This year, the introduction of Decree No.168/2024/ND-CP, which outlines penalties for traffic violations, point deductions, and license point restoration, has brought some changes to the market.
Demand for spacious vehicles
Tran Xuan Truong, owner of a self-drive car rental business on National Highway No.13 (Hiep Binh Phuoc Ward, Thu Duc City), said his fleet of over 30 vehicles is nearly fully booked, with deposits placed for 25 cars. Most customers have chosen popular, affordable models such as the Hyundai Accent, Toyota Vios, Mazda 3, Toyota Veloz, and Mitsubishi Xpander.
Rental prices are about 1.5 times higher than usual, ranging from VND1.2 million to VND2 million per day. Premium vehicles like the Toyota Fortuner, Mazda CX-5, Hyundai Tucson, and Mercedes-Benz C200 remain less popular due to their higher costs. "Most customers prefer sedans with large trunks or seven-seater MPVs that can accommodate more passengers and luggage, save fuel, and offer better value," Truong noted.
Beyond professional car rental services, those seeking self-drive vehicles can explore social media groups or apps like Chungxe, Tripx, and Sigo. These platforms allow renters to specify their needs, such as vehicle type, rental period, and budget, and either receive offers from providers or be automatically matched with car owners.
Many individuals who won't use their cars during Tet also list them on social media to find renters and reduce costs. VinFast has recently launched a daily self-drive electric car rental service. While the fleet is small, it provides an alternative and gives customers an opportunity to experience electric vehicles.
Concerns over traffic fines
Despite the growing demand for self-drive car rentals, some rental shops are facing cancellations, a situation not seen in previous Tet seasons.
A representative from a rental shop in District 12 mentioned that some customers who initially booked cars later canceled, fearing potential traffic fines on their way home or during Tet trips. Similarly, Trung An Khang Car Rental in HCMC reported that many customers who had placed deposits canceled their bookings due to concerns about traffic fines.
To mitigate the risk of traffic fines, some self-drive car rental services have raised the security deposit from VND20 million to VND40 million. Customers unable to pay in cash can leave equivalent-value motorbike or scooter registration documents as collateral.
In some cases, rental shops are now requiring additional documents, such as household registration or temporary residence certificates. Refund policies for deposits have also changed. For example, Tan Chau Car Rental in Go Vap District now refunds deposits one week after the vehicle is returned, up from the previous two-day period.
Mr. Chu Phat Dat, Director of the Ibookcar booking platform, shared that in previous years, traffic fines were relatively low and could be considered a manageable business risk.
"This year, with the increase in traffic fines, we are taking steps to minimize risks. Before handing over the car to customers, we provide guidance and reminders. Additionally, we have installed cameras to alert customers about areas with speed cameras, helping to reduce common violations," Mr. Chu Phat Dat explained.
Lawyer Tran Minh Hung, Head of Gia Dinh Law Office (HCMC Bar Association), advised that to avoid issues with traffic fines when renting self-drive cars during Tet, car owners should clearly specify responsibilities in the rental contract. This should include who is liable for fines if violations occur, allowing the owner to request reimbursement if they pay the fine on behalf of the renter. If the renter refuses to repay, the car owner can file a lawsuit to recover the payment.
Additionally, when handing over the vehicle, the car owner may request a deposit for 15 days to one month. During this time, the owner should monitor official government websites for any fines. If fines are incurred during the rental period, the owner can deduct the amount from the deposit to cover the fine.
Mr. Nguyen Thanh Loi, Deputy Head of the HCMC Traffic Safety Committee, stated that since the implementation of Decree No.168, public awareness of traffic rules has greatly improved, with people adhering more strictly to regulations. The incidence of speeding, reckless driving, driving on sidewalks, and ignoring traffic signals has decreased significantly.
For Tet 2025, he urged the public to follow speed limits, stay in the correct lanes, and obey traffic signals to continue building a better traffic culture.
