The price of gasoline has fallen to an all-time low, making it cheaper to rent a car in the U.S. and other countries.
But that doesn’t mean it’s cheap to buy one.
So what should you do when you need a car?
Read moreRead moreThe average price of a car rental in the United States in 2018 was $4,834, according to data from Kelley Blue Book.
The average monthly cost was $2,942.
That was down by 5.3 percent from last year, according.
That’s the fourth straight year that car rental rates have dropped, but the first time since 2009.
In 2017, the average monthly rent in the country was $1,982, according the National Association of Realtors.
That was down 4.7 percent from the previous year.
The median monthly rental price was $3,567.
That dropped by 2.5 percent.
But the biggest drop in the number of rental cars was among Americans aged 25 to 34.
In 2017, there were 4.3 million vehicles for rent, down from 4.5 million in 2016, according a report by The Association of National Realtor.
That decrease is due to a number of factors, including a lower supply of rental vehicles.
In 2018, more than 7.3% of all rental cars were owned by seniors, according data from the National Automobile Dealers Association.
That represents a record low for the sector, and represents the second-lowest number of vehicles for rental in four years.
The average age of all cars for rental was 37, down 5.5 years.
That compares to 37.6 percent of all vehicles in 2016.
There are now fewer cars for rent for 35- to 44-year-olds, according The Association for Automotive Research.