Charge Security Deposits

Charge security deposits online based on your customer profile and chosen vehicle.

Loopit allows you to configure security deposits based on your customer profile and the selected vehicle to ensure you are protected.

Get started 

Configure security deposits to match your desired risk profile

Knowing your customers is paramount to ensuring your car subscription service stays profitable. Loopit lets you adjust the thresholds on security deposits accordingly to the risk profile of your customers.

Reflect your vehicle status with the appropriate security deposit

Configurable security deposits to help you put the right customer in the right car. Loopit helps you maximise the protection of your vehicles by allowing you to make adjustments on security deposits based on the respective type of vehicle.

Frequently asked questions

How much does Loopit take as a refundable security deposit?

As much as you'd like! The amount charged as a security deposit is entirely configurable within your Loopit account. You can choose to charge a higher deposit based on the outcome of the customer assessment, charge a higher deposit for more premium vehicles, or charge no deposit at all - the choice is entirely yours.

How are security deposit refunds managed?

Security deposits are managed entirely on platform, and Loopit offers functionality to refund a security deposit or apply the value of the security deposit to an outstanding balance.

What if I want to charge customers a non-refundable upfront deposit?

You have the ability to configure an Establishment Fee within your Loopit account which is a non-refundable upfront cost for subscribers when activating a subscription.

Recurring BIlling & Payments