Renting a car — if you can find one — could cost you at least $300 a day. That's possibly more than you'll spend for air fare, hotel rooms or tickets to theme parks.
A year ago, air travel came to a near halt, leading to a glut of rental cars. Rental companies parked their cars in unused lots at ballparks around the nation, and cars were rented for a fraction of their normal price — or sold as used cars. The industry sold off more than a half a million cars, about a third of their combined fleets, just to generate cash they needed to survive the crisis.
Following a year of deep losses, rental car companies have been unable to rebuild their fleets, especially with auto plants shut by a shortage of computer chips needed to build cars.
So this spring's rebound in spring break travelers has led to a severe shortage of rental cars in vacation hotspots, resulting in sky-high prices for vacationers.
Have YOU experienced this anywhere?
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