Does it make sense to buy a used rental car?
Most drivers only interact with a rental car while on vacation or vacation – and for many it can also be a way to get their own vehicle. Although rental cars go through a number of drivers, they also usually have extensive maintenance records and a low price. But before you leave the field with one of these cars, there are a few additional considerations to take into account.
How to buy a rental car
Much like buying a new or more traditionally used vehicle, buying a lease requires some upfront homework.
- Budget: Understand how much you can really afford and the financing options that best suit your budget. Keep in mind that the actual cost of your vehicle is much more than the advertised price online.
- Compare cars: The best resources for finding rental cars for sale are Enterprise, Avis, and Hertz. Just go to their websites and see what they have available in your area.
- Pre-qualified: Once you have a vehicle in mind, it’s wise to apply for pre-approved financing. Although many rental companies offer their own financing options, it is always a good idea to compare the prices so you know you’re getting the best deal.
- Inspect the vehicle: Take a test drive and see the car in person if you can, then look for the vehicle history report. This will give you an overview of damage, previous ownership, and some details about what’s under the hood.
- Check the warranty: Finally, ask if the vehicle has any type of guarantee – many may come with manufacturer’s warranty, and you may be able to get additional protections from the rental company.
Should I buy a rental car?
As is the case with most things when it comes to buying a car – one of the most important purchases you will ever encounter – you should fully consider the financial impact and suitability to your lifestyle. Although rental cars have a bad reputation as cars that have been abused by their renters, there is no guarantee that the used cars you buy have not been abused in the same way, except unless you personally know its history.
Advantages of buying a rental car
One of the benefits of buying a used car from a car rental company is that it often comes with a warranty of around one year, even cars that are no longer eligible for warranty. from the original manufacturer. Some car rental chains also offer a buy-back policy if you change your mind shortly after the sale. These features can provide additional peace of mind that one might not find when buying elsewhere.
In addition to the warranty that comes with a rental car, these vehicles have been well maintained and cleaned by the rental company. So even with more wear and tear present on your potential car, it’s still been checked on a lot more than the average used vehicle.
Disadvantages of buying a rental car
Although the cars have had strict maintenance, this does not negate the fact that they have been driven many. This means that your new set of wheels could have exorbitant renter mileage. Along with this, rental buying means a much more limited inventory available to shop around. The vehicles available are generally not equipped with all the features that some drivers are looking for.
The bottom line
If you’re going for a used rental car, do your research on typical vehicle prices, run a vehicle history report, and check the fine print when you check rental vehicle websites – many offer deals specials or redemption options. And, as with any used car, having the vehicle signed for by an independent mechanic can give you extra peace of mind.