What Is a Car Rental Form?
A car rental form is a document that vehicle rental companies always use to acquire personal information from the vehicle renter. It demands the renter’s personal information, lays out the payment terms, and provides the car’s basic information. At the end of the form, a terms and conditions clause can be found that the renter has to read and understand before signing the form.
How to Create a Car Rental Form?
According to Statista, the user penetration for car rentals for 2020 is at 3.6%. And it is forecasted to reach 7.1% in the year 2024. The future looks promising for car rentals despite the number of its competitors, such as taxis and ride-hailing applications such as Lyft, Uber, and Ola. North America continues to dominate the car rental market, followed by Europe and the Asia-Pacific (Mordor Intelligence).
Create your car rental form in these easy steps:
1. Supply a Section that You Can Fill Out
This section entails the time and date of the vehicle check-out and check-in. Aside from these, you must also provide an odometer reading upon the vehicle’s check-out for transparency purposes. It will be easier for you to look at the check-in and check-out time and dates when retrieving the document from the file drawer.
2. Leave a Section for the Renter’s Personal Information
Write down the renter’s name, home address, date of birth, phone number, driver’s license number with the expiry date, and the state in which the license was issued. Ask for the renter’s auto insurance and the mode of payment, e.g., cash, credit card, etc.
3. Provide a Separate Section for Additional Drivers
The driver may be married or is bringing a friend on a trip. Provide a special section for additional drivers just in case they need to switch drivers throughout the trip. The necessary information should be the same as the original renter’s information.
4. Add the Payment Terms and the Car’s Information
There should be a section that states the amount that the renter has to pay daily or weekly. The car model, car type, license number, and the gas tank reading in percentage should also be embedded here. The car type may be an SUV, MUV, Economy, Executive, or Luxury car.
5. Add a Terms and Conditions Clause
A Terms and Conditions clause makes the renter temporarily assume all the responsibilities about the vehicle. It indemnifies the rental company from all the injuries caused by the driver’s negligence and damages to the vehicle itself. Once the renter has read, understood, and consented to the terms and conditions, they may sign the form with the date signed.
Frequently Asked Questions
What should my car rental form include?
Your car rental form should include the renter’s personal information, financial information, the car’s details, and terms and conditions clause at the bottom of the page. Try to look for samples as a basis to get the form right. You shouldn’t be at the losing end by failing to provide pertinent sections in your rental form.
How do I compute the payment for a car rental?
Most car rental company owners wait for the whole 24 hours to pass before it can be considered a day. You are then billed according to the number of days you have used the vehicle. Other fees and taxes are also paid on top of the total bill. Issue a receipt after the renter has paid the rental payment.
When are the benefits of having a car rental form?
The car rental form places accountability on the renter. If the car was misused, missing, or damaged, you know who to look for to compensate for the damages. The same form temporarily transfers the responsibility to the renter. The paper is also handy to document which car gets rented the most and which car gets rented the least.
When should I issue the car rental form?
Make sure to provide the form before handing the keys to the renter. Once they express interest in renting a vehicle, hand them the form, and ask for official identification cards to certify their identities. Make sure that they have read and understood the terms and conditions so they know what to expect.
Should I provide auto insurance before having the car rented?
Yes. According to The Simple Dollar, some insurance companies provide auto insurance through a collision damage waiver (CDW) or a loss damage waiver (LDW). These types of insurance cover your car in case of accidents, vandalism, or in case your car gets stolen. But sometimes, the renter has auto insurance that fully or partially covers damages, vandalism, and/or stolen cars. If your renter has said insurance, indicate in the terms and conditions clause to communicate with their insurance agent first regarding the coverage.
Not everyone has the luxury to buy their car, but given a chance, they would. If you are a rental company owner, then you might share the same sentiments of these individuals. You probably had their distress in mind when you established your company. But even with your genuine intentions, you cannot protect yourself from people with ill intentions—that’s why you need to protect yourself by making use of a car rental form. With as simple as filling out a form, you are putting a sense of accountability on the renter. So, if you want your business to stick around for a long time, use a car rental form, for starters.