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Car Rental |
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The term car rental is used to refer to the temporary acquisition of a motor vehicle by paying a fee, usually specified as a daily, weekly, or monthly rate. There may also be other fees and charges associated with mileage, gasoline use, accident insurance, and navigation features. In some cases, a security deposit or credit card may be required. Restrictions may also apply to where the vehicle can be driven, who can drive it, how old the driver must be, and for what purposes the vehicle can be used. It's important to understand that car renting and car leasing are not the same thing. A vehicle can be rented for as little as a day but most leases start at 24 months. Leasing is a form of financing, like a loan, while renting is not. Renting does not require a credit check, while leasing does. Car rental companies vary in many ways. Many are national or international, such as Hertz and Avis, and can best handle the short-term rental car needs of traveling business people. Some are local and may better serve longer-term needs of, say, people who need a car rental after an accident in their personal car. Some car rental companies provide only certain makes, models, and vehicle types. Others have a broader selection of vehicles, including vans, SUVs, and trucks. Many people who are interested in buying a new car will actually rent a car of the same type for a few days as a way of test-driving before a purchase. Car rental prices vary widely, depending on company, area of the country, vehicle, and rental period. Therefore, it pays to shop and compare, especially if you intend to rent for an extended period. Read your rental contract before signing, especially the sections that explain your responsibilities in case of accident or damage. It's not necessary to purchase the optional rental insurance if your own personal insurance covers rental cars. Always do a "walk-around" of your car to make sure there is no damage. If damages are found, make sure the rental company marks it on your contract so that you won't be charged for it later. For more information,
see: The Lease Guide
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