Welsh car rental company launches deposit-free hire across global network

Nation.Cymru staff

A Welsh car rental company is offering customers the option of hiring vehicles without paying potentially costly security deposits.

Cardiff-based Final Rentals has introduced the service across its franchise network in more than 65 countries, where its platform handles more than 100,000 rentals a year.

Traditional car rental deposits can range from €500 to €2,500 and can leave customers with substantial sums temporarily tied up on their credit cards.

Under the new system, customers can instead pay a daily fee for a financial guarantee which covers the rental company against costs such as vehicle damage, traffic fines, fuel shortages and administrative charges.

The service is being provided through a partnership between Final Rentals and financial technology company Cardoo.

Final Rentals says it is the first global car rental franchise network to make a deposit-free option available to all its franchise partners.

Individual rental companies within the network will decide whether to offer the service, either as an optional extra during the booking process or across their entire fleet.

Final Rentals was founded in Cardiff in 2019 and has since expanded into more than 65 countries, connecting customers with independent local car rental businesses through its booking platform.

Founder and chief executive Ammar Akhtar said: “I’ve always said I want to put car rental deposits in a museum. They belong in the past.

“Customers shouldn’t have to lock away hundreds or even thousands of pounds just to hire a car, and rental businesses shouldn’t have to spend time dealing with avoidable disputes.

“Making deposit-free rentals available to every partner across our network gives operators more choice while making the experience simpler and more transparent for customers.

“Becoming the first global franchise network to offer this across every market is an important milestone for us, and another step towards making deposit-free car rental the norm.”

The agreement with Cardoo was negotiated by Final Rentals’ head of sales Ricky Gamble.

Customer experience

He said: “Our franchise partners are always looking for ways to improve the customer experience while protecting their business.

“Deposit-free rentals remove one of the biggest barriers to booking and give operators another way to stand out in an increasingly competitive market.”

Cardoo works with more than 700 rental partners in 30 countries and says it has facilitated more than 240,000 deposit-free rentals.

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