Budget Rent A Car

Budget Rent A Car is one of the largest car rental companies in the world, and has been in operation since 1958. Operating in approximately 2,750 locations in more than 120 countries, Budget is a wholly-owned subsidiary of Avis Budget Group, Inc. The Avis Budget Group operates approximately 750 Budget locations themselves, the remaining locations are licensed operators of what's known as the "Budget System". Of the 800 Budget locations in the U.S., 600 are operated by the Avis Budget Group, the remaining 200 are licensees, and may offer different vehicles and deals that those at the company-operated locations. Internationally the count is 150 company-operated locations versus 1,800 licensees.

Budget History

Budget was founded in 1958 in Los Angeles, California, by Morris Mirkin. The company grows quickly, both nationally and internationally, and was purchased in 1986 by Transamerica Corp. In 1997 Budget was purchased by Team Rental Group, Budget's largest U.S. franchisee, and changed it's name to Budget Group, Inc., and begin trading on the NYSE. In 1998 Budget introduced "Fastbreak", its express service. In 2002 Budget Group was de-listed from the NYSE and sold all its worldwide assets (other than Europe) to Cendant Corporation. European assets were sold to Avis Europe, Plc. In 2006, Cendant Corporation separated into four independent companies: the real estate division became Realogy, Inc., the hospitality division became Wyndham Worldwide, the travel distribution services division became Travelport, Inc., and was sold to The Blackstone Group. The remainder of Cendant was comprised of the vehicle rental services division, and was renamed Avis Budget Group.

Website Information

Website: Budget.com
Locations: Budget location search
Specials: Budget specials

Frequent Renter Information

Called Fastbreak, Budget's frequent renter program let's you rent with one click online, and bypass the counter when picking up your vehicle. You must rent at least three times each calendar year to stay as a member of Fastbreak. Additionally, with the Rent More, Save More program, you save 10-20% off future rentals after completion of your first eligible rental (for a period of 365 days after your last completed eligible rental).

Frequent Renter URL: Fastbreak

Financial Information

The Avis Budget group trades on the NYSE under the symbol CAR.

View the full CAR chart at Wikinvest

Budget Rent a Car News


Moody's assigns definitive ratings to Avis Budget Series 2015-1 rental car ABS
Moodys.com (press release) (subscription)
The Issuer is an indirect subsidiary of the sponsor, Avis Budget Car Rental, LLC (ABCR). ABCR is a subsidiary of Avis Budget Group, Inc. (Ba3 corporate family rating/stable outlook). ABCR is the owner and operator of Avis Rent A Car System, LLC (Avis), ...

and more »

Insurers' Win In Budget Rent A Car Coverage Suit Upended
Law360 (subscription)
Law360, Los Angeles (January 12, 2015, 8:46 PM ET) -- The Eleventh Circuit on Monday overturned a victory for two insurance companies in their coverage dispute with a Budget Rent A Car licensee over its alleged willful printing of complete credit card ...

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300 Hondas added to Budget Rent-A-Car fleet
Peninsula On-line
With the delivery of 300 Honda vehicles, Budget Rent-A-Car became Honda's biggest fleet customer. To celebrate this milestone Faisal Sharif, Managing Director Domsaco and Greig Roffey, Head of Sales & Marketing for Honda in Qatar accompanied the ...


Independent Online

Will Bidvest retain Budget brand?
Independent Online
Johannesburg- The expiry of Bidvest's exclusive franchise to rent cars and vans under the Budget Car and Van rental brand in southern Africa looms large this week. The fact that the franchise agreement has not been renewed yet has led to speculation ...


Cherry Hill Courier Post

Dropping off your rental car doesn't mean you're off the hook
Cherry Hill Courier Post
Budget Rent a Car recently quoted Roy Bonney a $96 rate for a one-day rental from Norfolk,Virginia, to Washington, D.C. But it sent him a bill for $3,374. The reason? A tire on Bonney's car went flat only a few hours before his flight back home to ...


A big day for unpaid internships Wisc. Senator pushing right-to-work Could ...
Politico
SENATOR PUSHING RIGHT-TO-WORK — Wisconsin State Senate Leader Scott Fitzgerald wants the Senate to take up right-to-work along with the state budget, scheduled for release next week. Fitzgerald said last week that he wouldn't call up .... When you ...


Drive Past Avis Budget Group (CAR)
Seeking Alpha
Avis Budget Group Inc. (NASDAQ:CAR) is a provider of car and truck rental services in approximately 175 countries. The majority of the company's revenue is earned in North America, Western Europe, Australia, and New Zealand. It breaks its operating ...

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Curbed SF

What $2500/Month Rents You in San Francisco
Curbed SF
It's just under budget at $2,495/month. There's a lot of natural light thanks to the many ... It's got gleaming hardwood floors, what appears to be a pretty spacious kitchen for the price, and one-car parking in the garage. Unfortunately, there's no ...

and more »

Avis in talks to run Budget franchise
Independent Online
AVIS Rent A Car Southern Africa is in discussions with Avis Budget Group to take over the exclusive Budget car, van and truck rental franchise for Southern Africa from Bidvest. This follows the current Bidvest Car Rental and Avis Budget Group agreement ...

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Appleton Post Crescent

Cheap travel: Whale watching on a budget
Appleton Post Crescent
Or you can fly into Loreto, rent a car and then drive four hours to San Ignacio, which I've done twice. It's a very scenic drive past Bahia Concepcion, and Loreto's a beautiful town to visit. There are only a few lodgings in San Ignacio, so make sure ...

and more »

References

1. Milestone Events, The history of Budget Rent a Car, Inc.: Budget Rent a Car. Retrieved May 2, 2011.
2. 2010 Annual Report: Avis Budget Group. Retrieved May 3, 2011.
3. Our Factsheet: Budget Rent a Car. Retrieved May 3, 2011.
3. Company Information: Avis Budget Group. Retrieved May 3, 2011.