Yes, Budget Car Rental typically requires a refundable security deposit to cover potential incidental charges. The deposit amount is authorized on your credit or debit card when you pick up the vehicle and is released upon the car's return, provided there is no additional damage or charges. The specific amount varies but is generally in the range of $200 to $500, depending on the vehicle class, rental location, and your payment method.
Using a debit card often results in a higher deposit and may involve a credit check. The funds are placed on hold by your bank, not actually charged, but they are unavailable to you during the rental period. The release time after returning the car depends entirely on your bank's policy, not Budget's, and can take 3 to 14 business days.
| Vehicle Class | Estimated Security Deposit Range | Key Factors Influencing Amount |
|---|
| Economy/Compact | $200 - $300 | Location, rental duration, driver's age |
| Standard/Full-Size | $250 - $350 | Use of a debit card vs. credit card |
| Premium/Luxury | $350 - $500 | Added extras like GPS or child seats |
| SUV/Minivan | $300 - $450 | Local regulations and franchise policies |
| Speciality Vehicle | $500+ | Insurance coverage selections |
To minimize the deposit hold, using a major credit card is your best bet. Always inspect the vehicle thoroughly for any pre-existing damage before leaving the lot and report it to avoid being held responsible. Understanding this process upfront helps manage your finances and ensures a smooth rental experience.
