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

Former_MSE_Nick

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

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

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

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

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

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