What determines the amount of deposit required on a rental?
On all rentals, COOP charges your credit card a security deposit in addition to the total amount of a reservation.
The security deposit amount varies based on information gathered from Dun & Bradstreet and your Compliance, Safety, Accountability (CSA) score.
You will see the deposit amount in the cost breakdown of the bill summary page before reserving a vehicle on the platform.
For questions regarding deposits, please contact us at 1-866-268-4229 from Mon. – Fri. 8 am – 5 pm EST and Sat. & Sun. 8 am - 2 pm EST.
Security Deposit Refunds
Your security deposit will be refunded within 2-3 business after the completion of a successful reservation which includes the following requirements:
- The Owner has not reported any damage.
- Tolls, mileage, and outstanding invoices, including any roadside service charges, have been paid.
To check the status of a completed rental, you can log into your account and click the "Reservations" tab in your dashboard to view your transactions.
Once a deposit hold has been refunded; it could take between 3-7 business days for the amount to reflect on your account, depending on the processing time of your credit card company.
Why was a hold placed on my credit card when I requested to reserve a vehicle or extend a reservation?
When you submit a new rental request or ask to extend an active reservation, and you are paying with a credit card, a hold in the amount of 50 cents is placed on your card to confirm that the credit card on file can be transacted with and there was no mistake in the entry of the information provided for the reservation or extension. The full charge occurs when the reservation is accepted by the Owner of the vehicle/s.
Learn moreHow is mileage charged on COOP?
Once an Owner has accepted your reservation, you will be charged a prepaid mileage fee in addition to your security deposit. Upon vehicle return, your mileage payment will be adjusted based on the actual mileage used.
Learn moreWhat is included in the costs of a COOP rental?
The price you see includes mileage, refrigerated hours (if applicable), incident costs if any are incurred, and a service fee on every rental that we collect to support our platform.
Learn moreHow do rates compare to what I would see at a rental counter or in the market?
COOP offers a wide variety of equipment with prices that are competitive with local rental counters and the market. Our innovative Smart Rate tool allows Owners with listings on the platform to consistently provide the best prices to Renters.
Learn moreWill I be charged tolls on COOP rentals?
Toll costs are your responsibility as the vehicle’s operator, they will be added on to the price of your rental or paid by you along the way.
Learn moreDo I need to pay a deposit?
Once an Owner has accepted your reservation, you will be charged a prepaid mileage fee and a security deposit.
Learn moreWhat happens with my deposit once the vehicle is returned?
If the total amount owed for the rental upon return is less than your deposit, we will refund the difference to your card.
Learn moreWhat methods of payment are accepted by COOP?
COOP accepts all major credit cards for deposits, prepaid mileage fees, and vehicle rental payment.
Learn moreWhat if I have to dispute a charge?
If you see an unexpected charge on your account, contact our team through the Support Center. A representative will be able to help with the charges on your account.
Learn moreWhy is my card getting declined?
Your cards may have been declined for various reasons. Our COOP team generally doesn’t know the specific reason it was declined.
Learn more
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