07-21-2021, 04:12 PM | #29 | |
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Drives: 2016 Camaro 2SS Join Date: Sep 2020
Location: FL
Posts: 1,129
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Quote:
4 years from now you're probably not even going to see the name hertz anymore unless someone buys them and retains their name. Around here Enterprise has a monopoly on the rental car market. Hertz raised their prices too on their used mustangs btw. I could have scored a killer deal on a 2ss ragtop when I was looking. 2019 28k miles under 32k with warranty left but more I thought about it I knew those cars take a heavy beating. |
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07-21-2021, 04:28 PM | #30 | |
Hot Camaro
Drives: '20 2SS Convertible 6MT Join Date: May 2020
Location: CT
Posts: 3,534
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Quote:
Rental companies are ALWAYS selling used cars. People weren't buying them, though, because the market for them was soft. And, their selling was because they were also buying - part of their efforts to improve their fleet and have newer cars. In other words, when COVID hit, they got caught in a perfect storm of having spent money to BUY cars but weren't recouping money from SELLING cars at the same rate. They proposed selling something like 15% of their fleet after they filed for bankruptcy and it got approved. The reason it worked, though, is because the market actually came back a bit at the time they were starting to sell off newer, more expensive cars. You do know that they have exited bankruptcy protection, right? They've recovered their business far enough, and have a go-forward plan, to where they can become profitable and bring value to shareholders and customers. |
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07-21-2021, 05:32 PM | #31 |
Drives: 2018 ZLE Join Date: Feb 2018
Location: Palm City Fl
Posts: 1,348
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Hard to get mad about people trying to make money.
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07-21-2021, 09:01 PM | #32 | |
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Drives: 2016 Camaro 2SS Join Date: Sep 2020
Location: FL
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The main issue with the rental market is that Enterprise just totally took control of it. At least in this part of FL you see an enterprise literally every couple miles. Even our Chevy dealer has an Enterprise inside their dealership. Then another one just 3 miles away, and 3 miles away is yet another one at the airport. Enterprise down here didn't sell off a lot of their inventory during covid. The rental companies tend to sell their car, at least their performance cars when they hit 25-28,000 miles. Makes me wonder because they want to unload them before the warranty is up knowing they take a beating. Also, they're a depreciating asset for them Sorta like the airlines I guess and how they sell many of their planes once they get a certain age due to accounting reasons. I nearly jumped on a 2ss rag top. The only think missing from the Hertz and Enterprise 2ss ragtops is they do not have the NPP on them. At the time the price was unbeatable BUT people on this forum talked me out of buying a rental car. |
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07-22-2021, 07:05 AM | #33 | |
Hot Camaro
Drives: '20 2SS Convertible 6MT Join Date: May 2020
Location: CT
Posts: 3,534
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Quote:
Hertz was the only company that "had" to sell a lot of cars because they were the only ones that were cash-poor going into the pandemic. The timing of the sale of the car is less about the warranty and more about its overall residual value and getting that depreciating asset off of the books. |
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07-22-2021, 07:26 AM | #34 |
Drives: 2016 Camaro 2SS Hyper Blue Metallic Join Date: May 2020
Location: WI
Posts: 2,451
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Right... I mean it really is no different then guys on here selling their car to Vroom because they are being offered a ridiculous offer. Guys are taking the payout, why wouldn't the dealers try. Start high and come down. Can always go down, can't ever go up.
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07-22-2021, 08:20 AM | #35 | |
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Drives: 2016 Camaro 2SS Join Date: Sep 2020
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Some poor sucker won't realize they could just go to Hertz and buy it for far cheaper lol. I knew right away where that car was from. I wonder how many rentals they buy cheap then jack the price up. |
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07-22-2021, 11:11 AM | #36 |
Drives: Krypton Green V6 1LE Join Date: May 2020
Location: DFW
Posts: 178
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that's not true anymore lol dealers are using "live data" to justify prices. which means when the low comparables sell, they raise the price. Sonic automotive group is one of the worst offenders of this.. their prices could swing $1500-$2000 in a 24 hr time frame and they'd call it normal. Both up and down
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