How to buy used rental cars. Purchasing a rental car may sound risky. Will it be dependable with numerous previous drivers? Used-car buyers, on the other hand, have nothing to worry about. Used automobiles for rent are typically well-kept, simple to obtain, and reasonably priced. The biggest rental companies inspect their vehicles before selling them, provide warranties, and allow for an extensive test drive. You may also trade in your current automobile. It’s exactly like buying from a car lot.
Many people in Canada and worldwide need a vehicle. Whether for family obligations, work, or a combination of the two. However, before making up your mind, consider the benefits and drawbacks of purchasing a rental car. When purchasing a used rental car, some additional considerations must be made. Continue reading to find out more.
Why are Rental Companies Selling Their Rental Cars?
Rental firms sell their rental automobiles to make room for newer models in their fleet. Rental cars suffer from significant wear and tear primarily because of time spent on the road. As a result, firms attempt to dump them after some time (2-4 years). It does not necessarily imply that the vehicles they currently own are defective. They typically discharge their automobiles frequently because rental cars must be clean and in good condition.
To summarize, rental firms frequently replace vehicles to maintain them clean, appealing, and low mileage. After all, no one wants a smoky, high-mileage jalopy for a rental automobile, especially if traveling with business or family.
Pros of Buying a Rental Cars
- No-Haggle Pricing. Rental firms set fixed prices because they do not want to waste time haggling over the cost of a used car.
- Long Test Drives. A typical dealership test drive is often a 15-minute journey around the block. The rental firms provide a considerably broader range of options.
- Lower Prices. Rental firms buy their automobiles in bulk and at a discount. As a result, they can market them at a lesser price than a regular dealership.
- Newer Vehicle for Less Money. It is not uncommon to come across vehicles that are 1 to 2 years old. That could mean getting the most recent body style or safety features. These automobiles would be thousands more expensive on the used car lot of a franchise dealership.
- Easy Purchase Process. It is simple to purchase a used rental car. The majority of purchases are made online. You may only need to visit the rental office for paperwork or test drives.
- Limited Warranty. Most huge rental firms will provide purchasers with a 12-month or 12,000-mile limited powertrain warranty. This is more coverage than you would obtain at an independent used car lot, where most automobiles are offered as-is. In any case, you will inherit any remaining balance on the vehicle’s manufacturing warranty.
- No Upsell. Cars are what you see, what you get. Therefore, there will be no upsells for premium stereos or tinted windows.
- Well-maintained Vehicles. Rental companies are meticulous about keeping their vehicles. All planned maintenance is completed at the manufacturer’s suggested intervals. Assuring all vehicles are functioning properly.
Cons of Buying a Rental Cars
- No Upgrades. No upgrades are the inverse of no upsell. Rental automobiles are purchased as-is without the option to add items like a surveillance system or window tints.
- Uncertain History. It’s tough to tell how hard a rental car has been driven previously. While some individuals may be cautious when driving a rental vehicle, others may drive more recklessly because it isn’t theirs.
- Higher-mileage Inventory. Used rentals typically have higher mileage than cars of similar age. The mileage may be excessive due to how frequently and far particular automobiles have been driven.
- Limited Inventory. Unlike a car dealership, which will have a large inventory of vehicles. A rental firm may only have a limited number of specific car makes and models.
- Potential to be out of Warranty. Because of the increased mileage, you may discover that the car has outlived its manufacturing warranty. Any needed repairs will most likely have to be paid out of pocket.
- It’s Forever Branded as a Rental Car. Even if you acquire a rental automobile years later, Carfax will constantly record that it was formerly classified as a rental car. If you decide to sell the automobile at some point, this may put off some potential purchasers.
Where Can You Buy a Used Rental Car?
Used rental automobiles can be bought directly from rental car businesses because many of these organizations have sales departments that handle such transactions. Car rental firms like Hertz, Avis, and Enterprise typically have a separate fleet for sale.
How to Buy Used Rental Cars
- Get Online. To get started, go online. You can visit the websites of Enterprise, Avis, and Hertz. Inventory can be viewed by price, body style, and location.
- Understand your Budget. Before shopping, spend some time figuring out what you can afford. To calculate and estimate your monthly automobile payments, use a loan calculator. Put in your payment range, APR estimate, and loan term.
- Know what vehicle you want and need. This one is significant. It is considerably simpler to narrow your search by body style and the number of seats once you have a starting point. Do you prefer a small car or a hatchback? A pickup or an SUV? Or all-wheel drive? What is the maximum quantity of luggage you can fit in your trunk? Do you want something more lavish, or is that not your priority? These are things to consider before you go shopping.
- Get pre-approved for your loan. Rental automobile firms usually provide their financing. However, before purchasing an automobile, it’s best to shop around for loans and obtain pre-approval. It’s critical if your credit score isn’t perfect because your APR might vary significantly between banks.
- Get the vehicle history report. Vehicle history reports are available from services such as Carfax. It’s a treasure trove of automobile-related information. You’ll get to check prior owners, odometer readings, collisions or repairs, damage, and open recalls for the vehicle. Acquiring a vehicle history report is not required, but it is strongly recommended.
- Use the rent-to-buy feature. A test drive is always recommended when purchasing an automobile. Test drives allow you to get a feel for the vehicle and observe how it affects you. Most crucial, determine whether any red flags exist. Purchasing a used rental automobile presents a once-in-a-lifetime opportunity. It’s something you won’t find when shopping from a regular dealer or used car dealership; the rent-to-buy feature. It’s always a good idea to test drive an automobile before purchasing it. However, most rental car companies will let you rent that car for a few days so you can determine if it works for you or not.
- Understand the “no-haggle” pricing. No haggle might imply a lack of stress and negotiation. No-haggle pricing is advertised by rental car businesses such as Enterprise, Avis, and Hertz. It means that you pay the price you see. Don’t be discouraged by the no-haggle policy. Used rental automobiles are typically less expensive than comparable vehicles on the market.
- Check out the warranty. Sometimes the automobile you’re looking at is new enough that it may still be covered under a manufacturer’s warranty. However, rental-car businesses also provide warranties and special benefits.
- Get your car inspected. If you found an automobile that meets your needs and purchased it at its no-haggle price, get it inspected. Even though rental companies adhere to stringent maintenance protocols, it is necessary to ensure everything is in proper condition.
Shop with Edmonton Auto Loans
Do you have second thoughts about acquiring a used rental automobile directly from the rental company? Not to worry. Several used car dealerships include rental vehicles in their inventory. These dealers may select the highest quality autos for reconditioning based on their experience.
Edmonton Auto Loans can help you in purchasing a used rental automobile. Our inventory has a variety of used rental cars for sale online in Edmonton and around Alberta, Canada. All automobiles in our inventory are certified pre-owned.
Certified used automobiles provide peace of mind. It has been thoroughly inspected and meets all mechanical specifications. Check out our high-quality vehicles here! Regardless of your credit situation, we can set up and approve your loan. Apply now and pre-approved immediately! You can reach us at 1-855-227-1669 for quick assistance. We’ll be happy to serve you.