Faq

HELP FOR RENTERS

CARRENTERS ACCOUNT

How much does it cost to create a CarRenters account?
Nothing at all, it’s totally free to create an account at CarRenters.

Is my national driving license sufficient to rent a car in Iceland?
If you have a driving license from a country within the European Union or the European Economic Area it is sufficient to drive.
Visitors who don’t have an EU/EEA driving license will need a license issued in their country of residence.
If it is not written with Latin letters you will need a notarized English translation of it.

CAR RESERVATIONS & BOOKINGS

How do I rent a car at CarRenters?
When you have found the car you want to rent, send a car reservation request via CarRenters to the car owner.
After you have clicked on our car reservation button you will only need to follow 2 easy steps.
As soon as the car owner has approved your request, your booking has been made.

What if I want to ask the car owner some questions before I make a car reservation request?
You can create an account and send the owner a message before you make a booking.

What about the Car Rental Agreement?
As soon as the car owner has approved your reservation request you will be able to download
the Car Rental Agreement and the Car Returning Document.

What is a Car Returning Document?
A Car Returning Document is a document to be filled out when a car is returned. Both parties agree there on the condition
of the car when it is returned (e.g. scratches, bumps, amount of fuel, etc.).

Do I need to print the Car Rental Agreement?
In general, it's the owner’s job to print out the agreement. It’s very important for you to mark any damages, scratches or bumps
on the agreement; otherwise you could be held responsible for them. Therefore, we do recommend that you also bring a print out
of the agreement to be sure to hold one copy in case of any problems.

Is it possible to cancel a booking?
Yes. If a booking is cancelled at least 5 days (120 hours) before the rental period was due to begin, 78% of the total fee can be refunded.
CarRenters will not refund the service fee, and the person that cancels the booking will be responsible for any transaction fees.

PICK UP & DROP OFF

Where do I pick-up the car?
All cars listed at CarRenters have detailed information about where the renter can pick-up the car.
In most cases, the car's location is also listed at Google maps to make it easier to find the car.
After the booking is made the owner and the renter can also agree upon another collection point.

What should I take with me when picking-up a car?
When picking up a car you should take your booking reference number and your driving license.

Is anybody except me allowed to drive the car?
Yes, all your travel partners are allowed to drive, as long as they fulfill CarRenters requirements. You remain responsible for the vehicle.

What should I do if the car is damaged when I collect it from the owner?
If there are any damages, scratches or bumps it’s very important to declare that in the Car Rental Agreement, which you and the car owner need to sign.
You may be held responsible for any damage that occurs during the rental period.

What should I do if I’m responsible to damage?
On the Car Returning Document there is a form where the cost due the damage needs to be filled out.
If you and the car owner cannot negotiate how much the cost is, you should consult with a verified auto repair shop for evaluation of insurance claims.

Do I need to replace the fuel I used while returning the vehicle?
As a general rule of thumb, the fuel tank should be as full when you return the car as it was when you collected it.
Status of the tank will be filled out on the Car Rental Agreement and on the Car Returning Document; the difference may be charged to the renter's credit card.

How many kilometers are included in the rental price?
CarRenters does not have any limitations on the distance you may drive during the rental period.

What happens if the car is involved in a collision, or if the car stops working during the rental period?
If the car owner must collect the vehicle due to a collision or another form of damage, the renter will be held responsible for any transportation costs incurred.
If a total or partial breakdown occurs, and the car stops working, the car owner should try to provide you a comparable vehicle
(although they are not legally obliged to provide a replacement). If the breakdown is minor, you should consult with the car owner.

PAYMENTS

How do payments work?
When a rental request is made, our Credit Card Service Company encrypts your credit card information and store it.
We will store the payment until after the renting period.

What kind of payment methods is accepted at CarRenters?
We accept all major credit cards, including VISA, MasterCard, American Express, Diner's Club, Discover Card and JCB.

If CarRenters free to join, how does it make any money?
We charge a 22% commission of all transactions conducted on site.

What about extra costs that occur after the car has been retuned, like parking tickets?
When a booking is made an encrypted credit card imprint will be taken which will be securely stored at our Credit Card Service Company.
Extra charges will only be made if they are beyond reasonable doubt.

INSURANCE POLICY

Are the driver and passengers insured for any accidents?
According to chapter IIIX of the Icelandic traffic law 50/1987, all drivers and passengers are insured for hospital bills and compensation
for associated loss of earnings. This general rule has very few exceptions, which only apply if the driver behaves irresponsibly.

Is there a self-risk?
Yes, in case of a collision, damage or disappearance of the car or its accessories, the renter can be held liable for up to 330.000 ISK.
By purchasing our CDW the self risk will be reduced to 80.000 ISK.

How much does the insurance cost?
The general and mandatory car insurance is included in the car rental price.

COLISSION DAMAGE WAIVER (CDW)

What is a CDW?
On the rental period the lessee can be held responsible for up to 330.000 ISK if any damages occur to the vehicle.
The CDW is a product available for lessee’s who wish to reduce their self risk to 80.0000 ISK.

What damages does the CDW not cover?
The CDW covers most damages, however please read chapter 7 in our Terms Conditions to see what damages the CDW does not cover.

How much does the CDW cost?
The CDW costs 2000 ÍSK per day.

HELP FOR RENTERS

YOUR ACCOUNT

How much does it cost to create a CarRenters account?
Nothing at all, it’s totally free to create an account at CarRenters.

Can I rent out my car if it has damages, scratches or bumps?
Yes, but you have to list them on the Car Rental Agreement before the rental period starts.

CAR RESERVATIONS & BOOKINGS

What is a Car Rental Agreement?
That’s where all necessary information about you, the renter of the car and the car rental itself is collected together and put into a legally binding contract.

What is a Car Returning Document?
A Car Returning Document is a document to be filled out when a car is returned. Both parties agree there on the status of the car when it was returned
(e.g. scratches, bumps, amount of fuel, etc.).

Do I need to print the Car Rental Agreement?
Yes, it’s essential that you and the renter of the car sign the agreement. You should print two copies (one for you to hold and one for the renter).
Signing of the Car Rental Agreement and Car Returning Document will help in case of inconsistencies between parties about the status of the car, etc.

How quickly do I need to respond to a rental inquiry?
You should try to respond as quickly as you can. If you don't respond within 24 hours the request can be cancelled.

What if I have some questions?
As soon as a booking is made, we will send you and the renter an email, including all relevant contact information.

Is it possible to cancel a booking?
Yes. However, an automatic review will appear on your account saying that you cancelled a booking (and the time until the rental period should have started).

What should I do if I don’t get any reservation requests?

1. Check your rental price. We provide an open marketplace where customers will always try to get the best deal available.
Our advice is to lower your rental price, at least temporarily.

2. Alternatively, try encouraging your previous customers to post a review at Carrenters.is,
detailing what they thought of the car you are renting and the service you are providing.

COLLECTION & RETURN OF VEHICLES

Who should bring the Car Rental Agreement and Car Returning Document?
As the car owner, you should bring two copies of the Car Rental agreement and Car Returning Document when the renter collects and returns your car.
We also recommend that the renter print out two copies of each document, to ensure fast collection and return.

What are the rules around fuel?
As a general rule of thumb, the fuel tank should be as full when the car is returned, as it was when the renter collected it.
The owner should try to ensure the fuel tank is full when the vehicle is collected, in which case the renter must return the car with a full tank.
In the Car Rental Agreement, status of the fuel tank is recorded upon collection of the vehicle; the same information is recorded in the
Car Returning Document when the renter returns the vehicle. If the fuel tank is not as full as it should be, the renter must reimburse the owner.

MONEY & GETTING PAID

How and when do I get paid for my rentals?
When a booking is made, we collect the payment and keep it until after the rental.
CarRenters has two paydays unless that day fall on a weekend or holiday than the next working day becomes the payday:

a) Every 1st of the month payments are made to car owners for rentals that took place between 15th and the 31th of the previous month

b) Every 15th of the month payments are made to car owners for rentals that took place between 1th of the previous month and the 14th of the current month

How do you guarantee payments?
We collect payment when the rental is requested. It is not possible to make such a request without also making payment.

What about parking tickets, speeding fines and other extra cost?
When a booking is made, a credit card imprint will be taken which will be securely stored at our Credit Card Service Company. If additional costs are beyond reasonable doubt, we will charge these costs directly to the renter's credit card.

How should I decide the rental price of my car?
That's entirely up to you! You could look what other owners are charging for similar cars. 

How much commission do you charge?
We charge 22% commission, which is included in our final price. 

TAXES

Do I need to pay VAT?
According to Icelandic value added tax law (VAT), as set out in article 2 and 12, an individual can sell service or goods for up to 1,000,000 ISK
per year without adding VAT to the bill. After you exceed the 1,000,000 ISK, you will need to request a VAT number from the tax authorities.
It is up to you to determine if this is something you can use in this case. It is the owners responsibility to determine the VAT and all taxes he needs to pay.

What if the car renter is responsible for damages?
On the Car Returning Document there is a form where the cost due the damage needs to be filled out.
If you and the car renter cannot negotiate how much the cost is you should consult with a verified auto repair shop for evaluation of insurance claims.

INSURANCE

Are the driver and the passengers insured?
According to chapter IIIX of the Icelandic traffic law 50/1987, all drivers and passengers are insured for hospital bills and compensation
for any associated loss of earnings. This general rule has very few exceptions, which only apply if the driver behaves irresponsibly.

Is my car insured?
The terms of your normal insurance are the same, if you have your car in Casco it will continue to be so during the rental period. If not it will not be in casco.  CarRenters.is informs your insurance company about the rental and you will get an higher invoice from them due to increased risk during the rental period. 

Is there a self-risk?
Yes, in case of a collision, damage or disappearance of the car or its accessories the renter can be held liable for up to 330.000 ISK.
In some cases the lessee may have bought our CDW which lower the self rist to 80.000 ISK. In those cases carrenters.is bears the risk from 80.000 up to 330.000. The rest is on the risk of the owner, he can choose his insurances in accordance to his taste