Buying a rental? So much inventory

[cosmic charlie]

A car is a car. Check it out and if it is in good shape for a good price buy it. Most rentals are Suzy Billy and the kids riding along on vacation.

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[XS]

I know not the same, but my 99' Durango was a rental with 100k miles on it when I bought it for $4k. I needed a truck fast and at the time used inventory around my area was pitiful and this was literally one of the best options available for less than $10k. It's been 11 years and another 100k miles and *knock on wood* she's still going! On the flip side I rented a Hyundai Sonata on a trip for work once and within the first two hours of driving it, it developed a bad miss and the right front tire went flat. I went to get the spare tire, and it was flat too. So I bought a can of that ghetto fix-a-tire shit from a convenience store and limped it back to Hertz and said here's your turd back I want a refund. So honestly it could go either way and I would get a careful inspection done on anything you're interested in.

 

[NoVaGT]

I just checked out Enterprise's Mustangs for sale.

They're smoking crack with the prices they're asking!!!!

 

[NeedForGreen]

My first Mustang was a rental from Canada I bought at a dealer and I had no idea until long after. I was very young and naive then. All I saw was a convertible and didn't even bother to look at the history. Other than the brakes and bearings the car was in good shape for the time I had it.
My wife's cousin owns a car rental business and the people who rent there beat the ever living crap out of the cars. It's as if they never stepped foot into a car. One woman dove the car so hard it ended up leaking oil. Kept driving it until the engine ceased. She wondered why the car wouldn't work anymore. He'd tell you to never buy one of his cars, but he does by all Chevy's because he gets them so dirt cheap at auctions. If buying a rental run through it with a fine tooth comb.

 

[ORRadtech]

I've never bought an off-rental car directly from the rental company. I've always bought from a dealer that has offered a warranty. My Mustang was a CPO car through a Ford dealership.
As far as the longevity concerns some have raised, they have not been an issue for me. The ones I have owned have been no more, or less, reliable than the new cars I've bought. The only real difference has been with the rentals I haven't been the one to take the first year depreciation hit.

 

[ORRadtech]

I just checked out Enterprise's Mustangs for sale.

They're smoking crack with the prices they're asking!!!!

I thought pretty much all used Mustangs were stupid expensive right now?

 

[NoVaGT]

.....I haven't been the one to take the first year depreciation hit.....

This really can be avoided by buying from the right dealership. There are a few that take so much off MSRP/sticker, you've got positive equity right from the start.

 

[NoVaGT]

I thought pretty much all used Mustangs were stupid expensive right now?

I guess they are.

Something else I found; Hertz has centers around the country where they sell their used rental vehicles. They're all closed right now. Just closed.

I guess due to COVID.

 

[ORRadtech]

This really can be avoided by buying from the right dealership. There are a few that take so much off MSRP/sticker, you've got positive equity right from the start.

I'll take your word for it. But my Mustang, that was under 18 months old when I got it, was literally within $200 of half the sticker. I doubt there are many dealers who would take half off the new car price.
Looking around i think I could sell it now for more than I paid. Which is moot cause I'm not selling...

 

[FreePenguin]

I'll take your word for it. But my Mustang, that was under 18 months old when I got it, was literally within $200 of half the sticker. I doubt there are many dealers who would take half off the new car price.
Looking around i think I could sell it now for more than I paid. Which is moot cause I'm not selling...

I mean.... deals are to be had! at least they used to be. I got 13k off my car. 34.5k msrp if I recall, and I got it for (23k otd). but. it was a 2 year leftover, lmao. they had two of them, one sat on showroom with 12 miles (I bought this) and another had 100 miles in parking lot.

full factory, warranty etc all started 02/20/19. for a 2017 Mustang EcoBoost, had twins. other one was sold at same time. The dealership had a few old cars, even had like a 2010 Shelby, sitting behind mine with zero miles on it. brand new never sold. asked me if I wanted it, but I was only interested in the mustang eco.

you can kinda see it behind my car. --- man she's changed a lot in the last 2 years. When I was shopping, I saw a few FULLY LOADED like convertibles, full packages etc for similar or same price as what I had. I actually used some of those listings to haggle my deal.


Those deals are dead due to covid/stimulus/economy I guess

 

[ice445]

This really can be avoided by buying from the right dealership. There are a few that take so much off MSRP/sticker, you've got positive equity right from the start.

The only way to avoid nuclear depreciation is to buy a stripper GT. Really just how it is, the Premiums and the associated packages are just money out of your pocket immediately for the most part. Not saying the options aren't worth it, but they just don't seem to add much value a few years down the line compared to just having the V8 under the hood. Of course covid has changed things somewhat, "fun" cars and sports cars have been selling out everywhere and inventory has been low, so values of used ones have been holding strong. There was a few months going where I could have got exactly what I paid for my car brand new and walked clean from it (but for me that was pointless, I bought the car to have fun).

Also buying a rental car is a terrible idea no matter what. Especially a performance car. Run ragged most of the time on the lowest quality gas and oil, no thanks. Like yeah, Ford engineers the car for exactly the type of usage case so it doesn't blow up, but I just don't feel like that much life shaved off is worth the few thousand you might save compared to buying from a private seller.

 

[NoVaGT]

The only way to avoid nuclear depreciation is to buy a stripper GT. Really just how it is......

I disagree.

It doesn't matter what spec the car is, it's just how much off MSRP you get. KBB sets the values, and they factor in the spec. If you get 15% or more off sticker, you're deep in the positive when you drive it off the lot.

 

[EmCel]

I rented a couple of cars in the past and didn't dog on them at all but that's just me. Didn't really want to drive it crazy and get stuck in the middle of nowhere since I was traveling long distances.

I'm sure the maintenance on the rental cars are on point since that's their money maker.

 

[shogun32]

Hertz has centers around the country where they sell their used rental vehicles. They're all closed right now. Just closed.

I guess due to COVID.

bankruptcy actually. I think there's a fight between the lenders and Hertz mgmt over valuation where Hertz just wants them off the books no matter the loss and the lenders want them sold for top dollar so they don't take it up the ass.

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