FYI: Purchasing a used rental car can offer significant savings and a diverse selection, especially as rental companies like Hertz reduce their electric vehicle inventory. Learn what to watch for to ensure a good buy.
Exploring the Benefits of Buying a Used Rental Car
Buying a pre-owned car can be a wallet-friendly option. Expanding your search to include rental companies could widen your selection, including options like previously rented vehicles. Though some might hesitate to consider a former rental car, this route can offer substantial savings and convenience.
Unlocking the Perks of Rental Car Purchases
Major rental chains such as Avis, Enterprise, and Hertz provide buyback services for their fleet. Their websites function similarly to other car inventory platforms, allowing potential buyers to filter options by make, model, year, price, and more. Discounted pricing below Kelley Blue Book values is often available, with vehicles ranging from practical sedans like the Nissan Altima to luxury and sports models.
Why Consider a Rental Car?
- Fixed Pricing: Rental companies don’t haggle over prices—the listed price is what you’ll pay, similar to CarMax.
- Maintenance: Rental vehicles are meticulously maintained, adhering to manufacturer-recommended intervals—a benefit for safety and performance.
- Newer Models: Rental fleets tend to be relatively recent models, incorporating the latest safety features and technology.
Affordable Options for Savvy Shoppers
Rental cars can be cheaper than other used vehicles because these companies buy in bulk, securing lower prices from manufacturers. While they may not always be the absolute cheapest, ex-rental cars generally align with market value or are slightly below it. However, a stigma exists around rental cars due to perceived heavy use and potential interior wear, which might affect their resale value.
Key Considerations When Buying a Used Rental Car
When contemplating the purchase of a rental car, treat it as you would any used vehicle:
- Inspection: Schedule an appointment to view the car if you’re not buying it online. If possible, have a third-party garage or dealership inspect the vehicle.
- In-House Checks: Rental companies conduct thorough inspections but verify this by checking tire wear, and age, and taking the car for a test drive to catch any unusual disturbances.
- Maintenance Records: Ensure you review the vehicle’s maintenance logs and obtain a Carfax report for any accident or damage history.
Warranty and Trial Periods
Most rental companies such as Hertz, Avis, and Enterprise, offer warranties on their used cars, typically covering them for 12 months or 12,000 miles. Additional warranties from third-party providers can also be purchased. Some rental companies provide a three- to seven-day trial period, allowing buyers to gauge the car’s real-world performance before making a final commitment.
Surge in Rental Electric Vehicle Sales
Rental companies like Hertz have been offloading their electric vehicle inventory, including numerous Tesla Model 3 and Model Y units. The uptick in EV sales is due to lower-than-expected rental popularity and higher repair costs. The protocol for purchasing a used EV remains the same, but additional diligence in inspecting for collision damage is advisable.
Conclusion
Buying a used rental car can be an attractive option for budget-conscious buyers seeking well-maintained, newer model vehicles. While potential buyers should take standard precautions, such as thorough inspections and checking maintenance records, this avenue offers both convenience and value. For those interested in ex-rental electric vehicles, extra attention to detail will ensure a smart purchase. This approach not only broadens your vehicle options but also leverages the meticulous upkeep rental companies are known for.
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Lawrence Jacobs, Editor of Automotive.fyi
