Most drivers only interact with a rental car on vacations or time away — and for many they can also be a means to getting a vehicle of their own. While rental cars go through a number of drivers, they also typically have extensive maintenance records and a low price tag. But before you drive off the lot with one of these cars there are a couple of extra considerations to account for.
How to buy a rental car
Just as if you were to purchase a new or used vehicle more traditionally, buying a rental requires some homework ahead of time.
- Budget: Understand how much you can truly afford and the financing options that work best for your budget. Keep in mind that the true cost of your vehicle is much more than just the price you see advertised online.
- Compare cars: The best resources for looking into rental cars for sale are Enterprise, Avis and Hertz. Simply go to their websites and see what they have available in your area.
- Prequalify: Once you have a vehicle in mind, it is wise to apply for preapproved financing. Although many rental companies will offer financing options of their own, it is always smart to shop around so you know you’re getting the best deal.
- Inspect the vehicle: Take a test drive and see the car in person if you can, then seek out the vehicle history report. This will give you insight into any damage incurred, previous ownership and some details about what’s under the hood.
- Check the warranty: Finally, ask if the vehicle has any kind of warranty — many can come with the manufacturer’s warranty, and you may be able to get additional protections from the rental company.
Should I buy a rental car?
As is the case with most things when it comes to car buying — one of the larger purchases you come across — you should fully consider the financial impact and the fit for your lifestyle. While rental cars have somewhat of a bad reputation as cars that have suffered abuse by their renters, there’s no guarantee any used car you buy hasn’t been abused in the same way unless you personally know its history.
Pros to buying a rental car
One advantage of buying a used car from a rental car company is that they often come with a warranty of about one year — even cars that no longer qualify for the original manufacturer’s warranty. Some rental car chains also offer a buy-back policy if you change your mind shortly after the sale. These features can provide some extra peace of mind that might not be found buying used elsewhere.
Along with the warranty that comes with a rental car, these vehicles have been well maintained and cleaned by the rental company. So even with more wear and tear present on your potential car it has still been checked up on much more than the average used vehicle.
Cons to buying a rental car
Although the cars had strict maintenance, it does not negate the fact that they were driven a lot. This means that your new set of wheels could have sky-high mileage accrued by renters. Along with this, buying rental means a much more limited inventory available to shop. The vehicles available do not typically come with all the bells and whistles some drivers are looking for.
The bottom line
If you settle on a used rental car, do your research on typical vehicle pricing, run a vehicle history report and check out the fine print when looking at rental vehicle websites — many offer special deals or buy-back options. And, as with any used car, getting the vehicle signed off on by an independent mechanic can give you extra peace of mind.
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