MSE News: Paying a deposit to hire a car? Beware the exchange rate trap

Former_MSE_Nick · 12 July 2016 at 6:28PM

Holidaymakers who rent a car overseas from at least four major firms risk losing a chunk of their deposit simply because exchange rates shift while they're using the vehicle, MoneySavingExpert.com can reveal...

Read the full story:
'Paying a deposit to hire a car? Beware the exchange rate trap'

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WhoIsThat · 12 July 2016 at 9:15PM

Look on the bright side. If the pound falls (which seems the general direction presently) against whatever currency they take as a deposit (as you say, it's only certain locations anyway) then you'll be quids in :money:

Don't forget, same principle applies if you buy something from a shop, and for whatever reason, you return it later for an agreed refund.

photome · 12 July 2016 at 9:27PM

As whoisthat says, it works both ways.

I have paid deposits for USA hotels in the past then cancelled and made money due the exchange rate shifting in my favour.

Is this a non story?

richardw · 12 July 2016 at 11:47PM

The article hints at a general problem with car hire and that's franchising. They seem to let too many franchisees do different things without policing them.

KTF · 13 July 2016 at 10:57AM

If the exchange rate had gone the other way would these people have asked the car hire company to collect the difference from them?

skid112 · 13 July 2016 at 1:15PM

what a waste of web space 'ooh look rip off' with a cursory one line it could work in your favour

MSE News: Paying a deposit to hire a car? Beware the exchange rate trap

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