Returned a Rental Car: When Will You Get Your Deposit Back?

When you rent a car, the rental company always asks for a security deposit. That makes sense, since a rental car is worth a lot of money. The amount of the security deposit is usually placed on hold on your credit card. How does that work, and when is the deposit released? Below, we’ll answer these and other questions.

How does the security deposit work when you rent a car?

When renting a car, you always need a credit card. Not so much to pay the rental fee, but rather to serve as a security deposit. The amount the rental company requires as a security deposit is reserved on that credit card. This means the amount is frozen and deducted from your available credit limit. So make sure your credit card limit is more than enough to cover the security deposit for the rental car. And, of course, you’ll also need to keep enough available credit to pay for other things during your vacation with that same credit card.

Will the deposit be refunded immediately after you return the rental car?

If you return the rental car without any (new) damage and without any additional charges to be settled (such as traffic fines), the rental company will release the full deposit very quickly. However, you won’t always see this immediately on your account statement. It can easily take 10 to even 30 business days before the money is available again in your spending limit.

Is it taking longer? First, double-check to make sure the amount really hasn’t been released yet, and then contact your bank or credit card company.

The security deposit is always calculated in the local currency. If you rent a car in a country outside the eurozone, the amount you receive back may differ from what you expected. This is due to fluctuating exchange rates and may be more or less than you anticipated.

How does getting your deposit back work with a Worry-Free rental car?

Through EasyTerra, you can rent a car with the so-called Worry-Free label. With this type of rental car, the deductible for both collision and theft insurance is covered. So will you get your deposit back, even if you’ve caused damage? Yes, but usually not right away. In most cases, you’ll have to pay the amount covered by the deductible upfront, but we’ll reimburse you for it. Damage to the roof, windows, undercarriage, and tires is also covered for most Worry-Free rental cars.

Is the security deposit roughly the same for every rental car?

No, the deposit amount can vary considerably, depending on factors such as the car class, the deductible, and any extras. You can see the exact amount of the deposit when booking a rental car by clicking on the “Rental Terms and Conditions” link . These terms will also be sent to you by email once you finalize your booking. That way, you won’t be faced with any surprises.

The deposit is always calculated in the local currency. If you rent a car in a country outside the eurozone, the amount you get back may differ from what you expected. This is due to fluctuating exchange rates and can be either more or less than expected.

Car Rental: Security Deposit = Deductible?

People who rent a car often find this confusing: isn’t the security deposit the same as the deductible? No, the deductible is the maximum amount you’re responsible for paying if your rental car sustains damage. But you can waive that deductible if you rent a car with our Worry-Free label, as described above.

The security deposit also covers other items, such as damage to accessories like a GPS, traffic fines, and fuel. In most cases, the fuel policy is “full-to-full”: when you pick up the rental car, the tank is full, and you return it with a full tank. But if you don’t do that, the rental company will, of course, charge you for the missing fuel. This amount will be deducted from your security deposit, and you’ll always have to pay it yourself.