Millions of us travel to Europe every year and many of us also hire a car for when we reach our destination. On June 23rd 2016, the UK made the momentous decision to leave the EU. The implications of this decision are far reaching and it has left many customers at Rhino Car Hire asking how they will be affected.
As a result of Brexit the pound has plummeted to its lowest level for years. It has dropped against the dollar and the Euro by around 10%. This in effect means everything from a cup of coffee, to the cost of your hire car has gone up.
The €:£ rate is important as the majority of us holiday in the single currency area of Europe and the $:£ rate is also very significant as oil is priced in dollars. Meaning the 10% fall will push up the price of petrol and diesel in our hire cars (and your airlines fuel bill, so expect air fares to rise accordingly).
However existing customers at Rhino need not panic. Brexit will not affect existing bookings and we are doing our best to absorb as much of the changes as possible with our very competitive rates. The exchange rates are worth keeping an eye on when planning a future trip however as the overall cost in sterling for accommodation, flights and car hire is likely to rise.
An unlikely positive, to come out of leaving the EU for hire car users, could be in relation to an EU law that came into force on 1st May 2016. Presently (as members of the EU) UK residents hiring a car in Switzerland
, particularly Geneva or Zurich are not able to cross the borders in their hire car into EU states. However, once the UK has left the EU, bizarrely enough you will be able to drive your Swiss registered car across the borders into France, Germany, Italy or Austria. So that could make life a little easier and provide greater flexibility for hire car users who frequently travel to Switzerland. Read more on the EU Law affecting car hire in Switzerland here.
Once we have left the EU this will be the same for customers who hire a car in Northern Ireland
and wish to drive across the border to the republic of Ireland.
It is going to take a little while for the dust to settle in relation to the UK leaving the EU and there are sure to be some twists and turns along the way, affecting the life of UK citizens at times for the better, at times for the worse. Here at Rhino we will continue to offer the most competitive rates and provide you with excellent customer service to answer any of your questions.