7 good reasons to buy used rental car
Buying a Used Rental Car
by Barbara Weddle
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Buying a Used Rental Car Makes Sense
Did you know that in addition to renting vehicles some rental-car companies also sell them? Though these rental-car companies do not advertise this fact (except by word of mouth), they do indeed sell off many of their used rental cars in lot sales or online after one or two years using them as fleet cars. So, if you're in the market for a dependable and competitively priced used car, purchasing a low-mileage late-model used rental car from a rental-car company may be the direction for you to take.
Why purchase a used car via a car-rental company over the traditional dealership method? Below are seven good reasons:
- Rental-car company fleet cars have been well-maintained and inspected regularly. They receive more care than the average consumer-owned vehicle. Each vehicle undergoes a thorough mechanical and cosmetic inspection before being placed on the sale lot. The mechanical portion of the inspection is performed by a National Institute for Automotive Service Excellence (ASE) certified technician. Please note that not all companies sell their used cars from a regular lot, but online.
- Because they omit a middleman, do not advertise, and their overall cost of operation is generally low, rental-car company car sales are able to transfer the savings to you the customer.
- Rental-car company car sales offer no-haggle pricing so you can avoid unpleasant negotiations and sales games.
- Rental-car company car sales may offer low APR financing. Before making my vehicle purchase from a rental-car company, I was pre-approved on a car loan through my own credit union at 5.1%; however, the car-rental company approved me for 4.4% through their own credit union.
- Some rental-car company car sales provide a re-purchase period (7 days) in which the buyer has the right to have the seller re-purchase the vehicle for the exact price originally paid to the seller with no questions asked. Some restrictions, such as the buyer returning the vehicle in the same condition as when delivered and the buyer selling back the vehicle free and clear of liens or other encumbrances, apply.
- Rental-car company car sales offer extended warranties on their used cars if the dealer warranty has run out. Also, they are required to provide to the consumer all important consumer information and documents the same as a traditional dealership as required by the Division of Motor Vehicles in the state you live in and any federal laws.
- Some rental-car company car sales offer (valid only for the car purchased from them) a 12-month limited mileage roadside assistance package for no extra charge.
Take the Next Step:
- For more on buying used, please click here.
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Also In This Week's Issue
- 5 car insurance questions for older drivers
- 7 top certified preowned cars under $25,000
- Factors for retirees when buying a car
- 5 driver-assist technologies to boost safety
- Can I save money leasing a car, then buying it?
- Can I really do my own simple car maintenance?
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