Here’s a theory or not, I was thinking about this as I drove past the very full rental lots at the airport. With travel at maybe a quarter of what it was a couple of weeks ago, well rental car companies off load cars? Could dump values on certain rental friendly models
Could be a regional thing. Around NYC rentals were expensive last week as were quotes from auto dealers. People without cars suddenly needing them or at least that was their perception
Definitely regional, I got an email from sixt for $49 per day on a range rover sport. Normally 150
A ton of our rentals are skiing related, and that’s shut down. Just checked prices in Maui, they have dropped big time, a rental that was $700 is now $450. Leisure destinations will have a glut of cars
If they aren’t already thinning their inventories I’d be surprised. Many sell their used cars direct, but if Manheim is still operating I would guess there would be more cars going through the auction lanes. Likewise even though some companies are offering payment arrangements and deferments, I imagine default and repo rates will go up.
And yes: more used inventory and black book values drift south.
Tesla may have more risk than most, they hold their own leases, and while they have a relationship with Manheim, their acquisition and disposal process has been reported to be overwhelmingly janky in the best of times. If their default rates goes up, and they don’t offer deferments (their portfolio is basically funded with corporate junk bonds, they don’t have access to the same credit the big auto companies do) they could get really jammed up.
I bet repo’ing a Tesla is easy, just have the car drive itself to the auction…lol! I saw something about how Tesla opened up a bunch of inventory for sale
Just hope it makes it in one piece without hitting a Jersey barrier in the process
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I would make the joke that you misspelled school bus full of children (BING BONG CRASH) but LOL no school busses, no schools in session, all kids sheltered in place, safe from a self-driving car missing LIDAR because of one kook’s giant ego.
Fixed it for you.
And I got email from them with “from $69” offer below
Book by Thursday, March 26, and you can drive off in a Kia Rio (or similar) and have the freedom to run your errands. Unlimited miles included.
I think this answers my question, I also found out that airport is allowing rental car companies to use airport parking lots for overflow.(FYI those lots are empty)
I hope the Honolulu authorities keep those fart Versas and chimney Corollas socially-distanced. If they start mating, the island will sink under the weight of all that disappointment.
Sigh…I’d be on a plane tomorrow if I wasn’t on call despite being on WFH. I need a good beach trip right about now.
I would have been on one today.
What the hell? I’ll drive a RR for a few days for that price
Not the time to go to the islands. 14 day self quarantine for visitors.
The mandatory 14-day self-quarantine orders are:
- Proceed directly from the airport to your designated quarantine location, which is the location identified and affirmed by you on the mandatory State of Hawai‘i Department of Agriculture Plants and Animals Declaration Form.
- Remain in your designated quarantine location for a period of 14 days or the duration of your stay in the State of Hawai‘i, whichever is shorter.
- If you are a resident, your designated quarantine location is your place of residence.
- If you are a visitor, your designated quarantine location is your hotel room or rented lodging.
- You can only leave your designated quarantine location for medical emergencies or to seek medical care.
- Do not visit any public spaces, including but not limited to pools, meeting rooms, fitness centers or restaurants.
- Do not allow visitors in or out of your designated quarantine location other than a physician, healthcare provider, or individual authorized to enter the designated quarantine location by the Director of HIEMA.
- Comply with any and all rules or protocols related to your quarantine as set forth by your hotel or rented lodging.
- If you become ill with a fever or cough:
- Continue to stay in designated quarantine location, avoid contact with others and contact a healthcare provider for further instructions on treatment or testing.
- If you are older or have any medical conditions (e.g., immune compromise, diabetes, asthma), consult your regular healthcare provider.
- If you feel you need medical care, contact healthcare provider and inform them of your travel history.
- If you need urgent medical care (e.g., have difficulty breathing), call 9-1-1 and let the dispatcher know your travel history).
Failure to follow this order is a misdemeanor and punishable by a maximum fine of $5,000, or imprisonment of not more than one year, or both. Enforcement will be handled by each of Hawaiʻi’s four counties.
So much for that plan…
We typically stay on resort anyway so that’s not a huge deal. There’s more than one way to skin a cat.