Rent a Car For Vacation?

Joe asks if it would be better to rent a car for vacation or use his own car.

QUESTION: Joe on Facebook asks if it would be better to rent a car for vacation or use his own car.

ANSWER: Assuming your own car is reliable, taking your own car is financially better. Let me explain to you how quickly you can come to that conclusion.

If you owned Hertz and you were to rent a car to someone, you would cover the cost of the purchase of the car amortized over your renters as well as profit and whatever loss of value you had due to the miles and whatever repairs you had due to the miles on average. All of those things are built in to the cost of renting a car, so your car should be cheaper to drive on average. Otherwise, Hertz would be losing money, and really, they’re a lot of things, but dumb is not on the list.