Thinking About Buying A Used Rental Car?
When it comes time for you to buy a vehicle, you have a few options. You could buy a brand new one or a previously owned (used) vehicle. There is a third option you might not have considered; you could buy a used rental car. There are quite a few benefits of buying a rental car. They are thousands of dollars cheaper than a new car of the same model. Most of the time, rental cars are less than one year old. They have lower mileage than privately-owned used cars of the same model and year. However, it is important to consider that they usually have more dings, dents, and scratches because renters tend to be much less careful with rental cars. If a few cosmetic defects don’t bother you too much, buy a used rental car and save yourself thousands of dollars. Now the question is: should you buy one? Before you answer, ask yourself this:
1) How many years do think you will drive it?
It’s important for you to know how long you’re going to keep the car you buy. Used rental cars tend to have more general wear, so they don’t hold up as well 5 to 10 years down the road as a privately owned used car. If you’re looking to buy something that will last forever, you probably shouldn’t consider a used rental car.
2) Do cosmetic problems bother you very much?
While no one likes stains, smells, scratches, etc., most of us are willing to live with one or two. But used rental cars almost always have more stains, more smells, more scratches, and more dents than you’d find on a non-rental used. If you’re sensitive to certain smells (like cigarette smoke), if you’re a neat freak, or if you’re just picky, a used rental car isn’t a good choice.
3) Is your main concern just getting from here to there?
Although used rental cars tend to have more cosmetic defects, they often qualify for “certified used programs.” Backed by the manufacturer, they include upgraded warranty coverage and those low financing rates usually offered with new vehicle financing.
4) Do you have problems with your credit?
For those of you who have bad credit or no credit, buying a used rental car will give you lower monthly payments. Since used rental cars often qualify for “certified used programs,” there are more financing options available for people with credit problems.
5) Are maintenance and mechanical problems are concern of yours? They should be.
When compared to used cars that were privately-owned, used rental cars are better maintained. The reason for this is that rental car companies lease cars from the manufacturers rather than buy them. The terms of the lease require that all the suggested maintenance be completed, and the rental car company must keep all the documents that prove they have. Since their cars are under warranty, rental car companies almost always adjust or fix mechanical problems when they arise.
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