By SALLY FRENCH of NerdWallet
Car rental costs are up nearly 50% since 2019, compared to just a 7% increase in hotel prices and a 16% increase in flight prices over the same period. High demand, a global semiconductor shortage and labor industry shortages contributed to the low supply of rental cars. Prices have actually dropped slightly since the high in July 2021, but they’re still far above pre-pandemic pricing. To save on your next rental car, consider renting from a location outside the airport and don’t prepay. Last-minute bookings are usually cheaper, and you can always rebook if the price drops after you reserve a car.