Avis, Budget, Enterprise and Europcar.
Car hire excess protection, is usually the most expensive extra cost if bought from the rental company. These protect drivers from excess liability, which is the amount a driver is liable to pay if a hire car is stolen or damaged even if it is not the driver’s fault.
| Average price for a week’s rental hire / Country of hire | Average Car Rental Price* in 202329 July – 5 Aug 2023 | Average Car Rental Price in 2024 27 July – 3 Aug 2024 | Difference 2023/24 (Percentage Change) |
| USA (Florida) | €469 | €519 | + €50 (+11%) |
| Turkey (Dalaman) | €519 | €453 | – €66 (-13%) |
| Australia (Sydney) | €601 | €342 | – €259 (-43%) |
| Germany (Munich) | €403 | €363 | – €40 (-10%) |
| Croatia (Dubrovnik) | €483 | €394 | – €89 (-18%) |
| Greece (Crete) | €661 | €559 | – €102 (-15%) |
| Spain (Barcelona) | €504 | €368 | – €136 (-27%) |
| Switzerland (Geneva) | €827 | €601 | – €226 (-27%) |
| France (Nice) | €613 | €577 | – €36 (-6%) |
| Portugal (Faro) | €478 | €433 | – €45 (-9%) |
| Italy (Milan) | €740 | €542 | – €198 (-27%) |
| UK (London) | €616 | €484 | – €132 (-21%) |
| Average Cost | €576 | €470 | – €106 (-18%) |
The average cost of excess protection from the rental companies is over €200, eight times more expensive than a policy from a specialist insurance provider, like CarHireExcess.ie, which charges from €24.75* for a week’s European policy, which covers damage, theft, and tyres and windscreen cover. Annual European polices start from €48.99**. For those travellers who do not take out excess protection, this study reveals the average excess amount they could be liable to pay is around €1,725 on average. However, in Australia it is over €3,000 and in Switzerland and Italy over €2,000.
Christian Bennett at CarHireExcess.ie, said: “It’s great to see that car hire prices are coming down, and hiring a car is an excellent option for people wishing to explore their holiday destination. However, in some cases prices may come down further closer to the summer, so it is worth checking these again closer to your departure date and taking advantage of the free cancellation that most major car hire providers offer. Save further by bringing your own sat nav and child car seats and consider buying car hire excess insurance from an independent specialist, like CarHireExcess.ie.”
