Buying a rental car.. Any new experience?

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dm200
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Re: Buying a rental car.. Any new experience?

Post by dm200 » Wed Mar 08, 2017 1:16 pm

researcher wrote:
TIAX wrote:
Casper wrote:Would "nefarious" behavior in a rental be, for example, a getaway car in a bank robbery?
How about someone renting car and searching out drugs & prostitutes. Unfortunately, I knew someone who fell into addiction and would do this very thing. I'm sure it's not unheard of for people to fly into Miami/Vegas/LA, rent a car, and decide to partake in these things.
A car "with a past"!

researcher
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Re: Buying a rental car.. Any new experience?

Post by researcher » Wed Mar 08, 2017 1:27 pm

BogleMelon wrote:
physiorol wrote:It seems that with Certified Pre-owned most manufacturers give a 7 year/100,000 mile power train warranty, but with the rental car you only get 1 year/12,000 miles. I have been looking at the two options rental car company purchase versus CPO.
Then the CPO would be equal to = rental + extended warranty.
Since I am not doing extended warranties, then I would see no value for buying the same exact car at a higher price just for the sake of more warranty.
This is incorrect. You missed several differences between CPO and an ex-rental...
- The CPO comes with a warranty backed by the manufacturer (versus a third-party warranty company)
- CPO's must pass an xxx-point inspection. Items are either fixed or the car is not certified.
- All wear items must be within certain tolerances (newer tires, brakes, ect).

You can argue about how much value these differences add, but it is certainly more than $0.

BogleMelon
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Re: Buying a rental car.. Any new experience?

Post by BogleMelon » Wed Mar 08, 2017 1:37 pm

researcher wrote:
BogleMelon wrote:
physiorol wrote:It seems that with Certified Pre-owned most manufacturers give a 7 year/100,000 mile power train warranty, but with the rental car you only get 1 year/12,000 miles. I have been looking at the two options rental car company purchase versus CPO.
Then the CPO would be equal to = rental + extended warranty.
Since I am not doing extended warranties, then I would see no value for buying the same exact car at a higher price just for the sake of more warranty.
This is incorrect. You missed several differences between CPO and an ex-rental...
- The CPO comes with a warranty backed by the manufacturer (versus a third-party warranty company)
- CPO's must pass an xxx-point inspection. Items are either fixed or the car is not certified.
- All wear items must be within certain tolerances (newer tires, brakes, ect).

You can argue about how much value these differences add, but it is certainly more than $0.
When I was looking before at a car for myself, I went to a Hyundai dealership and drove one of these CPO's that they had. While I was still in the parking lot, it was so obvious that every time I hit the brakes there is some kind of weird noise! What were you saying? ah the xxx-point? yeah sure why not!!
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

researcher
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Re: Buying a rental car.. Any new experience?

Post by researcher » Wed Mar 08, 2017 1:54 pm

BogleMelon wrote:When I was looking before at a car for myself, I went to a Hyundai dealership and drove one of these CPO's that they had. While I was still in the parking lot, it was so obvious that every time I hit the brakes there is some kind of weird noise! What were you saying? ah the xxx-point? yeah sure why not!!
Could it possibly have been surface rust on the rotors from the car sitting on the dealership lot and not being driven regularly?
That happens to my vehicles every time I wash them.

Are you saying manufacturers do NOT replace worn wiper blades, hoses, brakes, tires, ect as part of the certification process, even though they claim to?

researcher
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Re: Buying a rental car.. Any new experience?

Post by researcher » Wed Mar 08, 2017 3:59 pm

I stumbled across this hilarious statement earlier, which sums up my thoughts on the matter...
Buying a formal rental car is like buying a used mattress from a hotel.
Awful things have been done in both and no amount of maintenance or febreze can take that back.

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Dutch
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Re: Buying a rental car.. Any new experience?

Post by Dutch » Wed Mar 08, 2017 3:59 pm

Researcher: For someone who does not have any experience buying a rental car - like the OP asked - you sure have a lot to say about the subject.

Hookers and drugs?

SixAlpha
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Re: Buying a rental car.. Any new experience?

Post by SixAlpha » Thu Mar 09, 2017 7:07 am

This had been a fun thread to read! :D

As someone who used to work for a rental car company, I would have no hesitation buying a rental car - but only if I could get it directly from the rental car company. The cars the rental companies sell directly to consumers represent a relatively small percentage of their overall fleet. Generally, it's only the best cars our of their fleet that are sold this way.

Anything they know has been abused (excessive damage, nasty interior, wrecked, missed an oil change, etc.) gets dumped off to auction... and then show up 6 weeks later at your local CarMax/Chevy/Ford dealer. I know CarMax is very good about disclosing that a vehicle is a former rental, as opposed to one of our local Nissan dealerships which buys boatloads of rental cars and actively tries to disguise them.

Also, most of the rental companies have buyback agreements with the auto manufacturers, where Chevy/Ford/Toyota/etc agree to take back a certain number of cars in exchange for the rental company maintaining them to a certain standard. Naturally, these vehicles usually end up as CPO's.

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dm200
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Re: Buying a rental car.. Any new experience?

Post by dm200 » Thu Mar 09, 2017 3:36 pm

SixAlpha wrote:This had been a fun thread to read! :D
As someone who used to work for a rental car company, I would have no hesitation buying a rental car - but only if I could get it directly from the rental car company. The cars the rental companies sell directly to consumers represent a relatively small percentage of their overall fleet. Generally, it's only the best cars our of their fleet that are sold this way.
Anything they know has been abused (excessive damage, nasty interior, wrecked, missed an oil change, etc.) gets dumped off to auction... and then show up 6 weeks later at your local CarMax/Chevy/Ford dealer. I know CarMax is very good about disclosing that a vehicle is a former rental, as opposed to one of our local Nissan dealerships which buys boatloads of rental cars and actively tries to disguise them.
Also, most of the rental companies have buyback agreements with the auto manufacturers, where Chevy/Ford/Toyota/etc agree to take back a certain number of cars in exchange for the rental company maintaining them to a certain standard. Naturally, these vehicles usually end up as CPO's.
What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are nor their former rentals?

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Re: Buying a rental car.. Any new experience?

Post by 2pedals » Thu Mar 09, 2017 10:31 pm

Another poster (2pedals) has purchased 4 ex-rental cars, and 50% had to have their transmissions replaced.
Yes I did break their transmissions after driving about 50,000 miles but they were fully covered and under manufacturer warranty at no cost to me. All used previous rental cars still running strong today models 1994, 2000, 2001 and 2013. :happy I have bought some cheap cars with low mileage and keep them running. Consider I paid only for some of the cheaper vehicles on the lot that had transferable manufacturer warranties for several more years, 1994 - ~$8000, 2000 - ~$7000, 2001 - $4750 and 2013 - ~$13000 I believe I scored big time! When I was much younger, I owned used dealership vehicles models 1972, 1972, 1978 and 1985 all with transmissions problems at one time or another, that I did have to pay for out of my own pocket. :( They were all purchased in used car lot dealerships (trade-ins from previous owners) cleaned up, detailed and most likely odometers rolled back (lipstick on a pig). Modern cars are significantly more dependable. I believe most American models prior to 2000 had generally poor reliability relative to today's vehicles.

While I don't disagree that rental cars might be abused "somewhat", I believe rental agencies do maintain cars effectively otherwise renters would not be too pleased. Someone's personal car could very well be abused as well without any maintenance at all! Would I buy a rental car again?, most certainly yes, if the used car deals are good. I would have a lot of reservations about buying a used car from a dealership. Sometimes used cars are too expensive (under supply) and other times cheap (over supply). I think we may be close to over supply now and you might be able get an excellent deal.

SixAlpha
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Re: Buying a rental car.. Any new experience?

Post by SixAlpha » Fri Mar 10, 2017 7:05 am

dm200 wrote: What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are nor their former rentals?
Probably, but it would be a very tiny percentage of their cars for sale and as a buyer it's pretty easy to tell the difference. These companies have literally hundreds of thousands of vehicle in their own fleets that they need to unload. I would think getting into the business of flipping would be a fairly low priority.

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Re: Buying a rental car.. Any new experience?

Post by tim1999 » Fri Mar 10, 2017 11:06 am

SixAlpha wrote:This had been a fun thread to read! :D

As someone who used to work for a rental car company, I would have no hesitation buying a rental car - but only if I could get it directly from the rental car company. The cars the rental companies sell directly to consumers represent a relatively small percentage of their overall fleet. Generally, it's only the best cars our of their fleet that are sold this way.

Anything they know has been abused (excessive damage, nasty interior, wrecked, missed an oil change, etc.) gets dumped off to auction... and then show up 6 weeks later at your local CarMax/Chevy/Ford dealer. I know CarMax is very good about disclosing that a vehicle is a former rental, as opposed to one of our local Nissan dealerships which buys boatloads of rental cars and actively tries to disguise them.
My bar-stool conversation with an Enterprise branch manager last year verifies this. The junk goes to auction and they only retail the cleanest of the crop. Interesting you mention Nissan. My local Nissan and Infiniti dealers are swamped with former rental Altimas and Rogues they are offering for seemingly cheap prices.

headedwest
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Re: Buying a rental car.. Any new experience?

Post by headedwest » Fri Mar 10, 2017 12:51 pm

I've had positive experiences buying a rental car (from Enterprise) and a CPO from a Mazda dealer. Had I been able to find the trim level I wanted from a rental agency, I would have done it the second time instead of the CPO, but all available rental cars nearby were pretty bare bones. I figured since I keep cars for around 10 years, it was worth paying a little more to get something almost new that had the options I wanted. Still, no qualms at all about buying from a rental agency, assuming they have what you want.

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Re: Buying a rental car.. Any new experience?

Post by fiverus » Tue Mar 14, 2017 12:00 pm

I just purchased a Toyota, Yaris, 2015, 39k miles from Hertz rental in January. Once 2017 hit, they were looking to get rid of their 2015's, they like to keep new fleets on hand. I went to their used car lot and test drove the vehicle before purchase. It's no-haggle price and they sell 'as is', mine had a dent, but I used a paintless dent removal company to fix it. The price was under 10k. It's a great place to purchase a used car.

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Re: Buying a rental car.. Any new experience?

Post by barreg » Tue Mar 14, 2017 12:33 pm

TheJourneyContinues wrote:
mrtiger wrote:Yes there is a chance that car was abused a little, however no more than car from dealer lot. Most cars are being rented by business people that want to go from point A to B and don't abuse cars for fun.
Agree with this. I traveled for work every week for years and rented about a billion cars with tons of different coworker drivers. I never drove with anyone who drove in a way that would intentionally damage the car. The one thing I would watch out for is cars that have both automatic and manual options - I did see a few instances where coworkers who were unfamiliar with manual drive were accidentally in the wrong gear and did some nasty sounding stuff to the engine before realizing they needed to shift over to automatic :(
I'm on the opposite side of this. While traveling for a large consulting company, one of my co-worker's favorite sayings was "Do you know what the difference is between a rental car and a four wheel drive? A rental car can go anywhere."

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Re: Buying a rental car.. Any new experience?

Post by jlawrence01 » Wed Mar 15, 2017 2:59 pm

If my car went away, I would buy a two year old Toyota Corolla from Hertz at about $11k and 36k miles in a moment. Since Hertz offers you a three day test drive, I would have it at my favorite mechanic for him to test out for a day and then take the car for an extended test drive.

I have purchased a lot of former rental cars as well as cars off of corporate leases without any issues. I have had more problems with some of the used vehicles purchased through dealers.

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Re: Buying a rental car.. Any new experience?

Post by Casper » Wed Mar 15, 2017 3:06 pm

barreg wrote:While traveling for a large consulting company, one of my co-worker's favorite sayings was "Do you know what the difference is between a rental car and a four wheel drive? A rental car can go anywhere."
And then where did this co-worker actually drive the rental car?

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Re: Buying a rental car.. Any new experience?

Post by FinanceGeek » Wed Mar 15, 2017 5:01 pm

dm200 wrote:What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are nor their former rentals?
This is a very serious claim.

Do you have any evidence that Enterprise sells vehicles which were not part of their rental fleet? The vehicles I have bought from Enterprise each came with a stack of maintenance receipts that had Enterprise's name all over them.

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Re: Buying a rental car.. Any new experience?

Post by physiorol » Wed Mar 15, 2017 5:06 pm

BogleMelon wrote:
physiorol wrote:
Quickfoot wrote:I just purchased a CPO that was originally a rental car so my warranty comes from the manufacturer. Buying rental cars is a good overall strategy because the rental companies maintain their vehicles much better than most private owners do. Remember more than likely you'll have an electronics failure well before a drive train failure.
It seems that with Certified Pre-owned most manufacturers give a 7 year/100,000 mile power train warranty, but with the rental car you only get 1 year/12,000 miles. I have been looking at the two options rental car company purchase versus CPO.
ِAssuming that the car condition, mileage is the same and they were both rentals, and since the CPO's are more expensive to buy. Then the CPO would be equal to = rental + extended warranty.
Since I am not doing extended warranties, then I would see no value for buying the same exact car at a higher price just for the sake of more warranty.
Good point.

physiorol
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Re: Buying a rental car.. Any new experience?

Post by physiorol » Wed Mar 15, 2017 5:12 pm

researcher wrote:
BogleMelon wrote:
physiorol wrote:It seems that with Certified Pre-owned most manufacturers give a 7 year/100,000 mile power train warranty, but with the rental car you only get 1 year/12,000 miles. I have been looking at the two options rental car company purchase versus CPO.
Then the CPO would be equal to = rental + extended warranty.
Since I am not doing extended warranties, then I would see no value for buying the same exact car at a higher price just for the sake of more warranty.
This is incorrect. You missed several differences between CPO and an ex-rental...
- The CPO comes with a warranty backed by the manufacturer (versus a third-party warranty company)
- CPO's must pass an xxx-point inspection. Items are either fixed or the car is not certified.
- All wear items must be within certain tolerances (newer tires, brakes, ect).

You can argue about how much value these differences add, but it is certainly more than $0.
Good point too

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Re: Buying a rental car.. Any new experience?

Post by BogleMelon » Wed Mar 15, 2017 5:20 pm

FinanceGeek wrote:
dm200 wrote:What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are nor their former rentals?
This is a very serious claim.

Do you have any evidence that Enterprise sells vehicles which were not part of their rental fleet? The vehicles I have bought from Enterprise each came with a stack of maintenance receipts that had Enterprise's name all over them.
I was checking a couple of cars at enterprise website and Hertz, and found that the Carfax (Autocheck at Hertz) showing more than 1 owner for some cars. I think dm200 is right..
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

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Re: Buying a rental car.. Any new experience?

Post by jlawrence01 » Wed Mar 15, 2017 6:51 pm

FinanceGeek wrote:
dm200 wrote:What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are nor their former rentals?
This is a very serious claim.

Do you have any evidence that Enterprise sells vehicles which were not part of their rental fleet? The vehicles I have bought from Enterprise each came with a stack of maintenance receipts that had Enterprise's name all over them.

Enterprise is a MAJOR corporate fleet provider. Quite often, they take vehicles back from a corporate customer and remarket the cars to maximize the value received on the vehicles.

There is NOTHING sinister or problematic with that.

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dm200
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Re: Buying a rental car.. Any new experience?

Post by dm200 » Thu Mar 16, 2017 1:54 pm

FinanceGeek wrote:
dm200 wrote:What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are not their former rentals?
This is a very serious claim.
Do you have any evidence that Enterprise sells vehicles which were not part of their rental fleet? The vehicles I have bought from Enterprise each came with a stack of maintenance receipts that had Enterprise's name all over them.
While mine was a small "sample", I made this conclusion from looking at the history of several cars offered for sale by Enterprise.

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Re: Buying a rental car.. Any new experience?

Post by researcher » Thu Mar 16, 2017 2:33 pm

dm200 wrote:
FinanceGeek wrote:
dm200 wrote:What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are not their former rentals?
This is a very serious claim.
Do you have any evidence that Enterprise sells vehicles which were not part of their rental fleet? The vehicles I have bought from Enterprise each came with a stack of maintenance receipts that had Enterprise's name all over them.
While mine was a small "sample", I made this conclusion from looking at the history of several cars offered for sale by Enterprise.
I just clicked through more than a dozen Enterprise cars for sale in my area...only 2 were purchased new buy Enterprise and used as a rental.

Nearly all were initially purchased from local dealerships by someone, then bought 10K-30K miles later at AUCTION by Enterprise, and immediately offered for sale.

Many of these cars had service performed at places like Jiffy Lube, Valvoline Instant Oil Change, Quick Lube, Midas, ect.
Last edited by researcher on Thu Mar 16, 2017 2:36 pm, edited 1 time in total.

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dm200
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Re: Buying a rental car.. Any new experience?

Post by dm200 » Thu Mar 16, 2017 2:36 pm

researcher wrote:
dm200 wrote:
FinanceGeek wrote:
dm200 wrote:What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are not their former rentals?
This is a very serious claim.
Do you have any evidence that Enterprise sells vehicles which were not part of their rental fleet? The vehicles I have bought from Enterprise each came with a stack of maintenance receipts that had Enterprise's name all over them.
While mine was a small "sample", I made this conclusion from looking at the history of several cars offered for sale by Enterprise.
I just clicked through more than a dozen Enterprise cars for sale in my area...only 2 were purchased new buy Enterprise and used as a rental.
Nearly all were initially purchased from local dealerships by someone, then bought at AUCTION by Enterprise, and immediately offered for sale.
Many of these cars had service performed at places like Jiffy Lube, Valvoline Instant Oil Change, Quick Lube, Midas, ect.
Yes, that is consistent with what I saw when looking at some Enterprise cars for sale. I wonder if the "mix" varies by gepgraphic location?

BogleMelon
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Re: Buying a rental car.. Any new experience?

Post by BogleMelon » Thu Mar 16, 2017 2:40 pm

dm200 wrote:
researcher wrote:
dm200 wrote:
FinanceGeek wrote:
dm200 wrote:What about Enterprise that, apparently, acquires a lot of its used cars for sale at such auctions? Do other car rental companies acquire cars for sale that are not their former rentals?
This is a very serious claim.
Do you have any evidence that Enterprise sells vehicles which were not part of their rental fleet? The vehicles I have bought from Enterprise each came with a stack of maintenance receipts that had Enterprise's name all over them.
While mine was a small "sample", I made this conclusion from looking at the history of several cars offered for sale by Enterprise.
I just clicked through more than a dozen Enterprise cars for sale in my area...only 2 were purchased new buy Enterprise and used as a rental.
Nearly all were initially purchased from local dealerships by someone, then bought at AUCTION by Enterprise, and immediately offered for sale.
Many of these cars had service performed at places like Jiffy Lube, Valvoline Instant Oil Change, Quick Lube, Midas, ect.
Yes, that is consistent with what I saw when looking at some Enterprise cars for sale. I wonder if the "mix" varies by gepgraphic location?
Hertz be it then!
"One of the funny things about stock market, every time one is buying another is selling, and both think they are astute" - William Feather

emanuel_v19
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Re: Buying a rental car.. Any new experience?

Post by emanuel_v19 » Thu Mar 16, 2017 3:13 pm

I think most rental cars do get abused and I avoid them as much possible. However, if you are mechanically inclined, go for it. Anything is fixable with some time and some tools!

Impromptu
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Re: Buying a rental car.. Any new experience?

Post by Impromptu » Sat Mar 18, 2017 6:24 am

In 2011 I purchased a 2010 Chevy Impala from Enterprise. It is lacking some of the fancy trim level options that I may have otherwise wanted. Despite that, the car has run very well for me. For my next car I might consider buying from them again.
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