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Clark Howard: Renting personal cars

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Updated: 8/16/2013 9:47 am
JACKSONVILLE, Fla. -- Do you know the cost of renting a car is getting higher as the car rental industry has gotten smaller and smaller? What I mean by smaller and smaller is we used to have eight players in the business fighting over your car rentals.

Today it's really only three behemoths that control so much of the car rentals in the United States. So with a smaller number of competitors, we still have enough competition based on traditional business models. But compared to what we were used to, car
rentals were the steal of travel.

So how do you steal a deal? Well, there are
three teenagers believe it or not, have started their own car rental agency.

First in San Francisco, then in Boston and adding other cities. Here is how it works.

Somebody who's
leaving town to go on a trip allows their car to be rented out instead of paying for airport parking. They make money when they are away on a trip. You're able to rent a car cheaper. Now there's some controversy about, but what a
wild idea on how to save you money.

For more information go to

Watch Clark Howard weekday mornings on Action News This Morning on FOX30 beginning at 7 a.m.

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