The Impact of Previous Rental History on a Used Car’s Value and Reliability
There are plenty of ex-rental cars in dealers’ lots. Purchasing a former rental is no different from buying a regular pre-owned car. There will be pros and cons regarding the price, resale value, and vehicle condition. This post examines the impacts of rental history on the value and reliability of used cars fresno.
Low Resale Value
The resale value of previous rental vehicles often includes a discount since the mileage has already impacted its reliability. You can get a good deal from a rental company selling its used cars. Their prices often include bargains, and this may save your budget. But it’s imperative to research well if you want good value for your bucks. Compare the listed price with online pricing guides like the Canadian Black Book to ensure fair prices.
However, a low-priced used rental car doesn’t always save you money in the long run. Because of its high mileage, it will depreciate at a faster rate. So, when the time comes to trade in, you will resell it at a much lower value than expected.
High Mileage
Mileage is a critical consideration when shopping for used cars Calgary. You might want to rethink your decision to purchase a vehicle with rental history. A car rented for one or two years will have a higher mileage than a privately owned model of the same age. The miles covered by rental cars are usually hard-driven since they have been covered by numerous drivers, some of whom are not careful on the road.
So, even a slightly used rental vehicle can display high mileage on the odometer. Unless it is regularly maintained, it may not be a great investment.
Bare Necessities
It is not easy to find the features you want from a model that has been in the business of car rental. Car hire companies usually buy and sell cars in bulk, so they perceive advanced features as liabilities and not feasible for their business. It is, therefore, rare to find an ex-rental car with high-end features.
Higher Maintenance Cost
A higher-than-average mileage comes with unexpected maintenance needs. If the ex-rental car already has 30,000 miles on it, it might require some replacement parts sooner than you expect. Some repairs and breakdowns are inevitable, and they will cost even more. Ensure that you inspect the car before purchasing, especially because it may not have a warranty backed by the original automaker.
Unless a used rental car has been factory certified as pre-owned, the warranty can be a bit obscure. Manufacturers honor the remaining warranty only if it is transferrable, but with some exceptions, such as misuse. Because many rental cars are misused, the original warranty agreement may not apply. While the rental company may add its own warranty when selling its vehicles, the coverage is usually short and less inclusive.
Concluding Thoughts
If you opt to buy an ex-rental, there are various concerns you should be wary of, as highlighted in this blog. Expect a greater mileage than in other cars used only by their owners. Also, rental vehicles take more abuse from random drivers, so they are not always in their best condition.
However, there are times when buying a previous rental car may be your best option, that is, if you’re not concerned about its long-term value and reliability. Many people need a car as soon as possible to start commuting to work or school. This is what keeps former rentals highly marketable. You can easily find the right car if you stay focused.
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