Latest LOR Report Shows Historic Rental Times
Jan. 21, 2022—The latest Length of Rental report has been released, finding the average length of collision-replacement rentals is 17.0 days.
It is nearly a four-day increase from the same time last year and an increase of 1.8 days from Q3 2021.
Historically, 4th quarter LOR increases over the 3rd quarter, as a result of traditional patterns brought about by winter weather, animal accidents and increased travel volume around the holidays. This trend has repeated itself every year since Enterprise started tracking these results.
Every state, plus DC, saw an increase. On the low end, Iowa had the smallest increase at 1.1 days, followed by Wyoming and South Dakota, both with 1.6-day increases. Hawaii (+1.9) was the only other state with less than a 2-day increase. On the other end, New Mexico had the largest increase at 5.6 days, followed by Louisiana (+5.5), Arizona (+5.3), DC (+5.0) and South Carolina (+5.0). Thirteen states had increases between 4.0 and 4.9 days, and another 23 states had increases between 3.0 and 3.9 days.