If you’re planning a trip to Chicago, you may want to reconsider your transportation options. According to a recent study by consumer credit website NerdWallet, Chicago has been ranked as one of the most expensive cities in the United States to rent a car.
The study evaluated nearly 500 car rental prices from eight different companies, calculating the average weekly rental price for the lowest-priced rental car in cities with the 15 largest airports in the U.S. The results showed that Chicago holds the distinction of having the most expensive average car rental price of any city with a major airport.
On average, a weeklong car rental in Chicago will set you back $624.71, narrowly edging out the Seattle-Tacoma metro area. This is a significant difference compared to the cheapest place to rent a car, which is Miami with an average price of $377.07 per week.
So why is Chicago so expensive when it comes to car rentals? The study found that the high tax rates on rental cars in the area have a major impact on the price. The state of Illinois imposes a tax rate of 5% on all car rentals, according to the state’s Department of Revenue. Additionally, the Metropolitan Pier and Exposition Authority imposes a 6% excise tax on rental cars, and the city of Chicago assesses a lease transaction tax, according to state databases.
However, it’s not all bad news. The Regional Transportation Authority, which helps operate public transit in the Chicago area, does not currently assess a tax for car rentals, according to state officials. This means that if you choose to use public transportation during your visit, you can save some money and avoid the high rental car prices.
But for those who prefer the convenience and flexibility of a rental car, there are still ways to save money. It’s important to shop around and compare prices from different rental companies. You may also find better deals by booking in advance or during off-peak travel times.
Despite the high cost of car rentals in Chicago, it’s important to remember that the city has a lot to offer for visitors. From its stunning architecture to its vibrant food scene and rich culture, Chicago is a must-visit destination. And with the money you save on car rentals, you can splurge on some of the city’s famous deep-dish pizza or take in a show at one of its many theaters.
In addition, Chicago has a well-connected public transportation system, making it easy to navigate the city without a car. The iconic “L” train system runs throughout the city, providing affordable and efficient transportation to popular destinations. The city also has a bike-sharing program and plenty of bike lanes, making it a great option for exploring on two wheels.
Furthermore, Chicago is a walkable city, with many popular attractions within a reasonable distance from each other. So why not take a stroll through the city and admire its beautiful architecture, or take a leisurely walk along the shores of Lake Michigan?
In conclusion, while Chicago may have the highest average car rental prices in the U.S., it should not deter you from visiting this amazing city. With some planning and research, you can still enjoy all that Chicago has to offer without breaking the bank on car rentals. And who knows, you may even discover a new favorite way to explore the city. Happy travels!
