Hertz bankruptcy creates huge stock of bargain-priced used cars
As it navigates bankruptcy, the rental-car king is shedding its used-car stock, offering big discounts on Toyota, Kia, VW and Chevy models, among others.
It all started with Gran Turismo. From those early PlayStation days, Sean was drawn to anything with four wheels. Prior to joining the Roadshow team, he was a freelance contributor for Motor Authority, The Car Connection and Green Car Reports. As for what's in the garage, Sean owns a 2016 Chevrolet SS, and yes, it has Holden badges.
iSeeCars pored over 20,000 used cars, trucks and SUVs that Hertz currently has listed for sale, all in an effort to identify which models offer the greatest savings. Some of the cars are very typical models you'd imagine for a rental fleet, but others are a little more shocking. The list isn't made up of particularly old cars, either, since rental car companies work to keep their fleets updated for customers. Each car listed hails from the 2017 to 2019 model year.
That's great news for those in the market for a BMW 7 Series, because that's the single best deal from Hertz right now. The study showed the company is selling the luxury sedan nearly 14% below the average market value for an average savings of $6,877. Right behind it is the Chevrolet Trax, which is $1,714 cheaper than the average model listed.
Hertz bankruptcy triggers bargain-priced selldown of used-car stocks
A couple of other luxury cars make the list in the third and fourth spots. The Mercedes-Benz A-Class and Infiniti QX50 round out third and fourth place with savings on average of $4,252 and $4,145, respectively.
full-size pickup truck, the Tundra, rounds out the top five with an average of $4,714 in savings, or 12.6% below the pickup's average market value.
The final five include a number of more pedestrian vehicles. The Nissan Versa Note on average is $1,375 cheaper than the market average. Buick's Cascada convertible is $2,241 less expensive and the Kia Forte comes in nearly $1,500 cheaper than the market typically calls for. Rounding out the top 10 are the Volkswagen Golf ($2,023 cheaper on average) and the Nissan Quest minivan. Remember it? The very Japanese-looking family hauler is $1,810 cheaper than the market average.
The best deals on Hertz rental cars
Average % Below Market Value
BMW 7 Series
Nissan Versa Note
On average, used car buyers will find a vehicle is 8% cheaper than its average value, likely thanks to Hertz' firesale mode. It's a good chance to save pocket a savings of $1,389 on average, according to the study, and the savings extend to other models like the Chevrolet Silverado, Cadillac CTS, BMW 5 Series and more.
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