All you need to know about the rental car deposit

Are you getting ready for an epic road trip or a relaxing weekend at the beach? If you're planning on renting a car, there's something you should know before you hit the road: the "security deposit" that rental agencies require.

But don't worry, it's not as complicated as it sounds. In this blog, we'll explain clearly and simply what it is, how it works, and how you can avoid it.

1. What is a credit card deposit and why is it important?

When you rent a car, the rental company places a pre-authorization hold on your credit card. This hold is a security measure that ensures you can cover additional costs that may arise, such as fines, damage to the car, or extra rental days.

But keep in mind that this deposit is not a definitive charge, it's just a temporary "freeze" of a portion of your credit line. For example, if you have a credit limit of $10,000 dollars and they block $1,500 when you rent, you will only have $8,500 available for other expenses until your deposit is released.

2. Is a pre-authorization the same as a charge?

Not exactly. Although both operations appear in your account, a pre-authorization only blocks an amount, while a charge represents a processed payment. A pre-authorization does not generate interest and disappears after a while, while a charge remains recorded as an expense.

So how can you tell them apart?

Pre-authorization: On your transaction voucher, you will see the word "Check-in."
Charge: You will see the word "Venta" on your transaction voucher.

3. How does the hold process work?

The procedure is quite simple. When you arrive at the counter to pick up your car, the sales agent enters your card into the terminal, enters the hold amount, and you confirm with your PIN. This generates a "Check-in" voucher that serves as proof.

When you return the car, if everything is in order and there are no extra charges, the agent performs the closing or "check-out" operation, releasing the hold and giving you a new voucher. From there, the bank will release the funds.

4. How long does it take to release the hold?

In most cases, the hold is automatically released after a few days, although this period may vary depending on each bank. While some reflect the release immediately, others can take up to 8 days or more. If you use a Mexican card, this process generally does not exceed 30 days.

5. What to do if my deposit is not released?

Wait at least 8 days from the closing of your contract for the bank to process the update. If the problem persists, contact your bank and provide the check-in and check-out vouchers. If you have further questions, contact us before three months have passed since the end of your contract.

6. Tips for a hassle-free rental

Also keep in mind this important information to avoid setbacks in your rental:

The bank has the last word: The speed and handling of the deposit depend on your bank.
Use only credit cards: For the hold, make sure your card is a credit card, as debit cards do not work the same for this process.
The bank's app can be confusing: You may not see the movement reflected in your app, but the pre-authorization is still valid.

7. Can you rent a car without a security deposit?

Yes, you can. MÁS Rent A Car offers the option to rent a car without a deposit by booking directly on their website for certain locations, including Cancun, Playa del Carmen, Tulum, Puerto Vallarta, and Los Cabos. To qualify, you must present an official ID, a valid driver's license, and arrival and departure plane tickets.

In addition, your reservation must include Full coverage, either by adding it to your reservation or by selecting the MÁS Total option. See all participating locations and terms here.

8. Why choose MÁS Rent A Car?

At MÁS Rent A Car, we understand how valuable your credit line is. That's why we work to offer you one of the lowest holds on the market: as low as $1,500 pesos in most cases. This way, you can enjoy your trip without worrying about high deposits.

We are ready for you to start your next adventure with complete peace of mind! If you are looking for a transparent and simple rental experience, we are your best option. Book your car with MÁS and discover the difference.

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