Pros And Cons Of Buying A Rental Car 2021
Mention that you are thinking of buying a former rental car and the response is predictable: Rental cars have been abused and you'd be crazy to buy one. But should you really steer clear of these vehicles? Or could a former rental car be solid, dependable transportation?
pros and cons of buying a rental car
Avis, Enterprise, and Hertz all have easy-to-use websites where consumers can sort through the used vehicle offerings in their area. All three also list no-haggle pricing: the no-haggle price means you'll know upfront what you can expect to pay (financing options will depend on your credit score, of course). Both Avis and Hertz offer a three-day test drive where the customer pays the rental fee up front, but that fee gets refunded if the driver buys the vehicle. Enterprise extends that trial period to seven days.
A former rental may cost less money up front, but it will also return less money down the road. Getting maximum resale value for a used rental car is difficult, because many shoppers are wary of buying former rental vehicles, so much so that some states have passed laws allowing car dealerships to call rental cars "program cars" in hopes of avoiding the stigma. The value for former rentals is also impacted by the fact that these vehicles are sold in such high volume. When the market gets flooded with thousands of cars of the same make and model, all at more or less the same time and with similar mileage, the price for that make and model gets driven down.
On CarGurus, all rental cars are marked as "Fleet," but not all cars marked "Fleet" are former rentals. To find out if a CarGurus "Fleet" vehicle was a rental, check the vehicle's history report. Of course, purchasing a vehicle history report and asking for service history documentation are steps every customer should take when buying a used car, but it's especially important when looking at a former rental. Taking a former rental to a trusted mechanic before purchasing it is also recommended. Keeping all these pros and cons in mind, a former rental car can provide relatively new tech and safety features at an affordable price.
1. You are almost always guaranteed to have a high mileage vehicle. Rental vehicles are going to have more miles on them than most single-owner vehicles. A car is considered to have high mileage private ownership if the driver puts on between 12,000 to 15,000 miles each year. When you look at a rental car, it might have up to 40,000 miles driven on it each year. That means your preferred make and model might only be a couple of years old, but it could easily have 80,000 miles on it already.
When reviewing the pros and cons of buying a rental car, it is essential to review the various labels that you can find in this industry. Program or fleet cars can be former rentals, but not all of them marketed in such a manner were actually rented to other drivers. The best way to find out what is going on with the make and model you prefer is to look at the service history documentation of the car you want.
A rental car is like any other used car and most cars may have scrapes and scratches. However their engines are maintained better probably than most privately owned cars since constant care and maintenance are undertaken during their use. Most cars will be clean when purchased from the top companies. These companies remove them from service after two or three years of age and by that time, the rental car would have already undergone a larger portion of depreciation. However the prices tend to be on the higher side when bought from such rental companies. Extended warranties can be obtained for an additional amount for full coverage.The market for used cars has changed significantly in recent years and will still continue to grow towards emulating the experience of buying a new car. The rental agencies offer a viable option for purchase when buying a used vehicle. Rental cars can be a great investment for people looking for a suitable vehicle contrary to popular belief that these cars woould have been abused by the rental company drivers previously. The maintenance records will mostly be clearly documented which is a huge plus. Since every vehicle owned by the rental company will be the bread and butter and to keep them in good working condition is a good business sense.The older model vehicles of the Rental car agencies are often disposed of in public sales. (adsbygoogle = window.adsbygoogle ).push();Most people use this method for buying their family cars regularly. As the rental companies are not trying to make a profit, prices are also often lower than offered by used-car dealers. We will now consider in detail the Pros and Cons of purchase of used cars from rental companies.Advantages of of Rental car purchase: The buyer knows where the car is coming from. It is more likely that the cars have been well maintained and kept clean during its life as a rental car. Clean maintenance records will be offered as a back up. Even otherwise, this should be insisted upon to make sure that the car has been properly taken care of. Another attractive factor for purchasing a rental car is low pricing. Vehicles of less than a year old and having less than 20,000 miles clocked in their odometers are offered by many rental car agencies. Whenever a new model is for sale, it does not necessarily indicate that the vehicle is problematic and that there should be any room for suspiscion. Rental companies normally procure their vehicles at a bare minimum pricing in a lot thus enabling them to sell again at very competitive prices. Warranty will still be existing when a car is purchased through a rental car company as they are sold sometimes within a year of purchase which may have a reasonable mileage. There is also a good possibility that there still will be some time left from the manufacturers warranty period. This is another advantage. A little peace of mind will be left considering the cons of purchasing a rental car. Disadvantages of Rental car purchase: The rental companies sometimes may have no idea of how the car is actually used and its endurances while in the custody of the individual to whom it is rented to. Though there will be some assurance that the car was not mistreated, it is known a fact that the cars would have been suffered to abuse by the rental car agency drivers. Though the rental agencies inspect the car upon its return to their lot for ensuring that there has been no damage, it is still reported at that point that it is largely cosmetic and while aesthetics are also important, what is inside really counts. Thorough Inspection by an outside and unaffiliated mechanic will be better to ensure that the vehicle has not suffered any mechanical damages at the hands of a thoughtless renter. Mechanical soundness is the true bottom line even while cosmetic issues are important with any used car purchase.
If you are looking at a long term car rental or leasing a car, there are some things to consider before choosing this option over buying a car. Many people choose to lease or rent a car long term because they can drive a new car that they could not normally afford to buy. SIXT rent a car has great long-term car rental offers.
Both options have their plusses and minuses, but ultimately the decision comes down to your budget and how much you will use the vehicle. If you are set on driving a new-model car that would otherwise be out of your price range, or only need a vehicle for a fixed period of time, a long-term rental might be for you. And if you use your car a lot, driving long distances, and want the freedom of being able to sell your vehicle, buying a car might be the better option.
Edmunds has researched the pros and cons of buying a rental vehicle -- and also has recommended five cars that could be a good choice if you want to buy a used rental: the 2019 Volkswagen Jetta, the 2017 Hyundai Accent SE, the 2019 Kia Optima LX, the 2018 Nissan Rogue S and the 2018 Toyota Avalon.
There are a vast number of places you can find a used car. You can buy from a private party, a used car dealer, or a franchised new car dealer. Another option is buying a former rental car from the rental car company itself.
If the seller provides the coverage, you should note when the coverage starts and ends. Typically, a rental car company warranty isn't added to the end of the automaker's warranty; it starts the day you buy the car. Here's an example: We'll say you're buying a car with 31,000 miles on its odometer, a manufacturer's warranty that lasts until it reaches 36,000 miles, and a 12,000-mile powertrain warranty from the rental car company that sold you the car. The manufacturer's warranty will take you to 36,000 miles. Then, the rental company's warranty will cover you for the remaining portion of its 12,000 miles or until your car reaches 43,000 miles.
If you're looking for a specialized model, top-trim level, or high-demand vehicle, you may be hard-pressed to find one as a former rental car. Though the span of vehicles used as rental cars has expanded beyond bland sedans to mirror American consumers' tastes, some vehicles are rare in daily rental fleets.
With so many options facing the new car buyer, it's easy to feel overwhelmed. Should you buy new? Should you buy used? Each process comes with its pros and cons. Buying new means paying high prices and potentially not picking the car that depreciates best. Buying used means dealing with questionable dealers, or worse, private sellers with something to hide.
However, there is a better, newer solution for the person who just wants an easy, clear-cut solution: buying a rental car. With Hertz's "Rent2Buy" program, the rental car company now offers the middle-of-the-road car buyer a way to get the best of both worlds. Relatively new cars at used car prices-and from a reputable corporation. 041b061a72