By now I am sure that nearly everyone around the world has heard of Brexit. I am not going to delve into the politics of it but, it is worth noting that the automotive industry has been affected by the recent changes happening in the United Kingdom. In particular, car rental in Europe has shifted dramatically since the results of the Brexit vote were announced. I have decided to write this article to help readers better understand just how Brexit has affected the car hire market.
With Brexit negotiations still inconclusive, the price of manufacturing and importing cars has been fluctuating for months now. Europe is home to many car manufacturing businesses and they have been reporting a rise in the cost of buying raw materials to manufacture their cars. As such, the total cost of buying a car will rise and is likely to spill into the car hire business as well. If the companies that rent out cars are paying a lot of money to secure the cars for their businesses, they are likely to charge customers more to cover the costs.
Fuel prices are forever fluctuating and with the uncertainty of Brexit, they are guaranteed to rise to exorbitant levels. This not only affects individual car owners but, car rental businesses as well. When you rent a car, you are likely to pay extra if you return the car with an empty tank. Since the burden now lies on the car hire company to fill the car up, they will surely charge a lot more to cover the high cost of fuel.
Insurance is crucial if you want to rent a car. Without it, you will be left paying a lot of money for any scratches or damages to the car. Several European nations have adjusted their laws throughout Brexit to ensure that insurance is not negatively affected. In fact, many countries have been working to create equal coverage and to secure cheaper, more manageable premiums even for people renting cars.
Brexit has seen some rental companies imposing tighter restrictions on their customers. With the possibility of not being able to travel to various parts of the continent freely, some companies are choosing to limit rental options, especially for customers looking to travel to different countries. If you are looking to travel a long distance to another part of the region, you might find it difficult to find a company that will allow you to rent a car.
All in all, Brexit has had a huge impact on the car rental business and only time will tell just how things will pan out. While many companies have already rushed to raise their fees and restrict rentals for country to country trips, some are still operating under older conditions and have yet to get caught in the craze. At the end of the day, doing a lot of research will help you find a company that suits your needs and hopefully, renting cars will be less of a hassle in the future.