Rent a Car to Save Money?
Mr. Money and I are still trying to figure out what we want to do for our anniversary trip. We’ve been going back and forth between Hawaii, Colorado, or even traveling up to Michigan to go camping. I thought it would be neat to go back to the place we met and fell in love in Colorado, but it’s like a 19 hour drive from where we live. That’s a lot of driving!
We’ve thought about just going back to Colorado and staying with his mom (she has a huge house) and doing our own thing. We love Colorado in the fall and it would be a great trip. However, I don’t want to put all those miles on our car driving out there. I want our car to last many, many years since I hate having a car payment.
It seems almost silly to think about paying to rent a car to drive out there when we have two perfectly (now) operating vehicles that we own. I’m just thinking though- if it cost us $200 for the week to rent a car it may be worth it. It’s about 3000 miles round trip. If we took our own vehicle, we’d have to get an oil change when we got back (or do it ourselves) which would cost around $30 roughly. We’d also be adding wear and tear on the vehicle. We’d still have to pay for gas, but at least if we rented a car we’d eliminate the worry about the number of miles we’re adding.
Here’s some math I’ve been calculating. The Mileage Reimbursement rate for 2010 is 50 cents a mile. The mileage reimbursement rate includes the cost of operating the vehicle plus gas. If we drive our own vehicle out there, the mileage reimbursement rate would be $1500 round trip! If we didn’t use those numbers and just paid for gas, it would cost us at least $250 just for gas. I looked up the cost for a rental car and it’s about $222.07 for a week. Add in gas for a compact car ($190 total) and we’re at $417. All in all, we’re really out $167 ($417-$250) to rent a car versus driving our own.
Do you think it’s silly to consider renting a car when we own one?