Hertz selling fleet of cars at a discount following bankruptcy

KABC logo
Thursday, August 13, 2020
Hertz selling fleet of cars at a discount following bankruptcy
Just how big are the discounts if you buy a car from Hertz? Hit play to hear how much you could save.

The coronavirus has taken a toll on a number of big businesses, including one rental car company.

Hertz had to file for bankruptcy following a dramatic drop in rentals during the pandemic. The company is selling its fleet of vehicles at a discount.

Now that the company has filed for Chapter 11, it has until the end of the year to get rid of 182,000 cars in its U.S. fleet.

That could mean discounts for car shoppers of more than 10 percent. This is welcome news as buyers may not find a whole lot of deals among used cars.

The average price of a used car is up over $700 in July, according to Edmunds, due to buyers flooding the market and a shortage of used cars for sale.

The best buys have been evaluated by iSeeCars.

If you are looking for a compact four-door, Hertz is selling the Kia Forte for an average price of $10,851, a 12.3% discount below market value.

Hertz is also selling luxury vehicles, like the BMW seven-series, for an average of $42,680, a discount of 13.7%.

If you have your sights set on a pickup, the company is selling the Toyota Tundra for an average of $31,383, a 12.6% discount.

Families looking to purchase a minivan might want to consider Hertz's Nissan Quest. The average sale price is $13,874, a 12% discount. Pricing is for model years 2017 to 2019.

You can shop online, and Hertz will have the vehicle delivered within a 75-mile radius.