Renting a car seems to be the perfect option for many people. But what would if they do not have credit cards? People often ask whether it is possible to rent a car with a debit card or not. It is absolutely possible but may be with a lot of conditions. Most car rental companies do not allow people to rent a car with their debit cards, since not owning a credit card is seen as a credit risk. Car rental companies consider debit card renters as high risk renters since they would have nothing to do if they return the car with an empty tank or refuse to pay for the damages.
However the scenarios are changing and companies are looking forward to rent cars to people preferring not to use their credit cards. It is true that you may be able to hire a car with your debit card, but there are a few things you need to know. They are:
You need to deposit some cash
Car rental companies allow renter to use their debit cards if they agree to pay cash deposit. The deposit amount varies from $100 up to the cost of the entire rental. The cash deposit can be used by the car rental company to meet the additional expenses (in case of accidents, toll charges, etc.) in case the renter refrains from paying it.
You may face credit checks
Well known car rental companies often perform credit checks before allowing people to hire cars using their debit cards. By performing the credit check they can assess the risk associated with the renter and liability of the user. If your credit score is too low, you may be unable to rent a car. Moreover, every time someone performs a credit check, your FICO scores gets lowered.
You may have to provide extra identification
People willing to rent a car with their debit cards must carry extra identification documents such as passports, utility bills, etc. Make sure the extra identification documents have the same name, address, and contact numbers as that of the driver’s license. This is done to make sure the debit card renter does not run away with their cars.
You may not be able to hire a car of your choice
Car renters using debit cards may not be allowed to hire a car of their choice. The basic cars may only be available for debit card renters; so when willing to hire a car it is best to have a talk with the car rental company. Car rental companies refrain from allowing debit card renters to hire luxury cars to minimise the risk factors.
Car rental policies differ greatly with each car rental company, especially if you are willing to hire a car with your debit card. So you must check the policies or have a talk with the car rental staffs to understand the policies and extra conditions that may be applicable.