A new survey has revealed that it’s hard to find a car that’s truly affordable to rent for an entire year in the UK, and that the most popular vehicles to rent out include the BMW M3 and the Audi Q5.
However, it’s the Audi A3 that has become the most affordable car for a year.
The Audi A4, which has been the most expensive rental car since the introduction of the rent-a-car scheme in the 1990s, comes in second, with an average of £5,000 per month.
The average rental car costs around £11,000 in the north of England, according to the RentAhead website, but it’s not just the Audi that’s expensive, the average rent for a three-bedroom flat in London is around £14,000.
This has led to an increase in the rental market over the past year, with the average value of a three bedroom flat increased from £1,400 in June to £2,800 in September, according the Rentahead website.
The trend towards renting out the car has been met with concern from people who say it’s an irresponsible investment.
However some argue that the rental industry needs to change, as the market for a car has always been skewed towards older people, and therefore should be reserved for people who can afford to pay more.
The Rentaheads survey also revealed that the average income of a household in England and Wales was £41,000, up from £38,000 a year ago.
But with rents increasing and people finding themselves with less disposable income, the number of households renting out a car will be increasing as well.