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Why Car Rental Companies Insist On Credit Card For Obtaining Reservation?

All the major car rental companies insist on payments
by credit card. This is a standard practice because
credit cards are fast, secure and reliable.

Almost every company in the field of car renting
demands a credit card while renting the car. Apart
from seeking credit card, an authorization is also
obtained.

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This is basically done to cover any expenses related
to potential damages that may be caused due to a
number of factors. In short, the credit card is a kind
of security deposit against damage or loss that may be
caused.

In case the car is returned in perfect condition, no
charge is levied by the car rental company. In such a
case, the only fee charged is the rental fee.

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If there is any damage to the car, the car rental
company will instantly charge the damage cover. This
is done as per the terms and conditions of the
agreement.

The car rental company does not add up to the credit
immediately after renting the car. The only amount
that is charged is an advanced charge approval.

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This means that some amount is reserved by the car
rental company from the credit card. This amount is
reserved as an amount that you may have to pay in case
of damage to the car.

The car rental companies do not accept debit cards or
a check card. The main reason is because it is not
possible for the car rental companies to process
advance charge approval for the car damage.

A Car Donation With Cash Back - Even The IRS Says OK

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When it comes to purchasing that shiny new car, you might be confused as to whether you should pay cash or finance it. With all the talk about personal finance these days, most people are either on one side of the fence or the other. You have one group of people who pay cash for everything and don't believe in having any debt at all. Then there is another group of people who finance all kinds of stuff with the intention of paying everything off quickly. There are pros and cons to each approach that we will discuss below.Perks of using CashWhen you pay cash, you get the perk of not having a monthly car payment to deal with. The feeling of not having to scratch out a check each month to pay for your car is a great one. Plus, if you run into any kind of financial, job-related or medical issues, you don't have the worry of paying your car payment each month. When you pay cash, you also eliminate the need to pay finance charges and interest each month.Measure Twice, Cut OnceWhether you pay cash or finance a car, it's likely to lose value almost as soon as you drive it off the lot. That's why it takes careful consideration to make sure that you're making the right decision for your personal financial situation. Much like a house, purchasing a car is a large financial investment and requires forethought to make sure that you're not going to put yourself in tricky financial waters.

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When it comes to purchasing that shiny new car, you might be confused as to whether you should pay cash or finance it. With all the talk about personal finance these days, most people are either on one side of the fence or the other. You have one group of people who pay cash for everything and don't believe in having any debt at all. Then there is another group of people who finance all kinds of stuff with the intention of paying everything off quickly. There are pros and cons to each approach that we will discuss below.Perks of using CashWhen you pay cash, you get the perk of not having a monthly car payment to deal with. The feeling of not having to scratch out a check each month to pay for your car is a great one. Plus, if you run into any kind of financial, job-related or medical issues, you don't have the worry of paying your car payment each month. When you pay cash, you also eliminate the need to pay finance charges and interest each month.Measure Twice, Cut OnceWhether you pay cash or finance a car, it's likely to lose value almost as soon as you drive it off the lot. That's why it takes careful consideration to make sure that you're making the right decision for your personal financial situation. Much like a house, purchasing a car is a large financial investment and requires forethought to make sure that you're not going to put yourself in tricky financial waters.

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