When planning a trip to explore the Algarve (pronounced as Algar) region, it is best to rent a car at the Lisbon International airport (LIS) and drive 2 hours to the hotels. Flights from Lisbon to the Algarve are overpriced and you will still need a car to get around the area.

Our Lisbon airport 5-day car rental
I compared the prices from all the major companies I have Premium or Elite status with (through my work and Amex Platinum), like Avis, Budget, Enterprise/National and Hertz. I found the best price for an automatic transmission with Budget and I reserved it for $150 (see image below). National Car Rental and Hertz were charging $180 and $220 for a similar car.

Car rental pickup experience at Lisbon airport
Picking up our Lisbon airport car rental from Budget took around 45 minutes due to a long line and ticket system that covers both Avis & Budget in the same counter. There are NO Budget Fast Break Benefits in Europe and I recommend going with either Hertz or National car rental for faster pick up times (they both have several computer kiosks for self check-in).
How was the rental car we received with Budget company?
The Citroen C4 we received from Budget was a hybrid and new with very few miles on it. It had a smooth transmission and we enjoyed driving it for over 500 miles during the rental period. Our vehicle was equipped with a Via Verde transponder for automatic toll payment and we filled the vehicle with petrol worth around 100 Euros for the entire 5-day trip.

Conclusion
Several rental car companies at Lisbon airport have a ticket system that can delay your car rental pick up. While Budget Car Rental saved us some money, I would use either National or Hertz and pay the extra dollars so I could get out of the airport quicker.