8 Cars Sold By Car Rental Companies With The Biggest Savings
- Car search engine and car research company iSeeCars has compiled a list of the best used cars to buy from car rental companies based on potential savings.
- On average, rental car agencies like Hertz — which recently filed for bankruptcy and is now selling off some of its inventory — offer better deals than online and local dealerships, according to data compiled by iSeeCars.
- The Chevrolet Silverado 1500 pickup offers the greatest potential savings of any model among rental car companies, averaging 6.6% savings, or about $2,016.
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Car search engine and automotive research company iSeeCars has compiled a list of the top 8 used cars to buy from car rental agencies based on potential savings opportunities.
Used car prices have soared amid the pandemic as new car inventories have shrunk while demand for cars has increased, according to a previous iSeeCars study. As a result, the average used car price jumped 4.1%, or about $941, from July to August.
There are several marketplace options for potential buyers who are also looking to buy a used car at a good price right now, such as checking traditional local brick-and-mortar dealerships, browsing options online, or going to companies car rental companies like Hertz, which recently filed a case. for bankruptcy.
Of these three options, on average car rental companies offer better deals on used cars than other retailers: buyers can save an average of $334 and $747 by buying from a car rental company. cars instead of a local dealership or an online store, respectively, depending on the study.
“Because car rental companies buy their cars at a high volume and at a discount, they are able to sell these vehicles for less to consumers, and they price the vehicles for sale in order to move their inventory quickly. “said the iSeeCars executive. said analyst Karl Brauer in a statement. “Additionally, car rental companies are also more likely to discount their vehicles given the financial difficulties they are facing due to the COVID-19 pandemic.”
Hertz has until December 31 to get rid of 182,521 cars, according to a filing with the U.S. Securities and Exchange Commission as part of a $650 million deal with the leasing company and its lenders. . As a result, some of its used cars are sold to the public, and it’s no secret that vehicles sold by Hertz fetch good prices.
iSeeCars analyzed more than 8.5 million used cars sold this year by online dealerships, car rental companies and other used car sellers, and compared price tags, mileages , the respective market values and the popularity of the vehicles this year. However, low volume cars were not included in the study.
Keep scrolling to see 8 popular cars that offer great savings when purchased from a car rental company:
