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Am I a total idiot to not reserve a rental car before we arrive in Italy?

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This trip we are basically 'traveling by the seat of our pants'...We have a very loose itinerary (three days in Venice, train to Ravenna, spend some time in a small beach community on the Adriatic, train to Florence, etc. eventually making our way to Rome) We have a little less than three weeks in Italy and plan to make reservations at the last minute as we are not sure where we will land on any given day.
We are not sure when we will want to rent a car and not sure when we will want to drop it back off.
My question is, if we don't reserve a car prior to our arrival in Italy will I regret it once I'm there? We don't want to be charged up the wazoo for a last minute rental, but we don't want to be tied to a schedule either. I know here in the US there are last minute specials online for car rentals and am hoping there might be the same sort of thing available to me once we are there...any thoughts? Thanks!

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