Once Hertz declared bankruptcy, the rental car company pushed a ton of their inventory onto the used car market. While some industry experts predicted this would cause a blow to used car values, prices have started to stabilize a little, but according to iSeeCars.com, you can still score some great deals buying from Hertz.
Millions of Americans are feeling the negative economic impact of Covid-19, and while states are slowly opening up and folks are returning to work, it’s hard to make up for lost income. Buyers that are in the market for a car would be wise to pivot to a cheaper pre-owned car. Indeed many car shoppers are doing just that, as the used car market is bouncing back while new car sales still lag. If you’re looking for a deal, buying from a rental fleet like Hertz could be a good move.
According to iSeeCars, vehicles in the Hertz fleet can often be a bit cheaper than the average market price for a similar used car.
iSeeCars analyzed over 20,000 used cars from model years 2017 to 2019 listed by Hertz Car Sales® in May 2020, to see which vehicles provide the biggest cost savings. Hertz vehicles can currently be found on average for $1,389 below market value, which is 43.3 percent more than the average discount for Hertz vehicles in April at $969. Some vehicles can be found with savings far greater than average.
However, the cars with the best savings seem to be luxury models, which may not be the right fit for budget-focused shoppers.
You might be surprised to see such low miles on excellent cars like the BMW 7 series or the Infiniti QX50, but renters don’t tend pay for the upgrade for a premium ride. Renting a car is generally just about getting there and getting back for most people.
Here is a sampling of 2019 740 models all with reasonable mileage for a rental car.
Considering the 7 series had a starting price of around $84,000 before options picking up a one-year-old example with plenty of warranty left for almost half-price is a heck of a value.
Hertz’s no-haggle price and return policy can ease the stress of shopping, especially in the more challenging, affordable segment (around $15,000), where dealers will play games and add fees in order to squeeze whatever they can out of the customer.
To see what is available in your area visit Hertz’s website.