Shopping for a used car can be an excellent way to save money on your next purchase, and considering a former rental car can provide even more options to choose from. Recently, major rental car agencies such as Hertz have been making headlines as they sell off their electric vehicle (EV) fleets, which mainly consist of Tesla Model 3 and Model Y EVs, along with other models from Chevrolet and sometimes Polestar.
When buying a rental car, major players like Avis, Enterprise, and Hertz offer car-buying services with various vehicles that are no longer part of their rental fleet. Their websites function similarly to traditional car inventory search tools, allowing you to filter through makes, models, years, and prices. Discounts off Kelley Blue Book values are often offered, making the purchase more cost-effective.
Rental companies typically follow scheduled maintenance for their fleet vehicles, meaning the cars they sell are generally newer and well-maintained. However, it’s essential to inspect any potential purchase to ensure it meets your standards. Rental cars are priced competitively due to bulk purchasing from manufacturers, although some buyers may have concerns about wear and tear affecting resale value.
Before purchasing a used rental car, it’s crucial to conduct a pre-purchase inspection either in person or through a reputable third-party shop. Some rental companies offer warranties, such as Hertz, Avis, and Enterprise, covering purchases for 12 months or 12,000 miles. Additional coverage options are often available for added peace of mind.
Certain rental companies may have an excess of EVs in their inventory, leading to lower prices on these models. For instance, Hertz has a significant number of Teslas available for sale at discounted rates due to a recent large-scale purchase. When considering buying a used rental EV, thorough inspection for any damages or collisions is recommended to ensure a quality purchase.
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