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HomePoints and MilesHow to Save Money on Rental Cars: A Comprehensive Guide for 2022

How to Save Money on Rental Cars: A Comprehensive Guide for 2022

Here are ways you can save on rental car costs.

Advertiser Disclosure: Most products in our articles are from partners who may provide us with compensation. However, opinions expressed here are author's alone, not those of any bank, credit card issuer, airline or hotel chain.

By now, you probably know the story. COVID strikes in 2020, travel numbers plummet to near zero and rental car companies are forced to sell off their inventory in attempts to avoid bankruptcy. But when travel resumed, computer chip shortages and other supply chain issues prevented them from replacing their cars fast enough to meet surging demand. And the real bad news is that this so-called rental car apocalypse isn’t over yet. 

Reserving a rental car used to be an afterthought, but in 2022 finding an affordable car has to be one of the first and most important aspects of your travel planning. This year, I’ve spent far more time and effort than ever before figuring out ways to find reasonably priced rental cars. But thankfully, I’ve found numerous ways to make sure that I always have an affordable car when I need one. 

How to Find Rental Car Discount Codes

Turo rental car on road
Turo

If you wanted a drink in the 1920s, you had to know which door in town to knock on, and what the secret code was to enter a speakeasy. One hundred years later, you kind of need to do the same thing to find an affordable rental car. When you enter the right discount code into the rental car company’s website, the rate you receive can be quite reasonable. But without a code, the prices quoted can be downright scary. 

So what are these codes, and how do you get one? Rental car companies negotiate discounts with various organizations, including governments, corporations, schools, clubs and other associations. These organizations are then assigned a code to use to obtain the discounted rate when reserving a car online.

Some examples of where you can find rental car discount codes:

  • Employer: if you work for a major corporation, or even a relatively small company that has a lot of employee travel, then it’s likely that they have a discount code with one or more of the major rental car companies (there are about 10 in the United States). To get the discount code, you can speak to your company’s travel department, or just ask a coworker who travels frequently.  
  • Membership in an Association: You might also have a code associated with a company or group that you’re a part of, ranging from AAA, AARP and Costco to any sports or hobby association that you belong to. Also check the alumni association if you attended college.
  • Travel Loyalty Programs: Look for codes offered by your favorite airline frequent flyer program or hotel loyalty program, which are essentially available for anyone to use.
  • Credit Cards: Finally, look for codes available for Visa Signature and Visa Infinite cardholders, Mastercard World and World Elite cardholders as well as holders of the Platinum Card® from American Express. 

I’m also a huge fan of the American Express Platinum Card benefit at Hertz that gives you an extra four hours grace period. It always seems that my departing flight leaves just a few hours later in the day than my arriving flight, which would otherwise require me to pay for an additional day that I hardly used (this code can be used with other Hertz codes). Find as many codes as you can, and try each one of them until you come across one that works best for your travel needs. Also consider using a code that might be available to your spouse, domestic partner or any other companion traveling with you. 


The Platinum Card® from American Express

Offer Details

Secure application on issuer’s website.

Annual Fee: $695
Welcome Bonus: 100,000 Membership Rewards Points
APR: Variable APR
Rewards Rate: 1-5X Points
Details: Full Review

Terms and restrictions apply

Offer Terms

Annual Fee: $695

APR: The card charges a variable APR on balances, depending on your credit worthiness.

Rewards Rate: This card awards 5X points per dollar on flights booked directly with airlines or through amextravel.com up to $500,000 a year and prepaid hotels also booked via amextravel.com. You’ll also earn 1X point on all other eligible purchases.

Welcome Bonus: New cardholders can earn 100,000 Membership Rewards Points after spending $6,000 with the card during their first six months of card membership.

Who Should Use This Credit Card? People who travel frequently will be able to make the most use of this premium credit cards multiple perks and statement credits.

Why We Like It

Why We Like the American Express Platinum Card®
The American Express Platinum Card is a cornucopia of perks and annual credits that reminds one of a fancy coupon book. Each year, cardholders have a variety of credits to look forward to including a $200 hotel credit, $240 digital entertainment credit, $155 Walmart+ credit, $200 airline fee credit, $200 in Uber Cash, and more.

Like other premium credit cards, households that are able to use all of these statement credits and benefits will easily offset the cost of hefty annual fees. But people who have no use for Equinox or Saks Fifth Avenue rebates will most likely find the Platinum Card’s annual fee out of reach.

Still, this credit card is extremely popular among rewards credit card enthusiasts, and it’s easy to see why. Not only does it offer new cardholders a generous welcome bonus, but the perks alone could add up to eclipse the annual fee — but only if you already use services like Walmart+ and Uber enough to warrant the expense of a luxury card. Otherwise, you may end up spending $150, just to save $10.

The American Express Platinum Card has long been a symbol of extravagance and affluence. And with its precious annual fee, it’s easy to see why. Yet, this premium credit card is more than just wallet candy — it offers cardholders a diverse lineup of statement credits and benefits that may negate the yearly cost for many people.

Each year, Platinum Card members look forward to a collection of rebates, including:

  • $200 hotel credit: Prepaid bookings with select hotels
  • $200 airline fee credit: Benefit can be applied to one selected airline
  • $240 digital entertainment credit: $20 benefit per month
  • $155 Walmart+ credit: Benefit covers monthly membership cost
  • $200 Uber Cash: Receive $15 monthly benefit for rideshares and meal delivery
  • $300 Equinox credit: $25 benefit each month
  • $100 Saks Fifth Avenue credit: $50 benefit between January and June and then again between July through December
  • $179 CLEAR credit: Benefit applies to annual membership

Some of these benefits will more exciting than others, depending on the merchants and services you already use. Still, cardholders who can take full advantage of what the Platinum Card offers will find outsized value for its yearly fee.

Keep in mind, with any credit card benefit, terms and conditions apply. Read our full review of the Platinum Card.


A Word of Caution About Rental Car Codes

using Avis app
Avis

Search the internet for rental car codes long enough, and you’ll come across lists of codes meant for various companies and organizations that you aren’t a part of. In most cases, no one will ever ask you to prove that you are part of those organizations, especially if you rent at an airport in the United States and you’re part of the rental car company’s frequent renter program that allows you to skip the counter. 

But if you rent at an in-town location, in a foreign country or in any other place that requires you to visit the counter, then you risk being asked to show proof that you qualify for use of that code.  Avis in particular has been cracking down on the use of codes not meant for renters. Use your best judgment and only do what you’re comfortable with. 

Get Elite Status

Hertz rental car
Hertz

Not only is it very easy to get elite status with a rental car company, it’s also incredibly valuable. Having elite status allows you to skip the counter at most locations and go directly to your car. Many rental car companies now allow their elites to select their own car, while enjoying discounts, car upgrades and credit towards rental award days.  

You could earn elite status the old fashion way, by renting often, or you can just receive it based on the credit cards you have. For example, the American Express Platinum Card offers elite status at National, Avis, and Hertz.

And once you have status with one company, you can easily request a status match at the equivalent level with another company. For example, I was easily able to match my Hertz President’s Club status to National’s top-tier Executive Elite status, which I prefer. 


Other Ways to Minimize Rental Car Costs

iStock

Once you’ve found the best rental car discount codes and obtained the highest levels of elite status, you should book your car as early as possible. However, you might still find your rental car to be a bit expensive. This is when it makes sense to minimize your need for a rental car. 

For example, here are ways you can minimize rental car costs:

  • Take advantage of free hotel shuttles: Staying at an airport hotel with a free shuttle on your first and/or last nights can easily help you avoid an extra day’s worth of charges.
  • Use rideshare or public transportation: Using shared ride services or public transit can also help you subtract a day or two. And when you can rent a car at an in-town location, you can often avoid many of the fees added to airport rentals.
  • Look for convenient stays: If you can stay downtown, or at a full-service resort for at least part of your trip, then you might find a few Uber or Lyft rides to be much more affordable and convenient than renting a car. 

Rental Car Alternatives

meeting Turo host for rental car
Turo

If you’ve tried all of these strategies, and are still unable to find an affordable car rental, then it’s time to look beyond typical rental car agencies. One option is to rent a car from a dealer. In particular, many Subaru, Toyota and Nissan dealers offer affordable car rentals, but it can’t hurt to ask any dealer. The biggest problem is their limited hours and the need to get a ride to and from the dealer. 

There are also car sharing services like Turo to consider. The advantage is that you know exactly which car you’ll get, and it can be affordable. But you also have to consider that the service and the car is only as reliable as its owner, who is someone you’ve never met. I’ve also found the cost of Turo rentals and insurance (which have never been covered by my credit cards) to be not as attractive as I’d hoped.

Bottom Line

I believe that rental car prices will eventually return to normal, but it isn’t likely to happen anytime soon. In the meantime, you need to use every available resource to minimize your rental car costs. By taking advantage of these strategies, I’ve been able to enjoy some pretty nice affordable cars lately, even while so many travelers have been confounded by soaring prices.

Featured photo courtesy of Hertz

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Jason Steele
Jason Steele
Jason Steele is a journalist who specializes in covering credit cards, award travel and other areas of personal finance. As one of the nation’s leading experts in the credit card industry, Jason’s work has been featured at mainstream outlets such as Yahoo! Finance, MSN Money and Business Insider.