The Renter is required to pay the Landlord a deposit of [dollars] (“Deposit”) which may be used in the event of loss or damage to the rental vehicle during the term of this Agreement. The owner can withhold a credit card of the same amount instead of collecting a deposit. In case of damage to the rental vehicle, the owner will make this deposit to cover the necessary repair or replacement costs. If the costs of repairing or repairing the rental vehicle exceed the amount of the deposit, the renter is responsible for paying the balance of these costs to the owner. The term of the lease can be as long or short as you want, from month to year. We recommend a short period of time so that the contract can be renewed and the conditions (such as the rental amount) can be updated.