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There are a number of options for renting a car in Prague, although, as stated elsewhere, renting a car is only advisable if you are planning to travel outside of Prague.
If you are bringing GPS, make sure that you have updated local maps, as construction is common. Otherwise, navigating around the countryside is absolutely no problem.
When arriving at the Prague airport, one can find a number of rental agencies in the "C" parking lot area, although this is very poorly signed. Check the company's reputation before renting a car, though.
Before you rent, type in the company's name into Google, in conjunction with the world "complaint" or "scam". There are a number of rental companies at the Prague airport that have a very bad reputation.
There are a few scams going on, although many are not limited to the Prague airport.
Exercise due diligence or stay with a reputable car company.
In all cases:
Make sure that you keep proof that there is no damage to the car - keep the rental slip, long after the car rental. Copy the ID # off the car if possible. ALWAYS get the form signed to say that there was no damage.
Take pictures before and after the trip. Use your digital camera, turn the car on and take a photo of the clock with the date, take pictures of the outside of the car.
Imagine that something has gone wrong, is there a LOCAL number you can call for help 24/7? Often there is no local number supplied, believe it or not, with only an 1-800 number available, if it is a US company, which is useless in Europe. Most often there is just a number to the counter where you rented the car, but no after-hours help, and certainly no help if you have a dispute with an agent at the local office. (Not uncommon, local agents are the main source of scams and you have no one to call, no head office. The main number will only lead to a recommendation of a local number leading to the same agent.)