A few months back the wife and I bought our first new-to-us car in over 4 years. While we searched Craigslist, CarMax, and numerous new and used car dealerships, we ended up deciding to go through the Hertz Rent2Buy program.
While we were a little nervous about buying a rental car, the overall experience was excellent and it ended up saving us a few thousand dollars!
I was impressed with their selection at the time when we were buying a car, but to make sure this “pro” still applied I just jumped on their site and I was able to pull up over 250 current sedans they have available to sell within my area.
Part of the Hertz Rent2Buy program actually involves renting the car for up to 3 days.
While I’ll mention this in the “cons” section as well, you have to pay a $200 deposit and rent the car for $50/day during that 3-day period. Basically, you ARE renting a car. You walk up to their counter in the airport just like you were renting a car from them, you pay your deposit, and they give you the keys.
If you decide to buy the car through the Hertz Rent2Buy program, then the rental fee and deposit are refunded. If however, you decide to test drive a new car or discover that the Rent2Buy program isn’t for you, then you are charged the $50/day rental fee.
One of the things that I was absolutely impressed with was how little we had to do after we decided to buy the car.
I didn’t have to go to the DMV to transfer plates (or to get new ones) and I didn’t even have to go to pay sales tax! Hertz Rent2Buy took care of all of that for us! While this may not be uncommon when buying a new car, I was pretty stoked knowing that I didn’t have to make a trip to the much-maligned DMV!
After buying the car, Hertz Rent2Buy mailed a package of documents that we needed to return within 48 hours. It included title information, sales tax paperwork, plate transfer paperwork, and the contract. One of the documents required a notary’s signature which was a little bit of a pain to get within the short time period.
Understandably, most people’s hesitation with buying a car through a program like Hertz Rent2Buy is the fact that you’re buying a rental car. However, they make up for some of this risk by giving you a ridiculously low price.
My dad paid more for his certified pre-owned car (same make/model) that he bought at a dealership even though the car we bought from Hertz was 2 years newer and had 10,000 less miles on it.
We haven’t had any issues with our car and we’ve had it for over 3 months. While our experience has gone well, it’s possible you’ll find a car that hasn’t been taken care of.
This was certainly a pro for us, but if you’re looking to find a car for under $10,000 then Hertz Rent2Buy isn’t your place. All of the cars will be 1-2 years old and have 25,000-40,000 miles on them.
This was the one thing that irked me in the whole process. I’m sure it says it on their website somewhere, but I never came across a spot where they said they charge a fee for buying the car.
However, when we got the breakdown of our payment, the $200 sales fee was right there in the line items. So be prepared…the price you see on their site isn’t exactly what you pay.
While I don’t like haggling for prices, it’s nice to get a discount especially when you’re paying with cash. However, much like CarMax, Hertz Rent2Buy wouldn’t come down on their price at all. It wasn’t too hard to swallow though considering how great of a deal we were getting.
I’m sure this is the case with most states, but you can easily go to the State’s website and estimate your sales tax charges on a vehicle. Despite that information being readily available, Hertz Rent2Buy charged us a 7% sales tax which made our initial out-of-pocket price for the car quite a bit more than we were ready for.
The good part was that within 2-3 weeks Hertz Rent2Buy sent us a refund check (as they promised) for a little over $800.
All-in-all I think the process went smoothly and I’ll consider buying a car from Hertz Rent2Buy again. Sure, we were a little skeptical and nervous about buying a rental car, but at this stage in our life I was fine with saving $2,500.
Picture by Time to Take Pictures.
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