Car rental companies regularly replace their fleet of vehicles to meet client demand. Some companies use these cars for 18-24 months before they put them up for sale. This means that, by the time the vehicles are due for sale, they are usually less than two years old. If you are wondering if it is a wise move to buy used rental cars, you may be lucky to get a reasonably new car at a great price. There are several places where you can buy a used rental car.
Buy from the Car Rental Company
Car rental companies sometimes choose to manage the sale of their used rental cars directly. It is common to find companies like Hertz and Avis selling some of their old fleets of cars. They also offer trade-ins. You can have your current car appraised and valued before trading it for a used rental car. The process is no different from a trade-in with a car dealership. Rental companies also offer the possibility of renting to buy. All you need to do is choose the car you want, and rent it for a few days. If you’re happy, you get to buy it.
Buy a Rental Car from Auction Sites
To attract more people and to sell the cars faster, instead of selling the car themselves, some rental companies use auction sites like Auto Auction Mall. These auction sites give dealers, and members of the public who would like to buy rental cars access to these cars. This gives the cars more visibility, and people have the opportunity to buy used cars that come with a warranty.
Why You Should Buy a Rental Car
Buy a Car at a Bargain Price
Rental car companies don’t want to haggle over the price of the vehicles. They also don’t want to hold on to the current fleet while waiting to sell at the best price possible. Their interest is in replacing the existing fleet with a new one. The sooner they can do this, the better for them. When these companies come up with a price for the cars on sale, making a profit is not usually the motivation. This is why the cost of a used Camry or Elantra is much lower when it comes from a car rental company. Of course, it is a good idea to compare prices to confirm you are getting an excellent deal.
The Cars Are Only a Few Years Old
Since rental companies regularly rotate their fleets of cars, the cars they put up for sale are usually only a few years old. That’s why you can get a relatively new car that has covered a couple of miles. This is one of the reasons why the price of these cars is great. If you are thinking of buying a newer model but can’t pay the asking price for a new car, you can easily have your cake and eat it too if you choose to buy rental cars.
Most Cars Come with a Warranty
Car rental companies often overhaul their fleet when they are still under the manufacturer’s warranty. This warranty gets transferred to the new owner of the car. There are instances where you also get to buy a warranty extension if you wish to have extra protection.
If there is anything you can be sure of when it comes to used rental cars is that they are well maintained. Car rental companies always ensure their cars are in top shape for the next client. This is to avoid any complaints about the mechanical condition of the car. With these cars, you can be sure you will not have much to do when it comes to repairs. You can even request for the car’s service history. Car rental companies have all this information on record. This is usually to ensure their fleet is up to date and ready for hire at all times.
You Can Request for a Carfax Report
In general, when purchasing used cars, it is usually harder to get the history of the car. However, since you are buying a car from a rental company, it is easier to get a report on the ownership of the car. Since the car rental company is usually the only owner of the car, it is easy to ascertain this while getting the history of the car. The company is always willing to give all the necessary information. A Carfax report will certify that all the information is correct. If not, you will also find out just as easily.
History of Possible Accidents
Since car rental companies have no control over who hires their cars, they usually insure their cars in case of any mishandling. If the rental was involved in an accident, it is easy to get this information. However, you should seek the advice of your mechanic to ascertain if the information on the report matches the condition of the car. You will, therefore, make an informed decision based on the extent of the damage and the possibility of mechanical issues arising.
Longer Test Drive Offers
A typical test drive when buying from a dealer lasts no more than 15 minutes. However, car rental companies like Hertz and Avis give at least a 2-hour test drive. You can also consider renting the car for three days at a reduced price if you feel you need more time to make up your mind about buying a used rental car.
The Possibility of Getting Financing
Car rental companies like Hertz, Avis, and Enterprise have partnered with financial institutions to offer support to clients who need it. This is a great incentive if you want to buy a rental car, but are worried you may not afford to cover the costs at the moment.
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Why You Should Consider Buying Used Rental Cars from a Car Auction
A More Extensive Collection of Used Rental Cars
Car rental companies do not have the patience or the time to sell one car at a time. Sometimes, it is easier for them to release the used rental cars to the market through car auction sites. Car rental companies often have a limited inventory. However, since auto dealer auction sites, such as Auto Auction Mall, acquire cars from several companies, they offer a vast stock of cars to choose from.
Buying a vehicle listed as a former rental often causes mixed feelings. There is the worry that the car may be newer but covered more miles than a privately-owned car of the same age. The advantage is that the engines of these cars are better maintained and may be in better shape than most cars the same age owned by individuals. When you are considering buying a rental car, looking at the mileage is a good idea. However, there are several other factors that make buying a rental car worthwhile. Although most car rental companies have a no-haggle policy on the given price, if you are considering a trade-in, you could try using this to get a better deal. Car auction sites may also give you the opportunity to bid for a better price.