How does a deposit for rent a car work? | Compexit Rent A Car

How does a deposit for rent a car work?

1 Aug. 2022

Do you have doubts about car rental depots? Here's everything you need to know about car rental security deposits when you rent a car from! One of the most frequent questions in car rental is about the security deposit. Is it really needed? Is it possible to rent a car without a down payment? How much will it be? Well, let's start with the basics.
The car rental deposit is a fixed amount of money required by the rental company just for the company's safety. If the car is returned very dirty or with scratches, for example, the rental company can use part of the money to repair the condition of the car. It is simply a guarantee for the car rental company, in case certain rules stipulated in the contract are not respected. If everything is in order when you hand over the car, the amount will be returned in full.

How is the deposit calculated?

The amount of money you will leave as a guarantee deposit for the chosen car depends on the rental company and what it takes into account when calculating the amount. Usually, take into account the type/category of the car you are renting, the number of days in the reservation, your age and the place where you are booking (and also where you will return if it is a one-time rental). Here's an example: if you book a luxury car in a metropolitan area and you're 25 years old, your security deposit will most likely be much higher than if you book a small economy car and you're 35 years old . The higher the risk for the rental company, the more you will have to leave as a deposit.

How long does it take for the rental company to return my deposit?

It usually takes between 10 and 20 working days for the deposit to be returned to your credit card balance by the car rental company. Whatever the amount, the rental company keeps this money only during the reservation period. When you hand over the car and the rental company assesses that it is perfectly fine, the entire amount will be returned.

Is it possible to avoid paying a deposit?

Unfortunately no. We know that sometimes it's not pleasant, but think of it this way: the rental company trusts you with something very valuable, that's why it's mandatory. This deposit is kept only while you enjoy the trip! For professional car rental services, call Compexit with confidence and enjoy a worry-free stay.