Did you recently take on (or consider) a loan of 84 months or longer on a car purchase?
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Purchasing Rental & Program Vehicles
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I guess as long as you are buying a used, you are taking a chance regardless. It's just a matter of which place poses the least risk. Just need to venture out there.
PS. I'd never buy from a private party (no warranty, no return, never how the owner drove...)
If the rental isn't reduced in price to be a real bargain then why should you assume the risk ??
My observation is that they are priced WAY too high. Keep in mind that when you sell the car that those extra miles on a rental car will come right off of the trade-in/private sales price. Therefore in my opinion a rental car is NO bargain.
I'm sure, on the other hand, that you could purchase a rental and have a good experience. But be prepared to keep the car a LONG time for the actual discount to be realized.
jasmith - you don't actually PAY what they're ASKING, do you???
By the way I have bought cars from private parties on many occasions. There is indeed some risk, however the lower (non-retail) price can discount somewhat the risk of repairs. My experiance is that every private party used car need SOME work. However the work required is less than the retail mark-up.
Terry.
Too bad they don't negotiate, though...takes all the fun out of buying a car!!!!
They pay off their loan and then say "Oh No - What am I going to do with all of this loose money".
They buy a new car and after trying to sell their old but still quite fine car for an unreasonable price are then ready after a couple of months to cut me a real deal. I've done it too many times.
You get a feel for the person, you can look at the history, you can ask questions: "Does she tow okay?" -- "Sure, I towed a 5,000 lb. travel trailer through the Rockies with it, no problem!"
So ya go buy something else or figure the new transmission into the price...
I've had really good luck buying old cars from people I felt comfortable I could take at their word.
And there isn't a bargaining technique superior to pulling green money out of your pocket, either...
Of course, you get to deal with all the kooks "I know it's worth $5k, the Credit Union said so!"... and then there was the older gentleman with the 150k miles Caravan 4banger... nice clean car, well taken care of, he was justly proud of it.. until I discovered there was oil dripping from the tail pipe -- I mean, drip drip drip, just at idle!!! I point it out to him, politely, and he gets mad at me like it's my fault...!?
Buying a rental: I'd shy away from the cheapo cars, but your minvans? Ford Crown Vics? With low miles, why not... What are the odds someone would abuse a Grand Marquis?
-Mathias
I have bought (And just sold 2) ex-rantal Jags. Now I sorta doubt the $129.99/day XJ8s are getting beaten on like the 129.99/Week Kias (Although the Jag can prolly take more abuse).
You see some that are clean, no paint, etc and are nice. You see some that were driven to Disney, parked on top of the Castle, and pushed off of it.
It's like anything else..
Bill
Is buying a rental the CHEAPEST way to go? Usally not. However, I have found the lot managers tend to 1) allow you to test drive the vehicles alone, 2) take the car to your mechanic, 3) Have some leeway in price and 4) tend to be fairly competitive with the local market.
To me, I prefer buying in this manner over a private party. First, with the majors, they take care of the vehicles - proper maintenance, etc. Second, the private parties generally have delusions of grandeur as to what their special car is worth. To the lot managers, it is just a unit to move.
For example, Hertz Car Sales prices used cars competitively but will not negotiate. However they do drop prices weekly or bimonthly if a car doesn't sell. Typically its $500 a drop. So if you play your cards right you can get a car for true wholesale, even lower if you're lucky. If a car doesn't sell in 6-8 weeks, off it goes to the auction.
If you're a AAA member you can get a discount.
If you're a Hertz #1 Club Gold member you can get a discount.
Pay attention, shop carefully, and you can get a smokin' deal from places like Hertz.
That's what I mean by paying attention.
Now adjust the price of the rental for 15 cents a mile (or so) and 1K down or so if it's last years model.
So where's the BIG bargain in the used rental??
I stick with my point about rentals being no great deal. Keep in mind that if you sell the car in the near term that those extra miles will come off the price that you can sell it for.
Also, if you finance the car, used cars pay a higher interest rate than for new cars.
In short here is my opinion of rentals
1) No bargain on price
2) Can be beat up considering they are not that old
3) Shorter warrantee
4) no new car smell
5) Higher interest payments
new one ! Todays paper 00 Corolla $12,500...
00 Chevy/Geo prism $7995. Both a dealers.
Same car, made in the same plant............
Looking at a 00 Sebring ragtop 18k miles $12k.
Those used Toys bring ALL THE MONEY !
I assume that the 2002 (old models) equipped similarly went for 12-13 K (with the incentives etc).
Hertz is selling 2002 rental Coroll Le units for $9595 and 2003 units for $12995. All of the rental units have about 25k miles on them.
I stand by my statement that if you adjust for the miles then rental cars are indeed no bargain.
The dealers around here get ALL the $$$$ for
a used Toyota ! Other cars go begging at any
price! Heck how much did a 00 Sebring ragtop go
for new ? 25k? or so......Buy it now for 12k.
SORRY...I see California....Prob. the rental guys
buy more Toys in your neck of the woods than NY.
Around here its all Detroit iron or Kias...But
no toys to rent....Maybe why the price is lower.
And I do know values fairly well - thank you.
Anyway, yoda dealers in my area are asking 15,3 on a new 03 corolla LE (auto).
tuneful
The new Corolla prices are also as stated.
So Sonjaab - who isn't up on their values ??
Geo, use this sentence instead:
Where are you at, buckethead?
See, that way you end the sentence with a noun. LOL! (Reference from an old episode of "Designing Women", the show my wife used to make me watch as a trade-off for watching ESPN Speedvision.)
Please accept an apology
As for convertible/convertable well all I can say is - Touche'
Sorry, I'm feeling in a mood to pick nits.
storm in central NY....NO power for anybody
around here since Friday AM. I have a generator
at my Bar, rest., hotel...So we have power , heat ,TV and the phones work ! Lots of folks and kids staying here....Feeding all for free and
selling LOTS of beer ! Its been a MADHOUSE !!
Friends and strangers
sleeping in the rooms and hallways for free too.
I survived the ice storm in Alexandria Bay NY
in 96-97.....I want to run downstairs and KISS
that generator !......Peace out...........geo
convertible for my fleet of cars for the summer while we have major snow and ice and no power !
Think I will get a good deal on one this week?
Thats where I got the prices on used Toyotas
today in my neck of the woods!
http://www.syracuse.com
IMO a better value is a new, factory order with minimal options, doesn't cost much more than a 2 yr old car with 30K miles
I don't know if the low-option car route is the best way to minimize your long term car value. Just look at how the rental car companies order their cars to get a good idea as to which options and trim lines hold their value best. These guys have been doing it for a long time and (hopefully) have the game down by now.
Weather - It's a beautiful sunny spring day here in Socal. 70-s to 80's. I had lunch at the outdoor bar-be-cue and got out a bit. Too bad I have to be at work though.
a ragtop ! My folks are at the condo in Daytona !
CRAZY DAY !.................
Personally, I will take the car with 25k miles for 30-35% less than new. i am going to run the vehicle 'til 200k miles anyway. Why pay so much for the first 25k miles?
Meanwhile, the 5k stays in the investment account.
Abused Thrify Rent-a-Car Neon
Even if it isn't true (supposedly).
There are all kinds of idiots out there. I can see someone doing it.
It's not MY car !
When I turned the car in I told them that the car wouldn't go faster than about 60 miles per hour and it was making the most horrible loud screaming noise. I had to keep it floored just to do 60 MPH.
Then they tell me you are supposed to put it in drive (D) not in 1st (1).
Oh - now they tell me. Those rental cars are really junk
Me and two buddies, chuck and buck, were heading into St. Louis in Chuck's K Car to do a little research at Wash U. On the way in, I notice that the Oil light was on.
"Er Chuck, should we pull over at the next exit and check the oil?" I say.
"Dagnabit, I'm sick and tired of people telling me to pull over and check the oil, first my girl friend and now you guys! I've checked the frickin' oil and it's fine! The guage is busted." (chuck was well caffeinated and a little highly strung).
Buck chimes in now "You sure you don't want to check it?"
"NO, DANGIT!" little veins start poping out on chuck's balding head.
Well, we get to the library, do our thing, and on the way out, chuck stops for gas. While he's paying, Buck and I pop the hood and check the oil. Bone dry. Chuck returns just as we are examining the parched dip stick, and putting it in for a double check. His comment: "That's where the oil is?"
Turns out Chucky'd been checking the transmission fluid.
Best part was, right after he had his Eureka moment, an old guy walked by just at that exact moment, had to be in his 70's, stops, looks at Chuck and says "Dumb M******R, who don't know that?" Buck and I lost it and didn't regain our composure until we were back in Illinois.
First off, the rentals were well-maintained because the computer tells you when they need oil changes, etc. If a customer complained that a rental was making a sound or pulling to the right or whatever, we ground them and get them fixed before re-renting them. Believe me, the last thing I wanted was the next customer to call me at 559 pm and having to go switch them out because the rental broke down!
As far as kids "ragging out" rentals, I believe only Enterprise rents to 18-21 year olds, (and that is only on a verifiable insurance replacement rental). Hey, the way I looked at it, if you feel the need to "rag out" a chevy malibu, your life must be pretty sad, more power to you!
Anyway, does anyone have any specific questions for a former rental manager?
While I fully believe you're the type of guy to get maintenance done, there's still a human element with folks that would put service off, promising themselves they'd get it in after this renter was done. Of course, it goes out on a 30 day for a huge body shop repair....and gets another 5,000 miles on the clock.
I'll be renting from Enterprise in two weeks when I run down to South Carolina to pick up my CBR 900 RR - fits nicely in the back of an S-10 or cargo van.
Can you swing me a discount for telling everyone on Edmunds what a nice guy you are??
A) A local firm
C) They are a pretty good customer of my employer.
D) My boss' wife works for them.
We have an engineer who bought a former ERAC LeSabre and has about 160K on it now. He'll probably go back to an ERAC sale or to ELCO Chevrolet in St. Louis to look for another car.
TB
I would use them more BUT you never know when the agency will be open at the airport.
It really doesn't matter whether it was true or not... it's an enjoyable read. I thought others who hadn't seen it might enjoy it.
Here's a secret for your upcoming S. Carolina rental. It sounds like you are a service advisor, so you need to call 1-800-VIP-ERAC and tell them you are a service writer at xy dealership that has an Enterprise in it. They should give you a better rate that way, maybe 15% off. Hope this helps!
Cool connection, though...
Hertz Rental Car Sales: '02 Toy Corolla LE 30kmi and no other options, $14995
---- Toyota dealer: '03 Toy Corolla LE with no other options, $14395 (8 available)
Makes you think, huh?
JP
I think I can sum it up in two words - "Dirty Cars"
So you save 5 dollars at Enterprise - It isn't worth it to me. Who wants to spend time in somebody else's trash heap.
Maybe Enterprise cars are better where the rest of you are from - but where I live you get what you pay for.
I sure hope they take better care of the maintainance of their cars than they spend on cleaning.