A vehicle rental transaction system and method which provide a vehicle lot owner with a choice of options for vehicle security and customer convenience. The vehicle rental transaction system includes a computer for identifying a customer as part of a rental transaction involving a vehicle, and for sending a wireless message to the vehicle containing instructions for preparing the vehicle for the customer. Example instructions include, but are not limited to, unlocking doors and a trunk of the vehicle, adjusting power seats and power mirrors in accordance with customer preferences, adjusting climate control settings in accordance with the customer preferences, adjusting radio station settings in accordance with the customer preferences, and adjusting GPS settings in accordance with the customer preferences.