GtX
Well-Known Member
Hertz is relying on asymmetric information and hoping to catch some uninformed buyer in a quick sale before the value of these drops even further
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Hertz liquidating JL Wranglers - Are these a good deal?
txj2go
Well-Known Member
If you look at used listings these days, and I've been following used listings for the past 4 months, these prices are actually pretty competitive. There aren't very many 2018 and 2019 used models on the market, and advertised prices are high for all of them. Some of the Hertz prices are around $29K on a vehicle that you might be able to buy new right now for $37k. Does a 25% discount sound good for 25k miles?
There are mixed opinions on buying used rentals. The companies generally take good care of the cars, some people who drive them are hard on them but some people are not. I'm not sure I would pay the same for a rental as I would a used car from a dealer, but you don't know how well that one was treated either. I rented one from Avis with about 25k miles and it looked and drove like new.
I think all used prices are high so naturally these prices are high too. I was noticing prices of new models that were low compared to used values, why would a person consider used instead of new. Well right now the new models at the low end have been worked over pretty well and not many are left so that makes the used market more attractive now. New cars are selling slowly but they are selling so depending on when the factory starts replenishing stock, the used market might be all that we've got.
Anybody who thinks the prices are not competitive in the market- go to cars.com and see if you can find anything better. The one thing that most of us won't know is what the selling price really would be for any of the competing vehicles. I figure a used car listing from a random dealer might be negotiated down a little bit, maybe a lot, whereas Hertz is no-haggle. So that might make some difference in how competitive the prices are.
The gossup on the internet says that the used car market will continue to decline so Hertz will have to adjust with the market, new car pricing is about as low as it is likely to go.
Another factor in low prices of new cars right now are the factory rebates, the dealers themselves don't seem to be offering much discount. Current rebates are gone in 3 days, the used market might be much better by comparison then. Or the factory might extend the rebates, I certainly don't know.
I think if a person wants a new car, they need to get on the stick and buy one now. If a person is wanting a bargain and is willing to buy used, wait longer and let the market decline more. However other talking heads on the internet are saying that the used market is rebounding already and prices are going back up.
All of my comments apply to the low end of the Wrangler pricing. I don't know how to compare the prices on the Sahara models.
There are mixed opinions on buying used rentals. The companies generally take good care of the cars, some people who drive them are hard on them but some people are not. I'm not sure I would pay the same for a rental as I would a used car from a dealer, but you don't know how well that one was treated either. I rented one from Avis with about 25k miles and it looked and drove like new.
I think all used prices are high so naturally these prices are high too. I was noticing prices of new models that were low compared to used values, why would a person consider used instead of new. Well right now the new models at the low end have been worked over pretty well and not many are left so that makes the used market more attractive now. New cars are selling slowly but they are selling so depending on when the factory starts replenishing stock, the used market might be all that we've got.
Anybody who thinks the prices are not competitive in the market- go to cars.com and see if you can find anything better. The one thing that most of us won't know is what the selling price really would be for any of the competing vehicles. I figure a used car listing from a random dealer might be negotiated down a little bit, maybe a lot, whereas Hertz is no-haggle. So that might make some difference in how competitive the prices are.
The gossup on the internet says that the used car market will continue to decline so Hertz will have to adjust with the market, new car pricing is about as low as it is likely to go.
Another factor in low prices of new cars right now are the factory rebates, the dealers themselves don't seem to be offering much discount. Current rebates are gone in 3 days, the used market might be much better by comparison then. Or the factory might extend the rebates, I certainly don't know.
I think if a person wants a new car, they need to get on the stick and buy one now. If a person is wanting a bargain and is willing to buy used, wait longer and let the market decline more. However other talking heads on the internet are saying that the used market is rebounding already and prices are going back up.
All of my comments apply to the low end of the Wrangler pricing. I don't know how to compare the prices on the Sahara models.
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Notorious
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I rented a Sahara from Enterprise when I was deciding if I wanted a JL or not.
That vehicle was a 2020 and had 4,250 miles on the odometer. Whoever had rented it before had personalized the instrument cluster, left their greasy fingerprints on the Uconnect screen, dirtied up the seats, broke the seat adjustment lever for the driver’s side, broke the turn signal lever, scuffed up the plastic on the rear tail light, the body on all four doors, and left deep marks on the front & rear bumper.
As I was walking around the vehicle I was pointing all of these things out to the enterprise manager who acknowledged them and said people abuse rentals. The party or parties that rented that vehicle prior to me showed no regard to the fact that they were in someone else’s vehicle.
Lastly, the steering wasn’t all that great in this one but I’m almost certain it was because someone didn’t give a shit about how they drove someone else’s vehicle.
Don’t buy a Jeep rental if you can help it. Pay more and buy new.
That vehicle was a 2020 and had 4,250 miles on the odometer. Whoever had rented it before had personalized the instrument cluster, left their greasy fingerprints on the Uconnect screen, dirtied up the seats, broke the seat adjustment lever for the driver’s side, broke the turn signal lever, scuffed up the plastic on the rear tail light, the body on all four doors, and left deep marks on the front & rear bumper.
As I was walking around the vehicle I was pointing all of these things out to the enterprise manager who acknowledged them and said people abuse rentals. The party or parties that rented that vehicle prior to me showed no regard to the fact that they were in someone else’s vehicle.
Lastly, the steering wasn’t all that great in this one but I’m almost certain it was because someone didn’t give a shit about how they drove someone else’s vehicle.
Don’t buy a Jeep rental if you can help it. Pay more and buy new.
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CivilJeep
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These prices are very high in my opinion. I picked up my NEW 2019 JLU Sahara 2 weeks ago with an out-the-door cash price lower than Hertz is asking before taxes, etc. The new 2019's are still out there, and the dealerships want them gone. That being said, some people don't do their due diligence, and will pay for it.
VNT
Well-Known Member
Yes I am in another club, Shelby Dodge Turbo cars, have annual meet, location varies but rent dragstrip and sometime large tracks, one year Michigan speedway.
Anyhow there is one guy in CA who flies in and gets a rental. They convert it into the nitrous rental for host hotel parking lot fun and runs at the dragstrip.
One year he got a Hemi 300, another a CTS Caddy, Charger RT etc
He got the 300 to run low 12's with 150 shot, had to buy new rear tires though
Anyhow there is one guy in CA who flies in and gets a rental. They convert it into the nitrous rental for host hotel parking lot fun and runs at the dragstrip.
One year he got a Hemi 300, another a CTS Caddy, Charger RT etc
He got the 300 to run low 12's with 150 shot, had to buy new rear tires though
viper88
Well-Known Member
You sure about that price? He have a trade? Even in a state with no sales tax that would be a unbelievable deal OTD.
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cosine
Well-Known Member
there are different variations of bankruptcy from restructuring to close down. with that, say hertz file for a restructure, hertz will be under the guidance of a group that will oversee the process. hertz did that and still went down into a deeper hole so the next move is to bankrupt and sell out. hertz can sell off all assess and take the money and pay off what they owe by a certain date. after that date the bankruptcy group takes over all operation and clears everything by auctions, etc leaving hertz no choice and get stuck with the remainder of the money owed. thats my understand and could be wrong too. but thats the basic idea. what i find ironic is that the ceo of hertz is running away with a $700k bonus.
hertz is "gambling" on the sales base on the competitive pricing and impulse buyers. but taking a chance in no sales because like some of us here stated that the better deals are buying new for a couple of thousand more. plus buying a rental, you are taking a higher risk in problems down the road due to abuse.
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RichD
Well-Known Member
I’ve got mixed feelings towards former rentals and leases. I’ve had good luck and some bad luck purchasing program cars over the years. There’s just no telling where these cars have been, and what went on when they were driven. My last was a 2017 Mustang. Looked great, priced ok, but jeeze I couldn’t get the stink out of it. Stale cigarette smoke, dead animals, sweat, who knows, but it was gross. NEW is often the way to go considering rebates, low financing, and other dealer incentives.
cosine
Well-Known Member
the enterprise by me is pretty good and have a wide range of vehicle to choose from. from economy cars to 1 ton trucks. i rented a top of the line explorer ($50k) for $20 / day (insureance deal) and it was nice n all. its was at the end of a rental and i would have the first crack in buying it. i declined because i'm not buying a rental. and the front end was screwed up. also i didnt want all the bells and whistles. it doent do me any good. i should of rented the 1 ton truck.
Arterius2
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Let me put it this way.
You would NOT, and I repeat, WOULD NOT want to buy any car that I rent after I was done with them.
The things I do to them.. oh boy!
Yea, fair warning. Just don’t!
You would NOT, and I repeat, WOULD NOT want to buy any car that I rent after I was done with them.
The things I do to them.. oh boy!
Yea, fair warning. Just don’t!
DavidRam
Well-Known Member
Yep! The last time I rented a Wrangler I took it to the Mojavi desert and caught air in it... all four wheels off the ground with 3 adults in it!
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