Exotic Car Rentals with No Deposit, Too Good To Be True?

If you’ve done any research into exotic car rentals, chances are you may have noticed that policies differ from one company to the next. Because exotic car rental is still a niche market there isn’t a black and white regulated way by which various dealers rent their vehicles making policies differ significantly from one rental company to another. Whereas one company may hold a $5,000 security deposit another may hold a $1,000 security deposit and some companies even advertise as “no security deposit”.

Now let’s back up a little bit for those of you who may not have done THAT in depth of research into this process. Basically, most exotic car rental companies usually insert small barriers to entry in there rental process to ensure these investments are being rented to the right type of clients, this is not to scrutinize but to hopefully limit the amount of risk the company is taking by putting that car on the road for a certain period of time.

Security deposits are left in either cash or as a hold on a card and are meant to basically absorb any small incidents that may occur during the rental process. These incidents include small scuffs on the bumper, small dents in the door, or scratches on wheels, cracked windshields (you get the point). The reason we hold these deposits is just to ensure the next client who rents the car from you feels like they also are getting there moneys worth and aren’t being given a “ragged out ride” per say.

Though, the idea to some of not leaving any sort of security deposit sounds appealing at first, people often don’t consider the ramifications of eliminating this barrier to entry bring to the table. For example, if a company does not hold a security deposit, what do you think happens to that scratched wheel or cracked windshield? I’m sure your initial answer would be that they must fix it! Right? I mean if you’re offering an exotic car rental with no deposit surely you’re telling the customer that you’re a business which is willing to absorb all those small scuffs for the benefit of the customer…the answer unfortunately… is no. More often then not, by eliminating these barriers to entry these companies are just “patching things up” or just renting it as is.

Now, we don’t know about you…

But if we were paying $800-$2,000 for a day or a few hours in a car, we want it to feel worth it. A lot of times people get so caught up in the price there paying they forget about the quality of what they’re renting! We hear more horror stories than that hit book series from the late 90’s called “GooseBumps” (lol).

All kidding aside, just consider this, if someone is renting a car and leaves no deposits what do you think that rental car smells like after 100 rentals if they don’t charge people for smoking in the car? If they don’t charge for scuffed wheels or scuffed bumpers what do you think the bumper of that car looks like? What about the wheels?

Ok…I’ll admit I’m beating this to death a little, but the fact is you get what you pay for when it comes to exotic car rentals. Don’t expect that $500 per day Rolls Royce Ghost with unlimited miles to be a bright shiny 2018 with new car smell, expect a 2010 Rolls Royce Ghost with say…62,000 miles, worn seats, smoky smell, peeling tints, cracked windshield, scuffed whe

els and a scratched bumper…now if you’re coming to Miami and want to look like a baller I don’t know if thats your best look when for an extra $200-$400 a day you can get a brand new Rolls from Veluxity!

At the end of it all, we just want to make sure that YOU the customer, is happy with your choice. There are so many different rental companies to choose from, we are not nieve and expect you’ll rent from us just because of this article, but we have seen the insane scenarios some customers find themselves in and are pained by some of the stories we’ve heard from clients who worked elsewhere before choosing Veluxity. Regardless of where you rent your car whether it be New York City, Miami, Las Vegas or Chicago, we just want to make sure you do your due diligence!

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Most Commonly Asked Questions

But if I have insurance, why do you hold my damage deposit?


Damage Deposits are held for any damage that occurs on your rental.This means any damage done to our vehicle will be held from your damage deposit which you can later invoice through your insurance agency for reimbursement. We bill $300 for scuffed wheels (per wheel), $500 per damaged tire (if rubber has been removed from the sidewalls) and $1000+ for major dings/scratches/body damage on the body. We also have found a direct correlation between the funds held and how our vehicles are treated, we expect our vehicles to be treated as if they were your own.




If it rains can I get my money back? Can I cancel my reservation and get my money back?


We ask all clients who leave a deposit on a car to be 100% committed to the reservation. We do not offer refunds for early rental returns, rainy days, or any other types of returns. We are actively turning down reservations for that same vehicle you reserved once you've reserved it, this is why we can't afford to give you money back for circumstances that aren't within our control.




Do I need insurance to rent a vehicle from Veluxity?


Yes. All renters must be 24 years of age or older and possess full coverage insurance on an existing vehicle that is transferable to rental vehicle (specifically an exotic/luxury vehicle). If you have a liability only insurance policy it will need to be upgraded to full coverage at least 24 hours before your rental. We currently offer no exceptions to this policy, unless you have an AMEX Centurion or Platinum card with viable traveler insurance.




Can I rent the car for one day on a Friday, Saturday, or Sunday? How about renting it for a few hours?


Unfortunately we do not offer hourly rentals, and we do not secure one day rentals in advance on weekends. If you happen to be reading this on a Friday, Saturday or Sunday if we have a vehicle that hasn't been rented for our two day minimum we can possibly offer a one day rental. The reason our policies are set up this way is because from a business standpoint this industry is a weekend business. For that reason, we can't tie up a vehicle for one day on a weekend because we will more often than not be turning down a 2 to 3 day rental for that same time period.





for more in depth answers to questions you can view the FAQ on our homepage here.

FIND US

Veluxity Exotic Car Rental

283 N Bedford Road

Mount Kisco NY, 10549

Hours: 9AM-8PM Mon-Sun

Veluxity Exotic Car Rental Chicago

1454 W. Willow St.

Chicago IL 60642

Hours: 9AM-9PM Mon-Sun

Veluxity Luxury Services Miami

164 NW 20th St #105

Miami FL 33127

Hours: 9AM-9PM Mon-Sun

Veluxity Exotic Car Rental NYC

2 Park Ave 20th Floor

New York NY, 10016

Hours: 9AM-8PM Mon-Sun

Veluxity Exotic Car Rental CT

177 West Putnam Avenue

Greenwich, CT  06831

Hours: 9AM-8PM Mon-Sun

Veluxity Exotic Car Rental NJ

146B Ferry St

Newark, NJ 07105

Hours: 9AM-8PM Mon-Sun

Outstanding Service, Guaranteed.

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