Own vehicle is an asset for a person. A standard middle class family always give priority for own vehicle. People through different ways purchase vehicle and one of the most important sources of purchasing vehicle is by availing loan facility other than ready cash payment. Today a vehicle is a necessity more than a luxury. Even school students use two wheelers. The most used vehicle in a family all over the world are cars. There is a large sector of consumers of cars who use the cars on rental basis. Prime concern is given to people who have own car or vehicle that is not within their service due to several reasons. The car owners sometimes cannot use their damaged cars given for repair or service and owners who wait for insurance compensation mostly use the facility of rental car services. Some agencies give other vehicles like van or trucks on rental basis depending on the customer regarding the need and size of the vehicle.
Mostly the rented cars are not used for a longer period. There will be a stipulated period for the usage of the car and it has to be returned after the expiry of the rented period. The car or the automobile rental is normally undertaken by agencies. Each agency will have different local branches in the most important places in cities and towns where there is a high demand for rented cars. Usually rented cars are used for a shorter period of certain hours to few weeks or months. Many agencies provide online website reservation for the assigned vehicles for rent. Most of the branches of the agencies are located near railway stations, airports and busy city areas. This facility near the busy city areas are mainly focused on travelers particularly foreign travelers.
There are several methods for rental of the car. Some agencies provide additional features of GPS navigation systems, entertainment systems insurance and use of mobile phones and internet service. The vehicle is given for rent for a stipulated period for a fixed rent or fee. The fee might be fixed on rent basis or for lease. There is also a re purchase program as a buy back guaranteed price. There purchase method is with the manufacturer agreeing for a price that is not the original price at the time of resale of the vehicle after the expiry of the rental period. After the expiry of the rental period the vehicles are given in the re used vehicle market. This is usually done with the second hand or used vehicle market dealers by the rental car agencies after the expiry of the rental car agreement.
Various conditions are defined in the rental agreement that may change from place to place. A valid driving license for the divers assigned in the rent car agencies is the basic and compulsory requirement. The term of the car used on rent basis also varies according to the need of the customers and the agreement between the dealer and the customer.
There are specific speed limits defined in the agreement. Some agencies use the GPS for speed limit that shouldn’t exceed the maximum speed limit. The quantity of fuel used is also specified in rental agreement. In developed countries renewable fuel vehicles are used. Credit cards are most often used by the rental car agencies. The credit cards are used as security to impose additional fees if any damage happens to the vehicle during the rental agreement period.
There are several types of insurance coverage available. Loss damage waiver, supplemental liability insurance, personal accident insurance, personal effects coverage and excess insurance are the most used types of insurance provided for the rent a car customer.
The rent a car supplemental service is really a great alternative for people who have usage of the vehicle for a short period.