Which Car Rental Company Has The Lowest Deposit? One of the main concerns when renting a car is the deposit. The deposit amount can vary widely among rental companies and can seriously impact your overall travel budget.
Knowing which car rental companies offer the lowest deposits can help you save money and make your rental experience more pleasant. This article presents some of the leading car rental companies and information on their deposit policies to help you make a good decision.
Top Car Rental Company Has The Lowest Deposit
Payless Car Rental
One of the car rental companies with the lowest deposit is Payless Car Rental. It is a smart choice if you want to save money. They offer low deposit options, which means you do not need to pay a lot. If you use a credit card, Payless will hold the estimated rental cost plus up to $250 on your card.
If you use a debit card, they will hold the estimated rental cost plus up to $300, which can take up to 14 days to be released back to you. Payless is perfect for those who want an affordable rental with a small deposit, making it easier to get a reliable car without spending too much upfront.
Dollar Car Rental
Another good option is Dollar Car Rental if you are looking for low deposits and flexibility with payment. They accept major credit cards like Visa, MasterCard, and American Express, as well as some debit cards. When you rent a car, Dollar will place a hold on your credit or debit card to cover the calculated rental cost.
The hold is up to $200 for credit cards and $500 for debit cards. This money will not be available for you to use during the rental period. Dollar’s deposit policy is simple and customer-friendly, helping you avoid tying up too much money while still getting a good car.
Thrifty Car Rental
Thrifty Car Rental also allows you to pay with major credit cards like Visa, MasterCard, and American Express, as well as some debit cards. When you rent a car, Thrifty will put a hold on your credit or debit card to cover the estimated rental cost. The hold is usually $200 for credit cards and $500 for debit cards.
You cannot use this money during the rental time. You can also use debit cards if they are linked to your Blue-Chip profile, but they are not accepted for premium vehicles or “PayNow” rentals. Thrifty may also check your credit if you use a debit card.
SIXT Rent a Car
When you rent a car from SIXT, they usually require a deposit of at least $200 plus the cost of the rental. This amount is held on your credit or debit card for security purposes and will not be available for you to use throughout the rental period. If you are renting a high-value vehicle, the deposit may be higher.
For credit cards, the deposit is held while you have the car. It is released within 24 hours after you return the car, but it might take 3 to 10 business days for the hold to go away. For debit cards, they charge the full amount and then refund within 5 to 15 business days after the rental is over.
Enterprise Rent-A-Car
For renting a car from Enterprise, you always need to pay a deposit. The deposit amount varies based on the rental location, type of vehicle, and rental duration. Generally, the Enterprise deposit is around $200, but it can be higher for larger or premium cars.
The company takes the deposit from your credit or debit card and you cannot use this amount while you are renting the car. If you want to use a debit card, check properly in advance as not all locations accept debit cards. Once you return the car, you get the deposit amount back. The process may take a few days for the funds to become available again, depending on your bank.
Hertz Car Rental
The next is Hertz car rental. The company will put a hold on your credit card for the estimated rental cost plus $200 when you rent a car. This hold covers any extra charges, and you cannot use those funds while renting the car.
Hertz typically removes the hold within 24 hours of returning the car, but your bank may take up to 10 days to make the funds available for you again.
If you use a debit card, the hold amount and release time depend on your bank’s policy. Remember, refunds by check can take up to 14 days. Hertz also accepts cash deposits but only in specific situations, like insurance replacement rentals.
Budget Car Rental
At the time you rent from Budget, you have to pay a deposit. The deposit amount depends on the location and payment method. If you use a credit card, Budget normally places a hold for the estimated rental cost plus 25% or $200, whichever is greater.
For debit card users, the hold usually covers the calculated charges but can be higher based on some factors, like location, car type, and more. These funds will not be available to you during the rental period.
At some locations, especially in the Northeast, the hold may be $500. Budget does not accept debit cards at all locations. Also if you use a debit card, the company needs to check your credit. The deposit amount changes, so it is important to check the specific terms for your rental location.
Alamo Rent-a-Car
When you rent from Alamo, you need to pay a deposit. The process is different for debit and credit cards. Debit cards must have a Visa, MasterCard, or Discover logo (though Discover is not accepted in Canada). At airport locations, you can only use a debit card if you have a ticketed return flight.
The deposit amount ranges from $300 to $400, depending on the vehicle type and location. Alamo will hold the funds on your card, which will reduce your available balance in your account. The car rental only accepts deposits on cards, not cash. Note, renters without a return flight must use a credit card.
National Car Rental
When you rent from National Car Rental, you are required to pay a deposit. The deposit process is different for debit cards and credit cards. Debit cards must have a Visa, MasterCard, or Discover logo (the Discover logo is not accepted in Canada). You must have a ticketed return flight if you want to use a debit card at the airport location.
National car rental generally charges a deposit from $300 to $400, based on the location and vehicle type. National Car Rental will hold this amount on your card, lowering your available account balance.
They do not accept cash deposits. Renters who are without a return flight itinerary must use a credit card for deposit. Active-duty military personnel do not need to follow all address rules, so they must check guidelines properly while renting a car from National.
Avis Car Rental
When you rent a car from Avis, you pay a refundable security deposit of $500. The company charges this deposit at the same time you book the vehicle.
If you cancel the booking, $100 or the rental amount, whichever is less, will be deducted. They refund the remaining deposit within 15 working days after you return the car.
Avis is famous for its premium services and wide range of vehicles. Although the deposit is a bit higher than other companies, it is a reliable option to rent a car.
Conclusion
So, whichever car rental company you choose, you have to pay a deposit amount. Each company offers different deposit requirements based on various factors such as location, vehicle type, and rental duration. Companies like Payless, Budget, and Thrifty are top options for those searching for the lowest deposits.
However, if you are looking for a balance between low deposits and premium service, companies like Enterprise, Hertz, and SIXT are excellent options.
Finally, the best choice depends on your specific needs and budget. By comparing the deposit requirements of these leading rental companies, you can find the perfect match for your travel plans, providing a hassle-free and affordable car rental experience.
