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If the rental car companies liquidate en masse, how low would the prices go before flippers would buy them all up, just to resell later in the year at a possible profit?
I don't believe many will be able to buy anything outside basic necessities in few months. Inertia thinking, like this post, has very little base in reality of sinking economy. Who you gonna sell it to? 40 million unemployed by then?
I don't doubt that someone will probably get a smokin deal on a bunch of Chevy Sonics and Nissan Versas, but then being able to unload them onto someone else for a profit? Well, yeah I guess.
Those are already some of the cheapest cars that you can get. How much more cheaper would they have to be until people would actually want to own one?
I don't believe many will be able to buy anything outside basic necessities in few months. Inertia thinking, like this post, has very little base in reality of sinking economy. Who you gonna sell it to? 40 million unemployed by then?
What about the people who need to re-enter the workforce and don't have a vehicle (or have an unreliable vehicle)?
With so many going back to work but afraid to take transit, why would there not be a demand for a cheap car that a blue-collar worker can actually afford?
Location: Danbury CT covering all of Fairfield County
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Couple of dealers have previous rental cars on lot, listed in the carfax. I'd looking into cost effective transportation options as my lease is up in the beginning of August. They have a couple of used 2019 Mazda cx5 grand touring awd with about 16,000 miles for about $26,000. Hertz a wide vareity of 2020 Hyundai Tuscon value edition with awd under 15,000 miles for a little over $20,000, which might be a little high since you can get brand new for about $25,000 at most. Enterprise is selling your choice of 2019 Hyundia tuscson se awd for high $17k with 25k miles. They are also selling 2019 Ford Escape SE awd in the mid $18,000s with about 20,000 miles. Nothing really valued enough currently for a flip or get in to request info
Maybe I have a skewed viewpoint, because I've always been gainfully employed, either part-time or full-time, since I was 12 years old. Therefore I've pretty much had a reasonable amount of money all my life.
Having said that, in the last 6-8 years of my full-time job, 2-3 of my colleagues and I were sent off on several remote installation jobs, to help with the installation of equipment that our employer had sold. These "trips" were within the state, so we went by car. Our employer's insurance regulations wouldn't allow us to drive our own cars, so we used rentals. One of the guys, when it came to these cars, was a real jackass. He'd literally, "drive them like he stole them". One time I asked him why he did this, and his answer was, "because it's not mine".
I had a friend who was a competitive shooter. A number of years ago, he and two of his friends were going to attend a competitive shooting event, some 3-400 miles away, in another state. They all owned both small, as well as older cars, so they decided to rent a full-sized car, so they could make the trip in a more comfortable, and (hopefully) more reliable car. My friend, when they had stopped for lunch, after driving about 200 miles at 65 MPH, decided to check the oil in the car. Bottom line, it took almost 3 quarts, to bring it up to an acceptable level.
After hearing stories like that, I'd be hard pressed to consider buying a former rental car, unless I needed a "winter car", and wanted something that was priced REALLY cheap..........
Maybe I have a skewed viewpoint, because I've always been gainfully employed, either part-time or full-time, since I was 12 years old. Therefore I've pretty much had a reasonable amount of money all my life.
Having said that, in the last 6-8 years of my full-time job, 2-3 of my colleagues and I were sent off on several remote installation jobs, to help with the installation of equipment that our employer had sold. These "trips" were within the state, so we went by car. Our employer's insurance regulations wouldn't allow us to drive our own cars, so we used rentals. One of the guys, when it came to these cars, was a real jackass. He'd literally, "drive them like he stole them". One time I asked him why he did this, and his answer was, "because it's not mine".
I had a friend who was a competitive shooter. A number of years ago, he and two of his friends were going to attend a competitive shooting event, some 3-400 miles away, in another state. They all owned both small, as well as older cars, so they decided to rent a full-sized car, so they could make the trip in a more comfortable, and (hopefully) more reliable car. My friend, when they had stopped for lunch, after driving about 200 miles at 65 MPH, decided to check the oil in the car. Bottom line, it took almost 3 quarts, to bring it up to an acceptable level.
After hearing stories like that, I'd be hard pressed to consider buying a former rental car, unless I needed a "winter car", and wanted something that was priced REALLY cheap..........
I think your examples it’s more exception to the rule. Sure there will be the jackasses who just beat on a car because it’s a rental but most people didn’t abuse rentals when they drove them. .
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