Incorrect euro exchange rates could hit British tourists

UK holidaymakers should be extra vigilant when booking their European car hire this year in order to avoid being stung with large and unexpected payouts on arrival, according to one of the UK’s leading car hire specialists.

Economy Car Hire issued the warning after finding that many European car hire companies have failed to keep their exchange rate current, following sterling’s recent big fall against the euro.

The result is that many quotes currently being provided for car hire reservations are vastly cheaper than the actual price confronting tourists when they arrive in Europe to collect and pay for their vehicle – sometimes up to £70 more.

The current euro exchange rate is €1.34 to the pound but with many companies still using old exchange rates of €1.45 or more when quoting car hire prices, the difference has serious implications for many UK tourists paying on arrival.

For a family booking a large vehicle, such as a people carrier for a two-week hire in Europe during August, an incorrect rate could see them paying around £70 extra, on top of the original quote they received.

“Rory Sexton, Managing Director of UK-based Economy Car Hire, said: “It’s vital that businesses in the car hire industry ensure that only the most up-to-date exchange rates are used, in order to provide an accurate and honest quote for customers.

“Failure to do so, particularly when opting to pay for your hire car on arrival in Europe, can result in unfair and wildly exaggerated online quotes - which may seem like a bargain at the time of reserving a holiday vehicle but can hit tourists with unforeseen payouts upon collection.”

In order to safeguard against falling prey to exchange rate blunders, Economy Car Hire recommends that holidaymakers wishing to book a car in Europe take steps to protect themselves.

“When opting to book pay-on-arrival car hire, make sure you visit a reputable exchange rate site and check that your car hire company has a similar rate applicable to their vehicles,” said Mr Sexton. “As a further precaution, only book with car hire companies that allow you to pay up front, before heading out to your destination. This will provide you with peace of mind, at a one-off cost and ensure you avoid any nasty surprises at the start of your 2008 holiday.”

For further information on the latest euro exchange rates and how to get the very best from your holiday car hire, visit www.economycarhire.com and download a guide to booking car hire or all press enquiries please contact Sarah Southgate on 0845 450 0877.