When you are renting a vehicle, you might notice that the cost of renting a minivan can be almost twice the amount as renting a smaller vehicle, even if the smaller vehicle is classified as a luxury car. While this may seem illogical since the cost of a luxury car is so like that of a minivan, there are in fact many logical reasons for this price difference.
Depreciation
First, minivans simply do not hold their value in the same way that other vehicles do. Since rental companies tend to purchase their vehicles brand-new and sell them within a couple of years, this depreciation is a huge factor in the costs of minivan rentals.
Supply and Demand
Due to the depreciation of the minivan, rental companies don’t tend to keep a lot of minivans on their lot. Minivans also have a specific type of demand: a single person can get by renting a car or a minivan, while a family of six needs a minivan and cannot get by with a car. Since there isn’t a high supply of minivans compared to the smaller cars that are on the lot and there is going to be a demand for the minivan, the cost of minivan rentals is going to be higher.
Avoiding the High Cost
If you are hoping to avoid the high cost of renting a minivan, there is an option that you can take to do this. You can choose to bypass the typical places that provide minivan rentals in Long Island City. You can do this by instead renting a minivan through a commercial vehicle rental company. Get more information on this option by doing a simple Internet search on commercial van rentals in your area.
