Hertz’s Unique Opportunity: Buy Your Rental EV
Imagine renting an electric vehicle and then being offered the chance to own it. That’s exactly what Hertz is doing, according to a report by The Verge. The company has been reaching out to renters of electric vehicles with enticing offers to purchase their rentals instead of returning them.
Some renters have shared their experiences on Reddit, highlighting the attractive deals they’ve received. For instance:
- A 2023 Chevy Bolt was offered for just $18,442.
- A 2023 Tesla Model 3 with only 30,000 miles came with a price tag of $17,913.
- A Polestar 2 was available for purchase at $28,500.
“The deals are really appealing, especially with the added perks,” said one Reddit user.
The Verge
Hertz sweetens the pot by providing a limited 12-month, 12,000-mile powertrain warranty and a buy-back option within seven days. This strategic move to sell off its fleet of electric vehicles—mainly Teslas—comes almost a year after Hertz announced plans to reduce its EV inventory by a third. The decision was driven by lower demand and unexpectedly high repair costs.
As a result of this accelerated sell-off, Hertz reported vehicle depreciation costs amounting to $937 million in the third quarter alone—a significant increase from the previous year. Depreciation per unit stood at $537, but the company anticipates this figure will stabilize to below $300 by the end of 2025.
For those considering making the leap from renter to owner, Hertz’s current offers might just be too good to pass up!
