With a poor economy and a tight budget, every traveler is looking to cut corners and save a few extra dollars. Car rentals are no exception. Here are some tips on how to save when renting a car.

1. Know your market - Each city is highly competitive and depending on the type of car you rent and the location you rent from, it makes sense to compare rates and be as flexible as possible with the type of car you rent.

For example, in Hawaii, convertibles are highly sought after, these rates will be different in Hawaii than New York. Supply and demand will also make a huge difference on price and competition. You will find more convertibles in warmer climates and more minivans in places like Orlando that cater to families. 



2. Compare prices - One of the better sites to check and compare prices is orbitz.com but regardless of where you are traveling to Skoovy.com has updated deals and discount codes for you to use. Most travelers have no idea that you can save money simply by applying a discount code to your rental.

3. Think outside the box - If I know I am renting for at least a week, my biggest cost saver is to avoid the airport rental centers and their high fees. The airport taxes will really burn a hole in your wallet and its a common mistake for renters to see one price on a website and when they return the car, the fees have been added on. Instead, find a location closest to the airport and take a shuttle or taxi to the location. Believe me, it's worth it. I recently stayed in Australia for a month and saved $600 US Dollars by using this method myself. The cost of the taxi to the off airport rental location was far less than the airport fees and not too much of an inconvenience.

4. A word of caution. Some rental agencies offer better prices online but only if you show your own car insurance policy when you arrive to claim your rental car. Like you, I don't travel with my rental insurance policy on me and if you don't have it, the price will be far more than using their competitors.