Price Gap at Car Rentals increases between Locals and Foreigners Skip to content

Price Gap at Car Rentals increases between Locals and Foreigners

By Iceland Review

It can cost an Icelander 245,000 ISK (2,000 USD) to rent a station wagon for a week, the average rental period of a rented car. The price of rental cars has all but doubled since last summer, mbl.is reports.

Photo by Páll Stefánsson

Vilhjálmur Sigurdsson, Manager of Marketing and Sales at car rental company Avis, says that foreign tourists will not be hurt by the increase, since all contracts are made in Euro instead of the Icelandic Krona. The increase they might experience is only about 5%.

Icelanders are the ones who suffer from the elevated prices, since all costs both from loans and buying new cars have skyrocketed as the Krona collapsed.

Sign up for our weekly newsletter

Get news from Iceland, photos, and in-depth stories delivered to your inbox every week!

* indicates required

Subscribe to Iceland Review

In-depth stories and high-quality photography showcasing life in Iceland!