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John Ranalletta

Hertz dumps fleet of corvettes

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John Ranalletta

From the article: 

 

Quote

First spotted by Jalopnik, Hertz has flooded the used car market with a fleet of 2019 Chevrolet Corvette Z06s, selling at significant discounts to Kelley Blue Book fair value. Some of the Vettes have made it onto AutoTrader, selling between $58,995 to $63,295, far below the Kelley Blue Book's $76,938 to $85,275 fair value range. Below is a chart showing the Kelly Blue Book value of 2019 Chevrolet Corvette Z06s vs. Hertz's liquidation price 

 

Hertz' asking prices are the new "fair value range".  At least until these beauties are scooped up.  I looked at these last week.  This is not new news. Each time I think about buying a used rental unit, I reminded of the question, "Whoever washed a rental car?"  Likely, nobody.  I'm guessing these have been ridden hard and put away wet.

 

autotrader.png

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lkraus

The last two cars we bought were rentals, both were the current model year, but in service about 9 months. 9000 miles on one, 20,000 miles on the other, service records showed maintenance exceeded the requirements. Both are Toyotas, so maintenance is basically just oil changes. The prices were about 30% less than an equivalent new car. We tend to keep our cars a very long time, so accepting 5-10% "wear" for a 30% savings seemed like a decent deal.

 

Buy a rental Corvette?  No, I don't think so...

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John Ranalletta

Looks like there's only one left in Vegas

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roadscholar

Reminds me of the 60's when Hertz rented out a fleet of black/gold GT350H's, numerous stories of people slapping on numbers and racing them or even doing an engine swap for the weekend. Doubt that happens these days with GPS tracking and is likely in the agreement but certainly some get driven hard although others may never exceed the speed limit. The trick is discovering which ones, I don't know if Corvette's have the feature or you can access it but with Porsche's you can get a DME (digital motor electronics) readout on the engine history and see how many over-revs it's had to help determine if it was ever used as a track car.

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ESokoloff
8 hours ago, roadscholar said:

Reminds me of the 60's when Hertz rented out a fleet of black/gold GT350H's

 Interesting story Bill:thumbsup:

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RandyShields

Marshalling cash before their bankruptcy filing yesterday.

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wbw6cos

Ruh Roh!  Better cancel my reservation for September.  

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RandyShields
48 minutes ago, wbw6cos said:

Ruh Roh!  Better cancel my reservation for September.  

It is a Chapter 11 filing, so they will continue operating while working on a restructuring plan to eliminate debt and restart fresh.  As with many others in the travel industry, they will likely be cutting expenses, but you should be OK for September.  

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wbw6cos

Thanks for the info Randy.  If they are available two weeks prior, then I will still use them.   These days, car availability is not an issue; I had the trip in the planning process at the beginning of the year.  As of now, the trip is a "go," but too many udates mentioning 14 day quaranantine still have me second guessing our trip to Scotland/England/Wales (at this point in time.)  Time will tell.

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