What does VX refer to in the context of rental vehicles?

In the context of rental vehicles, VX often refers to the concept of "Loss that occurs when the vehicle is on rent." This term is used to address potential financial losses or liabilities that a rental car company might face when a vehicle is in use by a customer.

When a rental vehicle is involved in an accident or incurs damage while rented out, the rental company needs to account for the loss of value as well as potential repair costs. This is crucial for determining the overall risk management strategy and insurance coverage that the company must carry to protect its assets. By focusing on this aspect, rental companies can establish clear policies regarding loss, liability, and customer responsibilities, ensuring that both the company and the customer understand their financial obligations in the event of an incident.

This understanding helps both the company in terms of asset management and helps assure customers about their responsibilities while using the rental vehicle.