What's a deposit when renting a car? Deposit is a specific amount of money that is blocked on your bank card (or taken by cash) when you rent a car. It is held by the car rental company as a financial guarantee to cover possible extra costs that may apply during and after the rent. For example, to cover the cost of repairs in case of car damage, cleaning the car, late return, and other similar cases. Most companies in Cyprus block the security deposit amount on your bank card, but we partner with local car rentals that offer a no deposit option when renting a car. Below you will find such offers for renting your holiday car without a deposit - they are marked with a special sign.