Hertz files for bankruptcy

Well it finally happened… https://www.cnbc.com/2020/05/23/hertz-files-for-us-bankruptcy-protection-as-car-rentals-evaporate-in-pandemic.html

While it’s a restructuring, highly like they’ll have to sell a large portion of their 560k cars. Likely to compound the already palpable impact on used car values.

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The Z06s hit the auction block

I’d never buy a rental

But I’d really never but a Z06 rental

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Yea and they’re automatic and yellow anyway. No thanks.

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They do have the cheapest 2020 740i in the country for sale listed at $51,500 and the cheapest 2020 430 GC listed at $30,100.

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hey where are you seeing these cars?

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It’s kinda sad, I know some of you road warriors don’t like Hertz. I used them all the time on vacations, and don’t have many issues.

https://www.hertzcarsales.com/rent2buy/BMW/2020-BMW-430i-13f902cf0a0d0c143784ab6ab6bd16a4.htm

https://www.hertzcarsales.com/rent2buy/BMW/2020-BMW-740i-13f979700a0d0cc77d55f589611b2e28.htm

You’d have to be drunk to buy these.

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still the pricing—wow!

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I wonder if 7 series still have bad re-sale value. I remembered back in the day so many were selling for 35k after 3 years when they were 70k brand new. Will it ever get discontinue or they must keep a flagship sedan?

Still horrible resale. Look at the 2019’s at 40k already.

I don’t think I’ll ever own a BMW again, I’ll just stick with leasing, I really liked my 07 328i, but finally had to get rid of it. Can’t imagine the repair bills for a 7 series.

Mhm. Owners Choice is good too if you are in one of those states, that way when BMW’s i4 comes out, you can get all the EV credits, and some of the benefits of leasing.

I am leasing a i3 right now, I love the way it drives. I can’t do i4 since in Chinese the number 4 rhymes with death :rofl: But seriously, I am curious how they would price it, the car looks great.

As for Hertz, I have a soft spot for them, last Christmas we visited NYC and DC and I was able to get a Impala for a decent rate, only passenger car that would fit all our luggage :slight_smile: Wife was freaking out on how cheap the gas was.

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I heard they’re tapping OJ for their post-restructuring campaign

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I have a hard time keeping up with all the car rental companies, between the holding companies/subsidiaries I think there is double the number of brands owned by half of these companies. Be interesting to see the ownership tree, they do allot of shuffling with cars, hence no branding on any key tags anymore. Other than your contract, it’s almost impossible to know what company your rental is from

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That’s pretty standard for both on trade in actually.

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Why? They need a few of their creditors to disappear?

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Buying Hertz stock is smarter than buying their cars. IMO

If I had the money to burn, I’d buy all those poor Nissans Hertz is selling and euthanize them in a crusher:

https://www.hertzcarsales.com/rent2buy/Nissan/2019-Nissan-Altima-10a9ba0b0a0e0a6b404338b512823134.htm

For Sale: Nissan Altima; never loved

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Both are headed to the crusher. Why? You enjoy buying shares of bankrupt companies and incinerating your money? In 99.9% of bankruptcies, common shareholders are first to be wiped out