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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 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]
In November 2002 Budget sold its truck and car businesses to Cherokee Acquisition Corporation, which is owned by Cendant Corporation. [5] In September 2006 Budget Rent a Car, Avis Rent a Car, and Budget Truck Rental were spun off by Cendant as a separate company, Avis Budget Group. In 2007, its headquarters was transferred to Morris County, New ...
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Earlier Payless Car Rental logo. In 1971, John Les Netterstron opened the first Payless Car Rental location in Spokane, Washington. Under the direction of Netterstron, the company grew from a local car rental store to a franchise system with over 100 car rental offices throughout the United States. By 1987 the company acquired the U.S. portion ...
This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental car may be worth more than the insured's vehicle. Most rental car companies offer insurance to cover damage to the rental vehicle.
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