It is often hard to be completely objective and determine the rental price for your car just as it should be. We tend to think about how expensive the repairs are, how much time and effort we have invested in it, how much it costs us, how much we spend on insurance, road tax, maintenance etc.
Even more important than making stunning car photos (but don’t get me wrong, they are extremely important) is to determine the right price for your car. Very simple advice would be – please set a lower price for the first rentals and then you can increase it when you have your first rentals, feedback, 5 star ratings and good response time.
Below are factors that influence the rental price of your car
Age of the car
The older the car, the lower the price. Time flies, so sometimes we forget that our car has just turned 10 or 15 years old. Every 5 years the price of car decreases significantly in car rentals. Cars that are less than 5 years old have a higher price, and it won’t differ so much because their age won’t be the decisive aspect. 5 to 10 years old cars have a lower price, and, in case they cost the same or even more than a 5 year old car, they won’t be rented out because renters can get a newer car for the same price.
When cars are older than 10 years, the price are even lower, yet the fuel efficiency, engine and car type become more important. If the vehicle is older than 30 years and has reached retro status, the price starts to increase again, especially during the summer when there is a demand for such cars for weddings and other events.
Fuel consumption and engine type
Since the price of fuel is still relatively high, another important thing is fuel consumption. If the renters can save on fuel by renting a slightly more expensive car, they will usually choose the car with lower fuel consumption, so lower fuel consumption might allow you to increase the price. Also, the engine type is important. Diesel engines are favored more than petrol engines, and cars running on LPG are even more complicated because some people avoid these cars, although they can reduce fuel expenses even more.
Minivans, vans, Toyota land cruiser, extended land cruiser and similar cars can have a higher price than regular cars.
Car brand and model
The brand and the model are also important. Although most cars are not affected by it, the opinions about some brands can influence the car price.
Renters tend to be willing to pay more for German cars since they are believed to be more reliable, while Russian cars, as well as sometimes French and Korean cars are not always seen as trustworthy, so they might require a lower price. However, opinions differ, and each brand has its loyal users and also those who won’t drive it no matter what.
Time of the year
Car rental is a seasonal business, since the demand for rental cars surges in April and shrinks in September. If you increased the price during spring and summer, don’t forget to lower it once autumn comes.
Many things are determined by marketing. If you want your car to be rented out, the car must look great in the photos.
The competition in a certain area might also influence the price of the car. Since there are more cars available in Riga, the prices might be slightly lower because the renters will be able to choose from a wider variety of cars and find cheaper options. But keep in mind that the income level is higher in Riga, so even if the competition in your city is much lower, you need to set a reasonable price that the renters will be able to afford.
Insurance and other extras
You can set a higher price if the car has any extras, list them in the car description. Extras usually don’t affect the price of the car, but they might help the renter to decide that your car is the right one for him.
Number of People Traveling
All travelers need to acknowledge that the number of people you are planning to travel with greatly affect the price of your car rental. Therefore, take the courtesy to search for a car that can suit your members on the trip including their luggage and delight in the safe or comfortable tour. If you are a family or group traveler, then automatically you need a larger car like a safari van or minibus and this will be ideal for a wonderful adventure this season. Whilst, if you are solo planning a leisure trip, then you have to think about renting a small-sized vehicle like Toyota Rav4. It’s important to note that the bigger the car, the higher the price and vise-versa.
Take note that there are many car rental companies available online ready to offer you a guided road trip or self-drive adventure and all these pride in offering a unique car hire service at the best rate. At times what helps you to choose a trustworthy company is the good reviews from past customers?
Making your car reservation early helps you choose your favorite rental car at the most affordable price, it also saves you from last-minute panic or inconveniences like highly-priced Tanzania car rental packages because you need the car so urgently. We advise travelers to always book their car rental at least 1-3 months prior to the dates of travel and this gives you chance to save some dollars by getting on a cheaper car rental deal.
Once you choose a rental company for your car hire in Tanzania online, proceed to make a booking online but get a rental deal with a cancellation policy, this gives you room to keep searching or shopping for other cheaper options online, once you find a better one, you can choose to cancel and re-book with another company at the most favorable rate.
We hope the above factors help you make the right choices when you decide to rent a car in Tanzania for self-drive or driver-guided trip. To book or inquire about the availability of any rental car in Tanzania, simply get in touch with us by sending an email to Car Rental Tanzania.