Hertz Car Rental Fire sale Monday

Joined
Oct 17, 2007
Messages
3,706
Location
utah
So Hertz is in trouble, stock down 20% today, and they show a ton of inventory coming up for sale May 4th. It seems to be very aggressively priced. If anyone was wanting to buy something Hertz rents out, this could be your golden chance.
 
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So many Sentra SVs and Elantras, and nearly all with ~75k miles!
 
They have tons of nice cars 20-30k miles in SLC Utah at least.
 
I wouldn't touch a rental with a 10 foot pole myself...unless it was such a killer deal I couldn't pass it up.
 
Yea I noticed they were one of the first dealers to lower their prices. I expect the prices to drop more so I am still holding out.

Luckily sold my truck before everything hit the fan. So in a good position now and since I work from home no rush either.


EDIT: Just looked, they are getting desperate. They have 2020 vehicles with less than 10k for sale now. Guess better to sell now then lose even more holding. So yea its desperate but a smart move long-term.
 
Originally Posted by Jimzz
Yea I noticed they were one of the first dealers to lower their prices. I expect the prices to drop more so I am still holding out.

Luckily sold my truck before everything hit the fan. So in a good position now and since I work from home no rush either.


EDIT: Just looked, they are getting desperate. They have 2020 vehicles with less than 10k for sale now. Guess better to sell now then lose even more holding. So yea its desperate but a smart move long-term.


The used car guys will gobble them up if if makes sense for them.
 
Just like at auto dealers and small car lots, whenever a car sits, it depreciates and suffers "lot rot".
This depreciation is accelerated by the current market situation and will not get better, only worse for those sitting on large inventories.
They know this, and are attempting to mitigate the amount of loss they are suffering.

...makes sense
 
The webpage doesn't seem to want to work right now. I wonder how many cars they lost in that fire at RSW. That happened right after I flew out of there. We had a really nice Fusion for a rental, well it was stripped down but it would make a decent daily driver.
 
Originally Posted by tbm5690
I wouldn't touch a rental with a 10 foot pole myself...unless it was such a killer deal I couldn't pass it up.


Rentals are beat to heck and back. The vehicle would have to be really, really cheap and I mean cheaper than what they offer them for.
 
I bought multible rentals in the 80's 90's. Never a problem. Olds calais and cutlass cieras. I had no more issues than with non rentals. I will say the paint was not quite as good , probably due to the automatic brush washes they ran them through regularly.
 
Hertz services their cars. I have bought or help others buy 4 I believe. All have been under market and no issues.
 
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The rental car companies inspect and keep the best of their fleets and auction off any others. The Kia Soul we bought from Hertz was two years old with 50k miles. That is an average of 68.5 miles per day, so it was driven a lot, to be sure. I asked for service records and they had them electronically. The car had been registered in California originally and we bought it in Texas. Every oil change was performed within 300 miles of 7500 miles. It had new tires and had been detailed. We have not had any issues with it. Most rental cars are driven from airports to hotel and restaurants. Some are abused, but most are not.
 
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