Can You Rent A Luxury Car with A Debit Card?

Rent A Luxury Car with A Debit Card
There are several companies that offer luxury car hire in Tuscany, but you need to choose the one that best suits your requirements, preferences and budget. The company that you choose must also be reputed in the industry for its quality and variety of fleet and its excellent customer service.

Renting a luxury car is something we all look forward to. Whether you are used in traveling in luxury cars or you want to rent it, for now, to make a style statement, renting a luxury car is a luxury in itself. There are several companies that offer luxury car hire in Tuscany, but you need to choose the one that best suits your requirements, preferences and budget. The company that you choose must also be reputed in the industry for its quality and variety of fleet and its excellent customer service.

Now that you have made up your mind to rent a luxury car and you have shortlisted a few car hire companies as well, the next big thing you have to think about is how you would make payment for it. Most customers choose to pay their car rent with their credit cards. But if you don’t want to use it or if you don’t have one, then you must be wondering whether you can pay it with your debit card or not. The simple answer is yes! But there are certain conditions you have to meet and certain formalities you have to fulfill. Let’s talk about them in detail.

Credit Card Vs Debit Card

Many financial experts suggest not to have a credit card at all. You will usually not have any problem in making your rental car payment with your debit card, provided that you are debt-free and can hold a surplus rental cost on to your account, which can range from $200 to $500, depending on the rental company. It is a fact that many car rental companies prefer a credit card over and debit cards because the latter poses a greater risk for payment. A credit card usually comes with some sort of insurance coverage, which means that in case of any damage, the credit card company will cover it to the rental car.

Renting a car with debit card - debit cards in pocket

Why Car Rental Companies Favor Credit Cards

When you ask a car rental company, they will more likely prefer accepting payments with a credit card rather than a debit card. This is because when you rent a luxury car from them, they hand over a valuable asset to you that you drive away with. The company wishes a recourse in case you do not return it or damage it. When you pay with a credit card, it reassures them that

  • you are a real person with identity proof, as your credit card company must have vetted your identity
  • you can be trusted because you must have a good credit score
  • you can pay the rent and cost of any damages
  • you are trusted because the credit card company gave you an unsecured credit
  • you will return for sure to get back your deposit and hold

In case you pay your car rental with a debit card and if you don’t return their car, it will become difficult for the car rental company to recover their funds from you. A credit card can help them track you down and get their money back.

Steps to Renting a Luxury Car on Debit Card

Although all car rental companies may have different steps and rules, here are a few common ones:

  • The car rental company may decide to run a credit check on you. If you have a low credit score, then you may need to give a higher deposit, or they may straightforward refuse to rent you their car.
  • They will more likely place a hold on your debit card while renting the car. This means that you will not be able to use the amount of hold until you return their car back. So, apart from the travel expenses, you need to have some extra money in your bank account that you can place for hold.
Luxury Car for rent on display

The amount of hold usually ranges from $200 to $500, varying from one company to the other. It actually works as a security deposit that they return to you when you return their car. In case there is a damage in their car, they will deduct the amount from that security deposit. You will need to place a hold while paying with the credit card also, but that doesn’t matter much in that case, unless your credit limit is low.

  • In addition to showing a valid driving license, you will need to show some other identity proofs as well while paying with a debit card. These ID proofs may be your passport or your utility bill that has the same address written in your license.
  • You may need to show your auto insurance card to prove that you have car insurance. Sometimes, the car rental company may also call your insurance company for policy verification. So, be prepared for this, as all these formalities may delay your rental process.
  • Some companies may also ask you to show proof of your return trip, such as a plane or train ticket, hotel booking, etc.
  • Some companies may refuse to rent you a car on a debit card if you are less than 25 years of age

Other Restrictions and Formalities

If you are renting a luxury car and want to pay the rent with your credit card, then you will need to meet the following requirements:

  • Your debit card must be issued by the bank, and not prepaid
  • You must cooperate in running a credit check
  • You will have to place a security deposit
  • You will need to show multiple identity proofs
  • You must show insurance proof
  • You may be asked to show proof of pre-paid travel

So, if you are planning to rent a luxury car and you want to pay for it using your debit card, then above we have mentioned the pros and cons of doing that and what conditions you will have to meet. However, the rules may be different from one luxury car hire Tuscany company to the other. So, you need to check with your car rental company, know the amount of hold you have to place and make your final decision.

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