It is mandatory to submit a deposit while renting a car. Companies ask for this deposit since they do not want to incur any losses if the car is harmed in any way. When you return an unclean or damaged vehicle, the company can forfeit your deposit or give only a partial amount.
What amount do you need to deposit?
When you hire a vehicle from a long term car rental in Vancouver, the amount can range from $200 to $3,000. In some places, it is even a bit more than this. The amount varies depending upon the area and the car.
Different rental companies charge different rates based on their pricing policy. The amount is calculated as the sum of the excess on the Theft Protection Policies and the Collision Damage Waiver.
Mode of payment of the deposit
Car rentals charge the deposit on the driver’s credit card, and you cannot use a third person’s card to make the payment. These companies usually block the deposit amount. Blocking means that they won’t be charged the amount, but you can not spend it until unblocked. So, it is included in your spending limit.
In case you use a debit card, they would charge you from the debit card itself, and the deducted amount will show in your bank statement. You would hardly find any rental companies that accept cash or cheque. The payment has to be done through a debit or credit card only.
How long does it take to get the deposit back?
In most cases, cheap car rental in Vancouver takes 15 working days to refund your deposit after you have returned their vehicle. Reputed companies that have robust systems in place usually take five days. You can expect to get your deposit earlier during non-holiday seasons. Conversely, there can be a delay in the process during times like Christmas and Easter.
How to avoid paying a huge deposit for a rental car?
If you have your eyes fixed on a specific car, and the rental company is charging a fortune for it, there is another way. You can look for the same vehicle at other rental companies. If the said car is not available, you can look for similar vehicles. There is a possibility that the other company might ask for a lesser deposit.
Companies can also provide the facility of reducing the deposit if you buy your insurance from them. They can also cut excesses if they deem it fit to do so. Go through the paperwork carefully if you decide to buy the cover from them. It is not a bad deal if the company offers a good deal in exchange for the insurance.
If you are looking for an excellent Vancouver car rental airport, your search ends here. Independent Rent A Car is the answer to all your car rental needs. We boast of quality cars at affordable rates. You can reach out to us by dialing 604-689-4400. We ardently understand your requirements and accordingly suggest you a car.
