What is a Security Deposit?
A security deposit is a sum of money that a customer pays to the car rental company in order to cover any additional charges that may occur during the rental period. The security deposit can be held by the car rental company until it is returned to the customer.
The amount of the deposit will vary depending on the type of vehicle but is typically about two or three times the cost of your car rental. It is important to note that your security deposit should not be more than one week’s worth of your rental price, as some companies will charge additional fees for late returns or damage incurred during your contract.
Why Security Deposits are Important?
Security deposits are an important part of car rental offers, and they can be used to cover any damage or loss if you have a problem with your vehicle during your rental period.
The most common type of security deposit is the cash deposit which is refundable, but some companies require you to use a credit card, debit card, or other forms of payment that you must pay before your rental period starts. You will also be asked to sign a document stating how much money you will be charged for any damages or losses that occur during your daily, weekly or monthly rental period.
Extra Deposit Policy
Some companies may require additional security deposits if there are things like pets, smoking, or drinking in the vehicle or if there are any other specific things that need to be taken care of before releasing the vehicle back to you.
If you encounter any problems with your car during your rental period it is important for you to contact the company as soon as possible so that they can resolve the issue quickly and efficiently.
When will you get your car rental security back?
Most companies release the security deposit within 20 days after the car is returned by the customer. But, here’s a condition, the 20-day return policy is only applicable if the deposit is 100% clear. If there’s an issue or a deduction in your deposit, the security return might take longer than 20 days. And rentalcarsuae also follow the same policy.