The Budget Car Rental Deposit: How Much They Hold and When You Get it Back
When you rent a car from Budget, the price you're quoted is for the rental itself, but it's not the only amount you'll see on your card. Like all major car rental companies, Budget requires a security deposit at pickup. This can be a source of confusion for many renters who are unsure how much the deposit will be and when they'll get it back. This guide explains everything you need to know about Budget's deposit policy.
The Short Answer
Budget places a temporary hold on your credit or debit card called a security deposit. For most credit card rentals, the hold is the estimated total cost of your rental or $200, whichever is greater . The hold is released after you return the car, but it can take your bank 3 to 10 business days to make the funds available again.
The "Why": Understanding the Authorization Hold
The security deposit, also known as an "authorization hold," is a temporary hold placed on your card to cover potential costs not included in the rental price, such as:
- Fuel charges (if you don't return the car full)
- Tolls or traffic violations
- Late returns or damage to the vehicle
This is not a charge; it is a hold. The money does not leave your account, but your available credit or bank balance is reduced by the amount of the hold until it is released.
Standard Deposit Amount (with a Credit Card)
For most standard rentals paid with a credit card , the deposit hold is:
The estimated total cost of your rental OR a minimum of $200, whichever is greater.
The Critical Difference: Credit Card vs. Debit Card
Using a credit card is always the simpler and recommended method. Using a debit card comes with stricter requirements and higher holds.
| Feature | Using a Credit Card | Using a Debit Card |
|---|---|---|
| Deposit Amount | $200+ (or estimated rental cost) | $500+ (often much higher) |
| Credit Check | No | Yes , a credit check is often run at the counter. |
| Hold Release Time | Faster (3-10 business days) | Slower (up to 14 business days) |
When Do You Get the Deposit Back?
This is the most common concern for renters. You've returned the car, paid your bill, and now you're waiting for the hold to be removed.
- The Process: When you return the car and the final charges are settled, Budget sends a signal to your bank or credit card company to release the authorization hold.
- The Timeline: While Budget initiates the release within 24 hours, it can take your financial institution several business days to process it and for the available balance to reappear in your account. The process is always slower for debit cards.
Frequently Asked Questions
What if the hold isn't released in time?
If it has been more than 10 business days (for credit cards) or 14 business days (for debit cards), first contact your bank to confirm they still see the hold. If they do, then contact Budget customer service with your rental agreement number. They can verify the release on their end and sometimes help expedite it.
Can I pay the deposit with cash?
No. Budget, like almost all major rental companies, does not accept cash for security deposits. You must use a valid credit or debit card in the renter's name.
Does the deposit hold affect my credit score?
No. An authorization hold is not a hard inquiry and does not impact your credit score. It only temporarily reduces your available credit.
Conclusion: A Standard Practice with a Predictable Timeline
Yes, Budget Car Rental requires a security deposit. For most credit card rentals, expect a hold of at least $200 or the total estimated cost of your rental. This is a standard industry practice. The key is to be prepared for it and to understand the timeline for its release. By using a credit card instead of a debit card, you will face a lower deposit amount and a faster release period. As long as you return the car on time and with a full tank of gas, you can expect your full available credit to be restored within a few business days.
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