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Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. [2] Budget is a subsidiary of the Avis Budget Group , with its operations headquartered in Parsippany , New Jersey.
In order to keep costs low, Payless typically shares a fleet with other Avis Budget Group-owned companies, Avis Rent a Car, as well as Budget Rent a Car, in many locations. Payless uses sales techniques to maintain profitability, including offering fewer vehicle classes than other rental car companies.
In 2011, Avis Budget Group acquired Avis Europe, an independently owned company licensee, globally reuniting the Avis and Budget brands. [10] On September 5, 2012, Avis Budget Group acquired Apex Car Rentals of New Zealand. [11] On March 14, 2013, Avis Budget Group purchased carsharing company Zipcar for about US$500 million in cash. [12] [13]
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The average transaction price for a new car in February was $47,244, according to Kelley Blue Book. That represents a 2.2% year-over-year drop -- but it's still crazy expensive for the average ...
Based on the annual American Automobile Labeling Act (AALA) Reports, drivers in the market for budget vehicles may feel the effects of tariffs on auto prices the most.
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