PCO car hire companies often require a deposit fee from the drivers which is also known as deposit security fee. You might know the reason and the concept of security deposit but, in order to make it clearer, we are going to read the exact meaning in more details together to make sure we have understood it properly. Then we will offer ways not to pay a security deposit fee for those who can’t afford it and then at the end you can read how to have a car hire without a deposit. So let’s get into it!
This article contains the following terms
- Why is deposit required?
- What can I do if I couldn’t afford the security deposit fee?
- Which countries support no security deposit car rentals?
- In what ways the security deposit is accepted? In what way is it not refunded?
- How to hire a car without deposit?
Why is deposit required?
Well, there are two reasons that a car hire company will ask you a security deposit:
- The car you hire is full of fuel and you won’t need to refill it for the first hours or days of driving. The same, when you return the vehicle, you have to feel the tank. If you don’t do it, the car hire company is allowed to use the deposit in order to fill the tank like the day you received it.
- By using a PCO car, some damages might be done on the vehicle. Someone might steal the car. you might have, consciously or unconsciously, got a PCN and never paid it. The security deposit fee can be used for probable damages, stolen cars and paying the fines.
Although the security deposit can be way more or much lower than the harms, for all the car hire companies, it is necessary to receive a deposit or something with the same value.
Another thing to mention here is that, while you are driving a PCO car, you might harm a third party by an accident (which can be considered as the second reason for paying a security deposit fee). This harm can be done to their properties or their lives and this can include killing, hurting, damaging, etc. The third party also can be your own passenger, pedestrians, other drivers and so on.
Considering the security deposit fee, shows your responsibility to these types of damages and as you are liable to pay for any damages done to the third party, the deposit fee would cover all or a part of the compensation.
What can I do if I couldn’t afford the security deposit fee?
You are right! Some people may not be able to pay the security fee and as a solution you can pick one of the ways below.
- You can ask the company for weekly installments to pay it little by little or ask the company to deposit something with the same value of the security deposit fee.
- The other way to pay no security deposit is to choose a deposit free plan of the PCO car hire company. Although not all the companies would have these kinds of plans.
Of course the second option is both cheaper and better, but, you may not be able to find it in all countries! Note that here at G&M Direct hire, you can choose either the first or the second mentioned solution.
Which countries support no security deposit car rentals?
Not all the countries providing PCO car hire, accept the “no security deposit car rental” plans. Here is the list of the countries supporting the plan:
- The UK
Hopefully, in the UK this plan is approved and here, at G&M Direct Hire, you can find the plan as well.
In what ways the security deposit is accepted? In what ways is it not refunded?
You can either keep the deposit fee in your credit card or your debit card. This totally depends on the terms and the conditions of the company you hire a PCO car. Note that, before signing any contract with the PCO car hire company, you have to read the paper carefully and see what the conditions are. Once you sign it, you are all responsible for it.
It is good to know that some PCO car hire companies are more classic and will ask you to put the deposit in cash! As we mentioned, it depends on the terms and conditions of the company.
If you wonder when the deposit fee is not refunded, you need to know that:
- If the car rental company found any damage on the car, they can take an amount or the whole deposit money as compensation. So, you may not be fully refunded.
- If there is a PCN in the time you rent the car, a part or the whole deposit will go for it and you will not be fully refunded.
- If there is not enough fuel in the tank, you need to either fill it or pay for it! That’s when you may not be fully refunded.
- If there is a postponed weekly rental fee by you, the company can take as much as the one week rental fee of the deposit fee then you won’t be fully refunded.
Generally, similar situations as above can lead you not to be refunded completely.
How to hire a car without deposit?
You can simply find “No security deposit” plans on our company by searching through the website. The point is, tahe car rental no deposit required is usually for a higher weekly rental fee (as we mentioned in the solutions of omitting security deposit fee, you will be required to pay a weekly installment). At first it might not look fair but the good point of it is that you won’t have the stress of keeping the security deposit fee in your account until returning the vehicle. Beside the liability would be less as you are sure you have already paid for probable damages and harms to the vehicle.
Uber-ready PCO Car Rental in London – Uber Car rental
As the last thing to know, G&M Direct Hire, requires the minimum deposit fee of 500 which you can hardly find in the similar companies in the UK. Therefore, it is more affordable for drivers
Although considering the security deposit fee is much better than hiring a no deposit car, some people may not be able to pay or keep the balance in their credit card. As a solution, some companies in order to make it easier for drivers to hire a PCO car, offer a plan called hiring a PCO car without a deposit fee. In this article we mentioned what this plan is about and where to find it. We also mentioned the reasons a PCO car hire company would ask you for deposit or installments. We hope that reading this article would be helpful to all the PCO drivers planning to hire a no deposit PCO car.