Hertz Car Rental Fire sale Monday

Originally Posted by CKN
You would be surprised at the amount of businesses...and indivduals that would be devasted with out cash flow for only 30 days.......


Surprised is not the word I would use. Scared is more like it.
 
Originally Posted by JeffKeryk
Originally Posted by CKN
You would be surprised at the amount of businesses...and indivduals that would be devasted with out cash flow for only 30 days.......


Surprised is not the word I would use. Scared is more like it.

What is a good amount of cash for a business to be sitting on? Is it the same rule of thumb for individuals, at six months? Not sure, since for a business, they could be sitting on inventory and/or other things which could be sold for cash.
 
Originally Posted by Jarlaxle
Originally Posted by NO2
'Certified' by who?

Toyota in many cases.



A certified Toyota warranty takes the power train out to 7years/100,000 mies last time I checked. Also-a 12 month bumper to bumper. So yeah-a Toyota certified warranty has some teeth in it.
 
Originally Posted by Silverado12
In the Richmond, VA area they had a 70,000+ mile Cruze for over 10K. Not a deal.


Yeah, that's far from good. Especially with the $799 "dealer fee"

Locally in Jupiter, they are a bit cheaper an '18 Cruze with 44K miles is $10,200.
 
Originally Posted by CKN
Originally Posted by Jarlaxle
Originally Posted by NO2
'Certified' by who?

Toyota in many cases.



A certified Toyota warranty takes the power train out to 7years/100,000 mies last time I checked. Also-a 12 month bumper to bumper. So yeah-a Toyota certified warranty has some teeth in it.


Toyota would honor the balance of the factory warranty. You need to buy the car through a Toyota dealership for it to be certified by Toyota.
 
Looks like Carl Icahn pulled out of Hertz. Sold his gazillion shares for $0.72/share. That was nice of him!
 
Originally Posted by JTK
Looks like Carl Icahn pulled out of Hertz. Sold his gazillion shares for $0.72/share. That was nice of him!




He lost a ton of $$ on that one.
 
I took a peak last night at Hertz used car sales - I didn't see any "deals." Lots of 2017/18 Chevy Cruze's with 75k miles for $10k, and 2016 Camrys with 60k miles for $15k. No thanks.
 
Originally Posted by PimTac
Originally Posted by JTK
Looks like Carl Icahn pulled out of Hertz. Sold his gazillion shares for $0.72/share. That was nice of him!




He lost a ton of $$ on that one.


For sure. Outlook can't be good if he was willing to take the loss.
 
Originally Posted by GMFan
I took a peak last night at Hertz used car sales - I didn't see any "deals." Lots of 2017/18 Chevy Cruze's with 75k miles for $10k, and 2016 Camrys with 60k miles for $15k. No thanks.


To me, the only decent deals through Hertz is with their Rent2Buy selection, not the sales lot selection. Miles are typically under 36K and most are 2018-19s for the Rent 2 Buys. Like you say though. No real difference in pricing between a year ago and today.
 
Last edited:
Originally Posted by mtndew_dad
Originally Posted by CKN
Originally Posted by Jarlaxle
Originally Posted by NO2
'Certified' by who?

Toyota in many cases.



A certified Toyota warranty takes the power train out to 7years/100,000 mies last time I checked. Also-a 12 month bumper to bumper. So yeah-a Toyota certified warranty has some teeth in it.


Toyota would honor the balance of the factory warranty. You need to buy the car through a Toyota dealership for it to be certified by Toyota.


Yes-I said "Toyota Certified"..
 
Last edited:
Originally Posted by CKN
Originally Posted by Jarlaxle
Originally Posted by NO2
'Certified' by who?

Toyota in many cases.



A certified Toyota warranty takes the power train out to 7years/100,000 mies last time I checked. Also-a 12 month bumper to bumper. So yeah-a Toyota certified warranty has some teeth in it.


Sorry for any confusion, but I think the original question was about buying a car through Hertz and what is the value of "Hertz Certified" if they go out of business.
 
Well, I talked to my maintenance supervisor for Hertz. Said he got the phone call Thursday that he is no longer employed at Hertz. ...¡

I'm talking to a municipal/county near me that has a decent fleet of vehicles. Hope he gets a interview there.
 
Originally Posted by 53' Stude
Well, I talked to my maintenance supervisor for Hertz. Said he got the phone call Thursday that he is no longer employed at Hertz. ...¡

I'm talking to a municipal/county near me that has a decent fleet of vehicles. Hope he gets a interview there.


Oh man that sucks. Good on you for helping the guy out.

Makes you wonder though.. How does Hertz work through chapter 11 if you've got no one to work you through it?
 
Originally Posted by mtndew_dad
Originally Posted by CKN
Originally Posted by Jarlaxle
Originally Posted by NO2
'Certified' by who?

Toyota in many cases.



A certified Toyota warranty takes the power train out to 7years/100,000 mies last time I checked. Also-a 12 month bumper to bumper. So yeah-a Toyota certified warranty has some teeth in it.


Sorry for any confusion, but I think the original question was about buying a car through Hertz and what is the value of "Hertz Certified" if they go out of business.


It's Chapter 11 not Chapter 7. So they're not going out of business, just reorganizing. Of course they may lay some people off but they should still have someone available. Many times though Chapter 11 doesn't work out and they end up in Chapter 7 which is a liquidation. Then all bets are off.
 
JTK:I talked to few car hauler friends out of Ashland OH that tell me that Hertz can buy limited amounts of vehicles off the "floor plan". That's all. I only see maybe 2 people cleaning cars at Hertz, and maybe 2 "managers in training" moving cars around. My company is buying tons of new vehicles, mainly nissan Armadas, brand new 2020 Sentra (I actually like the looks of these new Sentras).

My friend I'm trying to help, has interview tomorrow so I'm hopeful. Helped him update his resume as well 🇺🇸🇨🇦ðŸŽ
 
Last edited:
Originally Posted by 53' Stude
JTK:I talked to few car hauler friends out of Ashland OH that tell me that Hertz can buy limited amounts of vehicles off the "floor plan". That's all. I only see maybe 2 people cleaning cars at Hertz, and maybe 2 "managers in training" moving cars around. My company is buying tons of new vehicles, mainly nissan Armadas, brand new 2020 Sentra (I actually like the looks of these new Sentras).

My friend I'm trying to help, has interview tomorrow so I'm hopeful. Helped him update his resume as well 🇺🇸🇨🇦ðŸŽ



As a side note-I drove right by the auto auction lot outside Las Vegas along Interstate 15. I think this is a Manheim auction facility. There are more cars than I have ever seen waiting to be sold.
 
Last edited:
Exactly, Hertz is not going out of business, Chapter 11 is to protect them from creditors while they restructure. Problem is 19 billion in debt and 1 billion in cash, no business to pay the debt due to the virus.
Hopefully once people start traveling again we will get back to normal. If we dont, it wont only be Hertz, it will be everything associated with travel that crashes.
Expect more..
 
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