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Now that car rental giant Hertz filed for bankruptcy under Chapter 11, the company is expected to unload 200,000 cars until the end of the year as part of the deal. Since a lot of used rental cars suddenly arrive on the market, don’t avoid them immediately. Taking a used rental car isn’t as complicated as you think.
Car sales have been in terrible shape this year, basically due to the COVID-19 pandemic. I’m sure it’s a buyer’s market, so if you’re thinking about buying something new for you, it’s time to do it.
Hertz has no plans to buy more cars for its fleets this year. In fact, it is very likely that car rental companies that suffer sell a giant component of their fleet. Industry experts expect corporations to unload 1.5 million cars from their U.S. fleet in the coming weeks and months, according to CNN Business.
What does this mean for you, a prospective buyer? This means that you can choose from many more used cars and more favorable prices.
“Generally speaking, you can get a rental car for a little less than one,” Tom McParland, owner of a service called Automatch Consulting, told Business Insider
It is not unusual for car rental companies to sell their cars after they have been in service for a year or two. Hertz gives value without haggling, which saves him from having to negotiate the value of a car.
For example, Hertz recently released the yellow 2019 Chevrolet Corvette Z06 for nearly $20,000 less than comparable Z06 2019. And the 2020 Toyota Corolla with the LE edition costs $20208 when it’s new to Autotrader. But used and on the Hertz site? That’s $15,129 worth without haggling.
However, one thing to keep in mind is that rental companies request the maximum basic adjustments for their fleets. So, if you’re someone who likes fully loaded and well-equipped vehicles, selections are probably scarce for you.
Some naturally get nervous about buying a used rental car. The confidence here is that rental consumers do not process rental cars as well as cars that are not public and drive much more than private cars. The latter is true in some cases.
“Many other people are concerned that rents have been abused, but I think the concern is exaggerated,” McParland said. “The average user does not drive his Rental Altima like Mario Andretti. Also, rental cars tend to have good maintenance despite the high mileage.”
The rental company is suggested to keep its cars in good condition, CNN Business said. A good rental car is more valuable to the company than a bad one because consumers won’t have problems with them. In fact, maximum car rental companies have strict service schedules to keep their cars in top condition. A used car owned by a common user is not required to adhere to such instructions.
Hertz also offers a Rent2Buy program, which is essential to enjoy it. Basically, Hertz will allow you to rent one of your used rental cars during a three-day trial era at a low rental price. This means you can take your time to review it, check and see if something wants to be corrected, and even entrust it to an independent mechanic to examine it.
During a car driving review, it is vital to keep your eyes open for anything that may be a warning signal. Look for physical damage, wear, and noise while driving.
It’s also a smart concept to get a report on vehicle history and make sure the car is up to date with recalls. By law, car rental companies will have to repair cars removed from their fleet.
“The vehicle history report involves any notable recalls, but it is worth checking yourself by running the vehicle identification number (VIN) at the National Highway Traffic Safety Administration’s loose recall site,” Edmunds said.
If, after all this, the car still does not meet its standards, continue, it doesn’t matter. But don’t rush to refuse a used rental car. This can save you thousands of dollars.