Hertz Files Chapter 11 Bankruptcy

[nm9stheham]

Wow.. just saw that yesterday. Hertz filed for Chapter 11 bankruptcy about a week back. Chapter 11 is for re-organization protection. I have done a ton of biz travel for 35+ years, and Hertz was always there. So much for being a Gold Club member LOL

Looking back into rates for car rentals in the mid-80's, I can recall $30-40 per day for a mid size. You can still get that kind of rate in the last year if you shopped around, so with inflation, their margins sure have been getting low. They must have been doing well on their car re-sales.

BTW, since the rental car companies are at a standstill now, that puts the kibosh on one more sales outlet for the car manufacturers. So if you have been thinking of a new/newer car, it's time to be looking.

 

[dartfreak75]

Wow. That's nuts wonder what will happen? Does that mean they are changing hands as far as an organization or they going out of business? A couple years ago when me and my wife was looking to buy a car we looked at enterprise and Hertz used cars. I was kinda weary of buying a rental car tho. It's no telling how people drive them. I'd say even tho they only have 50k miles someone run the guts out of it at some point lol

 

[SLOPAR72]

They need some OJ Simpson in their life..... Well, a different OJ. That was a big deal for Hertz back then. Just like many others and more to come Covid will be the stamp of approval....

JW

 

[diymirage]

i just read an article they are selling a lot of their cars for cheap
(i dont know if its true, i have no idea what market value is on, say a 2019 durango)

they got them right on their site, and from what i understand they will send it to the nearest location to you for a test drive