8 cars sold by car rental companies with the best savings
- The car search engine and auto research company iSeeCars have compiled a list of the best used cars to buy from car rental companies based on potential savings.
- On average, car rental companies like Hertz – which recently filed for bankruptcy and now sells some of its inventory – have better deals than online and local dealerships, according to data compiled by iSeeCars.
- The Chevrolet Silverado 1500 pickup truck offers the best savings opportunities of any car rental company model, averaging 6.6% savings, or about $ 2,016.
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The car search engine and automotive research company iSeeCars have compiled a list of the 8 best used cars to buy from car rental companies based on potential savings opportunities.
Used car prices have skyrocketed amid the pandemic as inventories of new cars have shrunk while demand for cars has increased, according to a previous iSeeCars study. As a result, the average price of used cars jumped 4.1% – about $ 941 – from July to August.
There are several market options for potential buyers who are also looking to buy a used car for a good deal right now, such as checking out traditional local brick and mortar dealers, browsing options online, or going to companies. rental cars like Hertz, which recently filed for bankruptcy.
Of these three options, on average, car rental companies have better deals on used cars than other retailers: buyers can save an average of $ 334 and $ 747 by purchasing through a car rental company at instead of a local dealership or online store, respectively, according to under review.
âBecause car rental companies buy their cars at a high volume and at a reduced price, they are able to sell these vehicles cheaply to consumers, and they price the vehicles for sale in order to move their inventory. quickly, âthe head of iSeeCars said analyst Karl Brauer in a statement. âAdditionally, car rental companies are also more likely to downsize their vehicles given the financial hardships they face as a result of the COVID-19 pandemic. “
Hertz has until Dec. 31 to dispose of 182,521 cars, according to a filing with the U.S. Securities and Exchange Commission in a $ 650 million deal with the rental company and its lenders. As a result, some of its used cars are sold to the public, and it’s no secret that the vehicles Hertz sells are well priced.
iSeeCars analyzed over 8.5 million used cars sold this year by online dealers, car rental companies and other used car sellers, and compared price tags, mileage , the respective market values ââand popularity of the vehicles this year. However, low-volume cars were not included in the study.
Keep scrolling to see the 8 popular cars that offer great savings when purchased from a car rental company: