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Old 06-15-2020, 06:53 PM   #1 (permalink)
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Hertz Bankrupt but...

https://www.google.com/amp/s/amp.usa...amp/3182105001

After reading the article above I decided to look having bought my last 2 cars on a real dealer clearance

Very disappointing, just compared cars.com & Hertz and driving a similar distance to get the same cars there can easily be a 33% increase between Hertzes you can’t haggle price and the much cheaper small dealers you could haggle price.

I guess if you go straight retail and financing paying the inflated price you save a few percent but even then.

Only way it would work out is if they filed bankruptcy and you didn’t have to pay the balance (not)

I guess I never understand how these places sell anything, reminds me of the circuit city bankruptcy, just pay what you would’ve paid in 1998 10 years later

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Old 06-15-2020, 08:54 PM   #2 (permalink)
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I guess I never understand how these places sell anything, reminds me of the circuit city bankruptcy, just pay what you would’ve paid in 1998 10 years later
I don't understand how they expect to sell stock right now.
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Old 06-15-2020, 11:45 PM   #3 (permalink)
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I thought Hertz had some great deals.

2019 Cadillac CTS 3.6L Luxury - 22,000 miles - $27,000

https://www.hertzcarsales.com/rent2b...e323026661.htm

That is at least $10K under market price

(The CTS 3.6L Luxury started at $55,000)
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Old 06-15-2020, 11:52 PM   #4 (permalink)
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Under bankruptcy they have to put assets for sale, doesn't mean they have to actually sell any.
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Old 06-16-2020, 01:06 AM   #5 (permalink)
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They are selling lots of stock because stupid people are trying to time the fibrillation before the high frequency sellers quit manipulating (which sometimes goes for years if they don’t get put to bed)
I don’t really feel sorry for any of “those guys” that loose their gamble off splitting pennies. If I could ban high frequency trading I would.

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I thought Hertz had some great deals.

2019 Cadillac CTS 3.6L Luxury - 22,000 miles - $27,000

https://www.hertzcarsales.com/rent2b...e323026661.htm

That is at least $10K under market price

(The CTS 3.6L Luxury started at $55,000)
They are priced more competitively on newer stuff/more expensive/luxury
but still if I have to travel to get the hertz car

I might as well save a couple thousand for the same (or $5000 for the same but a RWD instead of AWD)

https://www.cars.com/vehicledetail/d...2857/overview/

In the current market they might be below the stated market rate slightly but...

I would also argue the market price (like NADA lists)
right now is much more volitile than normal.
They certainly are at best priced similar to how other other value/volume retailers are currently priced.

The fact 6 months ago I could have a place buy my car for more than outright amounts and now they say it’s worth less than half and won’t take it anyway tells me the black book has fell off a cliff,
Meaning the deal must be MUCH lower coupled with the ability to negotiate for any movement.

Last edited by rmay635703; 06-16-2020 at 01:17 AM..
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Old 06-16-2020, 09:36 AM   #6 (permalink)
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Quote:
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They are priced more competitively on newer stuff/more expensive/luxury but still if I have to travel to get the hertz car

I might as well save a couple thousand for the same (or $5000 for the same but a RWD instead of AWD)

https://www.cars.com/vehicledetail/d...2857/overview/
That is a different car with less miles. It is a Hertz car and is $24,189 on both Cars.com and Hertz.com

https://www.hertzcarsales.com/certif...6cdb16475a.htm


Good eye. I would gladly pay $3,000 less for the same car with 8,000 more miles.

That Cadillac 57% less than original MSRP for a 1 year old car. How is that not a good deal?
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Old 06-16-2020, 11:27 AM   #7 (permalink)
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What I don't get is how rental companies can sell used cars for more than private party value. I guess the market will bear that, but I don't know why.
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Old 06-16-2020, 01:01 PM   #8 (permalink)
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"Rental companies always take really good care of their cars!"

Renters sure don't!
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Old 06-16-2020, 06:15 PM   #9 (permalink)
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What I don't get is how rental companies can sell used cars for more than private party value. I guess the market will bear that, but I don't know why.
The same way dealers do.

Dealers charge a markup over private party because they supposedly have inspected a car, fixed any issues and do some cosmetic reconditioning. .Hertz does the same and also includes a 1 year / 12K mile warranty on their cars. They also provide financing and take trade ins.

How is Hertz different than CarMax?
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Old 06-16-2020, 06:22 PM   #10 (permalink)
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Quote:
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The same way dealers do.

Dealers charge a markup over private party because they supposedly have inspected a car, fixed any issues and do some cosmetic reconditioning. .Hertz does the same and also includes a 1 year / 12K mile warranty on their cars.

How is Hertz different than CarMax?
CarMax sells rental vehicles?

I suppose the warranty appeals to some people, but the cars already carry whatever the remainder of the manufacturer warranty is left. Reconditioning might have some value too, but in my experience it mostly amounts to heavy use of Armor All on the interior surfaces.

If you ask a dealer how a used car was driven, if it was driven by a young male or an old grandma, the maintenance records, etc, they can't tell you anything. All that stuff is known by an owner though. I suppose a rental vehicle would have regular maintenance, but then again just about any newer vehicle would have been maintained per schedule.

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