If you are hoping to use cash to rent a vehicle, knowing the right questions to ask and doing research ahead of time will minimize frustration and make for a hassle free rental experience.
Form of Payment vs. Security Deposit
Although some rental companies claim they accept cash, what they may mean is that they will accept it as a form of payment, but the renter must still secure the rental with a major credit card–or a debit card, if the rental company accepts them. So when inquiring about renting with cash, be sure to ask if the company accepts cash, not merely as a form of payment, but also as a form of security, or deposit. This will clarify what they will and will not accept.
If you need to rent a car using cash only, understanding a few concepts will go a long way.
If you plan on using cash, you will more than likely have to pay for the entire rental upfront.
In addition to the cost of the rental, the rental company will want to ensure the safe return of their vehicle. This means they will want to secure funds in addition to the rental fees. Be sure to ask about the entire amount of cash necessary to rent the vehicle you need for your specific time period and destination.
The majority of companies renting cars, vans, and SUVs believe that renting a vehicle without the security of a major credit card, or a debit card with sufficient backup documentation, is too risky. Securing a rental with a credit card gives the rental company the ability to authorize more funds should the customer not return the vehicle on time, accumulate unforeseen charges, or if the rented vehicle sustains damage while in the renter’s possession. With a cash deposit, the company must anticipate the charges that will be incurred, but also encourage the fair and safe use of the vehicle. From the renter’s point of view, one can think of the difference between a credit card deposit and a cash deposit in these two ways: Negative Inducement and Positive Inducement.
If a renter has secured the rental with a credit or debit card, the prospect of returning the vehicle late, or otherwise incurring additional charges, results in the rental company securing additional funds from the credit or debit card: Negative Inducement. “Negative” because it results in a deduction of extra funds from the card.
If a renter has secured the rental with cash, the prospect of returning the vehicle late, or otherwise incurring additional charges, results in the rental company not returning as much of the cash as the renter expected at the end of the rental. With a cash deposit, the renter expects to receive funds back at the end of the rental, this is a positive inducement to return the vehicle on time, and without damage.
If you are in Phoenix and need to rent a vehicle with cash
At Phoenix Car Rental, we accept cash in the form of a deposit. This means you do not have to have a credit card or debit card to rent from us. You will, however, need the amount of cash necessary to secure the rental, as explained by the person quoting the rate on the phone.
If you are interested in renting a large Passenger Van, Minivan, or SUV while in Phoenix, Arizona, call Phoenix Car Rental to inquire about rates and qualifications or visit us at www.vanrentalphoenix.com. 602-904-3490.
To learn more about using cash to rent at with us, please visit our Cash Rentals page.