Enter the monthly vehicle rate ($/month), the insurance rate per day ($/day), and the length of rental (days) into the calculator to determine the Auto Rent. 

Auto Rent Formula

The following formula is used to calculate the Auto Rent. 

AR = (VHR / 30  + IR) * LR

  • Where AR is the Auto Rent ($)
  • VHR is the monthly vehicle rate ($/month) 
  • IR is the insurance rate per day ($/day) 
  • LR is the length of rental (days) 

How to Calculate Auto Rent?

The following example problems outline how to calculate Auto Rent.

Example Problem #1

  1. First, determine the monthly vehicle rate ($/month). In this example, the monthly vehicle rate ($/month) is given as 1500 .
  2. Next, determine the insurance rate per day ($/day). For this problem, the insurance rate per day ($/day) is given as  30 .
  3. Next, determine the length of rental (days). In this case, the length of rental (days) is found to be 60.
  4. Finally, calculate the Auto Rent using the formula above: 

AR = (VHR / 30  + IR) * LR

Inserting the values from above yields: 

AR = (1500 / 30  + 30) * 60 = 4800 ($)


Example Problem #2

The variables needed for this problem are provided below:

monthly vehicle rate ($/month) = 500

insurance rate per day ($/day) = 20

length of rental (days) = 10

Entering these values and solving gives:

AR = (500 / 30  + 20) * 10 = 366.66 ($)