Exotic, Luxury, and Sports Car Rentals

     Hotels, travel agencies, and even gas stations have national agencies and corporate offices setting guidelines or enforcing industry regulations. Not so with car-rental companies, which remain largely unregulated. Each company has slightly different rules, different terms in the fine print. But all operate on the same basic principle: Get as much money as possible for each rental.

     If you understand how the rental game is played, you can use this lack of regulation to your advantage . Here are six steps you can take to make sure you drive away with the best deal, whether you're booking on the Web, over the phone, or in person.

Reserve a Lower-End Car
     This is only recommended if you're certain that the car you want will be available. When booking online, over the phone, or well in advance, reserve a lower-end car and then upgrade when you arrive. The idea behind this is that many times rental agencies will over book their lower end cars and be forced to give you an upgrade at no extra charge. Major rental agencies generally sell out of "economy" (i.e., the cheapest) cars first.

Beware Weekly Rates
     Another thing to watch for in the fine print. Agencies will often advertise promotions for a discounted rate, the catch being that the rental must be for at least 5 days to qualify. If you come across a weekly rate like this, make sure you'll be able to keep the car for the duration of the rental, or negotiate a better daily rate before you leave the counter.

Deal With the Local Office
     The people answering the toll free number don't always know what's happening with a local office. For instance if the office in Orlando is running a special for $550 per day on a similar car and you book the rental at the toll free number in Sacramento at the standard rate of $900 per day you're overpaying $350 per day. The toll free numbers are fine for general information, but don't make a final deal unless you're dealing with someone from the office where you will be getting the car.

Check Online First
     Online booking sites such as Expedia or Travelocity are an excellent way to compare prices. You'll often find better rates than those offered by the individual rental companies toll free numbers. Another online option is to go to a site like Priceline, where you type in how much you want to pay and your bid is either accepted or rejected.

     After browsing through rates you get an idea of how low of a bid you can get away with. Priceline guarantees that your reservation will be with one of five major rental agencies but you won't know which one until after your bid is accepted. At Priceline, you're bidding on daily rates, so you'll have to do some math to compare weekly rates. Some online bidding sites won't allow you to pick up and drop off at different locations, so read the fine print.

Never Buy the Gas
     You know the routine: The rental agent asks you whether you want to purchase the gas already in the tank for a "Discounted" price or return the car with a full tank. Quite simply: Never, ever buy the gas in the car.

     The discounted price rental agencies offer is usually within a few cents per gallon of the regular price, and unless you return the car with a completely empty tank, you end up paying for gas you don't use. Be sure to return the car with the tank full though, because the refueling charges are outrageous.

Don't Buy Unnecessary Insurance
     If you have personal car insurance and you are using a major credit card for the rental, chances are you will not need any additional insurance. Likewise, the Loss Damage Waiver is a transferal of responsibility that supposedly makes the company, rather than the renter, liable for any damage to the vehicle, but the seemingly vague wording and substantial loopholes make it of questionable value.

     If, however, you don't have a personal car insurance policy, there are a few situations where the Loss Damage Waiver might be a good idea. Many credit card companies, don't extend coverage to high-end luxury cars (such as Porsche), trucks, or four-wheel drive vehicles of any kind, including many popular sports utility vehicles. Also, the insurance provided by many card companies does not cover damage that occurs on unpaved roads, or out of the state or country in which you rented the vehicle.