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!