I'm going to be renting a car in Australia in a couple of weeks and the bond/deposit is 5000AUD. I'll be sticking this on my credit card but I'm not sure how it will affect the credit limit... I'm assuming it'll count as coming off the card when it's held and will come off the available credit limit?
Rental car bond and CC question
- Thread starter Amp34
- Start date
5000AUD seems like one hell of a deposit, I would suggest looking elsewhere, I know for my week in Italy the deposit is £900.00
I have taken out additional insurance which means I will not have to worry about an accident or if someone drives into the car and drives off for £50.00 worldwide for the year.
http://www.insurance4carhire.com/
I think its worth it - I am going to Italy and Australia this year, the Italians drive like idiots.
I have taken out additional insurance which means I will not have to worry about an accident or if someone drives into the car and drives off for £50.00 worldwide for the year.
http://www.insurance4carhire.com/
I think its worth it - I am going to Italy and Australia this year, the Italians drive like idiots.
I think it may vary depending on company whether they put a hold or actually take the money.
Bear in mind if they do take the money then refund in full on returning the car undamaged you may still be out of pocket due to exchange rate differences/ foreign purchase loading your card may levy.
In what circumstances will you lose your bond? Is it treated just like an excess?
Bear in mind if they do take the money then refund in full on returning the car undamaged you may still be out of pocket due to exchange rate differences/ foreign purchase loading your card may levy.
In what circumstances will you lose your bond? Is it treated just like an excess?
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yeah mate thats almost a 3k deposit.. Are you sure this is for renting? Thats kinda like a purchasing deposit.
If thats yer deposit Id definatley recommend hire car excess insurance
If thats yer deposit Id definatley recommend hire car excess insurance
Thanks for that, that's far cheaper than even hire car reduced excess.
And $5k is a joke, who the hell you hiring it from,
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The excess deposits in Oz vary depending on who and where you hire from. Due to the nature of the roads in the outback, the car hire companies charge a larger amount for the deposit. The roads in the outback are classed as 'unsealed' so its more like driving on a large dirt road rather than concrete
It also depends on the size of the car your hiring...sounds to me like you are hiring a large sedan, convertible, a 4x4 or a people carrier?
Sounds to me like you have also got your hire with Europcar/National/Alamo or Hertz? If I remember correctly from my car hire days, they are the ones with the big deposits
Edit: Also a lot of the time they will not take the whole amount as a deposit. They will do a validation on the card to ensure that should they need to, they can take the money.
Be weary of Insurance4Carhire. They are a good company and yes we used to recommend them (unofficially) to people hiring in Oz, but you will still have to leave the security deposit.
It also depends on the size of the car your hiring...sounds to me like you are hiring a large sedan, convertible, a 4x4 or a people carrier?
Sounds to me like you have also got your hire with Europcar/National/Alamo or Hertz? If I remember correctly from my car hire days, they are the ones with the big deposits
Edit: Also a lot of the time they will not take the whole amount as a deposit. They will do a validation on the card to ensure that should they need to, they can take the money.
Be weary of Insurance4Carhire. They are a good company and yes we used to recommend them (unofficially) to people hiring in Oz, but you will still have to leave the security deposit.
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It's a pretty horrendous deposit yep, but it's a 4x4 so not unreasonable. I've already taken out insurance with a separate company which is why I've got to pay the deposit. As mentioned above I'd have to pay the damages and then claim the money from the insurance ccompany.
That's basically the question, what is a hold? Does it get held and come off your available credit or does it not affect your limit until the company take some money off if you damage it? I'm guessing the former as it makes little sense otherwise.
That's basically the question, what is a hold? Does it get held and come off your available credit or does it not affect your limit until the company take some money off if you damage it? I'm guessing the former as it makes little sense otherwise.
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Like I said, if you are using a credit card then the chances of them taking it off in full are slim. They will just do a hold on your card so they can access it if you decide to run off with the car. This is what they tend to do in America and Australia
I know with one supplier in the States they would just hold $1, yet another would hold $250.
Who have you hired with? If it is someone like AutoEurope (a broker) then call them and ask them to contact the supplier and ask them direct. The company I used to work for would do this for customers
Modified my post as it was written when there was only 1 reply! Oops...
Basically the reason I'm asking I'd because that bond plus the car hire costs will put me close to the credit limit on my clarity card (so no fees),. That means I'd then have to use another card to buy other things like fuel when I'm there. On the other hand it doesn't look like it's going to be as much of an issue as cash may be king with the exchange rate plummeting again, I'll load up on that very shortly...
I can't remember off hand but I do know the company so can ask them, it's more a hold question though, if it's on hold is that included in the available limit or taken off (eg credit limit - AUD5000 is your available balance while the hold is in place).
Basically the reason I'm asking I'd because that bond plus the car hire costs will put me close to the credit limit on my clarity card (so no fees),. That means I'd then have to use another card to buy other things like fuel when I'm there. On the other hand it doesn't look like it's going to be as much of an issue as cash may be king with the exchange rate plummeting again, I'll load up on that very shortly...
I can't remember off hand but I do know the company so can ask them, it's more a hold question though, if it's on hold is that included in the available limit or taken off (eg credit limit - AUD5000 is your available balance while the hold is in place).
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Yeah you still need to leave a deposit, however any excess will be covered by the insurance company. It makes me feel more nervous driving around in a crappy fiat panda in Italy with the knowledge that the slightest prang that's not even my fault could potentially lead to me losing £900.00.
Using the insurance I can relax and enjoy my holidays.
Ive rented many cars over the years, and am actually from australia who is now living in the UK. Basically a hold is like a payment transaction on your card. They will take X amount and this is not a payment that will be adjusted with the conversion rate. So whatever money is taken, that will be the same amount that will be 'refunded' or released after you return the vehicle.
Example: lets say your Credit card has a max limit of £5000. You currently have used £1000 and have £4000 left to play with. The Deposit will take £2500 which you will not have access to during the hire. Thus, now you will only have £1500 for your other expenses on the card. You then buy £500 worth of goods while hiring the car and have a balance of £1000.
Then when you return the vehicle, and after roughly 5-10 days they will refund the money back and you will have a balance of £3500.
Hope that helps
Example: lets say your Credit card has a max limit of £5000. You currently have used £1000 and have £4000 left to play with. The Deposit will take £2500 which you will not have access to during the hire. Thus, now you will only have £1500 for your other expenses on the card. You then buy £500 worth of goods while hiring the car and have a balance of £1000.
Then when you return the vehicle, and after roughly 5-10 days they will refund the money back and you will have a balance of £3500.
Hope that helps
Not a problem mate, that's definitely how it is. Whoever has told you otherwise is definitely incorrect!