The security deposit is a necessary step in order to actually rent a car . In fact, when collecting the booked vehicle, the car rental company usually requires a deposit as a guarantee , which can be paid by credit card or by cash .
The security deposit is a cash amount that is required from the customer who wishes to rent a car. For the company it represents a form of protection in the event of damage to the vehicle furnishings, fines or other additional costs that cannot be reimbursed through insurance and deductible. The amount of money intended for the security deposit is blocked for the entire duration of the rental and released once the vehicle has been returned by the customer.
In this article we will try to explain how the security deposit for car rental works , providing you with answers to the most common questions and doubts that our customers have raised over the years. Enjoy the reading!
Car rental with security deposit in cash: is it possible?
Most car rental companies require a credit card for the car rental deposit , as this is a safer means of payment than prepaid cards or cash.
Efay , on the other hand, in order to meet its customers as much as possible, provides the possibility of leaving the deposit in cash , as well as admitting the payment of car rental without a credit card .
How much is the security deposit for the car rental?
The cost of the security deposit varies according to the policies and rules adopted by the different car rental companies. The deposit can start from a minimum amount of € 300 - € 500 up to larger amounts. The amount of money required by the company depends on a number of factors, such as the model of the car , the country where you want to rent the vehicle and the rules of the companies themselves.
Efay , specifies the cost of the security deposit of the car rental in the booking form and, in particular, varies according to the chosen car, the duration of the rental and the accessory coverage selected .
Refund of the security deposit for the car rental
At the beginning of this article we anticipated that the car rental company blocks the amount of the security deposit . If you choose to use the credit card, the sum of money will not be deducted from the card but, being blocked, it will be unusable until the moment in which the release takes place .
The rental company will request a pre-authorization from the credit card issuer and, once the security deposit has been released, the amount will be available againaccording to the rules laid down by the issuing institution. The pre-authorization of the car rental credit card is, therefore, a temporary block of a sum of money on the credit card or debit card.
Excess and security deposit for car rental: the differences
Security deposit and deductible are often confused because the amount of money provided for the two coincides, but they identify different concepts.
The deposit is the amount of money that represents a guarantee for the car rental in case of damages that are not refundable through the insurance. The deductible, on the other hand, is the amount of money actually charged to the customer , with which damage or accidents must be covered.
Security deposit and deductible are amounts that are established based on the vehicle chosen, the place of collection, the duration of the rental. Car rental companies offer many options to choose from in terms of insurance and coverage, and some give the possibility to opt for car rental without excess.
Read also: How to rent a car cheaply
