The trip was 589 miles, and paid 55cents per mile, so that’s 323.95 in my pocket. I get around 20mpg at around $3.15/gallon, so that’s $92.77 for gas alone. Will depreciation, maintenance, insurance, etc chew up the extra $231.18?

Seems like I’m almost always better off taking my own car and taking the mileage allowance.

You should also bring a piece of paper to the dealership and make sure you do all the math of the finance calculations yourself. The point is not that they will do the math wrong. The point is you will see exactly how the deal is structured. Do not be afraid to take the time to do this or look like a fool for mapping out your car deal in the dealership.

My dad swears by this process, http://tinyurl.com/knflt6

Anyway

1/Vehicle CANNOT be taken out of state…fine print in contract states vehicle is UN-INSURED if done so.

2/If you ignore and still go out of state you incur a $1 or higher mileage charge…this is enforced by the hidden onboard GPS that tells them when, where,how fast and how many miles…again in fine print.

3/GPS is ALWAYS checked when returning the vehicle because there is also a clause in the mice type that if you exceed the speed limit on any road by a certain amount you are assessed a Penalty. Usually around $150 per occurrance.

4/Sometimes there is also a clause that says if the car is stolen through your negligence…like leaving the key in the ingnition…the theft insurance is void and you agree personally to indemnify them for the car.

5/If you as driver or any other driver is arrested for whatever reason the contract is immediately void and the police know to call the rental agency to come get the car or the tow truck company is told not to release it to you if you try to pick it up…even if the contract dates are still in force..end of discussion, no appeal, and the tow bill and a hefty (usually $250) “recovery fee” for them going to pick it up is charged to your credit card.

The Mice Type is very long on car rental contracts but you need to really annoy the clerk by taking the 30 minutes or so it will take to read it.

All the mice type is how they generate enough money to stay in business.

The rental fee is a loss leader to get you to rent the car…then they lay all the other hidden fees and late surprises on you.

Especially for those of us which like to keep a car for a decade to drive locally.

Depreciation DOES count in the long run – though I agree with the comments reminding us it is NOT a linear function when figuring for an older car.

Given how much the extra rental insurance adds to the cost – unless you are accident prone – I don’t see how the cost is worth it in the long run – as long as you have good coverage. (And I suspect they DO train the desk clerks to act like not taking that insurance is a “catastrophe” since it is such a high profit item). Yes, you may get hit once for some loss of use – but getting whacked outrageously EVERY time you rent is money you can save and invest.

If the rental vehicle breaks down, the replacement will still take a while to arrive. That timely replacement is entirely dependant on the local personnel delivering it and the vehicles in stock. It may not be large enough to hold your passengers and belongings!

I use Enterprise for the weekend rentals solely to reduce wear and tear on my car. Costwise per mile is about the same, but trips to Dallas and back over a weekend are close to 600 miles. San Antonio and back (I include “driving around” in these trips) is about 500. Four weekend trips was 2000 miles I didn’t add to my odometer. Worth it, especially since I want this car to last. Oh, and we never drive my wife’s 2008 on long distance trips.

@Trent, I like this post. but not sure why you are only weighing on the hard benefits of “saving money” in this instance. look at the soft benefits – there are plenty
a. all of you in one car eliminates the dependency of one following the other or not
b. food and beverages, all in one car, so you don’t really get off the car when you need something and since all are together, it is merrier in sharing
c. all together, means it is a great learning for the kids in terms of family value, learn from your childhood stories, recall your childhood stories with your children and the parents
d. grand parents sharing their childhood parents with the kids.
e. when all of you decide to stop over to relax, you are in one car/van to communicate, so no need to use the phone.
f. share driving with four people instead of only two. may not be required all the time, but still have an option.
and many more…
we had to make a similar decision but still drove in 2 cars last summers, just because we couldn’t find a vehicle with 9 seaters. we were five includig our parents; and a friends family of 4. so there was no other go but go in 2 cars, was not that much of fun driving although we had lots fun at the stop overs.
-Ram

Renting a late-model minivan may give you more safety features (i.e. a more survivable vehicle), as compared to an older car. In addition, you avoid the very distracting and borderline unsafe practice of “convoying” two cars.

You can’t easily put a dollar value on this, but it should definitely be part of your decision.

Miles are not free or unlimited. Look at it this way: What if Trent made this 2,500 mile trip 20 times in the next 5 years. He’d be putting an extra 50k miles on his car. Is a car with 50k more miles on it worth more or less than a car with 50k fewer miles? Obviously you can’t sell a car with 75k miles for the same amount as a car with 25k miles.

But maybe you plan to keep the car until it dies. If you drive it a lot more then it will die sooner. If he paid $20k for the car and he expects it to last 200k miles then thats roughly 10c per mile. Every mile you drive on a car will reduce its life. There is a cost to that.

If you have a cheap car then the price is a lot lower. If my dad drives his 1991 truck that he bought for $500 then the impact of depreciation from each additional mile he puts on it is so low its almost negligible.

But when you’re driving an old beater with a lot of miles they are prone to breaking down and thats NOT really something you want to happen on a long road trip. If you’ve never had a car break down on a summer vacation then maybe you can’t relate. But let me tell you it is not a fun vacation to sit by the side of the road waiting for a mechanic to tow you miles to the next little town so they can over charge you for repairs while you get to stay in the fleabag motel for a couple days waiting. OK I guess I’m going on a tangent. sorry..

Jim

A post about priceline and hotwire is a nice idea. Start your research with betterbidding.com. I absolutely swear by it. It is one of those issues where the one with the information gets the deal. It takes some time, but I enjoy it and love the savings.

Sounds like a fun trip, Trent! While in New Orleans, see if you can check out a Paul Sanchez concert, a great folk singer/songwriter: http://www.paulsanchez.com. He’s a fantastic musician and a good pal. It also goes without saying to pay a visit to Cafe du Monde for some beignets and a cafe au lait. Try to make your kids laugh while they’re taking a bite and watch powdered sugar go everywhere. It’s fun. :)