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Hertz bankruptcy creates huge stock of bargain-priced used cars – Roadshow

The VW Golf is one of many models selling at a steep discount through Hertz.

Emme Hall/Roadshow

Hertz officially filed for bankruptcy in late May, citing the coronavirus pandemic’s cataclysmic impact on rental-car demand as Americans stay home and avoid travel. Now, the rental car company continues to offload a sizable number of its rental-fleet stock. For those looking to save, there are some mighty good deals afoot.

iSeeCars pored over 20,000 used cars, trucks and SUVs that Hertz currently has listed for sale, all in an effort to identify which models offer the greatest savings. Some of the cars are very typical models you’d imagine for a rental fleet, but others are a little more shocking. The list isn’t made up of particularly old cars, either, since rental car companies work to keep their fleets updated for customers. Each car listed hails from the 2017 to 2019 model year.

That’s great news for those in the market for a BMW 7 Series, because that’s the single best deal from Hertz right now. The study showed the company is selling the luxury sedan nearly 14% below the average market value for an average savings of $6,877. Right behind it is the Chevrolet Trax, which is $1,714 cheaper than the average model listed.

A couple of other luxury cars make the list in the third and fourth spots. The Mercedes-Benz A-Class and Infiniti QX50 round out third and fourth place with savings on average of $4,252 and $4,145, respectively. Toyota’s full-size pickup truck, the Tundra, rounds out the top five with an average of $4,714 in savings, or 12.6% below the pickup’s average market value.

The final five include a number of more pedestrian vehicles. The Nissan Versa Note on average is $1,375 cheaper than the market average. Buick’s Cascada convertible is $2,241 less expensive and the Kia Forte comes in nearly $1,500 cheaper than the market typically calls for. Rounding out the top 10 are the Volkswagen Golf ($2,023 cheaper on average) and the Nissan Quest minivan. Remember it? The very Japanese-looking family hauler is $1,810 cheaper than the market average.

The best deals on Hertz rental cars

Rank Vehicle Average % Below Market Value Average Savings Average Price
1 BMW 7 Series 13.70% $6,877 $42,680
2 Chevy Trax 13.40% $1,714 $11,196
3 Mercedes-Benz A-Class 13% $4,252 $28,555
4 Infiniti QX50 12.70% $4,145 $27,760
5 Toyota Tundra 12.60% $4,714 $31,383
6 Nissan Versa Note 12.40% $1,375 $9,533
7 Buick Cascada 12.40% $2,241 $15,564
8 Kia Forte 12.30% $1,468 $10,851
9 Volkswagen Golf 12.30% $2,023 $14,434
10 Nissan Quest 12% $1,810 $13,874

On average, used car buyers will find a vehicle is 8% cheaper than its average value, likely thanks to Hertz’ firesale mode. It’s a good chance to save pocket a savings of $1,389 on average, according to the study, and the savings extend to other models like the Chevrolet Silverado, Cadillac CTS, BMW 5 Series and more.

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First published June 10.

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