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car rental pick-up and drop-off times

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We are going to be renting a car for two days in Austria. We don't know exactly what times would be best for pick-up and drop-off, but of course the rental companies want that information. I think ideally we would like to pick up around 9-10am and drop off at 1-2pm, but at least at Hertz this changes it to a 3 day rental (even if the pick up is 10am and the drop off 11am). I'm assuming this is the case with all rental companies? Should we just put down 10am for pick up and drop off? If we are late dropping off will they just charge us an extra day at the same rate, or will there be a large penalty to pay?

I've never rented a car in the states or abroad so am not clear how the logistics work.

Thanks!

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