Rental cars can quickly become one of the most expensive parts of your travel budget. But they don’t have to be! With a little know-how, you can save hundreds—or even avoid paying for a rental car completely.

Whether you’re booking for an upcoming vacation, business trip, or a road trip with friends, here are some of the best strategies to cut costs on your next rental, plus how you can leverage credit card benefits like Primary Rental Car Coverage and use your reward points to make the process even more affordable.

4 Ways to Save on Rental Cars

1. Book Through Your Bank’s Travel Portal

One of the easiest ways to save on rental cars is to book through your bank’s travel portal. Many major credit card companies like Chase and Capital One offer their own travel portals where you can use your reward points to book rental cars at a better value. By booking through these portals, you can often get 1.25 to 1.50 cents per point when redeeming rewards—meaning that you can offset or completely eliminate the cost of your rental car.

It’s not the best value for your points in terms of flights or hotels, but if you need a rental, using your points this way will still help you save big and can potentially zero out the cost of your car rental.

2. Book Through Capital One’s Travel Portal

If you’re a Capital One cardholder, you can use your Capital One miles to book rental cars through the Capital One travel portal. While the redemption rate is typically 1 cent per mile (a lower value than some other redemptions), it’s still an excellent way to take care of rental car expenses without spending any cash.

Additionally, if you have a Capital One Venture X card or another Capital One rewards card, you can use statement credits to offset rental car expenses. This means that once you pay for your rental, you can use your Capital One miles to apply a statement credit toward your rental charges.

Bonus Tip: Double-dip by using a promo code or discount (like AAA, AARP, or corporate discounts) while booking through the Capital One portal to maximize your savings!

3. Use Discount Websites Like AutoSlash, AARP, AAA, or Costco

If you’re not using your points, be sure to shop around on discount websites for the best rental deals. Websites like AutoSlash or membership programs like AARP, AAA, and Costco can help you find rental car discounts. You can also find professional discounts through your job—teachers, for example, can get up to 25% off rental cars with Hertz, Avis, Budget, and Enterprise through the NEA (National Education Association).

Even if you’re not part of a specific membership group, taking the time to search for codes and discounts can make a significant difference in the final rental price.

4. Decline Rental Car Insurance (If You’re Covered)

Many car rental agencies will try to sell you additional insurance for things like collision damage, theft, or loss. But if you have the right auto insurance or a credit card that provides coverage, you may not need to buy their expensive protection.

Primary vs. Secondary Car Insurance

• Primary Insurance: This is the best kind of coverage, and some credit cards offer Primary Auto Rental Collision Coverage. If you have primary coverage, you don’t need to rely on your personal auto insurance at all. The credit card company will handle any claims for damages directly with the rental company. This saves you from paying for repairs and from dealing with your insurance provider.
• Secondary Insurance: On the other hand, Secondary Insurance only kicks in after your primary insurance (like your personal car insurance) has paid out. If you have secondary coverage from a credit card, your personal insurance will still need to be involved, and you may need to pay a deductible.

5. Use a Credit Card with Primary Rental Car Coverage

Some of the most well-known travel credit cards offer Primary Auto Rental Collision Damage Coverage, and it’s a game changer when it comes to rental car savings. When you pay for the rental car with a card that provides primary coverage, you won’t have to file a claim with your personal auto insurance if something goes wrong. The credit card company takes care of it, and you don’t have to worry about raising your insurance premiums or paying a deductible.

Here are some of the best cards for Primary Rental Car Coverage:

• Chase Sapphire Reserve
• Chase Sapphire Preferred
• Capital One Venture X

These cards provide primary coverage, meaning that in the event of an accident, the credit card company will handle the claim directly.

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Step-by-Step Instructions for Booking a Rental Car Using Chase and Capital One Travel Portals

Booking Through the Chase Travel Portal (Ultimate Rewards Points)

1. Log in to your Chase account and go to the Ultimate Rewards portal.
2. Under the “Travel” tab, click on Rental Cars.
3. Search for your desired rental car location, pick-up and drop-off times, and car type.
4. Once you see available cars, select the one you want to book.
5. At checkout, you’ll see the option to use your Ultimate Rewards points. You can redeem 1.25 cents per point for Chase Sapphire Reserve cardholders or 1.5 cents per point for Sapphire Preferred cardholders.
6. Confirm your booking and enjoy your zero-cost rental!

Booking Through the Capital One Travel Portal (Using Miles)

1. Log in to your Capital One account and navigate to the Travel Portal.
2. Click on Rental Cars and enter your pick-up location, dates, and car type.
3. After searching, select your rental car and move to checkout.
4. At checkout, you’ll be able to apply your Capital One Miles at a 1 cent per mile rate to pay for the rental.
5. Alternatively, if you have travel credits, you can use them to offset the rental car cost.
6. Confirm the booking, and you’ll see the rental car cost zeroed out with your miles or travel credit!

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How to Use Capital One Miles for a Statement Credit

If you don’t want to use your miles directly for booking, you can redeem them as statement credits for rental car charges:

1. After paying for your rental car, go to your Capital One account.
2. Click on “Use Miles” and select Statement Credit.
3. Select the rental car charges you want to apply the credit to.
4. Redeem your miles to reduce or cover the full cost of your rental.

This is a great way to use your Capital One miles to cover travel expenses, including rental cars!

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Bonus: Real-Life Example of Primary Coverage Saving Money

Let’s say you rent a car and get into a minor accident that causes $1,300 in damage. Without primary coverage, you’d likely need to file a claim with your personal auto insurance and deal with the hassle of a deductible and insurance hikes. But if you’re using a card with Primary Rental Car Coverage, you won’t need to worry about that.

In our case, when we got into an accident during a rental, we simply called the bank and rental car company to report the incident. Since we used a card with Primary Coverage, the bank took care of the damage payment directly, saving us from paying a deductible or dealing with insurance claims.

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Final Thoughts

Rental cars are often a necessity for travel, but they don’t have to break the bank. By booking through travel portals, using points for redemptions, and leveraging credit card benefits like primary coverage, you can drastically reduce rental costs or even avoid paying entirely. With these tips and tricks, you’ll be on your way to a more affordable and stress-free travel experience.