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


Undercover Cops Bust Man Who Allegedly Forgot His Heroin In Rental Car
Huffington Post
Quick-thinking workers at Budget Rental Car at Newark Liberty International Airport called police when they found the package, hidden under the dashboard of the rental vehicle and left behind. Quick-thinking cops went undercover and answered the call ...


New York Daily News

Bronx man busted at Newark Airport trying to get 250 bags of heroin back from ...
New York Daily News
Carlos Tavarez, 30, left the stash of 'Fat Boy' heroin in a Chevy rental car at Newark Airport. He was arrested Wednesday on drug charges after arranging to retrieve the drugs from undercover cops he believed were Budget Rent A Car workers, police said.
Cops: Bronx Man Arrested After Leaving Heroin In Rental Car At Newark AirportCBS Local
Bronx man busted at Newark airport after he tried to reclaim his heroin from ...The Star-Ledger
Man leaves bag filled with heroin behind in rental car, is arrested when he ...The Post-Standard
Daily Mail -Chron.com
all 17 news articles »

U.S. News & World Report (blog)

Should You Buy a Used Rental Car?
U.S. News & World Report (blog)
Last year, Hertz sold 27,000 retired rental cars and plans to increase its sales this year by 65 percent, reports Automotive News. Many rental companies have car sales divisions including Enterprise, Budget Rent A Car and Avis. Buying a former rental ...

and more »

AARP Members Save On The Road With Payless Car Rental
PR Newswire (press release)
WASHINGTON, April 15, 2014 /PRNewswire/ -- AARP members looking to save money on the road now can include Payless Car Rental as an option. As part of an expanded agreement with parent company Avis Budget Group, members who choose Payless ...

and more »

Did Budget send me the wrong damage claim?
Arizona Daily Star
Q: I recently rented a car from Budget in Nashville and returned it to New Orleans. It was in perfect shape when I brought it back. A few weeks ago, I received a damage claim from the company. They asked me to pay more than $3,000 for repairs. I'm not ...
Travel Troubleshooter: Damage claim lacks compelling evidenceMinneapolis Star Tribune

all 2 news articles »

Now Hear This: Avis Budget Group to Offer SiriusXM Via Factory-Installed Radios
MENAFN.COM
PARSIPPANY, Mar 31, 2014 (Menafn - GLOBE NEWSWIRE via COMTEX) --Avis Budget Group, Inc. CAR announced today that SiriusXM is now available to a majority of Avis Car Rental and Budget Car Rental customers via factory-installed satellite radios.

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Avis Budget Group Is Speeding Much Higher
Seeking Alpha
Avis Budget Group (CAR) is a leading global provider of vehicle rental and car sharing services, operating three of the most recognized brands in the industry through Avis, Budget and Zipcar. The Avis and Budget brands have more than 10,000 rental ...
Acquisitions, Product Offering, Milestone Achievement, and Statement Release ...SYS-CON Media (press release)
Trending Stocks – Avis Budget Group Inc. (NASDAQ:CAR), Youku Tudou Inc ...Techsonian (press release)

all 6 news articles »

Why Shares of Avis Budget Group Stock Accelerated Last Week
Motley Fool
Last week, shares of car rental company Avis Budget Group (NASDAQ: CAR ) were driven in the fast lane by over 8% following a press release on Monday, March 17 unveiling its latest initiative to get customers into their cars more quickly. So what?
Avis Budget Group Given Consensus Recommendation of “Hold” by Brokerages ...WKRB News

all 8 news articles »

SiriusBuzz.com

Avis and Budget to Offer SiriusXM on Most Rentals
SiriusBuzz.com
Avis Budget Group, Inc. has announced that SiriusXM is now available to a majority of Avis Car Rental and Budget Car Rental customers via factory-installed satellite radios. The new offering will give customers easy access to satellite radio… for a price.
Sizzling news - Avis Budget Group Inc. (NASDAQ:CAR), ARRIS Group, Inc ...Techsonian (press release)
Avis looks to emerging markets for further expansionBreaking Travel News

all 4 news articles »

Car Rentals

Budget and Hertz Focus on Offering a Wide Range of Exotic Cars
Car Rentals
There are other people who rent cars to drive vehicles that they may never have otherwise been able to drive. Many car rental companies are looking for ways to cater to the needs of the latter. Companies like Hertz and Budget have been busy adding some ...

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.