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Using the Turo car sharing app to book a car for your trip is easy, effective, and cheap. So cheap that you can get a car for as low as $25 a day. However, there are additional fees, and many people wonder if a deposit is involved. Let's find out.
Turo does charge a deposit on Deluxe Class and Super Deluxe Class cars. Depending if you are under the age of 30 and your location, the cost of this deposit will vary. You are billed separately for the deposit during booking and will be refunded 80 days after the trip ends.
This article will break down Turo's security deposit guidelines in great detail. It will go over which cars include it, how much you need to pay depending on your region if you get refunded when you don't, and how precisely it works. If you are worried about what the deposit will cost, read on to get a clear picture.
Turo will charge some of its users a security deposit in certain situations where they opt to reserve a luxurious (high-value) vehicle.
This will include charging some U.S. and U.K. customers a security deposit based on their auto-insurance score, trip details, and numerous other factors. Turo will also charge a deposit for people booking a high-value car wanting to travel from the U.K. to the E.U.
Additionally, they will charge a security deposit to customers under the age of 30 who want to book a car that is Deluxe and to all guests who opt to reserve a Super Deluxe Class car.
Do You Have To Pay Turo A Deposit?
The deposit is a mandatory fee when guests choose one of the options above or the situation calls for it, and neither the host nor Turo can remove or waive these deposit fees.
How Does The Deposit Work With Turo?
When booking a vehicle through the app, the deposit amount will be displayed on a separate line via the checkout page. Furthermore, Turo will process the deposit as a separate transaction, meaning you will see two payments on your payment card (one for the booking and one for the deposit).
Turo opts to bill you for the deposit as a separate transaction so that it can be refunded after a certain period of time once your trip is complete.
How Much Is The Deposit Fee For Turo
Depending on your region, there will be a different fee for the security deposit. Take note that Canada and the U.K. have their own allocated fees while all other regions will align with and pay the same fees that are for the U.S.
The Deposit Fee For The United States And Other Regions
If you are under the age of 30, then Turo will charge you $750 to reserve a Deluxe car. All customers will be charged a deposit fee of $750 to book a Super Deluxe car.
Additionally, Turo's security system may charge you an extra $200 based on factors like the trip's details. Note that this is done by the system automatically; if your booking is subject to it, you can't forgo it.
The Deposit Fee For Canada
Customers based in Canada that are under 30 years old will need to pay a $1,500 (CAD) security deposit for a car that is Deluxe. All guests will be subject to a $1,500 (CAD) deposit when reserving a car that is Super Deluxe. Take note that, unlike U.S. customers, there is no other additional fee that Turo's security system implements.
The Deposit Fee For The United Kingdom
Lastly, if you are a resident in the U.K., there is no deposit fee based on age. Rather, there will be a £500 security deposit fee for customers booking a Deluxe car and a £1,000 deposit for a Super Deluxe car.
Additionally, guests wanting to reserve travel in the E.U. will be charged a £1,000 security deposit fee. Lastly, customers may be subject to an extra £250 deposit if Turos security implements it due to considering additional factors like the trip's details (as is done with U.S. customers).
Can You Get A Discount On Your Turo Deposit?
Turo only has the option to give its U.S. and Canadian customers discounts on their deposits. For U.S. guests, a $250 discount can be obtained by submitting their personal insurance information during the booking when the app prompts them to do so.
Note that this must be done during the booking process because Turo can't apply any discount.
Customers from Canada can also get a $500 (CAD) discount by submitting their personal insurance information during the reservation process.
When Will Turo Give Back My Deposit?
In most cases, Turo will refund your deposit 80 hours after your trip has ended. Take note that once Turo has processed the refund, then your credit card company or bank will refund you within their allocated timeframe.
- Refunds to debit cards (10 business days)
- Refunds to credit cards (5 business days)
- Refunds to Apple Pay or Google Pay (up to 30 days)
There are a handful of circumstances when Turo does not refund you your deposit;
Accepting A Post-Trip Reimbursement Invoice
If the host sends you this type of invoice, and you accept, Turo will pay them with funds from your deposit, and any balance left over will be refunded to you. If there is a dispute, Turo will decide if you are liable, pay the host, and refund you your money accordingly.
If The Host Files A Damage Claim
If the Turo host files a damage claim, then Turo will pay them to cover the damage with your deposit and refund you the balance, and once again, if there is a dispute, Turo will determine if the claim is ineligible; if so, you will be refunded in full.
Requiring Roadside Assistance And You Are At Fault
If you require roadside assistance in the U.K., have reserved your car through a peer-to-peer host, and the cause is due to your negligence, then the roadside services charges will be deducted from your deposit. Any balance will be refunded to you.
We discovered that, in fact, Turo would charge you a security deposit based on which type of Turo car you decide to book. The two types of vehicles are Deluxe Class cars and Super Deluxe Class cars. Depending on the region and your age, you will be charged a different amount and additionally be charged an extra fee if Turo's security system dictates so.
Luckily enough, all deposits are refunded to your original payment method 80 days after the trip has ended and, in some cases, will not, depending on the situation.