Rental car worth it?

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Posted by Jim on Jan 5, 2008 128 views

We stopped for gas this trip at the following places

12/26/2007 Exxon Ashland, VA $2.959/gal 10.239 galloons - $30.30
12/27/2007 TCA Manning, SC $2.73/gal 12.985 gallons - $35.50
12/27/2007 Gas Kwick Ponciana, FL $2.999/gal 16.0286 gallons - $48.07
01/02/2008 Citgo Orlando, FL 3.079/gal 6.499 gallons - $20.01
01/02/2008 Exxon Brunswick, GA $3.079/gal 12.089 gallons - $37.22
01/02/2008 Sunoco Smithfield, NC $2.939/gal 13.541 gallons - $40.49
01/03/2008 WaWa Mt Ephraim, NJ $2.879/gal 15.286 gallons - $44.01

This works out to a total of 86.659 gallons of gas with an average price of $2.95 per gallon for a total of $255.60. Since the trip was 2,300 miles, we got an average of 26.54 MPG. The car costs us $229.65. So did we save any money using a rental car instead of our own car?

If we had taken the Lincoln Navigator, our costs would have been approximately $424.06 plus an oil change and tire rotation for a total of $446.06. We spent $485.25. So we spent $39 more out of pocket by taking the rental car. Of course we saved wear and tear on our vehicle. And since the Navogator just rolled over 170,000 miles this weekend, I think that has a benefit.

If we had taken the Toyota Sienna, our costs would have been approximately $376.94 plus maintenance for a total of $406.94. There we have also spent almost an additional $80 instead of putting another hard trip on the minivan.

Was it worth it? Without the coupon the rental car would have been $50 higher. That makes a big difference. We have a ton of 2 day weekend coupons, but could not use them due to blackouts over the holidays. Instead we had a $50 any time coupon. The difference? We could have lowered the rental costs an additional $42.99 based on a $46.99 daily rate.

Also we stayed an extra day. Thanks to Eilis, Princess Can we have an extra day. Without that, our costs would have been $46.99 plus tax less, making the Navigator $7 cheaper PLUS the wear and tear. The minivan would still be cheaper by $34 before wear and tear.

What does the IRS rates tell us? Our costs including wear and tear, insurance, maintenance and operating costs for this trip was $1,150.00. But you can only use that if you do not already own a car, and rented one just for this trip. I know people who live in New York City who do not own their own vehicles.

Will we take a rental car again? I would think so on a trip where we get 2 days free, or one where we do not take a car out for 8 days. The 2 day coupon made it a better deal out of pocket. The extra day and not being able to use the 2 day free coupon made it better out of pocket to drive our own car - BEFORE wear and tear. AFTER wear and tear, coupon differences and the extra day, it was still better to take the rental car.