What is the caution money for?
The caution money is practically the only nuissance the client has to cope with. It is a real obstacle for some potential clients, a formality for others. If the client is creditworth, the caution money does not have to be any problem nor cost for him . The caution money is implemented by car rentals for their and yours protection. Its height depends on the value of the car. In most cases it starts on 10.000,- CZK for small cars and it grows on according to increase of the class. The caution money is always paid with renting the car in the form of cash or by blocking the payment card.Some car rentals can have special requirements, e.g. blcking the creit card or possibility of guarantee with a bill of exchange. he car rental will return the money in cash or unblock the amount on the card after returning the car. This process can také several days.
Guarantee for the car rental
The caution money is then for the car rental guarntee for the car which has much higher price during the time of lease. They cannot use the moneywhich is blocked on the card without you knowing that except for exceptional cases. Such a ces can be an accident, theft of the car, late return, not filling up fuel, forgetting cleaning or other facts according to the contract. If such a situation happens, the car rental will keep the money till counting all costs. Afterwads rest of the money will be given back to you.
Motivation for you
Although it does not have to be noticed at first sight, the caution money is favourable for you, too. It is a tool of motivation thanks to which grows probability that you return the car in time and in good condition. Car rentals usually have their cars monitored, so in case of delay of return, they are able to find them with the help of police. This intervention is however very expensive and the coats are paid by the client. There fore is the caution money easier and much cheaper tool of motivation.
Tips for reducing the caution money
If you are going to rent a car at least several times a year, consider getting a credit card for this purpose. Blocking finances on the card is practically free of charge and what´s more you do not have to have several tens of thousands in reserve.
Also car rentals offer for regular clients more favourable conditions including reducing the caution money as a sign of trust.