When trying to rent a car, it can be amazing the amount of technical legal jargon that can pop up and confuse what should be a relatively simple contract. Unfortunately, since you are the one who signs the contract, it is your responsibility to know what every little piece of legal jargon actually means. Here are a list of the most common terms you will run across, and the best layman's explanation for each.
-Actual Cash Value means purchase the price of the vehicle when they bought it minus depreciation, to give the current value of the vehicle (mostly for insurance purposes).
-Exotic Vehicle includes a large list of expensive vehicles that include: Alfa Romeo, Aston Martin, Auburn, Avanti, Bentley, Bertone, BMC/Leyland, BMW M Series, Bradley, Bricklin, Cosworth, Citroen, Clenet, De Lorean, Excalibre, Ferrari, Fiat, Iso, Jaguar, Jensen, Jensen Healy, Lamborghini, Lancia, Lotus, Maserati, MG, Morgan, Opel, Pantera, Panther, Pininfarina, Rolls Royce, Stutz, Sterling, Triumph, TVR, and Yugo. These types of rentals are not common, and usually require special insurance and additional fees, though if you have the money to rent this kind of a vehicle, you probably already knew that.
-Insured is the person named on the rental form.
-Insurer is whoever has coverage, whether it is a policy bought from the rental place or an outside source.
-Rental Return Date is the agreed upon return date listed on the car rental agreement. It is extremely important to honor this agreement in order to avoid some very serious difficulties.
-Rental Start Date is the rental date listed on the car rental agreement.
-Traveling Companion means a person or persons who you plan to travel with. Please note that this person is not covered under insurance to drive the car unless worked out at the time of the contract.
-Trip means the full period of time on the rental agreement.
Knowing some of the basic jargon can help you dodge the problems that might otherwise arise, and will let you be able to read a contract like a pro, and enjoy your vacation with ease!
