This information is provided in summary form and you should conduct your own research before using any of the companies listed.  Information is subject to change at anytime.  (Emphasis added)

From the Hertz FAQs site:

Debit Card Policy-

Q: Can I use my Debit Card or Bank Card to reserve a Hertz car?

A: At most Hertz locations, debit cards (sometimes called check cards) issued under a VISA or Mastercard logo which draw funds directly from the cardholder’s account may be used to qualify for rental. However, prepaid or stored value cards which have a VISA or Mastercard logo are not accepted to qualify for rental. Debit cards must have available funds for the estimated amount of the rental charges plus a reasonable amount to cover any incidental charges in order to secure the rental. Both debit cards and prepaid or stored value cards issued under a VISA or Mastercard logo may be used as a form of payment when you return the vehicle. Please contact your local Hertz Reservations Office if you have a question about whether Hertz will accept a certain card.

Cash Policy-

Q: What can I do if I do not have a credit or debit card in my name?

A: Cash Rentals are accepted with a Cash Deposit ID Card. Applications for a Cash Deposit ID Card are available from your local Hertz Office. Applicant must be 18 years or older and the application process takes approximately 30 days. There is a $15USD nonrefundable processing fee. A Hertz Cash deposit ID Card may be used at a Hertz Location.

From the Enterprise Website-

Debit Card Policy-

Debit Card:

Some locations will accept a debit card for a rental deposit and/or payments. To be valid, a debit card must have a Visa or Mastercard logo.

Airport locations that are able to accept debit cards will require return trip itineraries.

Most local renters who would like to use a debit card for their deposit may need to complete a cash qualification process. The branch may ask for you to bring in two valid, current utility bills and your most recent paycheck stub.

It is common that a rental branch will require your drivers licence to be issued in the state you are renting.

We are happy to help you with policy information specific to the renting branch. Please contact us ahead of time to determine what is needed when renting with a debit card.

Cash Policy-

Cash:

For security reasons, our locations do not accept cash. We apologize for any inconvenience.

From the Avis FAQs-

Debit Card / Cash Policies-

Debit Card Policies

Avis reserves the right, in its sole discretion, to seek a Debit Card authorization hold in excess of the estimated rental charges. When using a debit card at Avis, there may be a minimum hold of $500 and a maximum hold of the estimated rental charges will be placed on your account.

Upon returning the vehicle, Avis will process a release of the unused portion of the hold subject to your bank’s procedures. The hold may take up to 2 weeks to be released by your bank.

If you fail to return the vehicle as agreed, Avis will obtain additional authorizations from your account to cover the rental charges.

Avis is not responsible for any returned checks or over-drafts based on this policy.

This policy applies to both U.S. residents and foreign renters.

Positive identification in addition to your driver’s license may be required.

In the United States, debit, cash or check cards can be used at the end of the rental for payment of rental charges. For acceptable credit identification and payment methods in countries outside of the U.S., please search for the specific location.

From the Budget Website-

Debit Card Policy-

Credit and Debit Card Rules

Generally, at the time of a U.S. rental, we’ll require a credit card hold of total estimated charges plus 25% or $200, whichever is greater. If you’re using a debit card at a location that accepts them, we’ll require a hold of total estimated charges plus 25% or $300, whichever is greater. However, for insurance/service replacement rentals and tour rentals, the minimum debit card authorization hold is $100. At select locations in the Northeast and North Central regions, the minimum authorization hold is $500. Renters under 25 years of age may not use a debit card. Look at the terms and conditions on your reservation confirmations for the deposit required at your specific rental location. Some select locations do not accept debit cards at time of rental to release the vehicle, but do accept debit cards for payment at time of car return.

Cash Policy-

Can I pay with cash?

Yes. Your deposit type, amount and method of payment will vary by Budget location.

From the National Website-

Debit Card Policy-

Debit Cards

When renting in the U.S., debit and check cards may only be used in conjunction with proof of a round trip travel ticket (airline, cruise ship or train) at time of rental.

A debit/check card is considered to be any non-credit card bearing the VISA, MasterCard or Discover Card logo.

Any other non-credit card without the VISA, MasterCard or Discover Card logo is not accepted.

For pick-ups in the United States, without proof of roundtrip ticket, debit or check cards are only accepted when returning the vehicle.

A credit card in the name of the renter must be presented at the time of pick-up.

Cash Policy-

Cash Rentals

Customers must meet National’s requirements for renting a vehicle without a credit card.

Only Economy through full-size vehicles can be rented with cash.

No Additional Drivers are allowed on Cash Rentals.

All cash rentals, including prepayments, vouchers, and the like will require a deposit of $300 per rental, in addition to the pre-calculated rental charges.

When the rental vehicle is returned in accordance with the rental terms and conditions, the cash deposit will be refunded upon return of the vehicle, and in some instances, the refund will be mailed to the customer following the return of the rental vehicle.

Summary:

Almost every major rental car agency WILL rent a car without a credit card.  Most, however, will place a “hold” on your debit card for the full rental price, plus, in most cases, an added deposit.

When it comes to payment, most will accept a debit card as payment when you return the automobile.  Available options appear to be:

A) Reserve the car with a company that allows you to use a debit card.  If you do this, be sure that you bank account has a sufficient amount to cover the deposit, the hold, and any other charges that you might incur.

B) RESERVE the car using your credit card and PAY for the car rental using cash or your debit card.

While I do not use a credit card to make purchases, I do carry one in my wallet.  If necessary, for the security of my family, I would use the credit card to reserve a car and then pay cash for the rental when I returned the car.

Before renting an automobile, understand a company’s policies.  Do your own research and call ahead if you have questions.  While I was compiling this information, I did not take into account ANY insurance-related policies.

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Can I Rent A Car Without A Credit Card?

I was sifting through some old paperwork today, and I stumbled across an old letter from our bank.  It was dated September 8, 2005.  I was pleased to see that it was a notice from our bank, informing us that our car loan had been paid-in-full.  I smiled as I put the letter back in its place and then I went searching through the No Credit Needed Archives – for a quick trip down memory lane.

On August 29, 2005, I sent the final payment to our bank and paid off our car loan.  It’s hard to believe, but it’s been four years since we’ve had a car payment.  And to think, I used to be one of those folks who assumed that I would “always have a car payment.”

Instead of making car payments, I now make payments to myself.  Each month, I put an amount equal to a car payment in our savings account.  When and if we need to buy a newer car, we’ll do so out of our savings.  Instead of going in to debt, and paying interest, we are able to remain debt free, and earn interest as we save.

A couple of years ago, we used this technique and purchased a new-to-us automobile, with cash.  While it hurt to write a single check for such a substantial amount, it felt good to feel “in charge” of the car-buying experience.  I didn’t have to worry about payments or interest rates.  Instead, I was able to focus on price.  As a cash buyer, I didn’t have to worry about being approved for a loan.  I was able to find the car I wanted, negotiate from a position of strength, and rest assured, knowing that I had enough money to complete the deal.

Right now, I’m saving up to replace my old truck and my eight year old Honda.  As I work toward these goals, I’m in no hurry.  In fact, a mechanic buddy has my truck, right now, and is giving it a good tune up.  Since I only use it to carry off the trash and do work around the yard, it might be another decade before it needs to be replaced.  I keep the Honda serviced, and I’m hoping it will last me several more years, as well.

It is impossible to explain how good it feels to live without automobile payments.  Sure, our cars are a little older and we have to be proactive in our planning, but all of our efforts are so worth it.

For those interested, you can click here to read about our debt reduction journey.

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Four Years Without A Car Payment

A few months ago I hit a deer with my car.  After a little internal-debate about whether to have the car repaired or trade it in for something newer, I decided to keep the car and have it repaired.  I happy to report, the car has been repaired, and it looks great.

I have a high deductible – $1000 – and it felt a little strange writing a check for that much money for repairs on a nine year old car.  Thankfully, I actually have a budget-category, labeled automobile repair, from which I withdrew the deductible payment.

It’s so important, when creating a budget, that I remember unplanned-for expenses.  My wife and I own three automobiles, each with a $1000 deductible.  Instead of relying on our emergency fund, which is really there to protect us should one of us lose our job, we prefer allocate funds, on a monthly basis, for the specific purpose of paying our deductibles.  Each month $250 ($3000 / 12) is set aside, in my ING Direct Orange Savings Account.  Since the accident occurred last year, I used money allocated in 2008 to pay for the repairs.

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My Car Has Been Repaired

Confession time.  I’ve been thinking about buying a new-to-us car.  And by thinking, I mean obsessing.

A little back story -

My wife and I own three paid for automobiles – a minivan we paid cash for in 2007, an 2001 Accord we paid off in 2005, and an old pickup truck that I use for hauling off trash.  When we purchased the minivan back in 2007, we did so because our previous minivan was dying, and I didn’t want my wife to drive around in an unsafe automobile.  I felt, and feel, that buying the newer minivan was a good idea.

Back in November, I hit a deer with my car.  The insurance adjuster visited, and I now have an estimate for the repairs.  The collision with the deer really bummed me out – but it also got me to thinking – Do I really want to spend $1000 – my deductible – to fix an automobile that is 9 years old?  Perhaps I should just sell the thing, and buy something newer?!?

Fast forward -

And so, for the past several weeks, I’ve been debating about what to do with the car.  Should I sell it, should I keep it?  Should I fix it, should I drive it as it is?  Should I buy something newer, or should I get the Accord repaired?  At the end of the day, all of this self-talk managed to do was one thing -

It kept me from admitting the truth to myself!

See, I kinda, sorta want a newer car, and the collision with the deer was just the excuse that I needed to justify the purchase.  Plus, I’ve done really well over the past few years, and I deserve a newer car.  Right?!?

There, I typed it.  I’ve been trying to convince myself that – as a reward for making prudent financial decisions – I should reward myself with a new car.

Instead of just spending the $1000, which I have, and repairing the Accord, I’ve seriously considered dipping into my savings and buying something nicer.  Heck, for a fleeting moment, I even considered buying a brand new car.  In that fleeting moment, I could actually smell that new car smell, wafting up as I tooled about town in my sweet new ride.

Thankfully, I have snapped out of my own funk, re-read several of my old posts, and come to my senses.

I do not need a new car.  My Accord is in great shape – aside from the deer damage – and once it’s fixed, it will look (almost) as good as new.  And, if I continue to change its oil on a regular basis, get it serviced regularly, and keep good tires on it, I should be able to drive it for several more years.

So, I’ll spend the $1000, get the car fixed, and continue to drive it.  Sure, it wold be fun to have something newer, but the reality is, it’s just a car.  All I need it to do is get me from point A to point B, safely.  If I have to spend a little money, each year, to keep in on the road, so be it.  I’d much rather pay for (reasonable) repairs than to pay for an entirely new automobile.

For a few weeks, I almost got caught up in the power of car fever.  Thankfully, I did not listen to my temporary emotions and I chose to stick with my long-term game plan.

What about you?  Have you ever talked yourself into a bad financial decision?  Or, conversely, have you ever talked yourself out of one?

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Getting Real With Myself About My Car

It’s time to celebrate!  PT from Prime Time Money paid off his car loan!

Now, PT wants to know – What To Do When You Pay Off The Car?

Let me agree with PT when he writes:

Take Time to Celebrate – First, give yourself a good pat on the back for knocking out this debt. Consider a celebratory car wash and a photo op next to your car with the title in your hand.

Awesome!  PT is right!  Paying off your automobile loan – and actually owning you car – feels awesome.  (You can click here to read about the day we paid off our automobile loan – and how, just two-and-a-half years later, we purchased a new-to-us minivan, with cash.)

I love how PT is thinking.  Paying off debt is one thing, but staying out of debt is the ultimate goal.

Here are a few of my suggestions for what to do after you’ve paid off your car loan:

1.  Spend a little extra on car maintenance.

2.  Continue to make car payments – but make them to yourself!

3.  Call your insurance company and see if your rates might be lower, now that you own the car.

4.  Every time you get newer car fever – remind yourself how awesome a payment of zero feels!

I hope you’ll zip over to PT Money, congratulate PT, and tell him NCN sent you!  Debt Reduction Rocks!

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No More Car Payments

A few days ago, I called my automobile insurance company and informed them that a deer had hit my car.  The insurance adjuster just left, and he gave me an estimate of $2500 to fix the damage done to my car.

Now I have a decision (or two) to make.  Just a few days before the collision with Mr. Deer, my wife and I talked about selling my car (and my old pickup truck) and buying a newer truck.  I’d love to have a truck that was big enough to carry our whole family.  There are five us, and we can’t fit in my standard-cab F-150.

Out of pocket, I’m looking at a $1000 deductible to fix the car.  I really don’t feel like spending that much money, especially on a car that I might sell anyway, but I don’t want to drive around in a busted car, either.

Right now, I’m thinking about -

1.  Paying the $1000, having the car fixed, and keeping the car.

2.  Paying the $1000, having the car fixed, and selling the car.

3.  Selling the car, as is.

If I keep the car, I’ll keep the truck.  The truck will not sell for all that much, and I am not going into debt to buy the newer truck.  If I sell the car, I’ll also sell the truck.  I’ll take the money I make an put it towards a newer truck.

I’ll let you know what I decide.  Right now, my gut tells me that I’ll just pay the $1000 and keep the car, but I think it’s worth running the numbers, just in case I can find a good deal on a used truck.

Click here to read about how I paid cash for our minivan last year.  I’ll use a lot of the same techniques when / if I decide to buy a newer truck.

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The Insurance Adjuster Has Given Me An Estimate

With all of the talk about high gasoline prices, I thought that it might be interesting to track how much gasoline we used while on vacation.

Distance

Estimate (according to Google Maps): 287 miles

Actual distance going to the Condo: 283.9 miles

Actual distance returning from the Condo: 277.10 miles

On the way, we traveled mostly on Interstates. On the way back, we used a couple of side-road, so there is a slight difference in actual mileages.

Speed

Estimated travel speeds (prior to trip): 60-80 mph

Actual average speed going to the Condo: 69.9 mph

Actual average returning from the Condo: 68.4 mph

Travel Time

Estimated travel time (prior to trip): 287 miles / 70 mph = 4 hours and 6 minutes

Actual travel time going to the Condo: 283.3 miles / 69.9 mph = 4 hours 4 minutes

Actual travel time returning from the Condo: 277.10 / 68.4 mph = 4 hours and 4 minutes

Amazingly, according to our GPS, it took EXACTLY the same amount of time to travel to and from the condo. The trip home was actually 15 minutes longer, due to the fact that we stopped to eat supper. The times above represent ‘actual time driving in the car’.

Gasoline Usage

Estimated gallons of gas to be used (prior to trip) = 287 miles / 21 mpg = 13.66 gallons

Estimated cost of a gallon of gasoline (prior to trip) = $3.80

Estimated gasoline cost to go to the Condo (prior to trip) = 13.66 gallons = $51.91

Actual gallons of gasoline used to travel to the Condo: 283.3 miles / 21.9 mpg = 12.94 gallons

Actual cost of a gallon of gasoline used to travel to the Condo: $3.80

Actual gasoline cost to go to the Condo: 12.94 gallons = $49.17

Actual gallons of gasoline used to return to the Condo: 277.10 miles / 21.4 mpg = 12.95 gallons

Actual cost of a gallon of gasoline used to return from the Condo: $3.89

Actual gasoline cost to return from to the Condo: 12.95 gallons = $50.38

Totals

Our trip, to the Condo and back, covered 560.40 miles and our van used $99.55 worth of gasoline. Surprisingly, we actual had better gas mileage on our way to the Condo, even though our average speed was slightly higher. I’d would attribute this to the fact that on the way back, we had more items in our van. Plus, we faced a lot more stop-and-go traffic.

All-in-all, $100 isn’t a lot to spend, if the trip is worth it. And, I couldn’t have been more happy with our condominium or our trip as a whole. The kids had a blast and the weather was amazing.

As a side note: We used a minimal amount of gasoline while at the condominium, but I didn’t want to spend my whole week, tracking gasoline usage. I’m a nerd, but not THAT much of a nerd! Also, gasoline in Florida, at least along the roads we traveled, seemed a bit higher than gasoline in Georgia. Of course, this could be due to the fact that we were in a more ‘touristy’ area.

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How Much Gasoline We Used On Our Vacation

With all of the talk about high gasoline prices, I thought that it might be interesting to track how much gasoline we will use while on vacation.

To The Condo Estimates: Distance And Speeds

Distance between our house and the condo (one way) = 287 miles

Travel speeds between our house and the condo (average) = 60-80 mph

Most of the trip (276 miles of it) will be spent driving on the interstate. 11 miles of the trip will be on standard highways and roads. For calculations sake, I’ll assume an average speed of 70 mph.

To The Condo Estimates: Travel Time

Time between our house and the condo (one way) = 287 miles / 70 mph = 4 hours and 6 minutes

Time spent stopping to eat lunch and take breaks for the kids = 1 hour

Total estimated travel time = 5 hours and 6 minutes

To The Estimates Estimates: Gasoline Usage

Average miles per gallon of gasoline = 21 mpg

Our van has a digital gauge which measures, among other things, miles per gallon and miles left until tank is empty. Tomorrow, I’ll fill up and make a note of how much I put into the 20 gallon tank. Over the past two weeks, the van has averaged 21.4 mpg. During the trip, our family of five, plus all of our luggage and stuff for the new baby will be packed into the van, so I’m assuming that the average miles per gallon will decrease, at least a little.

Gallons of gas used = 287 miles / 21 mpg = 13.66 gallons of gasoline

Cost of a gallon of gasoline = $3.80

Estimated gasoline cost to go to the condominiums = 13.66 gallons = $51.91

I’m a pretty average driver. I like to hit the interstate, set my cruise control on about 75 and just ride. Today, I changed the oil in the van, checked the tires, and changed the air filter. The back of the van will be loaded down with our suit cases and a small cargo bag will ride on top of the van. Once we arrive and get settled, I’ll let you know if I did a good job of estimating our travel time, the amount of gasoline we used, and the cost of gas.

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How Much Gasoline Will We Use On Our Vacation: To The Condo Estimates

In October we paid cash for a new (to us) minivan. Here are some thoughts, about the minivan, six months later -

Value – I think that we got a great deal. By going with a used van, our total costs were about 60% less than they would have been, had we gone with a new van.

Ride – Our minivan is a Chrysler – and it has a quiet, comfortable ride. In fact, when you sit in the front seat and crank it up, it’s hard to tell if the engine is running, it’s that quiet. The front seats have plenty of legroom, but the back two sets of seats are a little cramped. We own the ‘base’ model – and it’s short for a minivan. But, our kids are small and there is more than enough room for them and their friends. In fact, due to the fact that it’s smaller than our old van, our daughter, who sits on the very back bench seat, can look over and check on the new baby.

Features – The van came equipped with satellite radio and the middle seats have built-in child restraints. Other than that, the van has pretty basic features. With three kids and ball practice, the cloth seats work just fine. We wish that the van had power-doors, but when trying to save money, there are times when we must with the fact that we can’t have everything that we want. I would love to have a factory-installed navigation system, but, for now, we just use our inexpensive, portable GPS. – So far, the van hasn’t given us any problems. The tires were new when the van arrived and windshield wipers are in good shape. The oil has been changed twice and it has a new air filter. From time to time, there is a ’squeaking noise’ that comes from the inside of the the right-rear door. When we take the van in for it’s 60,000 mile tuneup, I’ll ask our mechanic to take a look at the door. Other than that, everything about the van is great.

I must say, we have really enjoyed our new (to us) minivan. I was hesitant about purchasing an automobile sight-unseen, but everything has worked out, really well. My wife loves the van and she even lets me drive it, from time to time.

Side note – For those of you who might be interested, baby number three hasn’t been born yet. My wife is resting in the other room, as I type this, so I’m trying to be very, very quiet. In fact, just to be on the safe side, I’d better go outside and vacuum out the van, just in case ‘today is the day’! New babies rock!

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Automobile Updates – How The New (To Us) Minivan Is Working Out

2007 was an amazing year for me, NCN, and my site, No Credit Needed. I thought that it would be fun to take a month-by-month tour through my favorite posts from the last year. If you are a new reader, I hope these posts will give your a sense of who I am, where I’ve come from, and where I’m trying to go. If you are a long-time reader, thank you for your support.

Here are a few of my favorite posts from October of 2007.

October 3 – Day 24 Of 33 Days And 33 Ways To Save Money And Reduce Debt: Roth IRA – Find out what happens if you invest $4,000 for 25 years at 8%?

October 9 – What Is An ESA? – Coverdell Education Savings Account

October 9 – Reader Poll – Are You Debt Free? Share Your Story – This poll is still open! Over 600 people have voted and several have shared their stories. Go vote.

October 15 – How To File A Fraud Alert With Credit Bureaus – I lost my wallet and I had file a fraud alert.

October 18 – Are You Hiding Debt From Your Spouse? This post was inspired by a segment featuring Suze Orman on the Oprah Show.

October 19 – How I Live Without Using Credit Cards – My Simple System For Living On A Budget – This is one of the most popular posts here at No Credit Needed.

October 22 – I Just Purchased A Mini-Van – How I Purchased A Used Vehicle Without Borrowing Money

Throughout February, I’ll continue to highlight my favorite posts from 2007.If you haven’t done so, please consider subscribing to No Credit Needed. (It’s free!)

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2007 – No Credit Needed Year-End Review (October)