back to articles | September 06, 2019 | Greg Thibodeau
Categories:   Tips & Insights For Car Buying    Auto Loans & Financing    Buying & Selling Cars    Loan Calculators & Rates    Vehicle & Buying Research
Shopping for Used Cars? Consider a Rental
If you’re in the market for a used car, don’t discount buying a rental car. One of the biggest perks of buying a rental car is that you can get a newer model for less than you would at a typical dealership, plus transparent (and complete) maintenance records and zero haggling. While buying a rental car is a lot like buying a used car from a dealership, there are still some benefits you might not be aware of.
Rental cars are like new
Rental cars aren’t brand new, but they’re pretty close to it. Rental companies buy brand new cars to rent out to consumers and then sell the vehicles when they’re about a year old. Enterprise vehicles spend an average of 12 months in the fleet. Some rental cars are so new that they’re still under manufacturer warranty.
To keep inventory up-to-date, rental companies will auction off some cars or sell directly to dealerships and consumers every year. If you shop at a used car dealership, you might test drive a former rental car and not even know it!
Yes, rental cars tend to clock more mileage than a similar used car of the same age. But with many cars lasting well over 200,000 miles nowadays, mileage shouldn’t be your biggest concern if the vehicle has been cared for properly. It’s all about maintenance over mileage!
Rental cars are well maintained
If you buy a rental car from a big company like Enterprise, Hertz, or Avis, you can count on a transparent track record of preventative maintenance and regular service.
At Enterprise, each vehicle receives regular maintenance and scheduled service while it’s in the fleet. Before heading to a Car Sales dealership, a vehicle must pass a rigorous inspection – all performed by an ASE-certified technician.
Avis vehicles for sale receive the same treatment. They undergo factory-recommended preventative maintenance and must pass a thorough multi-point inspection process completed by certified mechanics, including ASE-Certified and ASE Master Technicians. Avis won’t sell a vehicle with an open recall or safety campaign, which is a benefit you won’t typically find if you buy a used car at a local lot or from a private seller.
Rental cars are priced low, with no haggle pricing
Not looking forward to playing the “hurry up and wait” game at your local dealership? Forget about negotiating tricks and tips when buying a rental car. Rental car companies offer no-haggle pricing and generally price their vehicles below market value.
For example, a 2017 Hyundai Sonata 2.4L with 41,557 miles is priced at $14,198 at Enterprise.* That’s $543 below Blue Book value. Even popular cars like the Nissan Rogue are priced below Blue Book value.
A 2017 Nissan Rogue FWD S with 49,751 miles is priced at $15,698 at Enterprise, which is $1,599 below Blue Book value. That’s over $1k in savings, and all without negotiating!
Rental cars are easy to buy
With the biggest rental companies, you can shop rental cars for sale online or in-person. Enterprise, Aviz, and Hertz all have intuitive online platforms that make it easy to view prices, pictures, and vehicle details, and to schedule a test drive. Purchases can sometimes be made by mail or completely online.
Avis even offers an “Ultimate Test Drive.” You get to drive the car for up to two hours for free. If you want the test drive to last longer, you can keep the car for up to three days for a small fee.
Smaller rental car companies, like Fox, also offer an online inventory, but their technology is out-of-date. Fox lists little more than the car’s make, model, color, year, and price – no pictures. For this reason, you might want to stick with the larger, more well-known rental companies.
Ready to buy a rental car?
While car rental companies usually provide financing options, it’s a good idea to shop around and compare loan options (just like you do when shopping for cars). Rental companies will only provide you with one financing offer. myAutoloan, however, can provide you with up to four financing offers at one time. You compare at your leisure and pick the best one for your needs.
Buying a rental car is a great move when it comes to saving money. Using myAutoloan for auto financing is a great move when it comes to saving time. Apply for a used car loan today and compare your financing options!
*Prices may vary based on zip code and time of search.