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Many poor souls crawl up to the string of rental booths in the airport at the end of a crushing flight.  They go to the one with the shortest line and take whatever is on offer. This is a guaranteed way of starting a nightmare experience!  So often the agreed rental price is a small fraction of the cost at the end! To get better deals, you need to do some prep work. If you do, getting the car will be smooth and easy and you will be on the road faster. Mind you, if you do it thoroughly once, you may just find the car rental agency of your dreams and then you don't have to do the work over and over again. So, here's how:
Step 1:

Check your insurance coverage. Determine what you are covered for in your own car insurance and what your credit cards will cover if you use them. If you are covered for rentals, just say "no" to the rental company's insurance. This will save you tons. Your insurance company can also give you useful information and may be able to recommend a good car rental company.

Step 2:

Check airline deals. Check if the airline you want to use has a partner car rental company. Find out the deals they offer. As an example, Singapore Airlines often offer discounted rates for their passengers for hotels and car rentals. It is worth checking. If you are using a travel agent, ask them about available airline/car rental hook-ups.

Step 3:

Look at your schedule and check when you must have the car. Do you need the car for a week or only for a few days? If you are in one city at the beginning, is a taxi better for a few days? Have you any idea what it costs to park a car downtown in big cities? Wow!  What is the approximate total distance you'll drive? ? Then, look at the rental companies' offer for daily or weekly rentals and any car mileage limits. A weekly rental is often a better deal. Check it out and avoid VERY painful surprises.  If you are only going to drive it to your hotel and sightseeing close by, there is no worry. But if you have to drive far, take the car with a full tank of gas and return it full. If you do, be on the lookout for a gas station as you get closer to your return so you can refill it. Sometimes, a rental from a downtown rental office is cheaper than the airport because of usage fees. Choose whatever suits your needs. Better to pay more than to get aggravated in a trip you want to enjoy.

Step 4:

Determine the size of car you will you need.  The differences in rental price and fuel use are massive. If you are driving on the autostrada/bahns/routes highway, you may want a bigger car, which of course will mean more fuel usage and will cost you more money. But then, if there are several of you and you need space, this is the way to go. But, if there is only you, a small car will cost you less. Be realistic. That big BMW in the car park seems a great option on a German highway. But you might just have to buy more carbon credit to offset your carbon footprint. In Europe, specify a diesel and drive stick shift if you can. It really makes a difference with fuel prices there.

Step 5:

Know the rates for the airport and for your arrival date. Find the least expensive airport and start/finish your tour in that city. Day of the week can also affect prices. There are significant differences not just between countries but between airports. This is especially true in Europe. As a hint...if you're going to Europe, compare prices between British airports and French ones! The difference is worth a change of plans especially if you plan to drive for your two-week holiday. It will save money for more enjoyable experiences in your trip.

Step 6:

Don't forget to get a total cost of rental estimate. You might be in for a surprise if you don't. Additionals can include drop-off fees, airport fees, fuel charges or insurance fees for additional drivers. Inquire if you have to drop off the car at the exact location. In England, you don't have to, which is a great bonus, as this will allow you time to visit many places.

Step 7:

Book rentals before you leave. Reserved rates are usually lower than walk-up rates. Pre-pay for the rental through your travel agent. Sometimes, they have great deals with the rental agencies based on volume and you can really score with low rates.

Step 8:

Check the location of the car rental agency. Often, an off-the-airport agency can save you money. But again, it might just be a hassle you don't need on your trip. Check if there is a transport link. A taxi ride may just offset all the savings.

When you arrive at your car rental agency, get exactly what you asked for. Companies usually give a free upgrade when they can't get what you want. If it is a bigger car and you might use more gas, negotiate. When you find a company you appreciate, stick to them.  Frequent renters usually get the perks. And, most importantly, with rental company's employees, check the car carefully for dents and scratches before leaving the lot and make sure it is properly noted in all copies of the agreement.
Quick Tips:
Check the Internet. Many websites do comparative rates for car rentals.
If you and your travel agent haven't heard of the car rental agency, be careful.