The Importance of Keeping the Deposit in Mind When Renting a Car
As more people opt for car rental services as means of transportation, both within the region and across the country, it is essential to consider the implications it can have on your wallet. Not only can you save money by selecting the right option from a variety of car rental services, but you must also keep the deposit that you will be required to provide at the point of check-in. This deposit is the key to ensuring that the car you rent is not unduly damaged, or stolen during the duration of your rental period.
How to Calculate the Amount of Your Deposit
Most car rental companies calculate the amount of deposit required at the point of booking by looking at the age and make of the car you intend to rent, as well as the length of your rental date. The value of the rental car will also come into play.
For cars of a lesser value, many companies will ask for a deposit of anywhere between $500 and $1000 depending on the age and condition of the car. However, for cars of a higher value such as luxury or sports vehicles, the deposit that you will be expected to provide can easily double, or even triple in some cases.
Moreover, car rental companies are likely to be more lenient in terms of the amount they request as a deposit, if you provide evidence of car insurance. This could vary depending upon the policies of the car rental service but there is a good chance that showing proof of the car insurance could reduce the amount of the deposit that you must pay.
What is the Deposit For?
At the end of your rental period, when you return the car, a representative from the company or an attendant from the rental service will inspect the car for any damage or theft. In the event that the car rental services discovers damages to the car that appear to have taken place during your rental time, the damages will be deducted from the deposit you have paid in advance.
But why is it important to maintain the condition of the car that you rent from a car rental service? Keeping your rental car clean and well-maintained will give you a better driving experience, and also reduce the chances of your experiencing a breakdown while you’re on the road.
Moreover, maintaining the car keeps it within its manufacturer’s warranty, which ensures that you don’t have to pay additional costs in order to keep it in good shape.
If you fail to maintain the general condition of the car and incur damages to the car that can not be linked to any causing events, then you will be liable to pay additional fees to the car rental company.
Additional Charges
In some cases, you might be charged a fee for late return of the car. In such situations, the company reserves the right to charge you an additional fee if you are unable to return the car by the due date. This fee is generally crunched into your car rental agreement, provided you read and understand the terms beforehand. The fees can generally range between $50 to $100, depending upon the policies of the company.
Finally, it is always important to select the right car rental service for your needs. Make sure to read and understand the terms and conditions that you have agreed to when finalizing your car rental agreement. Also, inquire about the additional fees and deposits required to settle your rental agreement at the end of your rental period.
In conclusion, it is always important to consider the amount of deposit that you will be required to put down when renting a car. The deposit back you will receive when you return the car safely, and on time, is determined by the maintenance and condition of the car when you took it. It is hence essential to consider the larger financial implications associated with returning a car that is not in its previously rented condition.
